How to make all cash investments work?
Hello everyone.
I am looking for advice on starting the real estate investment journey with an all cash deal. My story is that I used to live in the US but then moved back to my home country and now looking to come back. I made some real estate investments in my home country and I am in the process of liquidating them. I will have about $100K cash that I can use to get started. It will take about 12-18 months before I can reestablish myself in the US so credit is out of question for a while. I am also hesitant to put all this case in one deal because if I lose it, there goes all my savings:)
That said I want to dip my toes in the water before the interest rates come down and prices hike. Also I have about 1-2 years before I fully move so my goal is to have a small portfolio when I arrive:) I am familiar with the midwest area and will relocate there so looking at IL, MI, OH region. I see many properties that make me think it is doable but I posted on reddit and the consensus there was that my budget was not enough.
My questions are:
1) How would you go about it if you were in my shoes? I am open to creative ideas (private money, co-investing, flipping?).
2) Which markets are more suited for cash deals and provide the best ROI?
3) Do you think this is doable from afar? I will be traveling to US and can oversee some of the processes if needed but I am a newbie so I don't see myself as an all hands property owner.
Can you let me know if I can turn this idea into a plan or if I am just being silly.
Thank you for your consideration!
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- Real Estate Consultant
- Summerlin, NV
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dont be baited into buying low end rentals they are cheap for a reason. find a market you like establish the median price of the area for SFR's and buy at the median not 50% below the median your just setting yourself up for long term head ache not long term wealth.
- Jay Hinrichs
- Podcast Guest on Show #222