All Forum Posts by: Nancy Brook

So good to hear about your trailer rental, @Leslie A.

Today, someone approached my boyfriend about purchasing a 30-trailer package. They are already rented. I have never considered getting into trailers so it's good to hear about your experience. Of course, we will need to check things out should we move forward. The owner is out of town until next week so hopefully we can engage him once he's back.

Get it under contract and then decide. Great idea. You can always walk if you have an inspection period. 

Another thought, get the property under contract and wholesale to another investor who likes "hood" areas. You may have potential to talk the seller down on the money down. Find reasons to knock down his sales price to say $35k with $7k down. Then wholesale to someone for the $38k price originally presented. There are lots of ways to profit on real estate. :-)

@Brian Adams
How do you qualify for HUD loans and/or a bridge lender? Is it just based on the income generated from the apartment rentals?

Risk vs reward. Great input from others here. If you don't mind putting up with the potential challenges of the hood, go for it. I might talk to some property managers who lease in that area of town for feedback. $10k with owner financing doesn't seem like much to risk. We rent in low income areas but avoid the obvious war zones. Still, I'd consider that deal. If you are not proceeding, hit me up with details. 😀

How are you financing these deals? Congrats by the way.

Anybody do coin op washer and dryer? We are considering that for a duplex and I may add also for my four-plex.

Originally posted by @Shelli Callan:

@Nancy Brookwhere are your properties in Montana if I might ask and why here? Do you manage them your self from a distance?  I hope you dont mind me asking.

We are originally from Billings, Montana, and have a home here still. We just recently sold two rentals and exchanged for four in Florida and Ohio, more than doubling the rental income. (Even had money left over after the purchases!) Billings, Montana market is not good for rental properties. House prices are high compared to rental income. 

Originally posted by @Anil Samuel:

@Nancy Brook Wow that is awesome, are all your properties in FL? SFR?

Eight are in Florida and the rest are in Ohio and Montana. One four-plex, three duplexes and rest SFR.

Exactly right, @Anil Samuel and @Bryan L. There is a lot to be said about taking action when it comes to real estate investing. Whether someone self studies or hires a coach, the onus is on them to pull the trigger.  The first deal was the most challenging for me. But I made it through and now my boyfriend and I own 15 houses together! I'm looking now to kick things up to the next level.