A group of new investors pooled $50,000 to buy and rehab an abandoned property using hard-money financing. They flipped it after eight to nine months and made a 40% return on their capital with minimal risk.
So the goal was, because we were all newbies educating ourselves through just quick speakers coming in and teaching us about stuff, what they were trying to do was learn with minimal risk. So I think the pot, we leveraged it with hard money. I think the pot that we put together was, I cannot remember, maybe it was like $50,000. Some people put in $2,000, some people put in $10,000. And then we took that money, leveraged it with hard money. Bought a rehab, a Bando rehab, and flipped it. So at the end of the day, our return on it, we were only in the deal for maybe like 8 or 9 months. Our return was 40%.
Episode 575: Redefining Retirement as the Day All Your Choices Open Up with Doug Bennett
