All Forum Posts by: Rosa Lepore

@Hector Coronel  would you suggest a few places in Michigan I can start looking?

@Gavin Welch

I was wondering that myself.  It confused me to see those #s.  I invest in a house for $100K and in 10 years it has only made me $10K in appreciation, it sounds like a loss.  My family member bought a house in 2017 for $72K and it's worth about $100K now, it's a higher appreciation then expected because they bought a bit low, but still that is in less than 3 years.

Also the 1% to 2%, I'm assuming you're talking about appreciation?  I would think it's a bit higher, no?  National average for 2019 was over 3% and they are predicting a lower appreciation for 2020 of 2.7%, so is Lakeland below national average?

Where would any of you suggest I look?  I'm open to other states as well.  I do plan to get a management company.

@Account Closed

Thank you Eric.  So I don't have a lot of expertise when it comes to investing.  I understand appreciation, but I don't know what you mean by ignore appreciation in Lakeland.  Also, I understand that multi unit properties are the way to go, I have started my search on-line on zillow and trulia and have not found any multi unit buildings in Lakeland.  I'm from NJ so I don't really know Florida too well.  I have a family member who has a rental property in Lakeland and one in Kissimie.  Other than that I would not know where to invest other than staying away from water.  Would I really be able to afford a 12 unit building with just $120K.  Where would you suggest that I look in FL?

@Caleb Brown 

So basically it comes down to how big of a risk I'm willing to take, there is no wise choice.  Buy one house make little money over the long run, no worries about having to pay a mortgage if there is no tenant for a while.  Buy 4-5 houses make more money over the long run, but run into the risk of having to cover mortgage payments if there is vacancy.  Do I have this right?

So we have a house with equity of about $750K, mortgage is paid off.  I am closing a business and am now collecting funds from it.  I have about $100-$120K to invest soon and about another $80-$100K to invest beginning of 2021.

I have been debating 529 plans, but I thought it would be smarter to invest in real estate.   So I was looking into Lakeland Fl.  Now I can buy one property for $120K and collect income without paying a mortgage or I could buy 5 properties and put 20% down and in the long run make a lot more money.  I have a short goal of 4 years where I may want to sell the property/properties and help my kids with college, or I may not have to.

So I ran the #s, by investing in the 5 properties after 4 years I would have made about $100K more than if I would have bought 1 house in cash.  Accounting for a 2.7% house market appreciation and 4% interest rates.  

I understand that buying all 5 houses with mortgages is riskier obviously, but what advise would you all give me.

Thank you!