I knew that in Michigan (and im sure across many states as well), you can purchase your first home with only  3% down on a conventional loan, or 3.5% down with a FHA loan.

hello all, I am trying to purchase a 2nd property and have a couple of strategies I can implement but i am truly at a crossroads .

I just purchased 2 4 plex, and sent out a 60 day notice to increase rents.

We found a house we want to purchase.

I purchased them assembled and shipped (didn't trust the contractor to put them together). 

You also will see it when a home has not had many sales in 20-30 years and since it was purchased for $65,600.00 back in 1990 it took a huge increase in sale price of $275K based on 2024 sale price.

You simply need to claim that you didn't get or weren't satisfied with your purchase. 

I'm purchasing my grandma's house, 1st investment house,  from my father and he purchased the house about 49 to 50 years ago. 

Purchase price was $640k and owe $340k.

It's important to analyze what went wrong to avoid making the same mistake again.I see a lot of new investors spend their very last dime purchasing a rental, then they have no money available to cover unforeseen events like what you experienced.