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Updated about 1 year ago on . Most recent reply

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6
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2
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Jacob Hancock
2
Votes |
6
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25 Year Old with 500K in liquid Cash. Wanting to build duplex - all the way to quad

Jacob Hancock
Posted
Hi everyone,
I have a chunk of money I am wanting to put into real estate. I am wanting to get some advice on what to do. I do not currently own any investment real estate.

My question is, with the cash that I have what would be the best route to go? Duplex, triplex, or even quadplex?
*how much is the costs to build each of these?
                    - ideally I would like to do two bed two bath or maybe even one. not opposed to 3 bed two bath.
I would like to build new.
-I have good connections with a local contractor that could do it. Mind you on these I would use mini splits.

secondly, would you recommend a barndomenium style, brick with vinyl siding, or all vinyl?
Im not scared to leverage but on my first investment I would like to do half down to limit risk and build more knowledge before I started leveraging more.

any tips or ideas are most certainly welcome. Thank you so much guys.

Best,
Jake


Most Popular Reply

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18,221
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15,648
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Chris Seveney
  • Investor
  • Virginia
15,648
Votes |
18,221
Posts
Chris Seveney
  • Investor
  • Virginia
ModeratorReplied
Quote from @Jacob Hancock:
Hi everyone,
I have a chunk of money I am wanting to put into real estate. I am wanting to get some advice on what to do. I do not currently own any investment real estate.

My question is, with the cash that I have what would be the best route to go? Duplex, triplex, or even quadplex?
*how much is the costs to build each of these?
                    - ideally I would like to do two bed two bath or maybe even one. not opposed to 3 bed two bath.
I would like to build new.
-I have good connections with a local contractor that could do it. Mind you on these I would use mini splits.

secondly, would you recommend a barndomenium style, brick with vinyl siding, or all vinyl?
Im not scared to leverage but on my first investment I would like to do half down to limit risk and build more knowledge before I started leveraging more.

any tips or ideas are most certainly welcome. Thank you so much guys.

Best,
Jake



 Before dumping $500k into an asset, maybe consider something smaller and spending like $50k or $100k on a less expensive property. If this is your first property I would start smaller and learn the business. Contrary to what people post on BP, you can lose money in real estate, and lose a lot of it. So I would start with a smaller amount and make sure you understand the business. I would rather have 5 properties that I put $100k in than one at $500k when I am getting started. 

  • Chris Seveney
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7e investments
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