All Forum Posts by: Porsha Thompson

The reason we invest is to make a return on your money

There are many assets to invest in real estate, businesses , stocks etc.

Historically the the highest returns on all investments are 12-13% and the average is 7% return in your money 💰

I am a real estate investor/landlord that have a rental portfolio that consists of 2 mobile homes (i developed both meaning i had the trailer pulled and put on vacant land) that generates $1000/monthly , Own free and clear

I also own a failed brrr single family home rental that that i have a conventional loann on with a mortgage of $248 and rental income of $900/monthly, and 2 vacant parcels of land

I’m trying to grow my portfolio so I’m now looking for partners that want to invest into duplex/ single family development. I would be the boots in the ground and attend meetings and handle permits .

In return to my partner they would receive a 7% return on their money plus an additional 50% split of the profit we make off sale.

If you know of some investors that may be interested tag them and if interested please PM me.

When I had a property manager the first 2 yrs it rented for $900 a month I’ve been advertising myself since it’s been months and the property management hasn’t found a tenant the brokerage fired the woman that managed my property and with this new one my property had been vacant over 5 months. I’m advertising for rent $745 now and I was going to use rent refi since I already use it for another property but I have since gotten in contact with the lady who used to work for the brokerage and she still does management on the side. Since she lives in the area and I live 45 minutes away so I was considering letting her manage again

I purchased what I thought would be my first brrr when interest rates were at 4% when I kept hearing buy,buy now , buy.

A 3br 1bath $30,000 I was thinking where can you get a whole house for that cheap so this must be a deal so I bought without an inspection or appraisal.

After I closed I realized I needed a roof and a some rehab , now realizing had I got an inspection ($500) i would have known if and what was wrong with the house.

So I’m thinking well after this rehab this house should go up in value and I’d be able to cash out refinance and get my money back. Not fully understanding that an appraisal was needed to tell me the value of the home and nearby comparables before I bought so when I went to refi the bank ordered an appraisal which came back at $42,000 so with the 20% down I put that made me owe $28,000 and by the time I cashed out and paid fees I wouldn’t even be ghetto g what I put in back

So I did the only thing left to do was to rent it out using a property manager and cash flows $500 cash flow for a yr but the last tenant moved out and it’s been vacant for the last 6 months.

Should I sale or any ideas on how to get this home rented out cause I’m coming out of pocket the $248 for the mortgage and it’s becoming a financial problem 

I have a builder with a team . I already have all 6 streets of blue prints . I was subbing everything just basically putting the deal together and managing the whole process

I was wondering what is it called to and/or is this a thing. I know a person with alloys of land. I wanted to introduce to them an investment opportunity that would provide them the ability to use tax strategies and also gain passive income while building wealth and growing their legacy. Now I’ve never done a construction deal but.. I’d handle and manage the whole construction and development for them and once the property is sold I’d get a percentage. Or if they are holding the real estate I’d get a developer or subcontracting fees or whatever.

does adding inquiries to increase credit limit in order to lower DTI during underwriting mess up the whole loan?