I have spoken to some other hard money lenders and most require 10-20% of the purchase price as a down payment.

Congrats on your purchase and on getting started in MTRs!

I used it to purchase an off market deal and am about to refinance to pay it off and pull out equity (550K total). 

I started my real estate investing journey this year with the private purchase of a off market house that went awesome.I then found a interesting triplex/warehouse property, went and looked at it with the listing realtor, crunched the numbers and decided that it made financial sense.

High purchase prices, need to choose right areas within a market.

Above all, if you decide to remain in Boston for the next several months but decide on Atlanta as an investment market, you should ideally visit the respective markets several times before making a purchase.

How did you decide on a fair purchase price looking forward a year of two?

My partner didn't have good credit at the time of purchase so her income isn't a factor for the HELOC because she isn't on the mortgage or the deed. 

Based on the disregarded entity status, I can then change the title to the new LLC, complete the sale of the property and 1031 exchange the property to purchase a new investment property under the LLC.

Purchase price: $93,000 Cash invested: $993 Sale price: $150,220 Contributors: Peter Vekselman Partner Driven, in collaboration with Robbie Vekselman, successfully completed a deal on Springdale Forrest Circle, Gainesville, GA.