Hello Everyone,I'm a first-time investor based out of LA who is interested in doing a BRRRR out of state.

I have had umbrella insurance (without being a RE investor) for many years now and 1M umbrella is costing me about $1400/yr. 

the home ended up selling for 2.2M Don't compare yourself to other more experienced investors.

While the obvious caveat to this is a slightly higher purchase price (if you choose to do so), there are a variety of benefits to this strategy as well, such as:- The idea of getting a Lump Sum Payday (from the bank) AND a steady stream of Passive Income from you as an investor for the downpayment is incentivizing to most. - If the seller is desperate to close (due to health issues, family problems, liens, etc.), they may agree to Seller Finance the small amount in order to ensure the deal makes it to the closing table. - You're minimizing how much is coming out of pocket when closing arrives. 

They offered assurances as to their high level of confidence in the applicant, but have provided any other info on the tenant.

I want to become a multi-family investor to achieve financial freedom.

I want to be a full time investor in real state and being an architect really helps in the rehab process How did you find this deal and how did you negotiate it?

Are they letting investor buy those?

Thank you for sharing the numbers, as I'm sure a lot of investors will have a lot of different ideas for you based on the outline you provide. 

Throwing this out there as well for all investors in the area to connect and meet up. https://www.meetup.com/north-country-real-estate-investing-c...