Partner Driven financed the Eagle St deal using its own capital, covering the $175,000 purchase price and $1,800 in renovation costs.

Partner Driven financed the Eagle St deal using its own capital, covering the $175,000 purchase price and $1,800 in renovation costs.

Most DSR lenders want minimum loans (not purchase price) of $75-100k.For apartment buildings, your $125k equates to around $400-450k purchase, as you'll also need closing costs and improvement funds.Depending on where you buy, this price equates to a Class C or D property.

Would just remind them that they will be fined if another tenant complains and they will be held responsible for any costs to treat smoke damage when they move out.

Those who give me an estimate, don't give me a break up of costs.

Don't be an absentee landlord... it costs a lot of money...

I checked out neighborhoodscout.com but I am wondering what good competitors are out there, and if there are any free (or lower cost) alternatives.

However, it might come with higher maintenance costs and more management responsibilities.Financing and Down Payment: With your savings and HELOC, you can make a substantial down payment of 35-40%.

Think of it as making new friends with benefits – of the real estate variety.Leverage Your Cash: Use your cash for down payments and renovation costs.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.