75-100K to invest, age 25, Com. Appraiser What would u do?
I'm 25 yrs old, have around a 100k to invest, and live in the Bay Area. I also am a commercial real estate appraiser so I have a good understanding of valuation of all sorts of commercial properties. I also am expecting a steady increase in salary as I become more experienced in my field, so far I've been appraising one year. I have good credit and plan to invest sometime next year, probably 6-12 months from now.
My question is: If you were in my situation, how would you get started? My market is so overpriced that duplexes and smaller multifamily properties sell at 3-5% capitalization rates and positive cash flow is not possible. I think it makes more sense to rent than buy in my market at the time being. I have family in Florida (central east coast) and would like to invest there. I could possibly have my father be a handyman and property manager while I'm 3,000 miles away.
I realize that there are many different options and paths to begin rei. I am considering buying an apartment building that cash flows and expanding from there. I would consider retail or office space as well. I would appreciate some ideas and input.