Quote:
Originally Posted by Deej
so youre looking to invest in rentals AND live in one and manage it? Or purely a flip?
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I am thinking like this...
I will buy the first one. Fix it up, homestead, and the in 3-6 months move out and rent it to my sister. She needs a house, and will never be able to afford one herself. The good thing in doing this is,...
1. She works part time for me doing forum posts, and other shit. She would get to live there for a few hundred bucks, and I would apply what I pay her to the rent. So she would get a nice upgrade for her and the kiddo.
2. I would somewhere in there, buy another property, fix it up, then rent it out. May live in it, may not. If I do not, then I would just drop the 10-20%, and then non-homestead it.
3. Pick up 1-2 houses every few months over the next 6-12 months depending on the market, and how the first rentals go.
This gives me some diversity, builds up capital, and gives me some 'hard assets' that the banks are always interested in. Especially when self employed, full time, online, and have no tangibles for them to seize.