My second contract is the actual contract I closed on.Crazy thing is, I didn’t see the house before I put contract in.I trusted that my agent knew exactly what I wanted by that time and I flew in to see the house during inspection-before close.STEP #5 Found the money  Now some would probably argue that this step should have been higher up on the food chain…BUT I am simply telling you my process.Being fresh out of college, I did not have the capital to pretty much buy ANYTHING cash-no matter how “cheap” the property was.What I did have was good credit and a job.

I’m hoping to find a small multifamily in a “cheap” & healthy market that cash flows for less than 150K.Here is the thought process I’ve gone trough so far:As I will not be living in the US and unfortunately won’t be able to manage it myself I definitely want to go with a state that is landlord friendly.

I suggested instead of focusing on going up $4,000 (because we all want a deal and we will be damned if we increase our offer because we see on TV all the time how people buy these houses on the cheap and why should we be suckers… WRONG).

To each their own, but I for one would never live where cost of living is as high as you are proposing, I'd much rather be where rents are high and houses are cheap, 2% are my worst performers, I want $250 positive on a 10 year Amm all in I don't hit it every time but i have some that do.

Neighborhoods that are up and coming include Woodhaven, Richmond Hill, Ozone Park and Jamaica are still on the cheap end and getting a lot of attention.

No one will notice the difference if you do the above solutions whereas if you do a cheap vinyl window everyone will notice the change.

They think a PML is cheap money from somebody that doesn't know what they are doing and HML is expensive money from people that do know what they are doing and won't lend without skin in the game.

If the market values arent there I wouldnt buy in those areas , no matter how cheap you get them for!

On lower end flips, I just ask my painter to mix whatever he's got to make an earth tone; whatever is cheap, but good enough.

They're pretty cheap and lots of properties have the extra room.