.- Adjusted Purchase Price/ Max Bid: $210,840.80- I start with the 1% rule (thus why I start the analysis by looking at rent) and then adjust the price based on the potential pay-out from a cash-out refi and equity position on the property- more on this in a second. - Potential Investor payout (15%): $242,466 - Rehab total: $76,480.00- I just used $40/ sqft for an estimate.

. - $50k is going to be really tight. 20-25% down on a property is not $40k on a 200k purchase.

However, after years of disciplined saving, I've finally reached a point where I can make my first property (a small apartment) purchase last year.

@Tim Kaminski, Using the 1031 exchange will allow you to exit your older Pinellas properties and purchase newer properties elswhere that are not as big a risk from capital expense or natural disaster. 

Why do you think purchase contracts are so long and have such small print?

Hi All,I recently purchased my first investment property and am going through the closing process.

Based on my analysis, the recommended Purchase price is coming up way lower than the asking price.

Last year, I purchased my first multi-family property in Holts Summit Missouri.

In Gary Keller’s book, Shift, he lists 25 creative options that are most common, but barely scratch the surface:- Seller Contributions- Seller-Funded Permanent Buydown- Seller-Funded Temporary Buydown- Owner Financing- Contract For Deed- Seller Second Lease Option And Lease Purchase- Seller-Assisted Down Payment- Wraparound And Assumable Mortgage- Gift Funding- Selling And Refinancing Existing Assets- Non-Occupied Co-Borrowers- Using 401(K)- Temporary IRA Transfer- Pledged Asset Mortgage- Equity Transfer And Bridge Loan- Employer-Assisted Mortgage- Lender-Funded Buydown- Fannie Mae’s “My Community Mortgage”- Running Scenarios With Automated Underwriting Systems- Adjusting Amortization Period To Lower Payment- Adjusting Interest Rates To Cover Closing Costs- State, Province, And Local Grant Or Bond Programs- Mortgage Credit Certificate- Private LendingHe said these options barely scratch the surface.

I am currently on the journey to purchase my first property at 19 and have hit a roadblock.