Too many other debt sources without the red tape to deal with and expensive legal costs to close the loans.Credit union, bank, Life Insurance, Pensions fund, Private investor loans etc.

Hi All,Like many others, I have been doing research preparing to begin my first REI with a SFH in Memphis, TN (because properties here on Maui are too expensive for regular guys with regular salaries like me!)

I'm trying to research what kind of trouble that you can get into by servicing your own loan but I'm not finding anything that is clear.I checked with Madison and they aren't expensive.

If you are doing a BRRRR and you cannot afford the payment without the refinance at the end then you need to build up a deeper savings, higher income, or look at less expensive property.

We do not want to move to California because life is too expensive over there.

Then simultaneously we get our buyers connected with a credit enhancement company.  

(basically just shoveling walkways etc)Looking at $87,024 in expenses before cap ex, maintenance and management.  

Obviously they are more expensive and need maintenance.

But you will have other expenses too: insurance, property taxes, maybe some of the utilities or HOA fees (I am assuming you are paying cash - if not, then a mortgage payment may eat up a lot of your profit).

The expense is refunded to you at closing.