$5.3M to use but 0 experience. Advice...?

$5.3M to use but 0 experience. Advice...?

Member since 2023 · 31 posts · 28 votes

Title says it all. Currently live in Orlando. Made money from other businesses in a relatively short time and at a relatively young age, and now want to put it into real estate. Problem is this would be my first real deal. I would like some general advice from the knowledged community about where might be best to deploy this (I did make an STR-specific post elsewhere, but this is for more general wealthbuilding advice). Also don't have any agent at the moment, insurance people, or loan officer (if I even get a loan), so open to advice from people here in their areas of expertise. I used to work in CRE acquisitions so I understand the numbers but lack deal experience.

Some stats:

- I am open to both debt and all cash depending on circumstances.

- My biggest parameters are long-term appreciation, and enough cash flow to comfortably live off of (which is why I'm strongly considering an all cash "park and profit" approach without worrying about crazy interest rates). I want to cash out at the age of 115 and use the cash to buy artificial organs to live forever, lol. Honestly that is the main goal and what both keeps me going and up at night, so I'd say the ultimate "end goal" is having lots of cash and the means to withdraw it down the line, WITHOUT going absolutely insane.

- To this end I have primarily considered Hawaii (Honolulu Oahu, Kihei Maui, and Kailua-Kona - either short term rentals or long term, ideally able to live in one unit/room of the property or properties), Miami, Houston, and Space Coast Florida. Hawaii or Miami would likely be an STR, Houston would be MTR, and Space Coast also a STR. I have a buddy in Houston with large lumbar and tool yard that I believe could make good prices for new development, but again, despite the cash, I am inexperienced and don't want to make a mistake biting off more than I can chew.

- While I can manage 1-3 STRs (I think, especially if I live in or near them) and one sub-15 unit multifamily complex, I definitely cannot for more than this on my own, and still have my other businesses to run, and want to leave adequate time to devote to those as they are my only revenue sources (another reason why I'm interested in some more livable cash flow).

- And i guess as a bonus, if you had this cash, what would you do to exponentially multiply it over a 100+ year period? I am considering buying self storage, branding it, turning it into a real business and scaling with more self storage facilities to sell to BlackRock in 2077 or something like that. Standardized, corporate, branded. Or maybe some adventurerous, extreme vacation rental business. Open to putting in the time and effort for that, but I have 0 experience with self storage, turning around some old mom and pop, or managing something like that outside of what I've read online. I am not a "handy" person. I don't want to lose this money on my first deal.

Overall, I'd love to live in Hawaii and collect 6-figures a year while living for free in one unit of a multifamily or multiple condo group, just as much as I like the idea of going all in on some big brand. I wonder, where is the balance, what would be best for now, and could I start with one and scale into the other as i grow experience and hopefully more capital? I know this is a lot, but I think it'd be an interesting discussion and would really appreciate some advice from the communtiy! Thanks.

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Bonnie LowPro Member

Lender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votes

2y

Is this post even for real? It reads like a satire piece. It's hard to know which are legitimate questions to focus on answering. Generally speaking, if you have $5.3M you have ALL the options. I don't know how I'd narrow it down. Sounds like you're busy. Maybe a syndication is the right answer for now. Good luck.

[email protected]

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Account Closed
OP
Member since 2023 · 31 posts · 28 votes
2y
Quote from @Mike Dymski:

You have experienced so much success with your existing businesses, why not stick with them and invest your money there rather than in a new real estate business with no experience?

I am sticking with them, I mentioned I want to keep the time available to continue focusing on them while being able to put money into real estate. I want property. I want hard assets. Company valuation and the cash flow that produces is great but means little against major war, bank collapse, hyperinflation, etc. Why I want RE is same as why anyone else wants it: because it's a good storage of long term wealth. I got the businesses, great, now it's time to diversify a bit.
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Account Closed
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Member since 2023 · 31 posts · 28 votes
2y
Quote from @Theresa Harris:

If you are serious, I would start small-buy one house (average home) and see how that goes. Do not let your agent or tenants/property manager know how much money you have or you will be taken advantage of.

simple advice, but underrated. thank you.
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Matthew Irish-JonesBusiness Member
Real Estate Agent · Buffalo, NY · Member since 2017 · 2k+ posts · 2k+ votes
2y
Quote from @Account Closed:

Quote from @Matthew Irish-Jones:

@Alton Pettit 5.3 million and going to a forum for advice?

