All Forum Posts by: Medellin Heel
Medellin Heel has started 6 posts and replied 16 times.
Post: How much capital to realistically begin flipping?
- Fayetteville, NC
- Posts 16
- Votes 0
Yea I was thinking about 40k. I think I will wait until i get 100k to be on the safe side.
Post: How much capital to realistically begin flipping?
- Fayetteville, NC
- Posts 16
- Votes 0
Wondering what you guys thought would be a good amount of capital to realistically start flipping houses as a full time job. Assume no debt and good credit.
ps, I am an American living abroad at the moment. So I would be able to relocate to any city in the US.
Thanks
Post: Exploring the idea of buying a MHP
- Fayetteville, NC
- Posts 16
- Votes 0
It seems to me this might be a better investment than SFH's ect. What is a general range for how much these things cost ie low - high? Also, what is a general range of income?
Other thank BP, what are some other great resources online for learning about investing in mobile home parks?
Thanks
Post: How hard to find these type properties?
- Fayetteville, NC
- Posts 16
- Votes 0
Originally posted by @Elizabeth Colegrove:
Make sure you watch the insurance and tax really closely. Also the kind of tenant. We bought two properties in Charleston. Great areas tenant base, etc. One problem, taxes work out to be 3x property for investors, insurance are high because it is on the coast and susceptible to weather. Plus don't forget HOA's.
This makes our monthly payment on our 150k house in California less than and our 90k house in Charleston due to differences in taxes, insurance and HOA. So check all the numbers.
Make sure you ask if there is a different rate for investors. If there is ask exactly how much! We learned so much on our first property.
How much is your total monthly payment for your 90k Charleston property?
Post: How hard to find these type properties?
- Fayetteville, NC
- Posts 16
- Votes 0
What is the typical mortgage amount on a 100k loan / 20% down / 30 year note? Safe to say about $600 dollars?
Post: How hard to find these type properties?
- Fayetteville, NC
- Posts 16
- Votes 0
Yes I am American. Good to know it's realistic.
What is the best way to find these type properties? Considering i'd be abroad and only back stateside probably for Christmas and summer.
Post: How hard to find these type properties?
- Fayetteville, NC
- Posts 16
- Votes 0
Will be looking for the best deals for optimal ROI. Everything will be fair game.
I am just curious what exactly I should be searching or aiming for and what is reasonable with my budget.
Post: How hard to find these type properties?
- Fayetteville, NC
- Posts 16
- Votes 0
I actually live and work overseas. So I am open to any area, city, or market. Plan on hiring a pm.
Post: How hard to find these type properties?
- Fayetteville, NC
- Posts 16
- Votes 0
How hard are these type properties to find?
3 or 4 plex
$100 - 150k
With rents of $350-500 dollars
What should I be aiming for price wise and expected rent wise considering I will have roughly $20-30k to put down as a downpayment?
Post: Anyway around this?
- Fayetteville, NC
- Posts 16
- Votes 0
I see. hmm darn