How would you turn 250k into 2.5 mil

1 Reply

So something that has been resignating with me is Jay Scott's last interview. He mentioned his house is paid off but has taken a LOC out on it in preps for a financial downturn. Now he obviously is a master in his craft and I am struggling to start, but what we have in common is a paid off home. Mine is worth about 280-290 based off recent sold comps and those are model matches. My objective is how would some of you out there take this scenario and build wealth. Would you go the STR route? flip flip whole sale, BRRRR and would you wait the market out or start now?

Originally posted by @Wyatt Degaine :

So something that has been resignating with me is Jay Scott's last interview. He mentioned his house is paid off but has taken a LOC out on it in preps for a financial downturn. Now he obviously is a master in his craft and I am struggling to start, but what we have in common is a paid off home. Mine is worth about 280-290 based off recent sold comps and those are model matches. My objective is how would some of you out there take this scenario and build wealth. Would you go the STR route? flip flip whole sale, BRRRR and would you wait the market out or start now?

 I'd buy "off market", sell on Lease Option to tenant buyers and get $25,000 down with $500 a month cash flow.

Kind of like this:

Average Turnkey Cash Flow Per Door In Phoenix Metro Area No Bank Needed

https://www.biggerpockets.com/forums/600/topics/584916-average-cash-flow-per-door-in-phoenix-metro-area

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