Student Rental Gives Me Over $1K Every Month In PASSIVE INCOME

[imyourlinkdotcom]

Cool

[MrPatchesOhoulihan]

How could you possibly know that your property is worth $450,000? Because your appraisor told you it was. You don't really know what it's worth until you actually sell it.

[Chessnha]

How did you finance the initial $ 135K?

How did you finance the renovation 175K?

ARV = 450K: can you really sell for 450K?

Please let me know, I am really interested

[streettraining]

I don't know but I can only asume that both the initial buying costs and the renovation costs were funded through a private investor. He mentioned he had a JV partner for this, so I'm guessing he put up the money. The 450k will have been worked out prior to the renovation. Property is predictable when you know what to look for! They would probably have then mortgaged this to release the money back, then split the excess. e.g; 75% mortgage of 450k = 337500 = 27500 profit

[Chessnha]

@streettraining thank you for your answer. The private investor gets his money back (morgage) and want to make some money for bringing up the risk-money. And the renovator rents out to students and pays of his morgage with the cashflow. If we estimate the ROI of the angel over 15%, AND take rehabwork&managing the studenthouse into account, it is not easy money, but still: bravo!

[streettraining]

Yeah... I mean I'm guessing, but if you put the right systems into place and grow the business, most of the work for upkeep etc can just be outsourced or indeed insourced by employing people. I know a guy in the Uk who has about 70 HMOs and he has it all systemised is such a way that his day to day work includes none of the landlord chores, he's just an investor, doing deals, and living the life!

[m1leswilliams]

@streettraining I met a guy doing the same, systemising when it comes to HMOs is needed or it becomes more than a full time job.

[streettraining]

lol... oh yes!

[m1leswilliams]

I'm sorry but you do need money, even if you get it all back within 6 months, you still need the money in the first place.

[streettraining]

yeah but it can come from elsewhere... its a common misconception that the individual needs money in order to get into property... if you know what you want to do then there are plenty of investors out there who will lend it to you... so yes you need money, but not necessarily in your own bank account

[m1leswilliams]

@streettraining Then you are "getting into property" like a decorator gets into property when I get him to renovate one I'm flipping. You are just working for the investor. And no investor is going to take a punt with someone with no track record without taking more than 50% of the profit.

[streettraining]

they will if you know where to look... also, i tend not to require an investor as my strategies dictate a NMD outcome, so therefore no money is required at all anyway.

[airolink]

Invest in student housing myself! Just like I do it!

[artsuk]

Very inspiring! Keep going Doug!

 Thanks for everything.