New York, NY · Member since 2018 · 86 posts · 29 votes
I have 100k save up , what should I do in terms on real estate? I have some options - out of state investing , using like Memphis invest and others similar. Buy fix and flip (but I would assume I need more money) . And that’s all I can think of, any suggestion from the community?
Real Estate Investor · Palm Beach County, FL · Member since 2017 · 3k+ posts · 2k+ votes
6y
Put it in a high yield savings account earning around 2% interest with zero risk while you learn everything you can.
Then use your $100k once you've educated yourself and picked out a strategy that aligns with your interests/goals.
Also make sure you are very cautious of people reaching out to you with "deals" and "opportunities" now that you announced having $100k cash on a public forum as there will be people who would love to spend (not invest) it.
Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
6y
If it was me I'd get an FHA loan and purchase a 4-plex or get conventional financing and get more units. I personally wouldn't flip because it is time consuming and a lot of work, I like having more hands off along with passive income. Another option is to BRRR. Here in Kansas City you can purchase property 50K-70K with ARV's 115K+. I help out of state investors with this strategy, let me know if I can assist.
Real Estate Investor · Palm Beach County, FL · Member since 2017 · 3k+ posts · 2k+ votes
6y
Put it in a high yield savings account earning around 2% interest with zero risk while you learn everything you can.
Then use your $100k once you've educated yourself and picked out a strategy that aligns with your interests/goals.
Also make sure you are very cautious of people reaching out to you with "deals" and "opportunities" now that you announced having $100k cash on a public forum as there will be people who would love to spend (not invest) it.
Investor · FL · Member since 2017 · 247 posts · 245 votes
6y
@Andy Ramdeen Great topic! If you are an accredited investor, check out real estate syndications. This is the path I chose once I became accredited. It's a truly passive model that doesn't require your time and makes it easy to invest out of state. Prior to doing this, I did a lot in the single-family realm, all in my home state. Best of luck to you!
For starters, I wouldn't post on BP how much money you have saved up! I'd also take all the advise with a grain of salt as everyone is speaking from their own personal experience.
Here're a few articles that will help you step back and identify which route to take: active vs passive, and then narrow it down even further as to which niche to pick.
Investor · FL · Member since 2017 · 247 posts · 245 votes
6y
@Andy Ramdeen Good question. There are ways to invest in 506(b) offerings as a non-accredited investor; however, 506(c) offerings are 100% accredited with few exceptions. There are plenty of groups who do 506(b); however, they cannot publically solicit their offerings, so it's a bit of a "who you know" kind of game. Meetup groups and networking events are common places the find these.
Jacksonville, FL · Member since 2019 · 1 post · 0 votes
6y
@Andy Ramdeen Grant cardone had a fund at Cardone Capital for non accredited investors. It is now closed but I’m sure he’ll open another one soon. Follow him and check it out.
Specialist · New Rochelle, NY · Member since 2019 · 5 posts · 6 votes
6y
@Andy Ramdeen damn my brother, now you're going to get slammed with "investors", "mentors", etc. Widh you didnt annouce you had 100k LoL. None the less, just do your due diligence. Dont trust anyone, and start trying to wholesale. Small to no upfront investment. Best of luck!
Specialist · New Rochelle, NY · Member since 2019 · 5 posts · 6 votes
6y
Hey Andy, you're on the perfect site. Many people have asked that question, and im sure you will find it, when you search for it. Please read up, and ill see you at the top my brother. Best of luck!
Rental Property Investor · Mankato, MN · Member since 2018 · 14 posts · 26 votes
6y
@Andy Ramdeen We did the same thing and after having SFH's, duplexes, triplexes we have now realized in order to scale much faster we had to educate ourselves in buying large multifamily apartment complexes. We are SO glad we did because before we thought, oh maybe we can try to buy a 6 plex or 8. However, after we took the courses which weren't cheap, there was serious sticker shock I tell ya, we now are always going for 50 units and up. Plus you meet others just like you at the courses who have the same issue. They have some money to invest too but not sure which way to do it. You can find partners that way if you wanted to. We felt like we bought into an investor's club when we did it. We now have 253 units under contract which we never would have thought possible before we took courses! Have fun which ever path you choose :-)
Investor · Lexington, SC · Member since 2018 · 779 posts · 501 votes
6y
@Andy Ramdeen I agree that passive multifamily syndication is the way to go. It allows for no work on the asset and a truly passive investment with potentially higher returns in the long haul (15-18% annualized).
I am personally invested in 15 multifamily syndications in large apartment complexes throughout the southeast and Texas.
NOTE: Many operators allow for non-accredited investors. You just have to start asking to see if this is an option.
Feel free to PM me if you have further questions.
FINALLY: Due your due diligence on the operators as I’ve seen some people burnt by operators that didn’t have a track record.
Specialist · Earth 2.0 · Member since 2019 · 598 posts · 271 votes
6y
I would do your homework. I would first see if you want to be an active or passive investor. I would see about if you want to hold something yourself or check out multiple opps. To see what works for you best.