Updated about 16 years ago on . Most recent reply
What to do Now?
Hello everybody.
Me and a friend have purchased two duplexs in MN in the last year and a half. We are cashflowing about 15k/year and look forward to purchasing our next one, however, this might take a while to build up enough cash as banks require at least 20% down if not more to purchase an investment property. We are also tryinig to hold at least 6 months of reserves, mortgage, interest, taxes for each property. Which brings me too the question - What should I be doing while waiting for the money to roll in :wink: ? My friend has his CPA and I am a CFA level 3 candidate so we are looking into starting an accounting/bookeeping company for small business. I like this idea but i think we will find it hard to accomplish as we both work full time during the day (blah). Our goal is to go part time and eventually quit these full-time jobs. So, what other areas of real estate would be easy to do with little extra cash and only nights and weekends free? I thought about investing in mobile homes but my friend is leary about investing in bad areas. Any and all suggestions are welcomed.
Cheers!