What kind of property did you buy?

We have family teams in place in both markets of Texas & Virginia and source deals on/off market through agent referrals, cold calling motivated sellers and PPL.Well, if you get more deals than you can handle and they’re too good to be true I have a friend in San Antonio that buys properties I might could point you to. 😇 

You’re going to have to buy at least $1M (or whatever you clear after selling costs.), worth of replacement properties, not $500k.

It is just as easy to buy a bad deal as a bad syndication.

I would never advise my customer to take a 5 YPPP considering we are have been moving into a downward trending rate market since 2024. 3 Year Prepay Max but if you plan on doing renovations or taking cash out on the ARV then a 1-2 YPPP would be Max.I would also advise buying the rate down before you decide to take a 5 YPPP using seller credit, equity or closing funds.

We could make a decent down payment with the 40k, but due to us having little money left over at the end of the month, I'm worried about buying another deal with minimal cash left over after the down payment and not having two mortgages.

Quote from @Andrew White: Investment Info:Single-family residence buy & hold investment in San Antonio.

The type of home you buy determines the tenant you get. 

Buy: $284,900Rehab: $115,000Holding: $16,500 Points: $3,413 Selling fee: $30,000Insurance hold: $2,000-$2,500 (maybe get back $1,000-$1500 if you close quick)Other title/escrow purchase: $2,500ARV: $500,000Profit: $46,587 (9.25% approx) I would do the deal, especially if you get that gap for rehab closed 3-4 months and tighten up the rehab costs too ($100,000)   

What type of properties are you looking to buy?