A friend has 15k to spend... What should i do?

[Benjamin Blackburn]

Hello everyone.  One of my best friends is wanting to do something smart with his money but has no time for anything since he is a full-time student at LSU and has a demanding job.  He lives in Baton Rouge and I'm here in Houston.  He literally asks me every other day "What are we gonna do man?".  Honestly, I really don't know what all options are out there.  He is willing to put up about 15k-16k and I could probably come up with about 4 or 5k.  Since he is in Louisiana and I'm here in Houston of course I would be the one doing everything pretty much. 

Any ideas on what we could do?

The only real estate experience I have is purchasing three vacant lots from an auction and selling them to three other individuals.  I'm currently in the beginning stages of wholesaling, searching for that first deal.

I just don't want to miss the opportunity he has put out there?  Any insight would be great.

Thank you all.

[Carolyn Morales]

Your friend will have more risk than you do..Do you both have any back up income to purchase like a student duplex near a college from an out of state or owner finance owner/ motivated  seller? I say back up income so you may add value and resell, or rent?  Have you thought through each other's expectations on cash flow, time expected to work it and get a return? 

I did have a very easy time dividing 5 perfect acres into 5-1 acre lots and selling them all by owner financing, and took the profit and bought commercial vacant land that I later sold for much more. But your friend may not want to wait on a return.  Land has been alot less work and headache than renovating and landlording but Land has to be in the right place and the right kind to divide. My lots were in an up and coming rural town with its first new  grocery store. It had alot of dirt roads that are paved now.. It sold very fast. People love the simplicity of owner financing.