How did you finance this deal?

We have a plan to push them through financing with a good lender that deals with this type of loan. 

On Market How did you finance this deal?

"Subject To" & "Wraps" are forms of Creative Finance when buying real estate. Instead of borrowing money from the bank, you are borrowing the mortgage of the person who sells you their property. You can see the ad...

Any other creative financing or options? 

We put 50k down, 30k in renovations, and the seller financed 150k at 5%.

If at all possible, I'd suggest beginning with a house hack because it should cut down your own monthly expenses while you build equity and there are great low down payment programs available for owner-occupied financing.

I have certainly found it sometimes difficult to see all the advantages and disadvantages of financing approach if you are not quite savvy yet - which I admit I am not! 

If it's cash-flow negative is it going to be a burden on our finances?

It's essential to evaluate each deal individually, considering factors like your specific market, property condition, and your own risk tolerance.Here's a quick summary of what you might do:70% Rule: Use this as your initial benchmark to assess deals, especially if you're looking at traditional financing with 70% LTV as a goal. 75% Rule: When you have access to lenders offering DSCR loans at 75% LTV, adjust your analysis to match this new lending option.