What should I do with my $150,000?

Question

I’m new to bigger pockets. I’m moving to the US later this year.

I own 3 rental properties in Ireland. I have no dept and around $150,000 in cash and another $80,000 worth of machinery.

My plan is to go to the US with my cash and machines and start a construction company. I have a few contacts in the game and should have no problem getting going.

Or

Is there anyway for me to get into Real Estate straight away without a any credit rating in the US? If I was to sell my machines I’d have around $230,000.

What’s my best route, to start at construction I’d have to invest all my cash into the company and hope that it all works out, then if it does I’d invest as much income as possible in real estate, but that’s a lot further down the line. I’d like to get straight into real estate if it was a solid option.

Ivan Barratt · Answer

Focus on what you're excellent at! Construction market in most of US is TIGHT! There's a need to fill! Google/Search on "burning your ships behind you." Many great American immigration stories have started out like yours!

Focus on building a business first. Do well at that and the biz will buy the real estate down the road.

No go get it already! ;)

Focus on building a business first. Do well at that and the biz will buy the real estate down the road.

No go get it already! ;)

Jay Hinrichs · Answer

great advice Ivan don't know what construction he does but there is such a shortage of good contactors and subs..  also 230k is not going to provide enough income in the rental space to pay for monthly needs its a nice Investment type thing but not anything that is going to be earth shattering..  one I suspect would make far more money in the trade then passive investing.. FAR MORE>>  then start investing your proceeds from your business

Taylor L. · Answer

Depending on the machinery, I'd expect the shipping charges from Ireland to anywhere in the US to be significant. With $230k you can do all cash transactions depending on where you are. You can also look at partnering with others to increase your purchasing power and resources.

Where are you moving to?

John Corey · Answer

As someone who invests in the USA and UK, I might be able to provide some perspective. Send me a message or post here specific questions.

In terms of your move, what it takes to start, etc., your visa could strongly influence the path you take. You also are unlikely to be able to finance much until you establish credit. It you need the company, your new company, to fit a specific visa program, focus on deals that fit the visa requirements. Build for the long term. Establish credit will also depend on your visa status.

Trevor Ewen · Answer

@Jack Mccormack

Welcome! I hope the trip goes well. I lived in Cork for a little during college, great place!

New York is a punishingly tough rental market. Construction is a different story, there are definitely opportunities, but you will need to find your niche. As for investing, I would consider going out of state. Since your primary business is construction, you may do best with something passive like a syndication or private loan.

Jack Mccormack · Answer

@Taylor L.

Hey Taylor,

Im moving to New York. Looking to get into the rental market if I’m getting in at all at this stage.

I would need all the cash to set up my construction company and run it, if that’s the route I’m still going.

Is 230k enough money to start out with in order to go full time in real estate?

What should I do with my $150,000?

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