Best thing to do in real estate with $65k cash?

[Richard Davis]

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.

[Karl Denton]

Hello Richard, 
So first of Congratulations on your first ever flip! That's so amazing, would you want to do another or was this a really good deal you think would be hard to find again. So my goal with having some capital would be to try and use hard money for my next purchase where you could get the money back after refinancing the property. (So basically BRRRR, yes) However short term rentals in your state are probably pretty popular, iv heard of a interesting strategy some are doing. Near big area hospitals there's usually a need for traveling nursing staff and doctors. You can look into Airbnb arbitrage, where you rent someone's place and Airbnb that out. You can find a place near hospitals and that would draw in a lot of traffic from longer stay times. Check it out and see! Unique and very cool investing idea for STR.