Posted:
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Is very good right now. I just responded to someone's posting and thought it would be good to share my experience. I did more due diligence I think than anyone because that's the way I am...and found a builder in Hancock Cty, MS and we built 2 modular homes. I really liked the area after I visited. The modular home took 43 days from the time I closed. My builder is a connected guy in the area and he got me renters for my house before they were built. With the financing industry really bad, the recovery effort in building from an investor standpoint is very slow. I found that the demand for housing is something else. I literally had my tenants thanking me for providing housing for them. My one tenant(s) is a husband/wife who just got hired at the local hospital. My other tenant is a city employee. I am getting $1250 per month, but offered one month free. I'm getting positive cash flow. I invested $14,500 which I think was 10% plus closing costs and my monthly payment is $1100 per month which includes my tax/insurance bill. I also was informed of the go zone tax bonus, which is nice too if I can qualify for it. So...if anyone's interested I can hook you up with my builder. My total cost was $127,000 for the house. It's about 2 miles from a casino and the beaches.
I do a lot of real estate, stocks,, and bonds...this is currently the best return for me with the sh!tty market we are in
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