Free advice is free advice.

Indeed it is. When the price is free, beware the value.
I advise you take 2 million and give it to a wealth manager to invest in low risk stock portfolio.
Take another two million and divide it up between several different established REIT's. Then take 1.3 million and try to become a mini Real Estate Developer. Since you are dealing with Capital gains find an Opportunity Zone, build a team of professionals to help you execute and provide the vision for the development. If it works keep rolling. If it doesn't work... you can still pull some of your money back out and it should not be a total loss.
That way you get to secure $4,000,000 for the long haul and should be able to live comfortably off of the interest, and you get the thrill of losing 1.3 Mil or turning it into much more. If you win on the development side, you can keep the money rolling and become a visionary developer. Since you made 5.3 Mil in business I have to assume you are going to be bored without the adrenaline rush of the risk. Entrepreneur's need the thrill or a part of their soul dies.
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Account Closed
OP
Member since 2023 · 31 posts · 28 votes
2y
Quote from @Stephen Sherbin II:

Quote from @Account Closed:

Title says it all. Currently live in Orlando. Made money from other businesses in a relatively short time and at a relatively young age, and now want to put it into real estate. Problem is this would be my first real deal. I would like some general advice from the knowledged community about where might be best to deploy this (I did make an STR-specific post elsewhere, but this is for more general wealthbuilding advice). Also don't have any agent at the moment, insurance people, or loan officer (if I even get a loan), so open to advice from people here in their areas of expertise. I used to work in CRE acquisitions so I understand the numbers but lack deal experience.
Some stats:
- I am open to both debt and all cash depending on circumstances.
- My biggest parameters are long-term appreciation, and enough cash flow to comfortably live off of (which is why I'm strongly considering an all cash "park and profit" approach without worrying about crazy interest rates). I want to cash out at the age of 115 and use the cash to buy artificial organs to live forever, lol. Honestly that is the main goal and what both keeps me going and up at night, so I'd say the ultimate "end goal" is having lots of cash and the means to withdraw it down the line, WITHOUT going absolutely insane.
- To this end I have primarily considered Hawaii (Honolulu Oahu, Kihei Maui, and Kailua-Kona - either short term rentals or long term, ideally able to live in one unit/room of the property or properties), Miami, Houston, and Space Coast Florida. Hawaii or Miami would likely be an STR, Houston would be MTR, and Space Coast also a STR. I have a buddy in Houston with large lumbar and tool yard that I believe could make good prices for new development, but again, despite the cash, I am inexperienced and don't want to make a mistake biting off more than I can chew.
- While I can manage 1-3 STRs (I think, especially if I live in or near them) and one sub-15 unit multifamily complex, I definitely cannot for more than this on my own, and still have my other businesses to run, and want to leave adequate time to devote to those as they are my only revenue sources (another reason why I'm interested in some more livable cash flow).
- And i guess as a bonus, if you had this cash, what would you do to exponentially multiply it over a 100+ year period? I am considering buying self storage, branding it, turning it into a real business and scaling with more self storage facilities to sell to BlackRock in 2077 or something like that. Standardized, corporate, branded. Or maybe some adventurerous, extreme vacation rental business. Open to putting in the time and effort for that, but I have 0 experience with self storage, turning around some old mom and pop, or managing something like that outside of what I've read online. I am not a "handy" person. I don't want to lose this money on my first deal.
Overall, I'd love to live in Hawaii and collect 6-figures a year while living for free in one unit of a multifamily or multiple condo group, just as much as I like the idea of going all in on some big brand. I wonder, where is the balance, what would be best for now, and could I start with one and scale into the other as i grow experience and hopefully more capital? I know this is a lot, but I think it'd be an interesting discussion and would really appreciate some advice from the communtiy! Thanks.

Hey @Account Closed, sooooo first, congrats on the wealth you've built, no easy feat for sure. It would be extremely difficult to give advice because of the number of options. So, let's narrow it down: do you want to be an active person within the business, or generate the income passively while spending your time on something else? Like everyone here, you are looking to multiply your money, and are looking for the fastest vehicle to do so, but what will be fastest is what you are passionate about. So with that in mind, what in real estate are you fascinated by, what are you obsessed about learning?
The answer to both those questions will really be the guide. There's opportunities in multiple sectors both in and out of real estate, like the conversation I had last night with a young lady who is following her mother's footstep in Ice Cream Trucks. Mom makes ice cream from scratch, dad is a mechanic, and they find older cargo/transit vans for a couple thousand dollars, spend $10k to convert them and equip them, and then hire drivers (for 25% of revenue) to go sell the ice cream (high quality version). They make about $300-400/day/truck in the slow season (winter). That's $9,000-12,000 per month revenue if they run every day. they have 14 trucks currently with more under renovation right now. They found a way to make great money from something no one else would think could make good money. It's the passion, passion drives learning, creativity, and effort. That's where your golden goose is. So, What are you obsessed with?

