I spend about half an hour in this new training video breaking down the process of creating a 2 for 1 rental opportunity, understanding county regulations, neighborhood covenants, new construction, DSCR loans and market research on whether or not mid-term rental or short-term rental is a better strategy! I even included the actual legal document of neighborhood covenants from the developer, so you know what looking at an official plat and list of restrictions look like within a neighborhood from a titlevsearch.

Testing out the MTR (mid term rental) model for this home we’ve BRRR’ed in Anderson, SC < 2 mins from a major hospital and Main Street! #MTR #midtermrentals #travelnurse

This is the power of collaboration over competition! Just want to share some updates with you all! I know this group is not only nationwide but apparently global, which I am incredibly humbled by and grateful for. This deal is in the upstate of South Carolina just 30 minutes from Greenville, S.C. I am buying this property for $140,000 cash. It’s a 3 bed 2 bath 2 car garage built in 2000 in great condition. Added some interior photos below. I will be paying $30,000 to Jonathan Miller as we worked on this deal together and I wanted to see what’s the most I can pay him as an assignment, because who doesn’t want to see others win. $140,000 + $30,000 + seller & my closing costs = $175K roughly I am going to spent about $6,500 - $8,000 on strong “upgrades” to the property such as, all new LVP consistent throughout the entire home, white interior paint throughout entire house, upgrade all cabinet hardware, fans and light fixtures to a more modern black aesthetic, paint all cabinets (kitchen & bathroom) white, pressure wash exterior, fix a few loose bricks on the front porch and refurbish the back deck. Let’s call it total $185K when you include paying my private lender for a month or two funding it all and things like utilities & insurance. The house is worth in its current value $250K and after it’s simple upgrades will appraise for $255K (conservative comp especially being on 1 acre and all other lots have less land and 1 $255K with less land and less square footage) I will then do a rate and term refinance up to $180K, which is 70.58% of ARV but any DSCR lender will give me up to 80% LTV if I needed it. 2 reasons I only want to go up to 70% $180K is so that A.) I meet my 1:1 ratio on the debt service. (DSCR lenders want to know the the property can rent or cover 100% of the total monthly mortgage of “debt” hence DSCR (debt service coverage ratio)). B.) If I only borrow up to 70% of the overall value, the few thousand in fees can be financed within the loan, allowing me to close on my refinance with zero out of pocket.

I will be breaking down this amazing new purchase from today’s marketing that has all kinds of good concepts to go over! This video will go live in our “Classroom” training modules, so make sure you are leveling up with points here to have recordings unlocked for you! Total all in: $175K ARV to refinance 70% at $255K Under contract today at $140K Lead source: Text Message Marketing Stay tuned for the full video breakdown and make sure you are not at Level Fly On The Wall so you can access it!

GREAT QUESTION from one of our members! Here's my response to why would an investor buy a low to no equity rental property! ➡️ Watch the video ⬅️ in our classroom training modules!