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Updated about 9 years ago on . Most recent reply
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What would you do with $50,000?
What would you do with $50,000 and less than perfect credit but with 30+ years of residential construction experience? I want to flip in KC, Omaha or Memphis, these markets are all within an arms reach of where I am now and I'm ready to relocate.
I heard that KC has a pretty decent baseball team :)
Most Popular Reply
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Use (don't spend) your 50k as many times as you can. Here's how.
1 - Buy/rehab a house for $50k...sell for $75k
2 - Bank the $25k profit
3 - Do #1 again
4 - Do #2 again
5 - Combine profits from #'2 2 and 4, the original $50, and....
6 - Buy/rehab 2 properties and the same time
7 - Take profits (2) from #6, combine, and...
8 - Buy/rehab 3 properties at the same time.
9 - Now, execute a combination of flips and holds (refi's...use partners with credit if needed), three properties at a time until,...
...your arm gets tired.