What to do with $150,000

9 Replies

We refinanced our house to purchase a property we were going to run as a STR. Closing costs to refinance were $2500. We had enough home equity to pay cash for the house. Seller backed out on deal. Advice on how and where to invest or use the money. We could just put it back toward mortgage but would like to purchase some assets.

@Jenni Utz . Thank you! I know Brandon Turner says it doesn’t have to be a buyers market because there are always good deals to be found but what is your opinion on what the housing market will do in the near future?

It’s looking like I am going to be homeschooling 3 kids this year so I am a little concerned on being able to commit to 2 properties, especially because they would be my first properties. I just started learning about 4-5 months ago!

@Kayla Utley I would definitely recommend that you get started in RE by using that money to buy your first few units. I have an incredibly stressful job as a professor, commute 2 hours per day, homeschool my 9th grader (she’s pretty self-sufficient) and own and self-manage 13 units and about to grow to 50 units…and quit my day job finally…yes it is hard work (and my husband is definitely neglected but he has a $3M net worth now so…) you can do it!! 

@Dante Pirouz

Thank you for your advice! It sounds like you have a lot to be proud of! Congratulations on all of your successes!😄 I saw you were from Michigan as well and wanted to connect. We are from Northern Michigan and still haven’t made our first purchase yet but we are working towards it! We have the money, we are working on finding the deal!😁

Utilize leveraging with how cheap it is. I'd buy STR. You could BRRR. Flip. Go into MF(up to 600K). Syndications. Turn key SF's. Partner

@Kayla Utley Thanks for the kind words…but I won’t feel like I’m winning until I drop my job once and for all (you can tell I don’t love my job, right?)…I’m very, very close though! I started with BP 5 years ago with just $60K from an inheritance from my wonderful mom and thanks for @Brandon Turner and his BRRR and rah rah attitude I turned that into $3M in real estate assets, for the most part in Michigan. I haven't had much help (my husband is a RE investing doubter), my kids run away from me when I ask them to help reno a property and everything else on my plate. Right now I have just refi'd and sold some properties which gives me the cash to reinvest in a large 35+ unit multi so I know you are in a good spot having the cash available to take the plunge…don't hesitate because I really think the rental market is becoming very strong and it has been the smartest thing I have ever done even with all of the hard work and crazy moments (raw sewage under the house for example :). If you think that you might be interested in partnering on a large multi deal I'm happy to talk details with you to see if it is something that could work for you rather than going it alone. Just let me know!! All the best!

@Kayla Utley

If you want to make residual income and cash flow, lend it right now. Our clients lend money out right now at 12% and 3. 75 points. So what you have to do is go in and learn through getting educated from others who are in the process.

Also, you can lend as little as 5,000 up to millions. If you lend, you now have skin in the game via a lender and you're going to lend to people who are in the business that know what they're doing. You want to lend to someone who's done 10,20 or 100 homes. It allows you to be able to invest in them and then watch what they do through the process and then learn from the person who knows what they're doing. That way you're making money right at the start but you're also getting educated because your money is involved.


This is my advice and If you have more questions, let us know how we can help you.

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