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Updated over 2 years ago on . Most recent reply

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Mario E Gonzalez
16
Votes |
39
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Numbers seem to show neg cash flow, where to invest 100k? looking to finally buy

Mario E Gonzalez
Posted

hello all, 

i live at home with family and i have a WFH role. i have an 805 credit score, no debt, and 100k capital to buy. 

the options i see that could work for me are as follow

1. buy a 2 unit in Paterson or central jersey where i can add value by fixing up the basement as a studio and combining it with the 1st-floor rent making it legal along with an extra exit. House hack then move out to repeat. 

2. move to PA to HH a 2 unit, rent out one unit as an Airbnb

3. buy a new townhome and Airbnb the rooms to help pay for the house

4. try a move to NC and buy a single fam. add value by adding an adu and renting out rooms on Airbnb to help pay for the house. 

what would your move be if you were in my shoes?

i make 85k plus 20k. i want to take action and not be frozen by doubt or fear 

i am open to creative ideas, but my main goal is to buy this year and HH to move out 1 year and get cocr of 4% plus AFTER putting aside 26%  (10% pm + 6% vacancy + repairs and capex 10%)

Most Popular Reply

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Bruce Woodruff
#1 Contractors Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
14,422
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12,213
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Bruce Woodruff
#1 Contractors Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
Replied

Get out of NJ.....

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