Lenders also typically have some origination fee - usually $700-$1000.4.

Originally posted by @Steve VanKast:An older friend died who had a daughter.

Originally posted by @Brock Laramee:@Robert SaundersWhat are my options? 

In an ideal situation, a BRRRR should yield infinite return because you would have none of your original invested cash in the property.

Originally posted by @Jason DiClemente:Look at the financials.

You will not likely qualify for bank financing with a low credit score and less than two years employment.

Originally posted by @Sean Carroll:@Patrick Philip there is a lot of legal jargon in them to keep you and him completely safe.

To me I count those things as probably more important than the actual deal itselfSo here are the numbers:Purchase price: 70KRenovation costs: 26K (I originally estimated 15K hahaha I wish)Closing costs: 2KAll in cost of 98K.Currently rented: 1200 per month.The bank appraisal with my local bank just came back at 134K and with a LTV of 75% I am eligible to refinance out 101K on the total deal.I am only refinancing 90K which will leave my all in costs at approx 8K on the deal.After PITI and reserves for maintenance, capex, vacancy, and management I will cash flow approx 200 a month with a 23% CoC return!

Originally posted by @Josh Wallace:I was discussing depreciation schedules as a benefit for real estate investors over the weekend.

Originally posted by @Animesh Das:Hello,I have a condo in Fremont CA, that I intend to put up for sale in September.I have received some enquires from friends and acquaintances who are interested in purchasing it.We don't want to involve any agents or FSBO sites, to save on commissions, so that I can offer a reduced price to buyer.So how to go about it?