I will be working abroad with 2-3 months off a year to go back to the states and look for an investment deal. Will have roughly 100,000 to invest in. I am thinking about purchasing a duplex or triplex. What is your thoughts? Would you go a different route? All suggestions and advice will be much appreciated.
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What to do with 100,000 dollars?
11 posts by 8 users
No set in stone goals right now. Just looking to make a good investment that will generate a solid cashflow.
I'm still an amatuer myself, but from everyting I've read setting a specific, defined goal is step #1. It should be very precise, like how much cash flow do you want to create in what timeframe.
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I'd agree with what William H said. Most people have goals financially and that is why they invest in real estate (or anything else). Unless you love duplexes because they are duplexes. Find what your financial goals are, then properties that help you towards that goal.
Real Estate is just the VEHICLE to get you to your destination. You have to know where you are going before you know the best way to get there!!
Will you be looking just in NC or areas with higher profit potential? I think you would need to get more precise on what you want to do.
Make a down payment on a couple quads or any other rental and hire a property management company while you're gone. Easy money. Make sure you save enough for repairs.
Id look in areas with the best deals / ROI.
Primarily looking for a good cashflow / good investment with 100,000-120,000 dollars.
You could be a hard money lender. Make 3-4 points and 10-12% interest on your money. You don't need to own to profit.
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No one can answer this for you. A duplex/quad/etc... doesn't matter. Just go buy the numbers and what is available in your area. Perhaps there is a quad in your area, but a duplex is selling at much better value. Seek out the value deals and the cash flow will follow. There isn't a "this is the best type of property" to buy. Each deal is specific to how unattractive/attractive it is.
Look at things for sale in your area, breakdown income/expenses...and the numbers will make the decision for you
Lee beside what others iterated you should mostly focus on your Cash on Cash Return will be. This is pretty straight forward in that if you are putting set amount in what % of the money do you get back. Start looking at all various types of real estate and figure out what the Cash on Cash Return will be. This should give you an idea which property gives you the most back. OR just do hard money lending and make 10-12% without any work.
If I had a 100k free and clear I would be looking at more than a quad in NC. You can probably get a couple quads or building for that much down payment.
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Just send it all to me - at least I won't try to scam you out of your money :)
Seriously, be cautious when you disclose that you have significant sums of money on the internet, as that will attract all sorts of scammers and riff-raff trying to separate you from your money - especially by proposing things to you that might seem like good opportunities on the surface.
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