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Updated 2 days ago on . Most recent reply
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I need help
I have 6 rentals all cash flowing and a primary house appraised at 1 million that I paid 600k for. I bought all these houses using a method in which I utilized life changing events to buy new primary houses where I put 5 percent down so don’t have much equity. My uncle is trying to sell me a mobile home park for 500 k that profits 84 percent . I need help getting the financing and I’m not sure where to go from here
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Mike Grudzien
#5 Short-Term & Vacation Rental Discussions Contributor
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You sound very, very leveraged. Which is not bad, but extending out even more could come back and bite you later....