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Hey @Alton P. think about protecting your cash first (ULI, 401k, etc), borrow from your protected money for your down payments. You have enough to spread out between retirement and cash investments.
Figure out what kind of an investor you are first. How much risk you are comfortable with? Do you want all your eggs in one basket or spread out over many. How much of a "job" in RE do you want? Is it important to own trophy properties or are you okay with something a little less glamourous? You either pay for education or you pay through mistakes.
You are very well positioned to hit your 6-figures. If this is your end goal, without creating a job, I think MF is a fantastic approach. What you would spend on a few STRs you could easily buy an apartment building, Mobile Home or RV park leveraging commercial debt. In these you could hire a professional property manager and immediately get to your six figures.
Buy first where you don't want to live to generate a lot of cash flow, use the cash flow to buy where you want to live. And when hacking a MF do not let your lender know you are moving into it!
Use the cash flow to buy your STRs later if that is a business you want to build - STRs are a business. Investing in different niches and different markets will help spread out your risk. Different types of real estate hurt in different market cycles and are also affected differently from disasters, pandemics, fluctuating rates, etc
Gulliver, another way to build some quick capital to bring in new units is approach any existing park-owned-home renters and see if they are interested in buying the home. Century 21 will do loans as low as $10k on older homes. Many times the loan payment is less then rent.
I have had luck bringing in older homes to my parks by finding them from sellers on Facebook marketplace and through leads from movers.
This can work in some markets, where mobile home value is more connected to where it is located rather them the home it self (like beachfront lots in Malibu, Ca). You have to be VERY careful because lot rent is due every month (good for park owners!).
If you are planning to buy to hold for rent in a mobile home park that you do not own, you will not find financing.
Are looking for money for a current or future deal? Or maybe you are thinking about lending out your own money?
Before doing so, ask our panel of professional OPM sources on Wednesday September 19th.
Both hard money and private money will be represented. We will get into the details of what they are looking for and more.
Some of the items they will share include:
- who they will or will not lend to, - what they look for in a borrower and a deal, - why they might turn down a deal or a borrower, - when you can expect to get the funding and close escrow, and - how the entire process works from underwriting to funding.
You will also learn what happens when a deal goes bad and how to manage things to keep you OPM happy.
Bring your questions and your notebook!
About Our Meetings… Sacramento Real Estate and Investment club Meetings follow the same general format every month:
6:30-7:30 pm: Come early for NETWORKING (Bring business cards!) 7:30-9:30 pm: MAIN MEETING (including market updates, live investor profiles, a one-hour speaker presentation, and much more) 9:30 pm – On: Stay after for MORE NETWORKING
As always, FREE to Annual Club Members, $20 Non-members (Pay at the Door Cash or Credit)
Where? At the Sacramento DoubleTree Hotel (Across from the Arden Mall) 2001 Point West Way, Sacramento, California, United States 95815
To find us, ask the front desk where Capital City Wealth Builders are meeting (and for a free cookie!)
Our full-day, immersive event allows adults (both young and old) and kids (if you have them) to get together, have fun, actively strategize as a team or family, and put to use some very powerful financial skills.
Whether you have no debt or drowning in debt, the Family Bank Game shows you how to change your financial approach. You’ll learn how to take control of your spending and savings and pay yourself double digits returns instead of the bank. (You will become your own bank)
The Family Bank is a 200 year old financial strategy used by the wealthiest and most powerful families. Very few people understand the significance and power of the Family Bank. Even though it is simple to implement, it goes against everyone’s basic financial conditioning.
Family Banks have been used for centuries by the 1% like the Rothchilds, Waltons, Johnson & Johnson, Mars, etc… You can start your own Family Bank today with the right know-how and whatever you have to work with.
The Family Bank Game takes this strategy and teaches everyone how to do this in an active fun hands-on game.
Not long ago family businesses were used to teach financial skills and success habits to kids. These businesses gave kids a “leg up” on a successful life without giving a handout. Wealth was transferred through business equity, assets, and know-how.
Something broke the system, families became more mobile, career paths are more fluid, resulting in the concept of a family business “going out of business” causing a pervasive challenge: “Generational Poverty.”
Today, each generation starts from scratch, trying to reinvent the wheel. Ask yourself, what will your legacy be?
Institutional banking and predatory credit companies start teaching the debt lifestyle to people at a young age. PLUS there is a lack of real financial education in schools. Typically kids first real taste of banking comes through credit card vendors at the quad in college.
These financial “poverty lessons” are being passed from one generation to another.
Generational Poverty occurs in families where at least two generations have been born into poverty. It happens because the majority of the world learns about finance from their parents and extended families.
It was clear a new form of financial education was needed and our mission was born – to stop Generational Poverty! With these strategies you can see big change in one generation.
Through a game-based, immersive learning event we teach families (or singles/couples) how to start, run and maintain their own Family Bank.
It’s easier to learn and remember what you learned when you are having fun! This game is designed so you won’t be able to forget this.
Whether it is just you, you and a sibling or spouse, or perhaps you have five kids – these strategies work for everyone.
Capital City Wealth Builders is thrilled to be chosen by George Antone to host The Family Bank Game here in Sacramento! We hope to see you and your family at the next game!
Whether you are buying a deal, selling a deal or talking to an investor the right techniques and process are crucial …say too much or too little, it won't work. Learn from Eric, our local sales master who has helped generate nearly $500M in revenue in the last two decades!
6:30 PM to 9:30 PM Sacramento Doubletree Hotel 2001 Point West Way, Sacramento, CA
Check in at the Table with the CCWB signs! As always, FREE to Annual Club Members, $20 Non-members
Schedule:
6:30-7:30 pm: Come early for NETWORKING (Bring your biz cards!) 7:30-9:30 pm: MAIN MEETING (including market updates, live investor profiles, a one-hour speaker presentation, and much more) 9:30 pm – On: Stay after for MORE NETWORKING
