Now that I have my first deal under my belt, I’m looking for my second Multifamily so I’m hoping for a crash or at least a dip in prices so the buyer has the upper hand.

The loan is 40k (AKA 40% LTV)Step Four: 52k in the bankStep Five: keep doing the above18k per year for 28k gives a 0,64 GRM; congrats, that's the kind smoking deal i have never seen in real life; maybe in some rust belt cities, but you'd still have to find decent tenants, and they wouldn't pay 1,5k a monthHowever, the net operating income would be better used in this caseCheap properties tend to have as much or even more operating expenses than more valuable ones, and you still have to take vacancies, high property taxes and the 12% for your private lender in consideration

Identifying and understanding these strategies act as tools in your tool belt.

I'm sure the debt you'd have to service on this loan would be less expensive than a hard money loan, also this option keeps your cash reserves higher thus your risk exposure down - as you would only have to make monthly payments and come out of pocket for the renovations.Just make sure to do the necessary renovations to get the dollar value you are seeking on the sale and I'm sure this opportunity could be the one to get the confidence under your belt to continue investing down the road!

I have a general tool belt(hammer, pliers, screwdriver, etc.) then;2.

& looking at houses by the belt line , drive around there and I want to run out.

@Daniel ShowmanI agree with @George Blower you will want to do some research into SDIRA custodians and pick one that meets your needs the best.

Hello, I am a newbieie in real estate investing and need some help and advise on trying to get my first property under my belt.

I'm sure getting some tennant management experience under my belt would help greatly as well.

@Jimmy Ready as @George Blower mentioned, you can take advantage of both a Self-Directed IRA and your work 401(k).