All Forum Posts by: Kalon Green

I bought my first property back in 2020 it turned into a "house hack" since I wanted to start investing in real estate. I sold my first property for a decent profit. Now I have some capital to get serious about investing. I'm currently house hacking a property in Raeford and plan on renting it out. But in the meantime I want to find another property to either rent out or flip. But struggling to find the right property 

Investment Info:

Mobile home other investment.

Purchase price: $101,000
Cash invested: $10,000
Sale price: $180,000

This was my first property I ever bought. It was an mobile home built in 1999. I lived in it for a few years but during that time I wanted to get into real-estate investing. So I started fixing it up a little. Then I eventually pulled the trigger and found another home and sold my first property

What made you interested in investing in this type of deal?

Well I wanted to buy a home and that was the only thing I found within my price range

How did you find this deal and how did you negotiate it?

I found this property on Zillow

How did you finance this deal?

I used an FHA loan with 3.5% down

How did you add value to the deal?

I put down lvp flooring throughout the home. I also add baseboards and crown molding

What was the outcome?

I sold the house for $180,000 and made a decent profit

Would that loan just be for the new construction home? or would it also be for the existing home? I still have a mortgage on the existing home 

I own a home which I am currently livivng in. I've been bouncing around the idea of building another home behind the one im livivng in now. My question is how could I get the money back out of the new construction home? 

Okay thank you!

Is an asset depletion program a good route to go if you have little money to put down for a down payment? What are some pro's and con's?

Is an asset deplition program a good route to go if you have little money to put down for a down payment? What are some pro's and con's?