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Updated almost 11 years ago on . Most recent reply

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David T.
  • Lakewood, OH
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What would you do with $150,000?

David T.
  • Lakewood, OH
Posted

From my readings on this site it is clear that the main goal is to position yourself into using other peoples money to become a real estate mogul.

I'm just curious what strategy you would recommend if you came into $150,000 tax free cash?

For the sake of argument you have no debt to pay off other than a single mortgage?

Would you pay off that mortgage and use an equity line of credit to build off of?  Keep the mortgage as you are writing off interest?

Use it all for flipping?  Get into commercial properties by finding an apartment?

Most Popular Reply

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Kurt Albright
  • Investor
  • Portland, OR
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Kurt Albright
  • Investor
  • Portland, OR
Replied

Use the 150 for an operation account. Buy and sell as much as possible using the little or no down transactions it appears you've already worked before. And use the account for repairs and flipping. A business account to pay payroll and other operation costs will allow you to make more offers and maintain workers who'll become faster at their work and better quality to your standards. You'll soon find yourself growing faster and turning more properties. One by one is a secure way to go to flip houses but your using the money to operate on a grander scale your overall turnover costs timing and quantity will all leverage and maximize a return on a life changing scale.

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