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Updated about 3 years ago on . Most recent reply
My first long term flip/investment - advice wanted
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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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!
- Joshua Janus
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- 614-502-5316
- Podcast Guest on Show #1