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Updated about 6 years ago,

User Stats

33
Posts
18
Votes
Stephen A Binion
  • Rental Property Investor
18
Votes |
33
Posts

Hi, I’m Stephen in Ohio.

Stephen A Binion
  • Rental Property Investor
Posted

Not a new investor. I've been a landlord for a decade but not crushing it. Had I known of the BRRRR method then.....

First deal was a duplex that was bank owned. County taxes had it as a 2  11/2 on each side. At 64 k it seemed expensive for the area. I drive by and looked. It had too many bedroom windows to be 2 1 1/2.  I got access and sure enough it had 3 beds 1 full bath and a half downstairs. Also had finished family roms in the basement.  

I bought and held for a while till the neighborhood started to drop. I sold at 110k due to the bedroom count going up but not the taxes as the county didn’t get informed of the error. 

I have 4 single family homes near my residence and a farm with a double wide mobile home on it 45 minutes away. All are free and clear  

In the very near future I'm going to increase the number of mobile homes at the farm as there is a septic tank for 2 more trailers and Refi my owned houses to BRRRR some more near me.

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