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Updated almost 6 years ago on . Most recent reply

User Stats

34
Posts
8
Votes
Jason Butts
  • Rental Property Investor
  • Cambridge Ohio
8
Votes |
34
Posts

What’s best way to invest $200,000 cash to create income

Jason Butts
  • Rental Property Investor
  • Cambridge Ohio
Posted

I’ve recently inherited money and would like to try to set myself up with a steady income with it. I don’t work because I am disabled, and where I live has a lot of multi family houses for sale that average around $15k-$20k/unit. Banks won’t talk to me because I can’t prove future income. I have no debt except for a car payment. I’ve thought about buying 2-2 family houses for $30k each, and then trying to talk to the bank to mortgage a third, and then how ever many they are willing to help with after that I would be on board with. I’d also buy more with the cash as needed. The rents average $500/unit. A accountant that met with me for a free evaluation mentioned a bank cd to create income to get a mortgage from the first house and so on, but I don’t understand what that means. My aunt has used BP for years and recommended I join the community. I’ve enjoyed reading countless hours of content and have learned a lot from you all. Thank you.

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