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Updated almost 8 years ago, 12/26/2016
Turn $100k into $5k/month positive cash flow
Looking to turn $100k into $5k/month in positive cash flow in 1-2 yrs
Hi, I just sold my rental property and refinanced my primary residence. Now I have a bit over $100k to invest and would like to scale into a business. A few options I have been considering:
- New construction
- BRRR
- Commercial/multifamily
- commercial/retail/business/strip malls
My situation:
I live in Toronto, Canada where the market is very expensive, taxes and cost of living are high. I have a real estate license which works for my benefit however I would like to relocate with my family somewhere warmer near the ocean with a lower coast of living and enjoy a better quality of life and scale my business. I am considering the west coast in Victoria, BC or somewhere in Vancouver Island. I will be closer to my parents that reside in Seattle, WA. They also have plans to invest in real estate to help with their upcoming retirement and they are open to partner up with me.
I understand the Canadian to American dollar is at .7 to 1 right now however the ROI in the US seems better and I could also leverage my parents good credit to obtain financing.
I have around 5 years of industry experience as a (home owner, landlord and realtor) and would like to be hands on with the transactions, managing some of the rehabs and hands off with management.
Any ideas and recommendations would be greatly appreciated.
Thanks in advance.