All Forum Posts by: Adrienne Binder
Adrienne Binder has started 3 posts and replied 22 times.
Post: How would you invest $500k to start flipping?
- Rental Property Investor
- Houston, TX
- Posts 22
- Votes 14
I inherited a property that is in the process of being sold. Once the deal closes at the end of the month I am looking at paying off all debt and have the opportunity to continue investing in real estate in the sum of about $500k. My wife and I have a couple of rental homes which cash flow nicely. One of them is paid off and the other has a balance of about $60k. Other than our rental homes we are total novices in terms of flipping, wholesaling ect. but have read a few books, watched some YouTube videos and read a lot on this site. I guess I’m just trying to figure out the best approach to grow a business that will allow me to retire in about 10 years. With our personal home (paid off) our two rentals (valued at about $350k for both) and this lump sump- we hope to cash in our chips and live overseas and I’m seeking strategies on the best route to do that.
Would you buy a couple more rentals in cash and put 20% down on another and let the extra cash flow pay it off and then maybe get another in a few years?
Is it smarter to buy a couple wholesale, flip and then rent?
Is wholesaling where it’s at?
There is a realtor that works with a contractor that I met recently that could help us potentially flip to sell?
Where would you start to grow a business that you could liquidate in 10 years if you had $500k?
Thanks for any input and advice!
Post: Newbie financing question
- Rental Property Investor
- Houston, TX
- Posts 22
- Votes 14
My husband and I are wanting to start investing into single family homes in a high demand/low supply area near us. Homes run from $160-$200 turn key. And have gross yields around 10%, Coc has high as 14% and cap rates around 8%. We are starting with $300k now and will be investing $500k more when an inherited property sells.
What is the best financing strategy for long term success? We both have good credit and recently applied for an LLC. Should we buy the first in cash and then finance a couple? Should we put 20% down on several? Our goal is to grow a business to leave to our kids and have more time together as family by working together in real estate/property management full time.