This is a great time to invest. 

I own 5 paid off lots and I built an investment property December 2024 on 1 of the lots.

Soon I'll be purchasing my first ever investment property (Virginia) (MFH) and I honestly feel like I made a mistake.

Investment Info:Single-family residence fix & flip investment.

If you spot a rule-breaker, just tag @moderators, and we’ll take care of it.Again, welcome to the community—happy investing!

I use Foremost for my mobile home investing business with the properties I buy and hold.

Find an agent who also invests and find out where they put their money.

Likely will need an upgrade in the vacant unit at least.Financing & Numbers:Purchase price: $1.3M$600K down, financing $700K at 7% interestMonthly mortgage (P&I): $4,660Property taxes: $1,300Insurance: $250Maintenance/reserves: $250 (may need more due to the condition)Total expenses: ~$6,760/monthRental income: $5,000/monthOut-of-pocket cost to live there: $1,760/monthThought Process:I could gradually tackle repairs & renovations while keeping the units rented.Tenant turnover could allow for rent increases, but that’s uncertain with SF rent control.SF appreciation is solid long-term, but the building needs work.Alternative: Rent a 1BR in SF (~$3,200) and invest in a property elsewhere in NorCal, but I like the idea of locking in SF real estate now.Would love to hear thoughts—good long-term play or too risky with the maintenance issues?

Good luck & happy investing!

Sure, some lenders are incredibly high on rates, but overall, rates aren't much higher for an investment property than going conventional.I've quoted investors 20 bps higher than conventional and they end up going with me, simply because the loan is low doc, not reported on credit, and they can close in an entity.It's a case-by-case thing, of course.But they aren't looked down upon.