All Forum Posts by: John Swiger

My business partner and I have worked up through sweat equity $500k through flipping houses and working on our businesses. We would like to grow more but we are stuck in a rut. If you had $500k cash how would you invest it? Please any ideas wold be so grateful! 

I have three properties that I need to do something with, any ideas would be so grateful. I'm in my late twenties and needing a way to save my mom from not having a savings. Here the properties: 

1. My mother's house (she currently is 65 doesn't have a savings). The house is in San Antonio, market value $430k, needs about $50k in work to get it there.  Is paid in full, no capital gains taxes required. 

2. My first house (in Austin) I purchased 4 years ago (I lived in for 3 out of the 4 years). I owe 105k and could sell for 260k. Needs about 20k worth of work to sell. No capital gains required if sold soon. Could rent for $1600, cost a month is $1200. 

3. My current residence (just outside of Austin) was a silly money pit purchase for $375k and could sell for $500k (I owe $289) after about $50k in repairs. Need to live there one more year to avoid a capital gains tax or could do a 1031).  

I need to figure out a way to generate the most income from the sale of these houses, or to keep my first house and then figure out another solution. Any help would be great! Need to figure out how my mom can survive :)