I bought the building, land, and business all in one purchase.

Purchase price: $640,000 This is my primary residence.

@Riley Schaefer is a good example of one of our investors that has bought with us for years and has had a good experience purchasing multiple properties.

Those are numbers that should have been calculated before purchasing the property as a rental. 

Example:Mortgage approval up to $600k20% down payment = $120kClosing costs = approx 1.5% $18,000Furniture costs approx $30,000 based on $20 per footv at 1500 sqft homeMoney partner agrees to contribute all necessary cash approx $168,000 to purchase and set up STR. 

I purchased the property with a combination of cash and a HELOC.

Remember, success in real estate often hinges on purchasing properties at favorable rates.

Q4 2022 was the best time to buy though, for example 3/1 in sunnyvale located next to google office listing for 999k, comp is 2Mil.Recently sold flipped in 95051 has gross profit of half million dollar just for 3/2 setup.Bay Area is the best market for everything for folks with strong business acumen, opportunity is everywhere.These homes are usually purchased long time ago and the current senior owner can't no longer maintain the house, the story is very similar from one to another.

I know your post was about direct to seller, but in the multifamily space, if you're looking to purchase bigger deals, anything 100+ units, it's more challenging direct to seller.I would start with sites like Crexi to aggregate data in a specific market, and target what you're trying to buy. # units, time left on debt, how many years held, whatever you're focusing on.We've also had some success using wholesalers to bring us deals.

With those details, I am wondering if we should use the equity in our home to purchase an investment property?