Earnest money in Illinois is 3%, so there is that, but it's not much.This buyer did pull things together, albeit with extreme incompetence at every deadline, which is why I thought we'd end up closing

At that point your return on investment drops significantly and it is extremely hard to recover the majority of your purchase price and rental expenses with the refi.So really, the BRRRR method enables investors to access cash flow in a hot Market when it usually wouldn't make sense.

I read it before my first rental and it made me feel extremely confident and do things that seasoned landlords do to maximize protection and profits.Best of luck!

I lucked out and found a great GC who was honest, and did everything, I asked, and even pointed out things that I'd missed.

I honestly don't know what's taken me so long... 

Honestly in that price range you're going to run into a lot of issues with your clientele.With that being said you'll also have more cash flow per door to come along with those headaches so take solace in that hahahaCongratulations on the closing and here's to the next one 🍻🤘

If this agent has a good reputation, good contacts, has done a good job for you in the past, you plan to use them in the future and especially if they work with other investors who are competitors, I would think it would be a good idea to be upfront and honest with them and explain the situation.You could offer to give them the listing on the back end, or when you have the conversation with them you could say "I appreciate your efforts so I wanted to do something for you, it's not much, but hopefully it's enough to let you know I care and value your time, I really hope we can find another deal in the future together soon" and give them $500 in cash or a gift card or something... 

Honestly, the bus is KIND OF annoying, but it's not the worst thing in the world.

I loved the experience and i highly recommend it. if it were me, i would take out a HELOC just as a backup. i think its extremely important to have some sort of fund to pay for the issues that are unforeseen. i would do that now before you get started and just let it sit there. also, of course, you could use that fund your purchase too. i would get the money part set up before you get too deep in the lending process. 

For example, that 515K house, would actually be up for sale are 50K.  3 years ago houses were extremely cheap, similar to what is happening in San Jose.