100k cash what should I do with it in this market

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100k cash what should I do with it in this market

Akeem Moreno
Real Estate Agent · Brooklyn, NY · Member since 2019 · 100 posts · 25 votes

First time home buyer here and I would like the opinion of the BP community. I have 100k cash what would be the best strategy to build a passive portfolio in 3-5 years and double even triple my initial investment. I know about house hacking, brrrr, buy and hold.

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Whitney HuttenPro Member
Investor · Boulder, CO · Member since 2016 · 1k+ posts · 1k+ votes
6y

@Akeem Moreno All of them! If I were starting over again, I would eliminate my housing bill through a continued househacks that I continued stacking on each other and holding as rentals.  I would also focus on 2-4 unites to max my conventional spots. I would buy units that needed work, tenant them, refi them, and then hold the househack.  Then after 2 years, I'd move out and do it all over again. I'd save the money that I would have spent on housing to accelerate my nest egg for the next building.

If househacking isn't an option, then I'd do live-in flips to buildup cash and invest that into rentals (BRRR or buy and hold). That way.

Everyone's life situation is different, so you really have to find what works for you and your life. PM me with Q's!  

Podcast Guest on Show How to Build Generational Wealth Without Losing it Along the Way
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  • Zeke Liston
    Real Estate Agent · Columbus, OH · Member since 2018 · 1k+ posts · 1k+ votes
    6y

    Hi @Akeem Moreno, I would find a market that cash-flows and appreciates well. Columbus, OH is a great market that archives both of those criteria. 

    2Reply
  • Brian Garrett
    Real Estate Investor · Palm Beach County, FL · Member since 2017 · 3k+ posts · 2k+ votes
    6y

    I wouldn’t announce on a public forum that I have $100k cash. Furthermore you mentioned you know the strategies already so just choose the one that fits your goals.

    4Reply
  • Whitney HuttenPro Member
    Investor · Boulder, CO · Member since 2016 · 1k+ posts · 1k+ votes
    6y

    @Akeem Moreno All of them! If I were starting over again, I would eliminate my housing bill through a continued househacks that I continued stacking on each other and holding as rentals.  I would also focus on 2-4 unites to max my conventional spots. I would buy units that needed work, tenant them, refi them, and then hold the househack.  Then after 2 years, I'd move out and do it all over again. I'd save the money that I would have spent on housing to accelerate my nest egg for the next building.

    If househacking isn't an option, then I'd do live-in flips to buildup cash and invest that into rentals (BRRR or buy and hold). That way.

    Everyone's life situation is different, so you really have to find what works for you and your life. PM me with Q's!  

    Podcast Guest on Show How to Build Generational Wealth Without Losing it Along the Way
    5Reply
  • Account Closed
    Investor · Milwaukee, WI · Member since 2013 · 1k+ posts · 1k+ votes
    6y

    Wait for the stock market to bottom and buy.

    3Reply
  • J Morales
    Member since 2020 · 3 posts · 2 votes
    6y
    Interesting question! would like to see the responses!
    1Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    6y
    Originally posted by @Akeem Moreno:

    First time home buyer here and I would like the opinion of the BP community. I have 100k cash what would be the best strategy to build a passive portfolio in 3-5 years and double even triple my initial investment. I know about house hacking, brrrr, buy and hold.

     I started with much less money than that and have now surpassed it. I started with house hacking to 10 units in Columbus, Ohio. I think that is a great way to build wealth. I then leveraged my knowledge I learned while getting my first 10 doors to brokering deals.

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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    4Reply
  • John Collins
    Investor · Tx, GA · Member since 2019 · 313 posts · 337 votes
    6y
    Originally posted by @Akeem Moreno:

    First time home buyer here and I would like the opinion of the BP community. I have 100k cash what would be the best strategy to build a passive portfolio in 3-5 years and double even triple my initial investment. I know about house hacking, brrrr, buy and hold.

    To significantly increase an initial investment of $100k in RE, there is only one answer - creative financing to maximize leverage on properties you get below market (which will happen more frequently over next 6 months). To find out about financing, talk to 5 or 6 banks and see what rates you can get with your income level. Might even have to do hard money to refinance after a few months. At this price point cash flow is most important , appreciation is a bonus, so multi units would be a priority. 

