It’s also worth asking the seller for more details on the tenants’ payment history and lease terms.If you’re new to this market, local property managers or real estate agents can give insights on vacancy rates and tenant turnover.

As an only child, my mother means the world to me, and I cherish the bond we share.

Hello everyone, I've done 3 buy and hold rental properties, and now I want to do flips, I need investors and I have some that have shown interest, in addition to speaking to private lenders that are willing to fund 70% of the LTV (based on the desired property)I'm seeing a lot of deals from wholesalers, but the problem is, some of them close in 2 weeks and some as long as a month, and they don't take conditional offers, and the good ones fly off the shelf really quick.My question is, how does someone like me close one of those deals within this short period, how do you arrange the equity and financing with little to no inspections sometimes even.I'd like to know how do I prepare myself to be able to close one of these good deals right away when they are offered to me and many others?

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.This example shows that while the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.

This is my 5th house in Gilbert and I plan to continue with this strategy until I get 10 houses.

This could help newcomers and I am one also, 5 months in. newbie.

My blog talks about self management from afar, class A investing, strategy turning personals into rentals etc.

Hi Everyone,I'm Nate Silver, the owner of a luxury vacation rental management company that specializes in high-end properties in the Poconos region.

@Matthew Samson It's generally more efficient to use one CPA for your entire portfolio, as they can manage multi-state filings and streamline your tax strategy.

For purchases, some lenders use the projected rent on AirDNA if the occupancy score is high enough and take a 20% management expense against the gross rents so 80% of the gross rents is used to structure the loan.