All Forum Posts by: Fareed Zahid

Fareed Zahid As a fellow New Yorker, what does your current living situation look like? Do you own or rent and do you plan on staying here long term? As I'm sure you know, prices are crazy here and it's good to have your living situation sorted out before you start investing. If you're renting, maybe consider house hacking by buying a multi family and living in one of the units. Expensive, but it will generally work out better than renting. If you already have a place to live-personally went the route of investing out of state. 300k can go a long way in other markets, unfortunately not so far in NY.

@Fareed Zahid - First of all, I wouldn't advertise openly too much that you have money and how much exactly you have. Here, on this forum is OK (because you are getting advice), but I am talking about going out and about when  interacting with people on more personal basis. 

As far as what to do, it entirely depends on your goals and dreams. You can buy and hold large multi family commercial units. About $1 million range if you'd like with 20-25% down, or join with other investors and get even a bigger property, or you could start multiple fix and flip projects. You could get into note investing and become a banker (of sorts). It all depends on what you want to do. Each requires a separate skill set that you need to acquire. 

Personally, I would have done a lot of reading, learning about real estate without spending lot of money. Most of the things you need to know are available right here on these forums. I would have just spent good 5-6 months absorbing knowledge. Then I would start a few fix and flip projects to grow $300K. Once I reach about a $1 MM range, I would invest most of the money in big multifamily projects.  Good to start locally, and then expand in other parts of the country is my motto. But that's me. Not you. You need to decide what works for you, and what doesn't.

Good luck.