Without that, you have to be able to not only pay your own expenses, but also your first rental plus your second rental mortgage (at least on paper) with your other sources of income (ie money from your W2 job).  

Hello We own two lots from our own money in Miami.  

ALL,, even parts of East Cleveland, ( I know what you're saying this guy is crazy east clev, well pricing there has double tripled or more and IMO going higher, those in the know understand why ) Parma good luck making money there, you missed that boat by 5 years, even GH prices have tripled or more over the last 5, 6 7 years.

Hi,I’ve done a few hard money deals and I’ve been trying to cash out refinance a rental that’s just about finished.

Ensure that you are using a rent payment software program that records and categories rent and money charges and payments, including dates, payment amounts, and balance owed contemporaneously with the transaction.

I used that money to buy two other rentals. 

Class C cash flow on paper in reality is losing money each month. 

To really understand all the critical considerations about the borrower you should review prior to funding, I suggest you check out my book Lend to Live: Earn Hassle-Free Passive Income in Real Estate with Private Money Lending published by BiggerPockets.com.

There shouldn't be a shortage of people who have money and need a place to live. 

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