Classic “know your why” answer.

Hey Bigger Pockets,One of my goals for this year is to do the classic tried and true method of buying a duplex with a FHA loan. 

But when I got to B&N, I found 2 versions: the classic edition and the workbook paperback version.

You take a 6% cap rate, finance it so you can squeeze 9% or higher CoC (i.e. classic leverage strategy).

Info On Property:- $260k- 10 Acres, wooded lot/old growth w/pines, mostly flat, dirt road access, in between two devolved lots- Just over a mile from a classic Maine beach, in a beautiful coastal area close to many beaches and Portland, ME- HOA allows 1 dwelling, no subdivisions.- Neaby homes sell for around  $600k, and towards $1M- Property on the market for over a yearQuestions:What’s a good way to organize thoughts on a deal that goes from wooded lot to selling the home?

He has 5 classic cars sitting under tarps around his yard.Anyway, I think the county sets the rules.

Generally you can't go wrong with any of the books featured here on BP.Outside of that - Garry Kellers The ONE Thing is one of my favorit buisness books.And Rich Dad Poor Dad is a classic of course.

If you want to compound money overtime, I think the classic BRRRR that everyone talks about so much on these forums, will accomplish that if you buy right, and understand each step in the process and what has to happen for you to hit the numbers you are looking for.I personally think the auction idea would be a nice option, you having a high risk tolerance and all. 

I think we will also partner with OpenDoor and be able to make an iBuyer offer as an alternative to classic brokerage services.

My taste tends to be more classic, but I do think it’ll help to set us apart from builder grade finishes.