Make your plan, map it out, understand the financial impact that some vacancy, turnover and unit refurb costs will have on your cashflow and decide the pace that's right for you.With a staged plan to raise rents slowly or force some turnover by not renewing existing leases, I'm sure you can get the rents up to market within six months to a year.Good luck!

The banker I have worked with has required me to provide a personal financial statement, copies of past US tax returns, work contract showing my present income and other documentation (foreign mortgage) to show my monthly cashflow.Hope this helps.

We also contact local law enforcement to let them know we suspect drug activity at the property/unit, and we keep accurate records of all contacts.If said activity continues, we initiate court action for eviction. 

:) I have been lurking and learning on BP for awhile now, but am FINALLY ready to take action and jump into my first deal!

I really like the near passive cash flow and financial security they provide.

One of his mortgagors (borrower/occupant) has some serious financial issues due to the death of her husband. 

Traditionally banks loan on appraised or purchase, whichever is lower...you may be describing a hard money lender...that's a different ballgame altogether...It's impossible (in 99.999%) of all real estate acquisitions to use financing and acquire a property with no money out of pocket...best you could do is HML if you're flipping this...you may scrape by with points and fees...If you're using HML you will have to sell the property or settle the debt with a re-finance...re-fi's are typically 70% LTV...and completely dependent upon your personal financial situation, DTI...easy to get burned if you don't have capacity or the value is not there...and this is an expensive asset.A conventional lender can't lend if seller financing is involved...lending constraints...

A little about myself, I have a background in sales and marketing (just moved to the tri-state area from Dallas last year), and I have decided to put my financial well being in my own hands.

I came to USA in 2014 with just $400 and joined a 2 year Master's in Computer Science Program in NJIT,i completed this in just 10 months.While doing masters i started reading books related to financial freedom.My first book Rich Dad Poor Dad as most of the people's beginners guide.i moved to florida in 09/29/ 2016 and i closed my first property in 09/29/ 2017 which leads to financial security which means total expenses=total passive income.I am closing second one 5/7/2018 which will bring in extra 800 in passive income.About Properties: First is Condominium for 120000 , 3 bd 2 bath, i do AirBnB in one room, stay in one and rent the other to my friend.This will bring in 400-750 in passive income.Second one is near Downtown Orlando for 230000, which is worth 265000 as per appraisal. i will be renting the rooms as this property is having 3 Bd 2 Ba and 1 Studio Apartment which will bring me from 600-1000 in passive.My Goal is to reach 10000 in passive income, Please guide me how to reach this destination as many of you reached.i am improving myself and these are the action list1) Reading books related to Real Estate (One house at a time, Buy houses with No Money Down by Brandon Turner, Millionaire Next Door.2) This Discussion to reach as many amazing people and achievers as possible.My Questions1) How to buy next homes ?

I came to USA in 2014 with just $400 and joined a 2 year Master's in Computer Science Program in NJIT,i completed this in just 10 months.While doing masters i started reading books related to financial freedom.My first book Rich Dad Poor Dad as most of the people's beginners guide.i moved to florida in 09/29/ 2016 and i closed my first property in 09/29/ 2017 which leads to financial security which means total expenses=total passive income.I am closing second one 5/7/2018 which will bring in extra 800 in passive income.About Properties: First is Condominium for 120000 , 3 bd 2 bath, i do AirBnB in one room, stay in one and rent the other to my friend.This will bring in 400-750 in passive income.Second one is near Downtown Orlando for 230000, which is worth 265000 as per appraisal. i will be renting the rooms as this property is having 3 Bd 2 Ba and 1 Studio Apartment which will bring me from 600-1000 in passive.My Goal is to reach 10000 in passive income, Please guide me how to reach this destination as many of you reached.i am improving myself and these are the action list1) Reading books related to Real Estate (One house at a time, Buy houses with No Money Down by Brandon Turner, Millionaire Next Door.2) This Discussion to reach as many amazing people and achievers as possible.My Questions1) How to buy next homes ?