Purchase price: $270,000 Cash invested: $100,000 We recently closed a successful investment deal on a duplex that we acquired off-market through a strong relationship with one of the largest investors in our town.

We expect you to be equally committed and, to that end, ask that you bring some money to the closing table.

We closed on the sale of the property Thursday at a sale price of $1.7 million with $412,000 down and a 2 year balloon note (with options to extend) for $1,288,000 at 9.999% interest with interest only monthly payments.  

Always 5 steps ahead Well between Don and I there is I suspect close to 100 years of experience at this.

Great to have someone close to you in your corner that knows what they're doing. 

Since you're new, going to guess you haven't been watching your rehab project closely - out of sight, out of mind!

Hey there @Steve Onay - My first thought is that you are asking a pretty general question about two huge cities in Chicago and Dallas...I think its easier to get started close to home but easier to scale if you are investing out state...what do I mean by that?

I'd recommend closing on a 2-4 unit property that needs some work but would still qualify for traditional financing. 

My wife and I funded a rebate on one of rentals using one. 6 months later we sold my primary (closing the HELOC).

Conventional loan with a 10% downpayment, used my commission towards closing costs, and had a seller pay a portion of the closing costs.