$1 million to invest in real estate - what would you do?
BP- Here is my opportunity. I have been able to attract a $1 million investment from a private source into my newly formed LLC. The terms are that I pay 5% interest per year and have to pay the $1 million back in 7 years. Agreement is that the location has to be NYC, Connecticut or Virginia. I want to start beginning next year.
This is a very special opportunity and I want to be absolutely certain that I have done my due diligence and explored opportunities as thoroughly as possible. I have explored various options:
1) All cash and being more conservative vs. leveraging and being more ambitious
2) Partnering with a larger more experienced equity partner/developer to invest on larger deals vs. doing deals 100% on my own
3) Residential vs. Commercial
4) Buying smaller multifamily homes to buying a larger apt unit complex
5) Buy and Hold vs. Flipping/Renovating
I am intrigued to see what you fellow BPers would do if you had $1 million to invest.
Thanks,
Angel