In our early years starting in 2009 we got start through the purchase of a number of bank-owned properties during the economic downturn out of state and in flat markets initially for $5-25K until we had cash for larger purchases. Out of necessity we bought these projects for all cash with a number of investors, almost always investing our own money in our flips. We resold a number of these for a $20k profit before working our way up into bigger projects. We still hold a handful of these properties as rentals. Initially these rentals paid themselves off in 4-5 years or at a minimum 20% return, while the equity slowly crept up. We were confident enough in our online research and trusted teams on the ground that we bought these properties as-is and without seeing them in person. We taught this strategy to a number of starting investors and would recommend it to this day as a good way of getting started and learning without undue risk.

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