I go up slightly (my initial offer bakes this likelihood in) and if the seller counters again I explain why I can't go any higher (all good reasons - winter's coming and the gas bill will not be low, it'll take at least two months to rehab a unit/units and fill vacancies, etc.). 

Please take this step of action in your out of state investing journey and I promise it will be worth it!

I don't have a lot of money saved up and I currently have poor credit 580-600, but I'm interested and dedicating myself to taking the first steps of financial independence by learning the ins and outs of the real estate industry.

These are the numbers from the mortgage company:Closing Costs: $8,679.11 (half of this is lender points for a lower interest rate)Prepaid/Escrows: $2,211.79Payoff: $130,189 (this is the loan I took out to purchase the home initially before renovating, I put down $23,025 which was 15%)Total funds to Close: $141,079.90Loan amount (75% LTV based on $240,000 appraisal): $180,000Total Due at closing: $38,920.10Help!

Plus the closing costs won't really be double, they'll be cheaper for the cash buy.In my experience it's just as easy to get the refi on an investment property as it is the initial loan.

Purchase price: $93,500 Cash invested: $47,000 Two bedroom, one bath steps away from CSU in Fort Collins, CO.

I love everything I am learning and think I’m ready to take the next step.

Like a said, its a small victory but it got me one step closer to enough cash flow to retire from my day job. 

Hi @Minh Nguyen Good to see you are doing the steps to invest in your future. 

My question relates to the $91k (13 units x 7k) I need.I have heard Rod Khleif and others mention that you should always raise the renovation money along with your initial equity raise.