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It’ll be a cash man, parking lot, laundromats, landscaping, all cash businesses
Subject Expert
Cash businesses are only worth it if you properly report income… otherwise you’re sitting with a business that no underwriter will touch if you want to leverage it at some future date…
Plus, banking for heavy MSB related activities are difficult to get approved…
Buy a parking lot or small business
Subject Expert
I’d have to be turn key… and people don’t normally exit performing turn key passive income businesses… unless there’s an estate dispute forcing the sale…
Subject Expert
When I was younger I bought a condo in Myrtle Beach… it was the equivalent of a studio for $49,900… I put it on the hotels rental program and it pumped out rental income of $15K/year net of fees… all in I maybe made an extra $5K/year… so a 10% CapRate… it was good, bought a second and a third… but sold them all to buy a primary residence, and rented out the other two bedrooms to a couple buddies of mine…
That was in 2011-2013… prices are probably higher now, but it’s outside of the box vs. a single family LT rental…
These go for 100-150k now with large HOA dues. Very hard to make money in Myrtle in this area now.
Mentor
Wholesaling houses requires significantly less cash than owning your own long term rentals
At the end of the day, it’s a sales job and you really have to be a People’s person