Before each refi, pay down revolving balances and avoid opening new personal accounts.

Which also turned out to be my most difficult year after experiencing major health complications and surgery in October.

Licensing and financing can be difficult.

Quote from @Andrew Nguyen: For the past few months, I have been learning about Multifamily CRE and am interested in entering the space in the next year or so.There are a few hurdles that seem difficult for me to clear, they are as follows: A) The NW Requirement - lenders are looking for a NW greater than or equal to the loan amount.

At the moment my ultimate goal is to lower the payment so when I convert this property to a rental eventually it is in a better spot to cash flow.Current Loan - 30 yr loan on a condo starting July 2023 Remaining balance - 365kRate - 7.25% Payment - 2625 Proposed Refi - 30 yr loan starting December 2025 (90% LTV)New Loan Amount (escrowed) - 376.4kClosing costs - 4584Rate - 6.35% Payment - 2348 Savings 277/m

The owner ceased communication back in March, and before that, communication was sporadic and the owner was very difficult to get ahold of for updates.

I’ve found balancing both—steady cashflow with upside potential—lets you grow wealth while keeping risk manageable.

Being in DFW, I have seen very difficult to find that out.

You do not pay this money to anyone, they just want to confirm you have it.You have to currently own a primary residence.There is a prepayment penalty and they vary but the most common is 3% of whatever the balance is, will be calculated and added to the payoff if you payoff prior to 3 years."

I am generally a proponent of purchasing investment real estate in an LLC, but its a balanced approach and FHA financed real estate is the exception where I always urge investors to review their eligibility.