I definitely wouldn't sign a purchase agreement before seeing the property.

Most work like this: Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV)100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

I would highly recommend finding a lender that does 10% of purchase price down because it will ultimately be less expensive for you.

It's a good idea to connect with a realtor in the area where you would like to purchase.

Purchase price: $115,000 Cash invested: $42,000 Sale price: $168,000 Unfortunately, we bought this property as a buy and hold property, and our research led us to believe that this neighborhood was up and coming not in a bad area of Jacksonville.

(The difference in rate depends on the deal structure, e.g., the ratio of rehab dollars to purchase price.)Like a HELOC, you only pay interest each month on the loan.

Hello Dana, For that purchase price in Brooklyn, NY, you could be looking at considerable unknown expenses at this point.If the property is occupied, you'll have to factor in attorney fees and holding costs while you wait to gain access to the property.Furthermore, you could be facing additional costs related to title issues: open permits, violations, liens, judgements, etc.

I actually purchased a SF house with a two story detached garage in a nice area of brockton.

Feel free to inquire about their staff qualifications if it's a larger organization.2.

Quote from @Melissa Sejour: I am new to the real estate investing space and was wondering how do you go about researching the best areas to purchase properties?