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Updated over 8 years ago on . Most recent reply

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Abraham Anderson
  • Investor
  • Sevierville, TN
674
Votes |
121
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Advice wanted

Abraham Anderson
  • Investor
  • Sevierville, TN
Posted

Hello, I am looking for some advice on what type of property I should invest in (as well as where to look for a good deal),

A little background: The first deal I did was having a contractor I know build a 4plex, which I am now selling for about $20K profit. Once this deal closes, I will have about 100K in the bank available for investing. I am looking to potentially purchase an apartment complex, or maybe single family home(s). Should I pay cash? Should I get a mortgage in order to put less down/buy a larger property?

Some background about me: I have a full time insurance sales job, so I will most likely be using a property manager (unless you suggest otherwise), I've never rented property before, so I have 0 experience being a landlord. I also have 0 experience with woodworking, electrical, etc. I have a guy for that.

I am also very open (& appreciative) to suggested resources, currently I'm listening to Brandon Turner's audiobook. Thank you!

Most Popular Reply

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Dawn Brenengen
  • Real Estate Broker
  • Raleigh, NC
1,866
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2,667
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Dawn Brenengen
  • Real Estate Broker
  • Raleigh, NC
ModeratorReplied

@Abraham Anderson  I always say to not focus too much on what kind of asset you are going to buy but to go where the deal is.  So, if you find a great single family, buy it.  If you find a great apartment, but that.

I would leverage the 100k to finance more.

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