Before enrolling in the Armando Flip and Grow Rich Program, I purchased the home I currently live in through a sheriff’s sale in 2006 for $50K. It’s a trailer on a permanent foundation that sits on 10 acres of land. I was able to take $180K out on a refinance, which I have used for all cash offers on other investment properties.
I have purchased some empty lots in the past as well—one that has 10 acres that are not sub-dividable.
I spotted the second property (trailer on foundation) in the paper that was also being sold at the sheriff’s sale, which I purchased for $60K. It appraised last fall for $208K, which I have borrowed against as well. I expect to spend around $13K on repairs, and I’m hoping to sell it for $220K. There is definitely room for good profit on this property.
I also purchased a third property (single wide trailer without a foundation) for only $25K, and I plan to fix it up for $10K, and then I’ll have a $35K rental property (1400 sq. feet) on one acre of land that will cash flow nicely.
-Cliff from NV
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