Sold a house to a
20 something client today:
$90k sale price
Rehab loan $35k
After repair value: $185k
She will live there for 2 years
and do it again;plans to
lease it as air bnb.
This is a great way to buy
real estate in your 20s.
20 something client today:
$90k sale price
Rehab loan $35k
After repair value: $185k
She will live there for 2 years
and do it again;plans to
lease it as air bnb.
This is a great way to buy
real estate in your 20s.
Next level: Getting a roommate to cover half the mortgage.
Next next level: teach others how to do this (I told her she should document the process & craft a course), and find the property for others and flip them the contract.
Let's run the numbers.
She will have put 5% down.
She will end up with a 30%equity position.
Her total payment(with Taxes /Ins)
willl be approx 900/mo
In a home with a $1300/mo market rent.
She will have put 5% down.
She will end up with a 30%equity position.
Her total payment(with Taxes /Ins)
willl be approx 900/mo
In a home with a $1300/mo market rent.
