$100,000 to spend, I need advise

50 Replies

Hello BP collegues/friends, 

I work and live in Miami, FL; and I invest in out of state rental properties. I recently was recently awarded $100,000 and I wanted to get advise on the best way to use the funds and make a great return? I am not closed on the strategy and or method. In my market place, it is not ideal to effectively use these funds here thus I am seeking other opportunities. I am not to interested in holding assets with these funds, I prefer to double the funds then buy more holding assets. At your earliest please give me your thoughts everyone. I look forward to hearing from you guys soon. Thank you in all in advance. 

Regards,

@Joe Villeneuve

thank you for the prompt feedback. I understand and greatly appreciate your concerns. My situation is so detailed that I wanted to give my exact issue and hopefully get some great advise. As far as your offering, can you email the details?

Regards,

Originally posted by @Duriel Taylor :

@Joe Villeneuve

thank you for the prompt feedback. I understand and greatly appreciate your concerns. My situation is so detailed that I wanted to give my exact issue and hopefully get some great advise. As far as your offering, can you email the details?

Regards,

 Sorry Duriel...that was a little sarcasm...just to reinforce my point.  LOL.

Have you ever watched Brewster's Millions?  It should be required reading for all investors...for a number of reasons.

@Joe Villeneuve  

thank you for the feedback. No worries, I was not advertising "hey hey come rob me" lol. I will surely look into that book, i have not read this book before. Can you tell me more about your deal in SFLA? I look forward to hearing from you soon. 

Regards,

@Duriel Taylor Since you are not interested in holding any Real Asset, one option is you Joint Venture, with someone on a Flip. One scenario could be YOU are a Passive Investor by paying the Holding Costs and down payment while your Jount Venture Partner is responsible for the Hard Money Loan, managing the project, and liquidating the asset. After everyone is made whole, the Net-Net Profits are split 50-50. This is one of many possibilities. Another option is you could be THE BANK and loan money, to Investors, at x%, for a specific duration.

@Thomas Franklin thank you for the prompt feedback. The numbers for a buy and hold will not workout, with my desire to have my funds back with 6 months to a year. I like your strategy. I will start networking with investors whom may need funds for projects. If you know of anyone please keep me in mind. Take care. 

@Duriel Taylor Why not do some hard money loans doing rehabs through a crowdfunding platform? You could spread it out over multiple projects and look for opportunities in the the interest rates that are best suited for the amount of risk you want to take? There are plenty of projects with 6-12 months terms.

@Shea Davidson thank you for the prompt feedback. I was going to look into that, I just had no idea how to get that started. I also wanted to turn to the BP family/friends first. Which platform would you say is better than the rest? I look forward to hearing from you soon. 

Regards, 

@Duriel Taylor

Hi there

I have been posting quite a lot about Detroit, I am pretty excited about what I am seeing in Detroit. Good market for flipping but also for buy and hold. 
What we are seeing now is a market that is starting to rise.

However, you still need to be very selective on what you buy and where. Inventory is starting to tighten and big business is coming back. If you want to learn more I have a couple of deals I posted. One of my deals is a flip, which I plan to continue to post in stages.

This was my first post on Detroit

https://www.biggerpockets.com/forums/55/topics/619388-detroit-the-come-back-kid

@Marisa R. thank you for the prompt feedback. I was looking at an apartment deal a few months ago, and fast forward 5 months later the cap rates has increased, so I understand your market improving. I prefer to be a passive investor. I would be interested to learn more about your projects and or potential projects? I look forward to hearing from you soon. 

Regards,

Duriel, at this stage, your best move is twofold:

1 - To learn a lot more about the many ways to use your funds...not spend them. In my mind, the only way to invest is to get your money back within 6-12 months of each use (of the same funds). This includes hold properties...and yes you can. There are many was to invest in a hold property, get your seed money back, and retain control over that hold property (and keep it cash flowing). REI is the only method I know of that allows you ways of doing this.

2 - Use the money, initially, as short term loan money.  This way, you are making money while you are executing #1 above.

@Joe Villeneuve thank you for the feedback. Agreed, surely I have not intentions to spend it without return (no shopping nor clubbing LOL). I will start looking in these methods and look at markets in which I can execute either plan. I would to use the funds as passive but the cash flow option seem great if I could get my money back in 6-12 months.

Check out groundfloor.com. You don't have to be accredited and i think if you are wanting to recoup your money within a year it might be a good fit. I did a lot of research and so far have been happy with them. 

Originally posted by @Account Closed :
Originally posted by @Joe Villeneuve:

First thing...Dob't advertise to the world you how much you have.

Second, I have property in South Florida...South of Miami.  I just happen to be selling it for $99k.  Are you interested?

 I dont see the harm in posting how much one has.  If a person is going to get scammed i bet he will even wo posting actual numbers.

Now this guys premise is just asking to be scammed......lol.  Double money then invest prudently.......Okie dokie.

 Actually, I don't see a problem with it.  Double the money, then invest in cash flow sounds about right...perfect actually.  Easily doable too.

There's a lot of options for you. I wouldn't shy from longer term deals either. Here is a list of some ideas: 

1. Invest in a RE syndication

2. Hard money lending

3. Invest in a NNN lease building

4. Invest in a business/company

5. Actively invest in your own deal 

If you want to know more about any of these, reach out. I have done several of them myself.

@Account Closed thank you for your feedback.  I believe Joe was simply expressing how scammers and or wolves are everywhere. I wanted to get advise from people from this platform and maybe even direction. I do not have many people in my inner circle who has done this before, not because I have not tried to "network" with people, Miami, FL is a different kind of place.