389k HELOC… Is land and prefabs the way to go now?

[Julia Szendrei]

Me and my husband live in North Lake Tahoe and we own two houses here. We are looking to add 2 properties in 2022 and have a $375k to invest. We found some apartments in Reno that you can Airbnb but I was leaning towards buying land somewhere and putting prefabs on it because it seems like a great way to BRRR…

What are your thoughts on skipping the rehabs and going straight to a clean slate by finding locations you can tap into (sewer, water, electricity) ?

Ideally we’d love to buy a multi unit in N Lake to Long term rent but it’s very hard to find without over paying and then the mortgage would be insane for locals to cover!