All Forum Posts by: Tim Richardson

Greg and Jack, thank you for the pointers. I agree I don't want to jump the gun and get into a mess right out the gate. I assumed the multiplex was the end goal after getting some single family experience under my belt. Isn't there even more to learn to manage in multiplex ownership? Seems like a bigger learning curve there. 

Do you guys own any multiplexes? What size would you recommend to start out with? What advice do you have getting started in multi family?

Can you refer me to a blog or article about starting out with multi?

Thanks a bunch! Beginning to see how this site can really help.

Isaac, feel free to send if you think it would be helpful. Trying to gather as much info as possible.

Hi everyone. I am brand new to the Bigger Pockets Community but love the info so far. I am selling my business and will have at least $100,000 cash to get me started, plus ongoing payouts over 4 years that cover my family's living expenses during the entire 4 years. I recognize many people would love to be in this situation and feel extremely blessed by it, but being new to investing I'm not sure how to maximize that lump sum. I don't want to simply throw my cash away at the first deal that comes my way. I am thinking it would be best to pay cash for a distressed property, fix it up, rent it, then refinance and start the process over again but want to do it right. Maybe there are other options that would move that investment faster...again, not exactly sure how to proceed. I am a good helper with projects but am not from a handyman family, and don't know any reliable contractors. We have a personal residence that we could move out of if something were to come up and it would cashflow about $300/month right now if we rented it out.

Does anyone have any advice on turning that $100,000 into maximum passive cashflow within the next 4 years? Thanks for any insight.