    0Reply
  • John Collins
    Investor · Tx, GA · Member since 2019 · 313 posts · 337 votes
    6y
    Originally posted by @Remington Lyman:
    Originally posted by @Akeem Moreno:

    First time home buyer here and I would like the opinion of the BP community. I have 100k cash what would be the best strategy to build a passive portfolio in 3-5 years and double even triple my initial investment. I know about house hacking, brrrr, buy and hold.

     I started with much less money than that and have now surpassed it. I started with house hacking to 10 units in Columbus, Ohio. I think that is a great way to build wealth. I then leveraged my knowledge I learned while getting my first 10 doors to brokering deals.

    You mean SFH's? Or a 10 unit multi?

    0Reply
  • Akeem Moreno
    OP
    Real Estate Agent · Brooklyn, NY · Member since 2019 · 100 posts · 25 votes
    6y

    @John Collins multi family

    0Reply
  • Akeem Moreno
    OP
    Real Estate Agent · Brooklyn, NY · Member since 2019 · 100 posts · 25 votes
    6y

    @Whitney Hutten Hi that was really informative I thank you. Yes I would love to pm you for more details and questions

    0Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    6y
    Originally posted by @John Collins:
    Originally posted by @Remington Lyman:
    Originally posted by @Akeem Moreno:

    First time home buyer here and I would like the opinion of the BP community. I have 100k cash what would be the best strategy to build a passive portfolio in 3-5 years and double even triple my initial investment. I know about house hacking, brrrr, buy and hold.

     I started with much less money than that and have now surpassed it. I started with house hacking to 10 units in Columbus, Ohio. I think that is a great way to build wealth. I then leveraged my knowledge I learned while getting my first 10 doors to brokering deals.

    You mean SFH's? Or a 10 unit multi?

    a double and two quads 

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
    Reafco512 Reviews
    WebsiteView Page
    0Reply
  • Filipe Pereira
    Property Manager · Windsor Locks, CT · Member since 2016 · 1k+ posts · 1k+ votes
    6y

    You should:
    1. Find deals / build a team.
    2. Buy deals. 

    3. Get teams going, save up more cash and rinse and repeat. 

    I didn't tell you anything that you didn't already know, right? The answer is always to buy deals. But that's difficult to do, especially in these times. Either way, I'm here to push you to DO. Sitting around won't double or triple the money, but buying something (even if it's not a home run) could put you ahead. This 100K is unlikely to be your only 100K ever, so remember that even if you don't max out the leverage now, you will have more opportunities later. 

    I think people get too caught up in finding the perfect home run deal. Single base hits also accumulate to runs if you put enough of them together! I also think that the only way to get a home run is to be in the batter's box swinging. In real estate that means being active, looking at deals and throwing offers out there. 

    Happy to chat about the CT market with you if you find NY isn't making sense for you. 100K out here can get you a 4-6 unit building bringing in 4-6K per month (gross). 

    Go get 'em!

    0Reply
  • Jaysen Medhurst
    Rental Property Investor · Greenwich, CT · Member since 2015 · 4k+ posts · 2k+ votes
    6y

    Passively double or triple your investment in 3-5 years, @Akeem Moreno? Put all your money in one stock and get very, very lucky.

    Those expectations are unrealistic. You might be able to get that kind of return, if you're will do some work, though. Find off-market, value-add properties where you can force appreciation. Cash out. Rinse and repeat.

    I'll second what @Filipe Pereira, said lots of opportunity in CT.

    0Reply
  • Akeem Moreno
    OP
    Real Estate Agent · Brooklyn, NY · Member since 2019 · 100 posts · 25 votes
    6y

    @Filipe Pereira let’s talk brother

    0Reply
  • Akeem Moreno
    OP
    Real Estate Agent · Brooklyn, NY · Member since 2019 · 100 posts · 25 votes
    6y

    @Jaysen Medhurst yes don’t mind putting in the work so I can reap the benefits later.

    0Reply
  • Rich Ramjatan
    Contractor · Bronx, NY · Member since 2020 · 27 posts · 15 votes
    6y

    @Filipe Pereira

    Windsor locks?

    0Reply
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