I like the idea of private equity. giving other people a chance to make dreams happen, for big returns. Might start with real estate lending, and grow up into something else. That's something of a dream of mine. If you can't tell my ideas are all over the place. i apprecite your avdice, I do think that thinking outside the box will help. I'll have to consider if RE is the way to go, vs putting into more businesses
1 Reply
Account Closed
OP
Member since 2023 · 31 posts · 28 votes
2y
Quote from @Malgorzata Sadowska:

brilliant! congrats on your success - would love to know what kind of business.
Before you dive into RE, my suggestion would be to learn not WHAT but HOW you'd buy - if you haven't already, you should immediately focus on asset protection.

SMMA and eccommerce, mostly baby products. made killing in pandemic "baby boom" and now looking to reallocate some capital for dievrsification purposes. thank you for not assuming this is bait, I think it's sad some people assume that everyone with cash knows everything there is to know about RE.

As for HOW, I like the idea of all cash to not worry about interest rates, and take HELOCs out for scale. Basically jam my foot hard in the door for low risk, then have the option to grow from there if I want to.
2 Reply
Account Closed
OP
Member since 2023 · 31 posts · 28 votes
2y
Quote from @Nathan Gesner:

It's not wise to wave your money around. The first thing I would suggest is a measure of privacy and humility.

1. Start with BiggerPockets Ultimate Beginners Guide (free). It will familiarize you with the basic terminology and benefits. Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.

2. Get your finances in order. Get rid of debt, build a budget, and save. The idea that you can build wealth without putting any money into it is a recipe for disaster and the sales pitch of gurus trying to steal your money. A wise investor will not try to get rich quick with shortcuts. If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing. Check out my personal favorite, Set For Life by Scott Trench , or The Total Money Makeover by Dave Ramsey.

3. As you read these books, watch the BiggerPockets podcasts. This will clarify and reinforce what you are reading. You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.

4. NETWORK!!! Get out of your comfort zone. Stop hanging out with your deadbeat buddies that spend all day drinking, talking sports, and otherwise wasting away. Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area. You can also find real estate investing groups through meetup.com, facebook, or a Google search. Birds of a feather flock together!

5. Now you need to figure out how to find deals and pay for them. Again, the BiggerPockets store has some books for this or you can learn by watching podcasts, reading blogs, and interacting on the forum. A handy search bar in the upper right makes it easy to find previous discussions, blogs, podcasts, and other resources. BiggerPockets also has a calculator you can use to analyze deals and I highly recommend you start this as soon as possible, even if you are not ready to buy. If you consistently analyze properties, recognizing a good deal will be much easier when it shows up. Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice. It doesn't take long to learn how to spot a good deal.

6. Study the market. You can learn to do this independently or get a rockstar REALTOR to lead the way. I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.

7. Jump in! Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started. You could read 100 books and still not know enough because certain things must be learned through trial and error. You don't need to know everything to get started; you need a foundation to build on and the rest will come through experience and then refining your education.

You can build a basic understanding of investing in 3-6 months. How long it takes to be financially ready is different for everyone. Once you're ready, create a goal (e.g. "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it. Real estate investing is a forgiving world; the average person can still make money even with some big mistakes.

Thanks for the advice, but not everyone with money knows everything about RE. had to start somewhere, and the forum is free advice, so here I am. Don't see the BP owners getting much flak for waving their money around. just trying to give context for my situation for best possible advice. Thank you for yours.
1 Reply
Account Closed
OP
Member since 2023 · 31 posts · 28 votes
2y
Quote from @Peter W.:

Buy one either where you live or frequently visit at 20-25% down and wait a year or two and see if the headaches are worth it before figuring out your next steps. Congratulations on you success so far.

