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Updated about 3 years ago on . Most recent reply

Account Closed
  • Homeowner
  • Boston, MA
1
Votes |
7
Posts

My first long term flip/investment - advice wanted

Account Closed
  • Homeowner
  • Boston, MA
Posted

I purchased a multi-family in a rougher area of Boston when I was 25. It was in very bad shape. I am very handy and did a long term sweat equity renovation. My tenants love me, but I am sick of the area and burnt out. Flash forward 8 years, I have decided to sell - house goes on the market in a week. I left my job a few months ago to make some life changes, including moving to FL - So I will soon have a chunk of cash, but no verifiable income for x amount of time until I find something. Curious what others would do in terms of starting over? What type of property would you look for?  Assume 250k cash and no job/income.

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Joshua Janus
  • Realtor
  • Cleveland, OH
1,488
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Joshua Janus
  • Realtor
  • Cleveland, OH
Replied

I would find a turnkey multifamily property to make this transition easier and more manageable. Then like Tim said, use the remaining funds as a 20% down payment on another. Good luck!

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