The biggest challenge will be with the one long term tenant.

The biggest lesson, which I learned early on: get clear on the type of property you want to buy, then tell everyone over and over again.

Cash invested: $65,000 Sale price: $97,000This property was a very early lesson learned in private mortgage financings for me.

Credit unions, banks, mortgage companies and private lenders.They all had the same answer.

We are unable to meet our financial goals.I don't usually speak ill of anybody but we decided we needed to make an exception.So be forewarned, fellow investors - there are disgusting people out there, running predatory companies with zero ethics - that will prey on investors and mistreat them in the name of "PRIVATE" lenders, right here in the United States!!

My Question is if i have a private investor loan me $70K for 5-7 years (his terms) at 12-15% (not compounded).

Phone works.Did you get my private message?

One thing that happened back then its the rise of all this private money..

Faced with mounting expenses, extended timelines, and diminishing returns, we ultimately decided to sell the property instead of continuing with the BRRRR strategy.The Insurance Mistake:The biggest lesson I learned was that I had the wrong type of insurance.

Private mortgage insurance i believe is not charged on va loans.