Good advice, step by step
0 Reply
Account Closed
OP
Member since 2023 · 31 posts · 28 votes
2y
Quote from @V.G Jason:

Good job on your success, but this can be blown really quickly. I'd be very careful about advertising your position publicly, and would do more reading and less asking right now if REI is your end game. Figure out what interests you and then pursue that with the capital.
I've seen countless mid to late 20 year olds blow a really good bonus or a good windfall, there was just another thread the other month about this. Understand delayed gratification and understand not letting people know. Operate strictly business-oriented and don't forget what got you here, and make sure you continue it.
If REI ends up being your pursuit, I'd do something similar that @Cody L mentioned and that I mentioned in the NFL player thread but more SFH oriented. 60% towards 20-40% LTV properties that are undervalued(less than median price) in a growing city(by characteristics, trends, industries). Prefer 3-4 cities and just go deeper, not wider. 30% into debt notes(sub 5 year tenure), 10% in to rolling 4-8 week tbills. Re assess every year and how to move properly to continue to make money and keep yourself lined up with good hard assets.

Good advice on diversification.
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Account Closed
OP
Member since 2023 · 31 posts · 28 votes
2y
Quote from @Christie Gahan:

Stop talking about your net worth.
The Con Artists will flock to you.
The people who actually know what they are doing won't believe you.
Take a class at a local Jr College on Personal Finance / Investing. Learn about investing in stocks, bonds and real estate. Know how to compare them to each other. Understand Beta. Learn from some one who has nothing to sell to you. Then, dollar cost average in to different types of investments. Make your mistakes with small amounts.
$250k is about 5% of your net worth. I would set the goal to invest $250k in the first year. Do the same in year 2. You will be so much better off at the beginning of year 3! Move the bulk of the money in to US govt guaranteed funds. Buy a huge umbrella policy.
Good Luck

Just trying to give context for best advice, but you're right, been flooded with messages and plenty of comments from people who think just because somone's got money that they should know everything about RE. I appreciate your advice.
3 Reply
Account Closed
OP
Member since 2023 · 31 posts · 28 votes
2y
Quote from @Carlos Ptriawan:

if you can lend me 3 mil with 3% rate I would borrow your money right now.

I will do my hyper-active flip multi property strategy in the Kona and I can safely make myself IRR 40% :-)

Maybe buying 7 mil house and sell it for 9 mil in 9 months, sounds good ? :-)

lol even a newbie like me knows that a 3% rate for a sub-6 month flip ain't happening
0 Reply
Account Closed
OP
Member since 2023 · 31 posts · 28 votes
2y
Quote from @Craig Janet:

This can't be real. You have 5 million and your posting on a internet chat board to invest. Put your money in the bank and live off the $300K a year or just keep doing what your doing and make another 5 mil. Do you really want to deal with tenants and leaking toilets.

Free advice is free advice. Wanting to put into real estate because that's the standard advice i've heard to protect wealth once it's already earned, and it'd be nice to have some assets that aren't fairy dust company valuations for once. Diversification. Not so hard to fathom. Believe it or don't. Appreciate the comment nonetheless
0 Reply
Account Closed
OP
Member since 2023 · 31 posts · 28 votes
2y
Quote from @Tim Hall:

@Alton Pettit if I had 5.3m hmmm even if I parked it in a savings account at 5% interest rate I’d have a return of $265,000 and that is totally passive.
I could then become the bank for other savvy more experienced investors that would get you 10-12 percent and that is also relatively passive. You’ve just got to make the connections. You could become part of a syndicate and that also is passive and can see returns at 8-10% These are my options if i want to be truly passive.
If you want a job then you can buy a str, at the moment it’s pretty hit and miss but you’d be busy.
You could buy 1 big multi family and that would give you lots to do too until you systematized it.
You could buy lots of different houses that would give you lots to do too.
You could leverage the money partner up with an experienced re investor and go balls deep. Whoa what a ride.
Depends what you want out of life.

Appreciate the advice, private lending is not off the table down the line. lots more research to do first though. thanks.
0 Reply
Carlos Ptriawan
Member since 2019 · 7k+ posts · 4k+ votes
2y
Quote from @Account Closed:

Quote from @Carlos Ptriawan:

if you can lend me 3 mil with 3% rate I would borrow your money right now.

