If you or your brother can house hack, that can also offer you great low down payment programs and help you build your wealth even faster.  

I sold it at 7.5 percent over the course of 30 years and if the party defaults i immediately retake possession pocket the hundred thousand and the months of 7,000 payments and now I have an asset that is probably worth significantly more then when I sold it.

Hi Tammy,What you have is fairly consistent to what I've seen in the past assuming your 401(k) is held as a trust.

On thing folks can do is Google  All inclusive Deed of Trust..

I'd pay the loan payments with the proceeds if my STR cash flow isn't enough to cover it but just until I can sell each of the units next year. 

Mortgage payments, real estate taxes, utilities, property management fees, landlord insurance, and upkeep and repairs are examples of fixed expenses.

I'm planning to do a renovation on a 3-4 unit property using a 203k loan which I hear some contractors don't prefer because payment from the bank can be delayed.

This way the tenant rent could pay for part of the renovations as well or the tenant could just reduce your mortgage payment so you gain wealth quicker to keep purchasing properties. 

Because when every detail is explained correctly, it not only builds spaces, it builds trust.

Currently in the phase of buying my first property and needed some clarification if I’m getting screwed or not I’m in Rome, Ga and that is where I’m purchasing the home it’s a flip that was a 3 bed 1 bath but has been flipped into a 4 bed 2 bath the asking price is $214,900 originally 230k but the seller wants a quick sell my agent told me we should give them the asking price and ask for them to pay 5k closing close I wanted to ask for 190k and same closing cost but agent said they wouldn’t take us serious so I agreed to agents terms as I’m signing paperwork electronically I see closing cost is 17k since seller is paying 5k brings it down too 12k but being in Georgia I am approved for Georgia dream which covers closing and some of down payment now when I sign at closing I have to pay 6k I’m wondering why is closing 17k my friend bought a property his closing cost was only 10k granted he bought his property for 189k but I feel like my agent isn’t really trying to get me a good deal should I back away from this property, find a new agent, go through with this purchase, or am I getting screwed in the process?