.- Adjusted Purchase Price/ Max Bid: $210,840.80- I start with the 1% rule (thus why I start the analysis by looking at rent) and then adjust the price based on the potential pay-out from a cash-out refi and equity position on the property- more on this in a second. - Potential Investor payout (15%): $242,466 - Rehab total: $76,480.00- I just used $40/ sqft for an estimate.

However, after years of disciplined saving, I've finally reached a point where I can make my first property (a small apartment) purchase last year.

@Tim Kaminski, Using the 1031 exchange will allow you to exit your older Pinellas properties and purchase newer properties elswhere that are not as big a risk from capital expense or natural disaster. 

If you're looking for somewhere fairly safe and consistent to store cash, land purchases in this area could be a good option.

Why do you think purchase contracts are so long and have such small print?

Based on my analysis, the recommended Purchase price is coming up way lower than the asking price.

Hi All,I recently purchased my first investment property and am going through the closing process.

Last year, I purchased my first multi-family property in Holts Summit Missouri.

In Gary Keller’s book, Shift, he lists 25 creative options that are most common, but barely scratch the surface:- Seller Contributions- Seller-Funded Permanent Buydown- Seller-Funded Temporary Buydown- Owner Financing- Contract For Deed- Seller Second Lease Option And Lease Purchase- Seller-Assisted Down Payment- Wraparound And Assumable Mortgage- Gift Funding- Selling And Refinancing Existing Assets- Non-Occupied Co-Borrowers- Using 401(K)- Temporary IRA Transfer- Pledged Asset Mortgage- Equity Transfer And Bridge Loan- Employer-Assisted Mortgage- Lender-Funded Buydown- Fannie Mae’s “My Community Mortgage”- Running Scenarios With Automated Underwriting Systems- Adjusting Amortization Period To Lower Payment- Adjusting Interest Rates To Cover Closing Costs- State, Province, And Local Grant Or Bond Programs- Mortgage Credit Certificate- Private LendingHe said these options barely scratch the surface.

Purchase price: $95,000 Cash invested: $30,000This was my first rehab.