Quote from @David Spurlock: Hey @Drew Sygit, Can you expand on "Old advice" and "new realities?"

Purchase price: $640,000 Cash invested: $220,000 Purchase price $640,000Got it at this price because there is a non-paying tenant in unit 2 (rent value $3,500), we're in court Rehab $60,000All in cash (rehab plus down payment) $217,500Rehab included ground level basement and 2 parking spot drivewayMonthly cash flow $1,500 ARV $950,000Equity $470,000Refi cash out (August 2024) $150,000 (used to buy new rental)New monthly cash flow breaking even (non-paying tenant still in unit 2)New equity about $200,000

Quote from @Praveen Kumar: Hi everyone,Me and my wife very new to real estate investment and yet to buy a property.

Lee: Hello,I am new to this forum. 

I am new and in my beginning stages.Hey @Michael Goddard, welcome to the BP Forum!

Each area has its own rules on how it works, but basically, you buy the house, pay a deposit and agree to rehab the house within a certain amount of time.

New listings decreased by 40%, from 193 in November to 115 in December.

With less experienced or just poor planning operators, it isn't uncommon that they spend years distributing all the cash out to the owners, and then the time comes for a multi million dollar refresh to maintain the hotel brand, and no one wants to cough up the money back into the entity.

I also have three other investment properties in New York.

For example, I used an FHA loan (3.5% down) to purchase a 4-unit property, which allowed me to put down a low deposit while still generating strong cash flow from multiple rental units.