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Updated almost 6 years ago, 03/10/2019
My millonaire game plan
Ok this is my gameplan to make 100,000 a moth in real estate i want you to tell me what mistakes i could make or what i cant do or what things i should do to improve my game plan. Thank you.
I will make 3mil a month with amazon FBA
I will save 5mil for a downpayment on a primary residence I will buy the house in an equity grown market with 30% discount
In a good area. I will use my dad's credit for it then i will hirr a laywer, tax man to get legal advices. And apply all the tax benefits in real estate such as appreciation , 1031 exchange, refinance etc..
I will hold the house for 2 years or more or 1 it depends because i will do a lease option which means i will rent the garage in my primary for 2 or 3 years while the person builds their credit and buy my home
They will give me a downpayment 3mil 5mil or 10mil it. My mortgage will be 1200 per month
If the person gives me 3mildown they will pay me 1600 a month. If they give me 10mil they will pay me 1200 a montha and it will be a 2 or 1 year lease. After that they will buy my home which means i dont pay realtor fees and stuff lile that. And they will take care of repairs for 2 years because it will be their home. So no repairs and no realtor fees.
Ok so that will happen in 2 or 1 year
But i will also do a seller financing with 2 homes with 15% discount i will cover their payments and i will do a leae option on the 2 homes so if i cover the sellers payment that its 1200 and i lease it for 1500 i make 300profit plus the downpayment. So i would get 3 downpayments in total the primary residence and the 2 seller financing.
I will buy the houses below median cost to be protected. So lets say i got 20mil in downpayments ok i will use 20mil for dowpayment to buy 1 house with my dad's credit and i will buy it with 30% discount if i need to pay repairs and stuff like that its ok because i will also make money on amazon.
Ok after 1 year i will do a home equity line of credit on the 2 seller financing houses and thw primary residence and i will buy 3 more houses with 30% discount
So i will have 6 properties then i will have a track record so i will show people what i have done in real estate and i will use other people's money i will do 50/50 deals with them and i will build a team of experts to do that for me so if a partner has 150 mil in savings and i show him my track record and he partners with me i will use his money to buy 4 properties and i will do lease option on the 4 properties so i will be making 2mil per month but its 50/50 so 1mil for me and 1 mil for her/him.
So if 1 partner makes me 1 mil
How many partners do i need to make
100mil a month???
100 partners = 100mil
¿¿¿What do you think???