Our model is going to pretty much be a take on BRRRR:- He finds a property we both agree on - I pay him a finders fee- He renos the property - I pay him 25% contractor fees- (I refinance) - He then manages the property for me for an additional 9%Final payments are not made until the property is rehab'ed and rented to make sure interests are aligned. 1.

Hi BP,There is a lot of talk of a crash or at least a correction being imminent in the near future, so my question is mainly for investors who survived through the 2008 crash, since you've been through it before.

If Buyer timely terminates this Contract, the Deposit paid shall be returned to Buyer, thereupon, Buyer and Seller shall be released of all further obligations under this Contract; however, Buyer shall be responsible for prompt payment for such inspections, for repair of damage to, and restoration of, the Property resulting from such inspections, and shall provide Seller with paid receipts for all work done on the Property (the preceding provision shall survive termination of this Contract).

The VA was in crises mode with medical appt back-ups and wanted to throw money at placing homeless Vets.I don't need all that, I said. 

I was thinking of doing exactly what you proposed (getting $$ out of paid home), but am realizing I'm stuck in fear mode.

@Jeffrey Ward so I’m still in “learning strategies mode” so please correct me if I’m wrong.

One of the best parts about having a good model is that it'll save you time, which you can use to bid on more pools more quickly and to make adjustments on your bid depending on the intricacies of individual notes.

If you have enough to survive 2 years of low occupancy during a recession, then house hacking may work in this environment.

Two years later my father was hijacked, stabbed and left for death on the side of the road while driving his cab in the middle of winter (he survived thankfully.)

The rent is $1,000 per month, The barber shop is on a one year lease, and I doubt it will survive the Covid crisis since they still hadn't opened their doors prior to the shut-down.