All Forum Posts by: Miles Presha

I feel you, Swanny.  Let's keep in touch, man.  I'll need some advice when I'm Ohio bound!

Wow.  I've been looking at Ohio, too.  As much *** the turnkey looks great to me, I think the apartments is prob the way to go.  Being successful isn't easy.  I will have some sweet equity once I close on my house.  Are you one of those go big, or go home guys, or do you suggest 4 units to start out.

Thanks for your feedback!  Continued success!

Good for you bro.  Is this strictly done through multifamily, out of state, turnkeys?  What'd you start with first?

I live in L.A., so investing here is pretty much out of the question.  Thinking about starting w out of state multifamily and turnkeys.  What do you recommend?

Thanks for the input. I don’t expect that 150!K to be magic. I do think I can use it as a good down payment in something that will at least get me started on some good cash flow. Enough to get me another property - prob multi family that will eventually get me to my number. 

I know this will take time. But that’s why I have the goal!

Thanks Edward. My wife says the same.  Been doinG some research and the numbers are looking good.  Curious to what other pros think. 

Hey folks....

I'll put bullet points to spare your brain...

I'll be coming into some nice equity soon - prob 1-200 K when I close on my fixer.  I am living there now and still need a few touches to bring the house up to par.

1. still needs a new roof, exterior paint, and kitchen upgrades. Want to build out attic which would triple value of the house

2. Would like to take a HELOC at some point to put 100-150K in cashflowing investments

3. I live in L.A. so considering out of state

4. Have done some mobile home investing  - takes lots of work but has cheap buy in

5. Binging on education  - Turnkey, Multifamily, Mobile Homes, modular

6. What to do?  My plan is to generate 15-20K in passive cashflow a month as my target to leave the rat race  What's the fastest way there without having to be super active?.  Willing to do some traveling, but mostly as checking in on properties

Whaddya think?  

thanks for reading,

Miles

Will I read somewhere from a realtor that modulars had the same resale values as typical homes. Even if I had to finance one on a lot - it might be worth it to put a 3-4 unit band new. Another thing I'm looking into is putting a modular ADU in my back yard (which is huge). They can be as big as up to 1100 sq ft. You can get some sweet rent for that in L.A.

Hey, guys...I too have been looking into the whole modular thing.  I owned and sold/rented a few mobile homes, and somehow today I came across mods and am now binge searching all day.

I'm out in Cali, and out in the inland empire land is cheap.  Thinking of putting some modular multi family units out there.  Looks like they can be financed as well. So...maybe leverage the land and the home then rent out?  Not sure if this is possible but I'm gonna research it.  Keep ya posted...

hit me back with any thoughts.

Cheers,

Miles

Ned, 2 liens.  Johnny has one and the seller has one.  The seller's will be knocked out once Johnny closes on the house.  The problem is Johnny getting a loan approved with that IRS lien.

Got it, guys.  Thanks for the insight.  I think Johnny will work on getting that lien lifted, and extend the option for the time being.  Once he is in the clear, there will be more options.  Keep ya posted!