Purchase price: $25,000 Sale price: $50,000 Contributors: Peter Vekselman Partner Driven, in collaboration with Seth Choate, successfully completed a quick sale on Hwy 49, Dover, TN 37178.

Hi All,I recently purchased my first investment property and am going through the closing process.

When you get a mortgage on a personal name and you transfer it to an llc after you close the lender is able to call the loan . have to be careful with that 

To close everything you will need a NFA from the town saying that No Further Action is necessary on the tank.

Still, with 20% down, you're looking at $5500/mo in total payment (not including any other upkeep expensese), and median LTR rents around there are probably $5500-$6000, so that's close but still very tight.And of course, putting down more money will increase your chances of cash-flowing.

The idea that you can build wealth without putting any money into it is a recipe for disaster and the sales pitch of gurus trying to steal your money.

They close loans fast. 

Inspection also reflects a Furnace leak needing replacement, six rotting french doors, 1/2 bath shoved in with grinded down and re mudded up drywall and some other minor issues.Is there a special kind of report to include these factors in a value for an as is sale? 

The total fees we were quoted from one lender initially were $50k on a $6ook DCSR between origination, closing/admin and title, seems excessive?

The new tenant income will further strengthen my financial position.While selling the properties is not my preferred exit strategy, the quiet title process should be completed by July 2026, allowing for a potential sale if refinancing is not feasible.