Updated almost 6 years ago on . Most recent reply
(BRRRR) with a Twist
---------------------------------------------------------(BRRRR faster & better way to play)
▪So find a piece of property with one existing trailer/manufactured home already on the property that is move-in ready with land that has room for development
There are propertys all over EestTx that fit this description for around $40,000 and in great locations.
▪Organize the funding somewhat like a fix and flip 10% down of property purchase price, interest only loan and all repairs covered by lender. But rather than using the repair money to fix up a 《junky house》🏚 that could potentially be much worse than estimated once repair start taking place🛐✖, 60% of the time it always is especially when you're new or just money hungery . Use the repair money to buy TWO NEW✅ mobile/mod homes they're now making hybrids that are easy to get a mortgage on to place on the land along with the existing mobile home. Doing this ensures that no unexpected unpredictable repairs🛐 pop up during development time due to the homes being brand new and save tremendous amount of time compared to doing a full Rehab renovation on a junk home . Soon as the homes get put in place they will be available to rent right away (move-in ready) and producing cashflow .
▪Most interest only loans like to carry the loan at least 6 months before refinancing. after that 6 months is up, refinance the property a traditional(70%+ loan to value) on a 25 year amortization I don't believe they will go 30 on a mod. then take the refinance money and pay off the first original interest only loan✔. Since the homes are brand new and will take no time to set up and start producing cash flow right away, the interest only loan time frame will actually be in our favor.
understand that location is one of the most important parts when it comes to being successful in real estate investing.
The risk factor on this plane is tremendously low. This is one amazing exponential wealth strategy. There's always a faster and easy way to play the game of life. cutting time in half by perfecting the (BRRRR strategy)(B)UY (R)OLL-IN💱🏁 💨🏳❌(R)ehab❌🗑(R)ENT (R)EFINANC (R)EPEAT ♻️