Cheap sub30k real estate

[Taylor K.]

Is there anyone else using the same strategy as Sharad in episode 155, for buying cheap properties all cash and using little or no debt? To anyone that has used this strategy, have you been able to quit your job yet and what would you say the pros/cons are?

[Jeff Filali]

@Taylor K. I only buy under $50K, mainly under $30K and almost all cash. I am doing very well with it.  2016 was really my first year as a full-time investor.  Purchased 8 properties, flipped several for good profit and reinvested in more properties, sold a few with seller financing and have 2 that were just purchased all cash the past few weeks. 

On Dec 31 this is where I'm at from last year-

• Started 2016 with $30K to invest
• Have $90K built up in Notes Receivable on my seller financed sells (Plus that's only the principle, add another potential 10.0% APR for the next 10 years)
• Have 2 recently purchased properties worth combined $95K
• Cash in Bank $30K
• Total OWED on properties $48K as of 12/31