Typically closing costs are around 1.5-3% of the purchase price depending on buy down points, tax proration, etc.

Hi friends, we started a meetup earlier this year for local investors (LA County), with a focus on multifamily properties.

Why do you think purchase contracts are so long and have such small print?

The best way to access off market deals you have to either do it yourself, which is a full-time job calling and building relationships with these cold sellers, or find investor-friendly agents/wholesalers sourcing these deals for you.Check out wholesaling Facebook groups in your area and add yourself to all of them.

Yeah...I guess it depends on their expectations for a future home purchase and their ratios.

Typically on an investment property purchase transaction lenders will require a minimal of a 15% down payment. 

Here’s a recent real world example. . .This deal was put together by my former student, current friend, and now successful real estate investor.Source: expired listingLocation: investor, Florida; property, IllinoisType: long term lease option via a sandwich leaseTerms between investor and homeowner:a) 48 monthsb) option to purchase price $135Kc) rent, $1200d) cash out of pocket, $0.

When he went to draft up the contract he made it a Confessions of Judgement contravr in which I waive all my rights and if any of my "associates or friends" talked about him I'd have to pay half a million per offense, and he could easily claim a violation happened that never did to collect half a million dollars and I wouldn't be able to do anything about it.He consistently threatened me with legal action into trying to get me to accept that crazy contract.

So how is this possible if I’m going to finance the initial purchase of the property?  

In order to increase cash flow, you might suggest a shorter purchase price or a longer-term financing plan because the house is ready to move into and doesn't require any modifications.