Whether you are purchasing your first home or the next real estate deal, closings can be a nerve racking process.

The property is located north of Albany, NY.I purchased a property at a tax sale, received a quitclaim deed from the county, and have been marketing it to investors. 

I did this through seller financing, creative purchases, and utilizing other people's money. 

Purchase price: $200,000 Cash invested: $20,000 Sale price: $377,000 This was the first house I ever purchased.

Purchase price: $210,000 Cash invested: $21,000 2/2 condo, in a 314-unit complex. 1.7 miles from the beach, great location.

Rental prices in ABQ keep up with purchase prices much better than they do in Santa Fe.Overall, residential prices are up about 15-17% from 1 year ago, in both markets.

@Rufino MendiolaRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

Working on the rest.We rank them by Class A, B, C & D.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, we recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Here’s our OPINION for the Metro Detroit market (always verify each area for yourself!)

This increased the required household income to purchase the median-priced home by $6,400, to $119,700, after also accounting for the cost of tax and insurance.

The first purchase is the hardest.