What direction would the members of BP recommend?

Question

Hypothetical. Investor has between 50k and 100K liquid assets. Should said investor start with a rehab and if so what price range? Should investor get into a multi family for income? or Some combination to get a varied portfolio started? Very interested in the conversation amongst the best and brightest here on BP.

Mark Segars · Answer

Karen, thank you for the response. I am reading the beginner's guide. The market is doing well in this area. Certainly there is a long way to go to get to where values were but they are increasing. Rentals run from $1000 a month to $2000 for a 2 bedroom depending on size and amenities. A 3 bed 2 bath single family will get mid to high 200's.  I would consider myself capable of most average repairs, the larger projects I would call in my brother in-law who is a general contractor.

Mark Segars

Karen Margrave · Answer

@Mark Segars  I don't know what the best and brightest would advise, but the first thing to do is get familiar with your local market (if that's where you intend to invest) Find out what is selling, for how much and what you get for the money.

What is the local economy like? Is there high or low unemployment? What is the housing market like? Are there a lot of vacant homes or very few? What about rentals? What is your experience? Do you know how to do repairs, remodels or would you need to hire it out?

Those are a few of the questions you will want to address, and then, once you have some answers, you will have a much better idea of what the market is, and where you want to try to fit in.

Educate yourself on the market, and THEN post your findings, and we'll be better situated to help guide you. Welcome to BP by the way!

Have you read The Beginner's Guide yet? See you on the forums! Be sure to post more questions as they come up, and sorry for not giving you the answer to the question you originally asked.