I am thinking about doing a 2 property deal tomorrow and would like to hear what you think about it. The properties are in extremly desireable areas of the Phoenix metro area(3,000 sqft. in Chandler & 1700 sqft. in Gilbert). Chandler property is a sale price of $515,000 and the Gilbert property is a sale price of $360,000. I will get a total of $65,000 back at the close of both properties. I will live in one and rent the other out. I plan to use the money to do a couple of rehab projects. I can borrow from hard money and use my 65,000 to do the repairs. These type of projects are hard to find but still can make $10,000- $15,000 profit off of each. Also I want to invest in some pre-construction projects but will have to make some quick cash first to pay my 2 huge mortgages. My problem is I am scared to do this deal. What if it goes wrong? I have never even owned a home before. I am young and have never invested money in anything. I make decent money but not enough to cover this mortgage for to long if my plan does not work out. I do know a good deal about real estate, I am a mortgage broker with a background in construction. I think this will all work out but like I said I am afraid to think what will happen if it don't. Please give me any words of wisdom you may have. Thanks from th bottom of my heart.

hi marina,
let me know if you need help renting out your 2nd property. since youre a mortgage broker i have a good idea to avoid the burden of having negative cashflow. send me a private message if youd like.

Marina,
What are each of these properties worth in their present condition? If you had to sell tomorrow, could you easily sell them for a good bit more than what you paid?

The whole key is to buy the properties right, regardless of any special financing or cash back you are getting.