Keep in mind you will also have to pay transfer taxes based on the properties assessed value, even if the property is transferred from your name to an LLC for a nominal amount + incur deed prep and recording fees.

The local assessor usually updates their assessment and tax records within 30 days to reflect the transfer, but some smaller office may be further behind.

For the moment I think there is a window to capitalize on a less competitive marketplace.

The two earliest popular and successful “gurus” were Jimmy Napier, whose speciality was investing in notes, mobile homes, and real estate “exchanging”, and John Beck, whose speciality was tax auctions, and complex series of exchanges in which John used near worthless lots acquired for pennies at tax auctions at full tax assessed value for exchange purposes, usually as a downpayment, or as collateral for a private note.

Well my guy that I helped found it on Facebook marketplace the guy was only asking $9,000 and I basically told him I liked it I wanted it and the seller tried to play the smooth saying I've got a bunch of buyers and the price went up and I basically told him to take it or leave it and I bought it for 10,000 bucksHow did you finance this deal?

I've worked in the SFR space for quite some time, and currently work as COO at Marketplace Homes.

These lenders are more flexible, especially if the property has equity and your credit and financial situation are solid.Here’s what you can expect: LTV (Loan-to-Value): The lender will typically assess the property’s current value and lend a percentage of that, often around 65-75% LTV for cash-out refinances.

A reserve is unnecessary, but I still keep around $15,000 - $20,000 in my account.The point is, that you should sit down and assess your finances to determine what the worst-case scenario may look like, how much you would need to cover it without impacting your life, and whether you will need to build a reserve.

I expect the project will be a bit cheaper than the quote because I've been sourcing materials myself which were included in the quote and was able to buy new hardwood flooring on fb marketplace as well as buying nice hardwood cabinets from Habitat Restore that will be refinished instead of buying new plus a few other fun thrifted finds to keep costs down!

If you want top dollar you should list here and everywhere such as FB marketplace FB groups, Zillow, Craig's List etc.You want to stir up a bidding war.