Purchase price: $270,000 Cash invested: $54,000 A multi-family upper/lower duplex in Ankeny found off-market during COVID.

If you sell in a hot market, buyers might overlook the plumbing for the right price, especially if the upstairs shines.A Few Thoughts: Your plan’s solid, but a couple of things to consider.

1) an investor will pay the least for your house.2) An assumable loan will only help if you owe at least 8-%, preferably 90% or more if the sales price for an owner occupant who will pay the most. 3) it’s been a VERY slow winter.  

Holding costs should be lower than using all of HELOC. 50k won’t cut most purchase prices, so have to use some of HELOC too. 

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I'm sure you will need tools to find deals (eg price/sqft etc), estimate rents, calculate cash-on-cash returns, cap rate etc.

This would also allow you to get better pricing from lenders.

And what is your price point and are you looking for turn-key properties or something along the lines of a "fixer upper"?

Purchase price: $275,000 Second investment property purchased in 2021.

What is the price of the tax lien.