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Updated about 1 year ago on . Most recent reply

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Adam Eckhoff
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how would YOU invest $100k?

Adam Eckhoff
Posted

Hi Everyone,

After years of saving, I finally hit the $100k mark (invested in an index fund). Eventually, i would like to be a real estate investor; whether it's renting out a single-family dwelling, duplex, etc.. 

I currently own a SFH with my wife. We purchased for $350k and now, homes in my neighborhood are valued $550k.

My question is how would you invest your first property in this situation. Would it be better for me just to keep my money in the index fund? Or, should i take $40k to $80k out for a down payment on a rental property? If it's in NJ i would self manage. Should i invest out-of-state? Would you guys suggest taking out a HELOC. If i purchase a rental property for $80k down (will have $20k left.. just rounding here), how will i save up enough to purchase the second rental property? i feel like it would take forever just to save up..

I really don't know what to do. Any insight would be extremely helpful. 


Thanks,

Adam. 

Commercial Appraiser NJ

Most Popular Reply

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2,174
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Shawn Mcenteer
  • Realtor
  • Boonton Township, NJ
922
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2,174
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Shawn Mcenteer
  • Realtor
  • Boonton Township, NJ
Replied

Hi @Adam Eckhoff 100k is what my wife and i started with in NJ.  We also had single family home which we ended up selling and purchasing a duplex.  We became house hackers and tuned the 100k into well over a $1million in a few quick years.   House hacking remains the unfair advantage to safely acquire properties at low cost to enter. 

  • Shawn Mcenteer
  • 9739753895
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House Hacking New Jersey
5.0 stars
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