Hey all,I’ve recently acquired a 4 story, 5 unit building on a corner lot in old city Philadelphia.

Hi All,I've recently acquired a few properties and have started using Stessa (since I get it for free with a BP Pro membership) for bookkeeping.   

Amongst the common misconceptions I see by posters on BP are that hard money loans are junior mortgages to fill the gap between institutional financing and down payment; that it is in lieu of down payment so the borrower can acquire a property with “no money down”, and that it is money borrowed to use for an earnest money deposit.

Once you’ve built enough equity, refinance and pull cash out to acquire more properties.Leverage Knowledge: Learn about tax benefits, depreciation, and using LLCs to protect your assets as you grow your portfolio.If I were your age, I would’ve networked more with real estate investors early on and diversified faster.

We acquired a townhome property from a wholesaler, executed a successful renovation and remodeling plan, and achieved a profitable sale just 116 days later.

Your comments about acquiring real estate in strategic locations and wanting to rent to voucher recipients for the benefit of guaranteed rent may be at conflict with each other.

I did acquire some rentals as well but had property managers handle all aspects of that.

When you say a man in debt is a slave, are you referring to debt used for personal items, or are you including debt used to acquire income producing or capital appreciating assets also?  

Would love to take a look at your situation and find the most advantageous way for you to starting acquiring properties.

Not a fan of loan guarantor fees in general.Sponsors track record in these types deals across multiple economic cycles (when I see these types of deals, I mean acquiring new construction multifamily in the area)I am sure if I saw the deck, I would have at least a dozen more questions.