$130k seed money!! Suggestions for next move?

Question

Norman, OK.  2.5 years of real estate investing.  Bought low and sold high on some properties.  Now have $130k in cash.  Have several opportunities in front of me, but would like to hear what ideas others have.  I have great credit, a strong relationship with a lender, experience with home building and remodeling, and a strong desire to build a large portfolio.  Help me dream big!!!

Jordan Slater · Answer

@Jody Sperling

Thanks Jody!

Jordan Slater · Answer

@Theresa Harris

Thanks Theresa!

Theresa Harris · Answer

What do you want to do?  Buy and hold (single, multifamily) or flip?  It also depends on your market.  If you can find a couple of good homes that have suites in them, I'd split that money and buy a few homes.  They could be places that need a bit of work to add some equity.

Jody Sperling · Answer

With $130,000, you should be able to find good candidates for flip-and-hold properties. Because you have the available cash, you can buy and rehab without loans in your market. If you could find two flip-and-hold properties a year that met even a 90% cash-out refinance metric, you could build a portfolio of a dozen rentals before you even had to think about where to access more capital.

That might be a slower strategy than you hope for, but if you did it that way, you'd definitely have a stable, productive portfolio that would spin off a fair amount of cash-flow. Best of luck, whatever you choose to do!