If you have 50 to a hundred grand available for investing....
- Thread starter Wise
- Start date
I think you should have put real estate in that exemption list too and franchises
I tried looking for it and can't find it. But the idea was exactly what @beanz said in his post but substitute DR with _____ country in Africa I think it was Tanzania
I've heard about that shyt too. Alot of Africans come over here too and just buy up a shyt load of random used shyt like appliances and what not and just ship it over there to flip. Somebody told me the technology gap is so crazy over that you can get more for a used item over there than it was over here new. Not sure if that's true or not. Maybe some Africans on here can chime in.
You preaching to the choir bruh. Census.gov is my friend. I'd study the stats of zip codes on that bytch for years before I ever even made that move. I would even take it a step further go to that area and pass out surveys to people just asking folks point blank what their eating habits are and if they would support some stuff like that. I do this bruh. I ain't no expert by any stretch but I take making money and this business shyt very seriously.
Yea its a smart investment to make in developing countries. The east coast of DR right now is booming with construction. When I went to punta cana this past summer we drove by so many construction sites on the way from the airport to the resort. New resorts, a mall, casinos, restaurants. Everybody is moving over there for work right now from what the cab driver was telling us.
It's true. People over there still use Blackberries heavy, in fact I'd argue blackberries>>iphones over there. Im sure you could find blackberies here for next to nothing, the only problem is getting them over there and selling them. Doing business over there isn't an easy thing, you gotta have people on the ground over there that you can trust.
This guy who's a chinese product sourcer wrote about how he's met a bunch of African liaisons who come to China to buy TVs and stuff for hotels and and bars that they can't get in Africa:
http://www.youngmoneychina.com/2014/08/the-truth-behind-chinas-underground-wholesale-markets/
I_Got_Da_Burna
Superstar
Here's one.
If you have good credit and a decent enough job, apply for a FHA 203K rehab loan (standard, not streamlined). They will cover rehab costs for owner-occupied homes or multi-family buildings. You can back-end the mortgage payments once the property is fully rehabbed and habitable.
Find a shytty property that will give you the highest ARV (after repair value), get inspectors and contractors to give you an estimate on rehabbing it if possible, and then make a lowball offer to the bank (NOTE: AVOID HOUSES WITH STRUCTURAL DAMAGE). If you get the house, find a trustworthy foreman with a portfolio and references because the bank has to approve the builder.
After you buy the property using the 203k loan, begin repairs as soon as possible. The longer the construction, the more money you lose. Supervise all construction if possible.
In 3-4 months, you'll have the house ready for rental. Rent for 8 months and then put the house on the market. 203k loan requires that you keep the house for a year and that it's owner occupied (it really doesn't have to be--an easy way around is to have your mail forwarded to the property).
Your return, depending on the market, could range anywhere from 50-250k. I did this last year--I was able to flip a house for about 3x what I paid, and I made about 150k after taxes. I'm using that cash to obtain other properties.
If you have any questions, feel free to PM me bruh. This is the abbreviated process....there's alot more to it.
If you have good credit and a decent enough job, apply for a FHA 203K rehab loan (standard, not streamlined). They will cover rehab costs for owner-occupied homes or multi-family buildings. You can back-end the mortgage payments once the property is fully rehabbed and habitable.
Find a shytty property that will give you the highest ARV (after repair value), get inspectors and contractors to give you an estimate on rehabbing it if possible, and then make a lowball offer to the bank (NOTE: AVOID HOUSES WITH STRUCTURAL DAMAGE). If you get the house, find a trustworthy foreman with a portfolio and references because the bank has to approve the builder.
After you buy the property using the 203k loan, begin repairs as soon as possible. The longer the construction, the more money you lose. Supervise all construction if possible.
In 3-4 months, you'll have the house ready for rental. Rent for 8 months and then put the house on the market. 203k loan requires that you keep the house for a year and that it's owner occupied (it really doesn't have to be--an easy way around is to have your mail forwarded to the property).
Your return, depending on the market, could range anywhere from 50-250k. I did this last year--I was able to flip a house for about 3x what I paid, and I made about 150k after taxes. I'm using that cash to obtain other properties.
If you have any questions, feel free to PM me bruh. This is the abbreviated process....there's alot more to it.
I'd say real estate. Maybe buy some small places and rent them out then move on to flipping houses. Or you could just
Exactly. If it were that easy ..anyone with great credit would be buying up houses and renting them out lollove when people say that shyt..."Oh, I'll just flip a couple houses here and there...maybe rent it out", as if it's that fukkin simple
some of the most intelligent and experienced investors have lost hundreds of thousands if not millions throughout their career in real estate...and all of a sudden Joe the lazy leaf puffer is gonna come in and cash out like the slot machines in vegas? nahhhh haaaaaaa brody
I updated no franchising and real estate (thought the Coli brehs had a wider array of thought... but appreciate those who already have given ideas
You want outside the box ideas? Aight...I'll bite.
This is some shyt I've been thinking about. That whole minimalist movement is kinda big with those granola white folks. I wanna start a company that builds those tiny houses. I think the future for that is huge and if I build them the return will be nice too. I'm fukking with my first regular house now and I'm taking a construction class at this juco near me and also teaching myself on the side at the same time. I don't want to flip houses I just want to have a skill with my hands and while doing that recently that tiny house idea just came to me one day while I was smoking. I know it sounds crazy to a lot of folks but I think those white folks will eat that shyt up.
sell your ideas on the coli brehs
It's more than enough out here for all of us. Getting money is no fun if you look around and your people are in bad shape. I don't want to get old and be the only nikka with a check. I want all my folks to eat.