Honestly, even if I rehab 4 houses/year, that’s only $80,000/year.
I need to make more.
Redstar,
JUST START SOMETHING!!! With all the time that you have wasted with analysis paralysis you could have flipped or wholesaled a couple homes by now.!!! :banghead
Hi,
One million pennies is $10,000 dollars! Two million pennies is $20,000 dollars! Five million pennies is $50,000 dollars!
So go make millions! (Of Pennies)
GR
You can only do what you can do. If you want more than you can do you must leverage yourself. If you are flipping houses you need to hire more crews. If you are rehabbing houses to rent you need to look at multifamily.
I will do most of the work myself.
Actually, I’m having trouble finding houses in my price range. Just because you SAY it’s easy, doesn’t mean it actually is. How many houses have you rehabbed?
I’m thinking of searching foreclosure auctions.
Just because you SAY it's easy, doesn't mean it actually is.
I never said that it was going to be easy. However, you will NEVER be successful unless you get rolling. Take that first step, break the ice. Trip and fall and skin your knees. They will heal.
Unless you take some initiative and make a move, you will be in the same place tomorrow that you are today. :beer
Except that if I mess up on my first rehab, I’m out of the game for good.
I think I am over thinking what it takes for a house to be a good rehab candidate.
I just need to pick a cheap one and do it. Maybe an expired listing.
I believe that I can do the rehab for cheaper than most simply because I’m doing most of the labor myself
All it will take is for me to get comfortable picking houses. I don’t think that is far away…
Where is the like button?
Gosh, only $80,000 a year. That’s hardly worth getting out of bed in the morning. Maybe save your effort and sit in front of the computer all day instead. Who could be bothered to do any work for only $80,000?
Somebody recently told me I could make $240,000/year wholesaling. I’d rather do that.
You can make $3M rehabbing. You should do that…
How can I do that?
If you made $240,000/year wholesaling, what amount of taxes are withheld from that?
Also remember there will be operating costs to subtract
It’s still better than $80,000.
Build a business that does it…
Did that even make sense? How do I do that starting with $20,000?
I’m doing it starting with nothing. Well actually my initial $500 bandit sign campaign. I know many millionaires in this business, most started with much less than $20,000…
You don’t just wake up one day a millionaire.
And where do you get the money to rehab the house? You would need $20,000 for down payment and fees on even the cheapest rehab house.
Wholesaling is the only way to make money from nothing that I’m aware of.
Or are you going to sub2 → owner finance your way to millions? At $200/month/house?