2.3MM in Stocks. 0 in Real Estate at 32

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2.3MM in Stocks. 0 in Real Estate at 32

Jason Wright
Member since 2021 · 1 post · 1 vote

Hello, 

I gave a friend seed money to start a construction company and he bought me out in 2020.I put the money with my aggressive mutual fund(13% growth rate in past 3 years.). It's currently worth 2,300,000(my friend is the only person that knows this). I don't want to touch the stocks nor change the way I live. I want to retire early and be able to have a diverse portfolio. 

I have 250,000 set aside for real estate investment in 2021.I have $90,000 as my safety net. I made $75,000 in 2020. I'll make $85,000 in 2021. I should make $150,000+ by 2025 due to recent events/conversations with owner. I really enjoy my job. 

I'm 32 no kids and have never had a loan or credit card. I just ordered a card. I live with my long time girlfriend in her house. She has about $90,000 left on it and her rate is 5%. She has excellent credit, govt employee earning just shy of 50K. 

I'm located near Daytona Beach, FL and looking to invest in multi-families in the surrounding areas. There's not many multifamilies available in areas I'd like to invest (Ormond Beach, Port Orange or NSB). 

How do I find properties with a good ROI? How much should I put down and still have enough for repairs?

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  • Jason Scavilla
    Ormond Beach, FL · Member since 2020 · 46 posts · 16 votes
    5y

    Hi Jason,

      First want to start with great name, lol. You have to ask yourself do you want cash flow or equity? Do you want to have the rental taken care of by a management company or will you be doing all repairs?  There are still tons of other questions to ask but something to start to think about. PM me and we can chat further about details.  I myself have 3 rentals, all single family and so am also a real estate agent as well. 

    Jason 

    0Reply
  • Jason Goretzki
    Fort Lauderdale, FL · Member since 2016 · 214 posts · 95 votes
    5y

    Jason, Jason,
    Can a 3rd Jason join this group chat in Daytona Beach?  My wife & I will be  down to Daytona Beach the last weekend of January.  We currently have one vacation rental, & this year we plan to buy more vacation rentals, but have also been looking at Multi-Family online.

    0Reply
  • Jason Scavilla
    Ormond Beach, FL · Member since 2020 · 46 posts · 16 votes
    5y

    For sure, lol.

    0Reply
  • Seth M. Jones
    Rental Property Investor · Port Orange, FL · Member since 2018 · 78 posts · 43 votes
    5y

    Jason(s), I'm located in Port Orange, and have a similar net worth but a differently structured portfolio... I currently hold approximately 50% in investment properties (not including primary), 15% in REITS, 10% Mortgage Notes, 20% in Stocks, and 5% in bonds... I'll be working to increase my stock, bond, REIT and note allocation over the coming years, so that my allocation isn't so heavily weighted towards real estate (the opposite of your situation). Personally, I focused on cashflow first, then wealth second, which has really worked well, and my cashflow has continued to increase over time, and really anything further is just bonus... Focusing specifically on your original question, I'd highly recommend focusing on the area of greatest opportunity, rather than focusing on getting a property under your belt... What I mean by this is, from an investors perspective right now, where are the opportunities for greatest yield? Oftentimes, unless your focused on flipping, a hot sellers market (which we're in) isn't the best environment for high yield rental properties. Feel free to reach out if you want to connect further.

    0Reply
  • Daniel McNulty
    Financial Advisor · Indianapolis, IN · Member since 2018 · 294 posts · 165 votes
    5y

    @Jason Wright

    If you are having troubles, either look in other markets or outsource it.

    There is a robust supply of syndicators out there hoping to help you find / invest in multi-family. Like anything, do your due diligence as there are both excellent and terrible operators out there.

    0Reply
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