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Updated 4 days ago on . Most recent reply

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James McGovern
  • Flipper/Rehabber
  • Bloomfield CT
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Am I an idiot?

James McGovern
  • Flipper/Rehabber
  • Bloomfield CT
Posted

Am I am idiot for wanting to purchase a few new build homes and turning them into rentals? Have other investors had recent success with this strategy?

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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied
Quote from @James Wise:
Quote from @James McGovern:

Am I am idiot for wanting to purchase a few new build homes and turning them into rentals? Have other investors had recent success with this strategy?


 If you're buying them in a market heavy on appreciation, no not at all. Say you're in like Florida or something, the dirt only does one thing down there, goes up in value. Bank loans you the money, tenants pay back the bank, and 15-20 years later it's worth way more than you paid. Real estate investing is actually a lot simpler than people think.


JIm slightly disagree on
FLA only goes up.. some of the biggest crashs in RE history have happened in FLA especially SWFLA  like values currently are dropping like crazy based on the over hyping of the area.
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JLH Capital Partners

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