Hi all,I am new to BP and just starting to research how to start becoming a buy and hold investor under extremely limiting circumstances and was hoping the BP community could shed some light on the best financing strategy to use for my first few properties.Current Financial SituationA little background on my current situation: I am 28yrs old working in television in NY ( making roughly 55-60k a year- yes it is brutal) I just bought my first primary home 2 years ago in Williamsburg, BK to lock in how much I’m paying for housing year over year in a place where incomes don’t increase as fast as rental prices (2 bd for 340k (this is an HDFC which is how I got a home for this price in an area where the median price is 1.5 million) ) so obviously my DTI is extremely high at almost 60% with no other debts besides my primary home (I also have a roommate who pays me $900 a month for her room which helps with about half my total monthly housing costs) (had a great mortgage broker that really helped me wiggle in to my first home)I now have about 75-80k in equity in the home and access to a family trust with a similar amount of money in it and was looking for the best way to turn buying an initial first property all cash into the ability to buy more properties( out of state of course- looking at different areas in the country from PA to TX to TN to FL).

Do you also market properties as a broker?

You are not playing the game of telephone you--->your broker-----> seller's broker------>seller and then back to you.

I will certainly look for the infamous "Michael Le" to connect with you both @Michael Le :) I am also researching local brokers, so appreciate any input on that end as well.Holly

It's value is a calculation of:Net Operating Income (NOI) / CapRateFor example, if the NOI is $10k/year and the CapRate is 10%, the property is worth $100k.You need to speak with other local investors / brokers to determine what the right Cap Rat is.

We found it through a logal broker, and we were 1031 buyers from a 156 deal in Salem, OR How did you finance this deal?

I’m supposed to go to Indy in 2 weeks to visually inspect the grounds and interiors of the homes with the broker and a mobile home contractor. 

Not to mention, LA has more eager wholesalers than Real estate brokers. 

I recently moved to Miami and am trying to connect with real estate investors, rehabbers and brokers.

Closing costs are typically the money that you pay to the real estate agent, broker and title company (among other things )