My last deal was on June it was a home that needed minimum repairs and I was able to get it for $45K.
I was able to locate a hard money lender that asked me for $5K down because is our first time doing bussines so I was ok because I was able to get that money from a credit card anyways plus the $3K I spent on repairs.
I close on June 19th and by the 1st of July I had a renter ready to move in and paying $1,100 a month. My first payment to the hard money lender was not until August 1st so the first month's rent was for me, well actually went back to pay the credit card. The payment to the hard money lender is $425 so I have left over $675 and the only thing I have to pay is taxes by the end of the year the insurance was paid at closing for the first year.
Now I'm looking for more similar deals and I will ask the hard money lender if I can put less money this time or nothing if possible, the last time I talked with him he saw the lease agrement on the property and was very happy on how I was able to work the deal.
"Don't compare your life with others. You have no idea what you are getting into."
"No compares tu vida con otros. No tienes ni idea de lo que se trata tu travesía."