You can't purchase it with an FHA loan, but let's assume you could use any type of financing.

I am an engineer with a full time job, but plan on continuing to purchase rent ready properties to slowly build wealth.

Purchase price: $1,500,000 Cash invested: $50,000 Duplex was in foreclosure.

These are huge wins.Also, get your finances in order and get pre-approved so you are ready, willing, and able to purchase which will allow a realtor to take you seriously.

It's a fairly easy process and the bank works with you on the purchase to handle the funds through the 1031 exchange.If you have any specific questions feel free to reach out I am always happy to talk REI!

I am getting ready to purchase my first rental property in Oklahoma City, OK and I’m looking at an home that is priced under $80,000.I plan to put 25% down to get the best rate.I’m from California and haven’t run into this before... but it seems like there are lending minimums and a conventional loan of $60,000 isn’t something I’m finding easily.I could likely get a hard money loan or get a HELOC on my primary residence and purchase the home with cash... but I don’t like these options because the interest rates are higher than a Conventional loan.Besides hard money or a HELOC, are there any suggestions on how to get this smaller loan at a reasonable rate?

Here’s a quick overview of my situation:•I purchased my first BRR rental property for $81,000.

He purchased it a year ago for $325kDuplex listed for $396k Offered $350.

Full doc, 20% down on purchase and rehab, hard credit pulls, for a loan you intend to get in and out of.

The purchase price is 225K and property was built in 1910 around the Harrisburg, PA area.