About to be $80,000 liquid, What should I do?

Question

I am an experienced investor and agent. I just want to get other's opinion on what they would do in my shoes. Currently renting, but flipped a mobile home and netted $65k and flipped a second MH and am pulling in $12k. Average small multifamily in the area 400-500k and won't cash flow fully rented with LTR.

My plan: FHA househack with cosmetic value add, take remainder and invest out of state

Thoughts?

My plan: FHA househack with cosmetic value add, take remainder and invest out of state

Thoughts?

Nicholas Coulter · Answer

I would combine the HH and Live in flip @Cal Martin.

Live for cheap with the house hack in the property and then when you are done with the flip aspect stay as a primary residence for 2 years while you build up an out of state portfolio. Then after 2 years of it being your primary residence you can sell and collect the profits tax free up to 250k or 500k if married!

Paul Moore · Answer

Hi @Cal Martin congratulations on your success its really hard to make money in mobile homes, good job.

I would take that 80k and invest it in whatever you are most passionate about. That could be education or it could be investments in the realm of house hacking, flips, passive syndications or funds, or a dozen other things. Its really up to you. Congratulations on your success.

Good luck and happy investing!

Brock Mogensen · Answer

House hacking is a great way to get going!  Take that experience and decide from there where you want to place the remainder of your capital into the next one.

Luther Wilson III · Answer

House hack is a solid way to go right now…  After that if you can BRRR a SFH and cash out all of your initial Capital then you could do it over and over again.  Kansas City is a solid market for it and there’s others in the Midwest where you can BRRR out C or B class homes for a reasonably low amount.

About to be $80,000 liquid, What should I do?

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