Sub 30k investors

[Taylor K.]

For all you investors that are buying cheap properties 30k and below, I want to hear your story! 

How did you get started and with how much cash?

What does your portfolio look like today?

What are your future plans?

I'll start and say that I have not bought any properties yet but looking to buy my first soon. Starting with about 30k.

[Omar Ismael]

Great advice Lisa Phillips, sub 30 k deals are not for everyone.I am about to close on 3 REO sub 30k deals , a 2family in Newark Nj which needs 25k in rehab ARV on that property will be 120k , a 2 family in Irvington NJ for 28k which needs 20k in rehab ARV on that property will be 100k and another 2 family for 21k which needs 25k in rehab ARV will be 95k . I should be closing on these cash deals the first week in October .The ARV on these properties are conservative . Planning on doing a cash out Refi on these properties as soon as they are rented out. I did a cash out Refi with Wells Fargo 18 months ago on a REO single family house I bought for 23k in the same area the Rehad cost was 15k . Wells Fargo appraised the house at 115k and allowed me to take a loan at 65%LTV. (I could have taken out up to 75% LTV ) . i used that money as a deposit on a 6 unit building 4 months later in the same area . I don't only invest in these area I also live there . I am about 5 mins away from all my properties