Investment Info:

Single-family residence wholesale investment.

Purchase price: $20,000

Sale price: $39,000

Contributors:
Peter Vekselman

Partner Driven, in collaboration with Karen Sc...

They will move to a different home where the owner keeps up on maintenance, and you'll be stuck trying to rent a non-functional home or paying a lot of money at once to fix everything back up.Best practice is to maintain your property.

It's because most people don't understand how money works. 

Keep in mind separating utilities so each unit has their own is an entirely separate factor you'll want to take into consideration other wise the bill gets put onto the landlord if you don't have things separated, over time that becomes a huge expense.

I don't know what you consider a lot of money spent on advertising and marketing, but I can tell you that $10,000 per month won't scratch the surface.  

What happens if the property needs money and one of you doesn't have it?  

Does anyone know of any asset-based hard money lender that does not require credit check.

So I wanted to purchase something that would not only make me money - but also a place to live.

If you are 100% LTV and there is something that causes you to sell the property you will have to bring money to close.

Are there folks out there, private money, that will provide second positions loans?