The brother heard it's cheap, so he wants in on the deal.2.

It was not a big deal for him as he already owned it as an LTR previously and furnished it in hopes of using it as a second home when he lived in CA.  

What made you interested in investing in this type of deal?

I'm thinking the liquidity of the HELOC would be great to pull the trigger on a good deal when it comes and I don't want to pay interest on taking out money I'm not actually using yet since I haven't found a property yet.  

There are so many moving parts in a BRRRR deal that you need the security of your primary income.

Hi BP family,I'm looking at a new construction home, single family, in San Marcos that is being offered as a "home of the week" deal by the builder.

There is not much buyers out there buying, on the flip side I have been able to buy 4 properties this month that were really good deals.

I'm actually headed back to my hometown area of Chicago to find my first deal next week.

But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200‬/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).

Our agent has experience dealing with/removing squatters and Georgia just updated their laws regarding squatters.