Quote from @Charlie Zelaya: @Erik Estrada I doubt I’ll need the whole six months, I’m looking at 3-4 months max to rehab Should you need more time, the good thing is that there are loans geared towards doing a short term cash out for flippers to keep buying/get more time on their current loan.

I'm currently looking to buy a multi family property(10 or 20 units) out of state to get some better cash flow. 

Hi,I’ve done a few hard money deals and I’ve been trying to cash out refinance a rental that’s just about finished.

I tell everyone that the market is less important than the team you pick to run your operation.Buffalo is a great market if you are looking for a lower barrier to entry and higher cash on cash returns.I would advise you don't fall into the trap of chasing the cash on cash returns.  

Just be aware of the rules wrt rehabbing since some require you to escrow funds for the rehab amount (that is if you are doing rehabs).  

I drove by it right away after it was listed and made them an offer for 100k cash sight unseen.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

@Ashni Modilet's be very clear.you likely will NOT cash flow in the first year, or the first few years, unless you (1) buy something in PRISTINE condition, and (2) you put a substantial amount down.and think about it - the more you put down, the longer it takes to recoup that initial outlay before you actually cash flow.contrast that with a savings account. 

Purchase price: $252,000 Cash invested: $60,000 Sale price: $430,000 House hacked a fourplex with my partner Bruno.

Hi Ian,I might do that deal if I also felt that the rental amount was projected to go up (like in a high growth market) or if appreciation looked to be promising and I wanted to exit the investment in a short period of time but in general, by doing the deal with only a 6% profit, the margins are slim to make it worth it in the short term at least.~ Lindsey