Hello Experts - I am ready to purchase my first single-family home this year.

My boyfriend is currently in a bit of a quagmire, and I’m hoping we can get some excellent advice here.He has found a property that he absolutely wants to purchase.

Purchase price: $438,000 Cash invested: $72,500 Sale price: $655,500 Single family home rehab and resale.

What I mean by that is for instance in a place like Newport Beach California where houses cost millions to buy there may be apartments available for 2000 a month, which is way less than the per square foot of a purchase.

@Eli KingThe seller would need to contact the servicer of their loan and confirm it’s assumable.You would then need to qualify with that servicer plus have the funds to cover the difference between what remains on the loan and the purchase price for the home.

Purchase price: $215,000 Cash invested: $55,000 When we talk about long term rentals the goal is to buy something that people are going to live in 3-5 years with the ability to raise rent over time ahead of insurance, taxes and inflation.

working on purchasing a 8plex now in nd, Cyndi

Purchase price: $110,000 Cash invested: $88,000 Woohoo my project is finally finished and is listed for sale!

Purchase price: $355,000 Cash invested: $20,000 Sale price: $500,000 I purchased a 2 bedroom 2 bathroom condo 1488 sq ft. located in Chino Ca.

In other words, sufficient capital for the cash purchase of a property (plus rehab) and eventually refinancing the completed project to a long term loan.