How I Ditched My 9-5 and Grew to 32 Units Since 2020
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Who says it’s tough to grow a portfolio during pandemic times, not Russ Mosley. Find out how he grew from getting started to 32 units since 2020.
What strategies are working?
Whether it is a fix and flip, buy and hold, apartment building, or a mobile home park – you need to understand the right strategies.
LeAnn Riley interviews Russell Mosley on how he left his day job and jumped in investing full-time.
Watch to hear about:
• Using leverage the right way
• Flips, Holds and Mobile Home Parks
• Secret to higher rents
• Numbers make the difference
Investing Strategies That Work
Fix-and-flip is simply buying a property in need of repairs, remodeling it, and then selling it for a profit. You need to understand the formula for this. It includes accurately estimating repair costs and knowing your After Repair Value (ARV). You also need to know how to fund the deal. Many times, you are competing against cash buyers, so figure out how to be.
2. Buy and Hold
Buy and Hold is a longer-term approach. You buy, rent, and hold it. We suggest you always buy for cash flow, but the play here is to hold for longer term appreciation. Plus, you get great tax benefits. A great inflation hedge, let the tenants pay down your mortgage while you benefit from the appreciation! Lots of smart investors use this approach to build generational wealth and live off the passive income.
BRRRR stands for Buy, Rehab, Rent, Refinance, Repeat. This is a similar strategy to Buy and Hold, but the emphasis is here to get a value-add property. Find something that needs at least cosmetic updates. This is a great way to leverage what resources you have now and build a portfolio fast. It works even faster if you can live in the property for at least a year.
4. Section 8 Rentals
Some landlords are concerned about Section 8/Government Subsidized rentals. Yet, many benefits can be taken advantage of.
Consistent, guaranteed monthly rent
Larger tenant pool
Added incentive to tenants to comply with rules and pay rent
Possible higher rents than market.
If used correctly, this can be a great strategy that many shy away from.
More specifically, we are talking about apartment buildings 5 units+. Apartment buildings tend to do better in an economic downturn then other investments. The rents typically outpace inflation rates. It is also easier to scale by buying more units at one time.
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