So I am in the process of liquidating my inventory. I had 2 houses that I bought using the 25/1 strategy and was holding them while i collected rent every month.
This was my goal. To sell for a profit.
I bought the first using money I borrowed from a client of mine but at an unfortunately high interest rate. When all is said and done I will have made $6000 while investing none of my own money and still collecting rent of close to $800/mo for the last 16 months.
The other deal I found while making offers when a deal fell through this one was the backup. I closed my IRA and borrowed $6000 from my parents. The deal cost me $14,000 of my money and I will have made $11,000 in 13 months while collecting rent for 8 of those months.
With the proceeds I am able to buy a gym in the city I just moved to and pursue my passion of treating metabolic disease with exercise. I attend a local REIA every Mon and another REIA 1 Mon a month. I still consider my self a wholesaler and have built my list up over the past 5 mnths since moving to a new place. I now get to spend time with my son and have a life outside of the gym as a working investor.
Rolling Right Along
May 8th, 2013 | posted by Andrew Nelson
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