Rehabbing Resale In A Rental Market
I currently have one rental under my belt (long term investment situation). I am at the point of 2 realtors helping me out(one of them is my mom), private lender contact for no money down, and a traditional lender for financing potential buyers. I was looking into a rehabber here in jacksonville, but noticed most of the houses I can get to rehab are more suited for renting out (low income areas like hud rentals). I will eventually aquire some of these, but would like to rehab for resale for a short-term return. Given you can get positive cash from $50-$200, how can investors make a living at rentals?
I think the trick is to have so many of them that it adds up to a decent amount. Otherwise they are looked at as long term investments and not necessarily as income producing .........It would be nice but I dont see myself ever being able to live off of just rental income unless I have properties 100% paid off and ALL rental income is coming into me.......this takes time . Buying and selling a few until the equity is sufficient to buy outright........curious as well as how others might be able to do it
B