I will do my hyper-active flip multi property strategy in the Kona and I can safely make myself IRR 40% :-)

Maybe buying 7 mil house and sell it for 9 mil in 9 months, sounds good ? :-)

lol even a newbie like me knows that a 3% rate for a sub-6 month flip ain't happening
Hahahahaha lol just kidding
0 Reply
Account Closed
OP
Member since 2023 · 31 posts · 28 votes
2y
Quote from @Carlos Ptriawan:

you could have zero income and collect 6 figures a year and still live in hawaii, it's just located in different zip code for different people, still on the sam island, some area can be cheaper than ohio still LOL ; hawaii is not equivalant to expensive but yes it's best place to live until 115, lot of folks said they live longer there becoz they have much less stress lol

Thanks for the advice! Gonna have to keep researching areas there of interest.
0 Reply
Carlos Ptriawan
Member since 2019 · 7k+ posts · 4k+ votes
2y
Quote from @Account Closed:

Quote from @Carlos Ptriawan:

you could have zero income and collect 6 figures a year and still live in hawaii, it's just located in different zip code for different people, still on the sam island, some area can be cheaper than ohio still LOL ; hawaii is not equivalant to expensive but yes it's best place to live until 115, lot of folks said they live longer there becoz they have much less stress lol

Thanks for the advice! Gonna have to keep researching areas there of interest.

Let’s meet when you have successful business in Kona , we could be neighbour
0 Reply
Kristi KandelPro Member
Developer · Fort Myers Beach, FL · Member since 2018 · 383 posts · 195 votes
2y
Quote from @Account Closed:

Title says it all. Currently live in Orlando. Made money from other businesses in a relatively short time and at a relatively young age, and now want to put it into real estate. Problem is this would be my first real deal. I would like some general advice from the knowledged community about where might be best to deploy this (I did make an STR-specific post elsewhere, but this is for more general wealthbuilding advice). Also don't have any agent at the moment, insurance people, or loan officer (if I even get a loan), so open to advice from people here in their areas of expertise. I used to work in CRE acquisitions so I understand the numbers but lack deal experience.
Some stats:
- I am open to both debt and all cash depending on circumstances.
- My biggest parameters are long-term appreciation, and enough cash flow to comfortably live off of (which is why I'm strongly considering an all cash "park and profit" approach without worrying about crazy interest rates). I want to cash out at the age of 115 and use the cash to buy artificial organs to live forever, lol. Honestly that is the main goal and what both keeps me going and up at night, so I'd say the ultimate "end goal" is having lots of cash and the means to withdraw it down the line, WITHOUT going absolutely insane.
- To this end I have primarily considered Hawaii (Honolulu Oahu, Kihei Maui, and Kailua-Kona - either short term rentals or long term, ideally able to live in one unit/room of the property or properties), Miami, Houston, and Space Coast Florida. Hawaii or Miami would likely be an STR, Houston would be MTR, and Space Coast also a STR. I have a buddy in Houston with large lumbar and tool yard that I believe could make good prices for new development, but again, despite the cash, I am inexperienced and don't want to make a mistake biting off more than I can chew.
- While I can manage 1-3 STRs (I think, especially if I live in or near them) and one sub-15 unit multifamily complex, I definitely cannot for more than this on my own, and still have my other businesses to run, and want to leave adequate time to devote to those as they are my only revenue sources (another reason why I'm interested in some more livable cash flow).
- And i guess as a bonus, if you had this cash, what would you do to exponentially multiply it over a 100+ year period? I am considering buying self storage, branding it, turning it into a real business and scaling with more self storage facilities to sell to BlackRock in 2077 or something like that. Standardized, corporate, branded. Or maybe some adventurerous, extreme vacation rental business. Open to putting in the time and effort for that, but I have 0 experience with self storage, turning around some old mom and pop, or managing something like that outside of what I've read online. I am not a "handy" person. I don't want to lose this money on my first deal.
Overall, I'd love to live in Hawaii and collect 6-figures a year while living for free in one unit of a multifamily or multiple condo group, just as much as I like the idea of going all in on some big brand. I wonder, where is the balance, what would be best for now, and could I start with one and scale into the other as i grow experience and hopefully more capital? I know this is a lot, but I think it'd be an interesting discussion and would really appreciate some advice from the communtiy! Thanks.

