All Forum Posts by: Courtney Rodes
Courtney Rodes has started 1 posts and replied 3 times.
Post: BRRRR in this Market?
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I'm reading conflicting information on using the BRRRR method in todays economy (2023). With interest rates higher, is it worth it? Are hard money loans unaffordable now as well? What's the best strategy for real estate investing in a downward market?
I love the cash flow and that’s one of the first things that attracted me to mobile homes. They are also recession resistant.
Quote from @Adrian Smude:
Quote from @Sandy Miller:
Quote from @Adrian Smude:
Quote from @Kevin Singh:
Hi, I'm new to real estate investing and I just wanted to know if anyone can help me get started. like is wholesaling best to start off or something else?
like others have said, be careful of the education which is more about the person giving the education than you. I started with buy and hold and that’s still my business. I’ve done and still do a little wholesaling but it’s not the best fit for me and it doesn’t grow passive income. Find what’s best for you! Best of luck, let me know if I can ever be helpful!
Hi Adrian , can you share your strategies starting with buy/hold as a new investor . Most people start with wholesaling to raise the initial cashflow..
Sure, I’ll attempt to share best I can within this short writing.
I find wholesaling to be one of the more difficult strategies because to do it correctly you have to know how to market, determine rehab costs for a rental and a fix and flip, negotiate with a seller, the closing process, etc. as a buy and hold investor I just need the rehab for a rentals, closing process, and landlord.
As a buy and hold investor I worked a regular job and purchased rentals with my W2 income. Snow balled all the profits back to buy another property. My girlfriend at the time was bankable so she was doing the same. We weren’t buying multiple a year but becoming wealthy isn’t an over night thing. I learned a ton during my journey. I found ways to bring in more profit from less rentals.
I made genuine relationships then found my niche in the individual mobile home with the land niche. Then I decided to focus only on cash flow so I sold off my equity and traded into CashFlowing mobile homes.
I did a little wholesaling along the way but that was with properties that didn’t fit me as a buy and hold. My number one goal was always, how could I profitable buy and rent this property?
I now primarily buy and rent mobile homes which pays for my life and I get to travel and teach what I do, but if I didn’t have my predictable income from my rentals I wouldn’t have the freedom. It sounds like a long process but I got to the freedom line much faster than many fix and flippers and wholesalers I know.
I am interested in the mobile home on private land because I already own three of them and they pay me nicely on the rental side. My question to you is, do you invest in these particularly because they are less expensive up front but yet provide rent compatible with a stick built house?