$350K in home equity credit....how would you invest it???

[Rob Estes]

So basically the title says it all. I have approx. $350,000 in home equity that I am looking to reinvest. I wanted to get suggestions from those of you with much more experience then I have. Right now, I have a rental single family home and the home I currently have. 

I was looking to go in one of three direction (and completely open to other possibilities). And would like to go the buy, hold and rent route I think at this point opposed to the "flipping". 

1) a multi-family unit. Currently looking at a 4 apt. building in that prince range

2) A Caribbean condo rental property. 

3) Buying 2 or 3 condos locally. 

Thanks for all your input and suggestions, 

Rob 

[Jon Deavers]

@Rob Estes

Hey Rob. I think it's all going to depend on the market you're investing in or planning to invest in. If someone in your situation was looking in the Richmond area, I would recommend small to mid-size multi-family at this point. Properties are available here that cash flow well in the 1-4 unit size and there are a few larger multi's that would be great opportunities for cash-flow with that level of capital. I can set you up with a referral in MD or there's probably a bunch of good contacts here on BP.

Alternatively, you could look for a syndicated deal and really up the game with a large multifamily property. $350k could buy you a sizable stake in a partnership.

Good luck and congrats on the success so far!