So is it possible to do business in real estate by finding properties that have run into sinkholes? appear to be…
So is it possible to do business in real estate by finding properties that have run into sinkholes? Turns out there are those who do just that
Amanda Young got caught up in real estate. After being released from work, dealing with her son's family emergency and homeschooling, Amanda knew she had to find a way to support her family, but also allow her to discover her hidden end.
After finding BiggerPockets and joining the local REIA (Real Estate Investors Association), she decided to take the leap and buy her first rental. Now, in 2020, it has 7 properties for rent and a thriving business is thriving, working with a partner that matches its energy.
Amanda found her local niche by contacting the owners of “homes for sinkholes” and offering them deals that not only made sense to the buyer, but were theft for her. She then used creative (really creative) funding to get a contract for these homes.
Amanda is the definition of someone who has gravel, and is willing to work hard to earn their piece. She talks through section 2 deals, 1031 sub-exchanges, refinancing and even how to “prove” your tenants so that when the next global emergency occurs, you will be ready.
https://www.biggerpockets.com/blog/biggerpockets-podcast-422-amanda-young
The original responses to the post can be read at the bottom of the current post page on the site or in the link to a post on Facebook and of course you are invited to join the discussion
Pretty amazing what she does with homes with sinkholes. Very surprising