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Updated about 3 years ago on . Most recent reply

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3
Posts
1
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Audrey March
  • Miami Beach, FL
1
Votes |
3
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Are we stuck without tax return ? What to do next ?

Audrey March
  • Miami Beach, FL
Posted

Hi everybody !!

First off I gotta say I’m so happy and very grateful to be part of this amazing community. 

I started getting obsessed with bigger pockets last year and I sold my condo in Florida to start investing. since then I bought a mobile home park (thank you @brandonturner) for 100k put few thousands Into it and now it brings $4000 monthly. (Pretty proud of that deal) and I bought a manufactured in a beautiful scenery in NC. I bought it cash because it didn’t have foundation so I had a great price. Had foundation built now it’s worth double and I rent it out $1500 monthly. 

Yayyyy!!! All thanks to bigger pockets. But now I’m stuck. My rental business is only a year old therefore it seems I can’t get a bank loan before I get two years of tax return. 

Any savvy experienced investor could suggest solutions I might have not thought about ?

So far I’m thinking I either have to wait a whole year to make more moves or I have to sell the manufactured home and maybe put the 150k I get out of it as a down payment for a multi family building. 

What do you guys think ?

Thank you for your suggestions. 

Audrey March

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