@Tracy ScottLike @Wale Lawal alluded to ... the cost to buy a house-hacking property here in Colorado (or anywhere) are really no different than the costs of buying any property, regardless of your use.Upfront-- You've got down payment and closing costs (1-3% of loan amount). -- Inspection (maybe $500) and appraisal ($500-$1,000 depending on market) -- Any furnishings, if you plan to furnish it.

Closing Time

Not knocking wholesaling…I just think it’s a hit or miss thing and for me and my market I don’t find it reliable enough to scale the way I’d like or worth the additional exposure/risk it brings.Luckily, we have good deals on the mls here.I appreciate the suggestion and I’ll keep watching the deals come through!!

You can also do a deed of transfer at closing and switch it into another LLC, may be some title fees but since there is no sale, it is not a taxable event.

https://www.ktvb.com/article/news/local/capitol-watch/new-id...

The number usually varies from 10-20% depending on credit score, property analysis, etc.Some lenders will work with any level of investor experience, credit scores as low as 660 and can close in as little as 10 days (there are loan options for 640-660 credit scores- they require 20% down).Another good thing is interest only and 6-24 month loan terms- you can refinance by selling or refinancing to a long term DSCR rental property loan at any time once you complete the rehab.Once the property is ready you can sell it or if you want to keep the property as a long term investment, you can underwrite the loan based on your income /debt to income (DTI) ratios or you can go the DSCR route where the loan is underwritten based on the actual or market rents from the appraisal.DSCR loans won't use your income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.Here's a bit more in detail about how rates are calculated for DSCR loans:1.

I'm a few days from closing and when the title company sent out the settlement sheet with the security deposits and prorated rents as a credit to me from the seller my bank went crazy.First they said I need an addendum stating that the seller is crediting me.Then they said I need an addendum nulling that addendum because the seller can't give me that as a credit.

You'll learn how to: prepare for acquiring a property; analyze properties; negotiate; navigate the due diligence phase; close on a property.- Project management experience.

Hi everyone, I am closing on a property near the Asheville market that I intend to use for vacations but also STR via airbb/vrbo.

@Karen Wanamarta I'm having a really hard time finding anything that comes remotely close to cash flow, or really even being very profitable as a property to hold in this area.