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Updated over 2 years ago, 04/01/2022
Best thing to do in real estate with $65k cash?
In Atlanta, but willing to invest anywhere. Tomorrow I close on my first successful flip. I have a fun and practical question:
I'll be coming out with $65k cash. I don't need it to live. I want to reinvest it into real estate with whatever strategy will allow me to multiply the wealth the most and fastest.
I've considered: Sign a lease-contract on somebody's fixer-upper property, renovate it with my money to generate forced appreciation, then when the renovations are complete both (a) buy it and (b) cash-out refinance it at the same closing table, and afterwards run it as a short term rental for the long run.
I am open to any and all ideas. Doesn't have to be a BRRRR, doesn't have to be short-term, doesn't even have to be residential. Hit me with your best shot. I am open to partnering if that's part of the strategy. For the record, my long term goal is to generate enough cashflow to support the poor with a huge empire, but there are many steps of wealth-multiplication between now and that endpoint.