Tax lean property acquisition
Hey everyone I have been interested in some tax forclosure homes in the milwaukee area. There are two properties that im looking into both as owner-occupant for my first deal.
http://city.milwaukee.gov/Property-Listings/2638-N...
http://city.milwaukee.gov/Property-Listings/2845-4...
Knowing that i will need financing for either, Id prefer the 203k/fha route as I dont have huge cash reserves at the mohment. I also plan to take advantage of a forgivable loan program the city of milwaukee has that helps pay for rehab/ aquisition costs up to 50% of 40k. My goal with my first property is to have the tentants pay my mortgage and utilities for not only there side but to cash flow enough to pay for most of mine too. That will allow me to save money to start buying other properties or flips that come up. any Thanks for your time reading this as I hope to hear from you.