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Updated almost 5 years ago on . Most recent reply

User Stats

7
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4
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Ryan Bergevin
  • Rental Property Investor
  • Salt Lake City, UT
4
Votes |
7
Posts

What should I do next?

Ryan Bergevin
  • Rental Property Investor
  • Salt Lake City, UT
Posted

I am wondering how best to expand my real estate investments. I currently have 5 MF properties with 14 units. I am currently working on cash out refis for 2 of my properties. With that and a HELOC on my primary residence I should have about $200k to invest within the next month or two. For those of you who have already expanded past this point, if you could go back to when you had just a few units what would you do if you had $200k to invest? For some background, I live in Salt Lake City and my current rental properties are in Ogden, UT. I have started looking in Southeast Idaho (Pocatello, Blackfoot, Idaho Falls and Rexburg) but haven't found anything yet. I'm open to investing in syndications but don't know if that is better than investing in individual properties at this point. I would like to get into larger apartment properties or commercial properties. I'm also interested in self-storage and mobile home parks. My goal is to build up my portfolio and cash flow to the point where I can quit my day job and focus entirely on real estate within the next 5 years.

Most Popular Reply

User Stats

909
Posts
626
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Don Spafford
  • Investor
  • Idaho Falls, ID
626
Votes |
909
Posts
Don Spafford
  • Investor
  • Idaho Falls, ID
Replied

@Ryan Bergevin You have to do what feels right for you. There are many possibilities. You could use it for a down payment on a 12-20 unit complex somewhere and double your doors. You could use it to start doing some BRRRR investing so that your money never runs out and if you do that for 5 years you would have plenty of properties with equity and hopefully enough cash flow to live your dream. Alternatively, if you did a Syndication you could learn from the general partners the process and then be a GP on another one and share in the profits and maybe then even 1031 into a large complex of your own. Each possibility can lead to others, and each bring their own set of problems to deal with as well. So it's up to you to decide what you will do. I am in a similar situation as you. I am starting the process to do some BRRRRs and also working with some people to invest in large complex deals.

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