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Updated over 5 years ago,
Sort of forced into it (new landlord)
My story real quick. My wife and I recently relocated from Louisiana back home to Florida where we're from. Our house wasn't selling, it was a very, very slow buyer's market where we were so even a full priced offer meant a loss on the house. But we weren't getting any offers at all, hardly any traffic. I remember someone I worked with moved and got a property management company to manage his house after he moved since he only lived in it for a couple of years.
I looked into it and was actually excited about the idea of this since at the time I was half way through Robert Kiyosaki's Guide to Investing. I had already read Rich Dad Poor Dad and The Cash Flow Quadrant.
Well, we got a tenant before the house even listed for rent and is currently generating, on average, $360.00 in cash flow after the mortgage and related expenses. My question is that our tenants have expressed great interest in buying this house after the two year lease they signed is up. I've run some numbers and if they do that, I should have something just north of a 100k to invest two years from now. With that much, where do people recommend investing. I like the idea of multi-family units and commercial property but I'm not sure if 100k is enough or if someone still so new to this should scale up so fast like that, e.g. one single family home straight to multi-family or commercial. Should I spend a few years with single family homes first?
As mentioned, I have a couple of years before I have to decide so I figured I'd start my education now. I've read through the beginners guide and they recommend posting here so I thought I'd get started on my education. Any thoughts or book recommendations or any resource recommendations are greatly appreciated.