I've had my license for a few months now and will soon be closing on my first listing.

@Jerome Morelosno offense but... this doesn't make a lot of sense to meHELOC rates are high so for this to work you'll have to give them a great return to make this work for them...way too complicated for my taste

If you spend $300k for asset that is only worth $100k, the initial income above expenses goes first to recover the negative equity position.  

I'd consult an attorney first, however, since what you are talking about providing free of charge is something that will be used to construct something on the ground.

I would be interested to see your numbers over the next 6 to 12 months for OKC as it appears we are seeing a drop in rental rates overall in the market based on my data. 

Congrats for getting started at age 21 and I really wish you a lot of success, but I have bought my first rental property in Milwaukee 15 years ago and frankly, the market was much easier back then, I did not have the expense of a PM and cash flow was solid at about $200, but not amazing.

Hi BP,My partner and I have set our sights on purchasing our first investment property in the central Oklahoma/Edmond area.

I have no idea how to do it or what to offer.He has a existing mortgage on it that is not very much1.Can I take over his mortgage at his rates?

I am looking to purchase my first rental property.

Given this new information, I'm considering whether it might make more sense to opt for a conventional loan instead of a hard money loan, due to the lower interest rates associated with conventional loans.