I need some direction for my capitial.

Buying & Selling Real Estate
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I need some direction for my capitial.

David Huegel
Orlando, FL · Member since 2017 · 7 posts · 0 votes

Hello BP community!

I need some direction from anyone with investing experience.  My wife and I are debt free, we have excellent credit.  We own a mobile home free and clear that we are currently renting to a single mom with 3 kides.  After expenses, we make about $150/month off of that property.  That property is worth about 50K fair markey value.   If the mobile home becomes vacant I can either sell it to purchase more buy and holds or I can raise the rent to where we would be cashflowing more like $650/month after expenses.  What would be your suggestion for that? 

We also have 60K cash and I want to know the best route to invest that money. I have been looking into turn key buy and hold companies. I'm not wanting to do fix and flips at this time. What would be your suggestions for the cash?

Any advice would be helpful!

Thanks!

Dave

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
8y

David read the threads on Morris invest … you may change our mind about that company... MI is the gold standard.

and for pure passive being the bank in performing first trust deeds is about as good of mail box money as you can get.

As the herd floods to rentals.. being the bank is looking more attractive for those wishing to let this uber hot market calm a tad.

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  • Rachel H.
    San Antonio, TX · Member since 2009 · 3k+ posts · 1k+ votes
    8y

    @David Huegel You may want to test out the market to see if you can sell the mobile home for the market value price. Usually, it's hard to find cash buyers (unless bought at a discount) for this niche. Good luck!! 

    1Reply
  • Todd Dexheimer
    Rental Property Investor · St. Paul, MN · Member since 2016 · 3k+ posts · 3k+ votes
    8y

    For a more passive approach, I would suggest joining a syndication/crowdfund or buying NNN commercial property. The NNN may require more capital that you have available. Here are some articles on syndication.

    https://www.biggerpockets.com/blogs/10145/73373-op...

    and

    https://www.biggerpockets.com/blogs/10145/72118-sy...

    Buying some notes can be a great way as well, but could require time if something goes bad. Turnkey can be ok, but can often struggle to make much return. 

    3Reply
  • Holly Williams
    Rental Property Investor · New York City · Member since 2014 · 208 posts · 271 votes
    8y

    @David Huegel The challenge with syndication is that, with the exception of crowdfunding, most are private investments and not offered to the public. I am an investor and syndicator and there are many others here as well, and like anything else it depends on timing and your goals. Most are willing to share what they know, and you should talk to as many people as you can. I invest in syndications, and I'm also starting to learn about notes. I had a lot of luck with a couple of the crowdfunding platforms, but have not seen many great deals there lately. (I use my IRA for that since the tax advantages there are limited.) I try to be flexible and adjust strategies with the market. Good or bad market, I still believe that residential multifamily, class B properties are one of the safest and tax-friendly options out there.

    1Reply
  • David Huegel
    OP
    Orlando, FL · Member since 2017 · 7 posts · 0 votes
    8y

    Thank you all for your time and suggestions!  I really feel like investing in turnkey is my best option.  Just a matter of where now.  If anyone has suggestions for good Turnkey companies, PM me please.  Thank you again!

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