Investment Info:

Mobile home buy & hold investment in Swanton.

Purchase price: $67,000

Cash invested: $140,000

Mega mobile home makeover. After a $140k reno it's a little paradise on airbnb. Curr...

The Lubbock market is a little slow right now due to overbuilding of new multifamily so you want to make sure that you buy in desirable areas or you may be waiting a long time to get your property rented (or worse, get bad tenants).

Start slow Benjamin but learn.

October to April will probably be 2 night cause it's slow in MYR

Luckily we were able to get approved for same day funding and the sellers got their money later that day.Another complaint we had was the slowness of their underwriting team.

I will take less profit in a hotter area that sells faster than gambling on a small town/slow area with "potential" for higher profits.  

Not carrying water for State Farm here as I have plenty of issues with them but a slow leak is often not covered under any insurance policy. 

Parties dislike bifurcation because it can slow things down at the closing.

If you simply slow it down just a bit you'll also be able to keep the tax on profit deferred and use it for your own growth with 1031 exchanges.Instead of buying fixing and then selling to ratchet up slowly. 

If it is under the 5 yr mark i can always withdraw heloc again to get more rentals but i dont plan on it.