Definitely recommend talking to a financial advisor and wealth planner. You want to have a tax strategy, diversify (maybe some syndications, self investing in RE, whole life policies for infinite banking, some stock market, possibly buy existing biz with great operators / operations and just keep them successful, etc.).
I'd do a ton of research and pick the strategies that best suit your end goal, risk tolerance, and create the time wealth that you're looking for ultimately.
0 Reply
Doug Lovett
Investor · Tampa, FL · Member since 2015 · 63 posts · 59 votes
2y
Hi Alton,

I live in Titusville, just sent you a connection request.
0 Reply
Danny RandazzoPro Member
Apartment Syndicator · Charleston, SC · Member since 2016 · 973 posts · 728 votes
2y
@Alton Pettit have you found a group of investors to network with to see how they have had success and what challenges they faced? This would be a great place to see how the real estate investor space works and pros/cons to investment strategies
0 Reply
Danny RandazzoPro Member
Apartment Syndicator · Charleston, SC · Member since 2016 · 973 posts · 728 votes
2y
@Mike Dymski great point
0 Reply
Marcus Auerbach
Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
2y
It's pretty dangerous to start RE with money in your pocket. It makes you move faster than your learning curve.

RE is a great long term investment done right, but it takes time to learn the craft. I am a learning-it-from-the-ground-up guy. Like swimming, you can't really learn it ALL from a book, a lot of it is street smarts and hands-on experience.

I would say it takes about 10 deals to graduate from rookie status. Ideally you handle acquisition, bank financing, all of the rehab (with contractors) and self manage for full first hand experience.

This should not take that much money, keep the rest invested based on your existing experience until ready.

1 Reply
Hersh ShahBusiness Member
Realtor · Atlanta, GA · Member since 2016 · 120 posts · 79 votes
2y
@Alton Pettit Your starting in a great place! Take 10% of your portfolio ($530k) and invest that yourself to learn, make mistakes etc and leave the rest for a wealth manager to invest for you. Even a modest 4% return on the 90% is nearly $200k/year. That’s lower risk because someone who knows what they are doing it is managing it for you. Use your 10% for higher risk investments that you learn from and grow from.
So many options, but ultimately it’s up to you and your lifestyle!
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Matthew Mazas
Member since 2023 · 3 posts · 0 votes
2y
Alton!

Incredible that you’ve been able to accumulate such wealth in a short time.
you have the right idea. There’s different ways to invest into multifamily properties.
Sounds like you’re looking to invest passively. Because of the current businesses you’re running.
My team and i are currently closing on a 200 unit multifamily in Greenville South Carolina no later than January
We are still raising capital, where you can park your capital for a 10-12% preferred return.
Let’s set up a time to chat.

0 Reply
Dennis S. GelbartPro Member
Developer · Illinois-Wisconsin · Member since 2019 · 68 posts · 17 votes
2y
Do not blow your money quickly. Slowly slowly. Review all deals. Speak to other investors. Get three different opinions minimum. Orlando and Fl. In general are very tough. Start out very small and acquire a single family home or duplex. Not for cash. Put some credit in the deal to build YOUR credit. SPeak to your banker, Call mortgage brokers. Be careful to tell them you have SOME money but not millions.

The BP analysis calculator is a good way to start and learn. If you would like to talk (do not worry I will NOT ask for money)

Contact me if interested. If this is a fake... Its sounds good. If not. Good luck
[email protected]
0 Reply
Dennis S. GelbartPro Member
Developer · Illinois-Wisconsin · Member since 2019 · 68 posts · 17 votes
2y
Quote from @Marcus Auerbach:

It's pretty dangerous to start RE with money in your pocket. It makes you move faster than your learning curve.

RE is a great long term investment done right, but it takes time to learn the craft. I am a learning-it-from-the-ground-up guy. Like swimming, you can't really learn it ALL from a book, a lot of it is street smarts and hands-on experience.

I would say it takes about 10 deals to graduate from rookie status. Ideally you handle acquisition, bank financing, all of the rehab (with contractors) and self manage for full first hand experience.

This should not take that much money, keep the rest invested based on your existing experience until ready.

Well Said Marcus.!!!
[email protected]
1 Reply
Nate Marshall
Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 735 votes
2y
Quote from @Account Closed:

Quote from @Carlos Ptriawan:

you could have zero income and collect 6 figures a year and still live in hawaii, it's just located in different zip code for different people, still on the sam island, some area can be cheaper than ohio still LOL ; hawaii is not equivalant to expensive but yes it's best place to live until 115, lot of folks said they live longer there becoz they have much less stress lol

Thanks for the advice! Gonna have to keep researching areas there of interest.

Alton,
You could easily just take a piece of that and go through a Transaction Coordinator I know who can help you rinse and repeat EMD loans at 20-25% return.
Let me know.
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