What would you invest in, with $50k???

Question

I have 50k savings, want to invest in something, not sure what, looking for some ideas! So what would you do to make this 50k sum a larger one!?

Jordan Berry · Answer

@Jack Daw I own a couple of laundromats and I think that would be an interesting asset for you to look into at that amount of capital. I have found the cash flow from laundromats to far outperform that of most real estate investments pound for pound, especially in your area. 25-35% unleveraged is pretty common. I wrote a member blog on it last week and I think it's the top member blog this month if you want to check that out.

I own a couple of laundromats in LA. I also run a website for laundromat owners and prospective owners with a ton of free information and resource. PM me if you want the link. I'd also be glad to answer any laundromat and/or commercial real estate related questions that come up.

Jack Daw · Answer

@Damian Bialonczyk

That was my initial thought, as I can plaster, paint and drywall so I have some skills that I could use to make a renovation cheaper.

I just have no idea where the best places are to get a good deal. I’ve been looking on trulia and Zillow for a while now and nothing screams out to me as a good deal.. I’m located in Venice, California so I want to keep what investment I get into within an hour or twos drive especially if I bought something that i would rent out.

Other places I’ve looked like Auction.com don’t do finance only cash purchases.

I’ve also liked the idea of coin laundromats and the possibility of owning a few in the future seems like a safe profitable business.

Thanks for your input.

Jack.

AJ Singh · Answer

@Jack Daw

you can invest in inland empire. you should be able to get a 3bd rental and DIY it to improve ARV.

Jack Daw · Answer

@Joseph Firmin

Hello Joseph, thanks for your input.

So I’m in the process of moving from a 1 bed apt

to a bigger place due to an expansion in the family, so we need more room. My wife, wants to get a mortgage on a house right away, which I only want to do if it’s a place we can live in for a couple of years, while I renovate and move on to another place. So the SFH idea is something I’ve been looking at. Problem I’m having is where to find the best deals in a good location, we’re in Venice, Ca.

Duplex would be great but I’m having same problems there as above. Finding the right deals in the right places, and options are limited as I’d think if I owned and rented a duplex I’d need to be close incase it needs attention. Sites like Auction.com only seem to only offer cash deals and hardly nothing on finance.

I had hoped that I could get into coin laundromats and possibly aim to own a few in the future, I think it’s a pretty safe, profitable business.

So yeah that’s my life story haha but if you had any other tips on finding deals for such places I’d be very appreciative.

Thanks again,

Jack.

Ronan Donnelly · Answer

I agree with @Joseph Firmin, work through your goals and objectives and then work backwards to see which approaches are the best fit for your skills, personality, time, experience and money. Good luck!

Joseph Firmin · Answer

Start with your goals @Jack Daw. That should lead you to your answer. If you want to own some SFH, then that will lead you one way. If you want to get multifamily experience, you could invest in a syndication deal or buy your own duplex, etc... Start with the end in mind, then back into what you should do.

Damian Bialonczyk · Answer

@Jack Daw

Depending on your market that would be enough for a conventional loan downpayment on a multifamily home. Look for something that could be renovated!

What would you invest in, with $50k???

Most Popular Reply