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Updated almost 5 years ago,

User Stats

1
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0
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Wayne Clark
  • Contractor
  • Sneads Ferry, NC
0
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1
Posts

Newbie but already have properties

Wayne Clark
  • Contractor
  • Sneads Ferry, NC
Posted

We currently own three properties. I own a construction company and my wife is a real estate agent so we have our feet wet but learning new tools for the toolbox.

Property 1: short term 3/3 with a bonus game room and bunks in surf city N.C. it was a steal of deal and a complete gut and remodel. Investors loan fixed and would have more than likely the most equity.

Property 2: 3/2 single family in military town in a equestrian neighborhood. Bout got off the market under value. Great rental rate with decent return.

Property 3: 2/1 on land. Currently back renting to prior owner on a 6 month lease. We subdivided the property and have all company trucks, trailers, equipment and a Shop.

Looking to see what information would be needed from these to try the burr method. Also recently heard on the podcast that since we manage property 1 we can roll it to a second home loan. Does anyone know that to be true?