I recently closed on a refinance conventional loan, and rushed through the closing as we were trying to use the funds to finance the downpayment of a purchase deal.

Purchase price: $690,000 Cash invested: $300,000 6/6 two family detach house in HOA at 77 monthly.

If you are buying a second home and qualifying conventionally, then a second home purchase can be done with 10% down.

If the lease says rent is due on the 1st, I would give her the option of following the lease or moving out.In the future, every offer to purchase a property with existing tenants should include a request for an estoppel.

I added the details and expected rent below.About the homes:I have a 1200 sqf 3 bed 2 bath house in the Highland Park neighborhood I purchased in 2010.

Then use the funds to purchase another cash flowing property. 

Ammendment - due to a precedent set of a father buying his daughter a pony, a man shall refer to a prius solely in the context of purchasing it for a mother, wife, daughter, sister.

If we were to sell it now it would probably sell for 20K more than we purchased it for.

Hard money will go 70% LTV on the purchase, so I asked the buyer where the other 30% will come from and he stammered and said he'd get back to me.

I've crunched the numbers and if I could purchase three four-plexes in the next ten years, that would give me the financial independence I'm looking for."2.