Updated over 6 years ago on . Most recent reply
60k in savings in Miami FL and trying to figure out my next move
Hello forum, I recently purchased a house in Miami FL with an FHA loan. I am now looking for a second investment home. I have 60k in savings but no proof of income due to the fact that I lost my job. So I would like some advice from experienced investors on my next possible move. I thought about doing flips, but it seems very risky, time-consuming, I'll have to pay capital gains taxes, and I know nothing about fixing properties or hiring contractors. So right now I'm leaning towards using a hard money lender to buy a property, putting 25% down and then trying the BRRRR method to pull my down payment out so I can do it again. So for you investors out there what is the best way to make my money work for me, and what would you do if you were in my shoes (60k in savings and no proof of income)?