Hello, as it turns out I'm about to sell a property. I'm going to effectively have just over 1m dollars cash money to invest in something. What would you do if you were me?
If you leverage well, you should be able to buy roughly $5mil worth of income property, which sounds like what you're looking to do from the highrise comment you made.
You may also consider commercial office and retail space. In many cases they're easier to manage than multi-family and leases can be much more attractive to investors as many times you'll find NNN style leases.
You may also consider spreading your cash around a bit and buying a few smaller properties. A lot really depends on what market you're in.
there are so many ways you could leverage that money and make tens of millions of dollars... I hope you don't even consider buying a high-rise... that would be throwing your money away...
Hello, as it turns out I'm about to sell a property. I'm going to effectively have just over 1m dollars cash money to invest in something. What would you do if you were me?
why is this in the starting out fourm, did you do this on your first deal? If so tell us how?
there are so many ways you could leverage that money and make tens of millions of dollars... I hope you don't even consider buying a high-rise... that would be throwing your money away...
Why would a high rise be any different than any other deal? A good deal is a good deal in my book. Each deal needs to be looked at on a solo basis and shouldn't have a blanket cast on it that deems it bad just because of the property type. All building types obviously have pluses and minuses, some work for some people while others work for other people. I don't see how buying one would be throwing money away.....
Hello, as it turns out I'm about to sell a property. I'm going to effectively have just over 1m dollars cash money to invest in something. What would you do if you were me?
First off, great job!
Personally I would....
1) Give portion to one of my fav. charities (Caring House Project)
2) Put a portion in a CD/MM
3) Re-Invest much of it back into my business....Real Estate :)
4) ENJOY IT! We're in this business first and foremost to **MAKE MONEY** You did something great, now treat you and your family
to something all would enjoy.
well I don't have money yet. I put my building here in town up for sale. So far I have some good offers but I figure I'm only going to sell at my price, or no deal. I'm also considering the idea that I could just hold the building and do some substantial rent increases here by the end of the year. That way it would actually be bringing in some okay cash flow. However, not as good cash flow if I was to say sell, and then use the funds to buy a big building. I guess I'll just keep trying to sell it for now.
I am fairly wealthy. Not to boast, but I do exactly the same thing as before I achieved wealth...except: I don't get up too early. I trade the stock market a bit before noon. I do real estate stuff from 1pm till about 5 pm ie: I make the rounds to my many buildings and check on contractors doing work for me. I maintain my many websites in the evening for additional income and fun. I have a motorhome, Yukon SUV, Cobra Mustang, Monte Carlo SS, 3 pickup trucks, 2 vans and a modest 1500 sq ft home. Otherwise I do not waste money on uselessness, booze or dope. I simply reinvest cashfow into more real estate. Money has not changed my mindset. However if you do not know how to save money you will never be wealthy.