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Updated almost 4 years ago, 01/19/2021
2.3MM in Stocks. 0 in Real Estate at 32
Hello,
I gave a friend seed money to start a construction company and he bought me out in 2020.I put the money with my aggressive mutual fund(13% growth rate in past 3 years.). It's currently worth 2,300,000(my friend is the only person that knows this). I don't want to touch the stocks nor change the way I live. I want to retire early and be able to have a diverse portfolio.
I have 250,000 set aside for real estate investment in 2021.I have $90,000 as my safety net. I made $75,000 in 2020. I'll make $85,000 in 2021. I should make $150,000+ by 2025 due to recent events/conversations with owner. I really enjoy my job.
I'm 32 no kids and have never had a loan or credit card. I just ordered a card. I live with my long time girlfriend in her house. She has about $90,000 left on it and her rate is 5%. She has excellent credit, govt employee earning just shy of 50K.
I'm located near Daytona Beach, FL and looking to invest in multi-families in the surrounding areas. There's not many multifamilies available in areas I'd like to invest (Ormond Beach, Port Orange or NSB).
How do I find properties with a good ROI? How much should I put down and still have enough for repairs?