So I immediately sent the info to my preferred agent he disclosed some information that they owed several years of property taxes and were motivated to sell we settled for 90k I took out my first ever mortgage loan which was a conventional loan 20% down 5.6% interest rate and for 120 months payment of 768 acquired property 06/13/2020 immediately hired a contractor with a dozer to take down most of the brush.

Initial plan was to develop & subdivide upfront costs and difficulty to acquire loan for construction and utilities would make me change plans.

Each unit rents for $1,500 per month and I was able to acquire the property as a brand new construction for $790,000.

My name is Bruno and I am in the beginning stages of acquiring my first STR in the Disney area.

Once I get there my goal is to shift and work 50% more on building our STR business by acquiring more properties!  

After you buy a few properties FHA will say no more FHA loans because they don't want you to use FHA to "acquire an investment portfolio".

For example we acquired a side by side duplex that was built in 2010 in Leominster.

Thinking about going to see how it all works and taking notes to see if this is a good way to acquire some rentals or flips. 

Leveraging properties to acquire other properties is something that can be a huge wealth building tool especially when acquiring assets that are multifamily. 

Property acquired and went live for rent today!