Way to take advantage of your time capsule and start early.I understand the sense of urgency, but you are doing swell, so don't shoe-horn anything and get into a bad spot with private/hard money.I also get that $1700 is too much, so can you get a roommate?

Never fun to hear, but the urgency to buy something soon is probably sabotaging the best use of your money - which may be to sit idle while you wait for the market to reset So determine if buying your $500,000 home as a rental is a valid plan - and if not - consider other options.  

We need investors and mentors that have a very high sense of urgency. although we may not bring a lot of experience or value add at this stage with companies willing to partner with us, the payoff in forming a relationship now will be very valuable in the future as we blow this thing up.Looking forward to speaking to anyone willing to invest in us and build this business.

That is your in.I've seen comparable real life examples.If grandma only has one child, the child inherited a mortgage free home, there is no urgency for them to move or demand rent from their kids.

The hard money loans are designed to create the urgency to not hold the loan for an extended period of time because there is no secondary market they are selling to, there are some companies out there that could get you out of it, but costs of refinance probably will exceed the benefit for paying the 1.5% per month.

This is a similar strategy that some use for scheduling potential tenants or RE agents having an open house, to show that others are interested and to provide them with a sense of urgency and to give you their best price.Good luck and congrats on the new duplex deal!

The sample motivated seller questionnaire (and explanation paragraphs) on this page will equip you to avoid this common newbie mistake.If you're new to wholesaling or creative real estate investing, you can save yourself a whole lot of mental and financial anguish by asking a series of two or three questions to help you decide whether to deal with a property seller or not.The information you gather from a well crafted motivated seller questionnaire can also help you determine whether the property in question is worth investigating further, regardless of what you find about the urgency of the seller's situation.The section below will take you through a shortened sample form and discuss each section in detail.Contact Information Full NameHome PhoneWork Phone (maybe fax also)AddressSpouse Name (if any)Email AddressProperty Address (For Sale)How did you find us?

Urgency. 

But again, if you feel like you'll generate more cash flow via another rental property---and there's no urgency to pay off the loan---then by all means, purchase the rental property.Hope I was able to give you some insight into your decision.

In addition, it also looks like there is still significant pent-up demand from the pandemic, with buyer urgency so strong in February that 74% of the existing homes sold were on the market for less than a month.