It’s critical I get it right and begin to free myself from work as a mechanic and make the transition into real estate!

I am looking to make an offer on a property in NJ. I have a lot of experience in renovations and property management for others but this will be my first investment property. It is a mixed-use building with a pre-exis...

Auto                                  $ 6,000                    0            ????????

If there are older mechanicals or roof issues those can cost quite a bit on an older commercial building.

Or you will need to hire a manager, preferably a hotel manager.Soft and hard goods should have a value and depreciation, just like the mechanicals of the actual real estate.When you are serious and at least under a LOI, you can get access to financials to see how the property is performing. 

I was approached by a startup backed by an institutional investor that offered me an interesting financing deal for investing together in new properties and I'm not sure if it's a good deal: - They will provide a very cheap hard money loan - 85% of the purchase + rehab price for 3% APR (so for a house I can buy for $100K + $30K rehab I get $110K at 3%)- They then provide guaranteed refinancing after the rehab covering 80% of the property at 4% (so assuming the value increased to $160K, I get $128K mortgage at 4%, essentially taking back most of the equity) - In return they want 40% of the property (so 40% of the net cash flow (after financing and operating costs) and 40% of the net value after the sale)I'd love to hear your thoughts - on one hand I will only need very little equity upfront and I'd be able to take back most of it (and maybe more if I get a good deal on the property), and the mechanism is easy, streamlined, and like an "auto pilot".

Most of them in come good working order mechanically but need a cosmetic overhaul to bring them up to modern standards.

They owe 6k in back taxes, 66k on a 1st lien mortgage, 5k in back owed mortgage payments, and a 3k mechanics lien.

Money is simply the mechanism used to get the life we want, but it is the life not the money we crave.

My 1 LTR has been on auto pilot once I got a good renter in.