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Updated about 11 years ago, 10/21/2013

User Stats

7
Posts
2
Votes
John Stover
  • Annapolis, MD
2
Votes |
7
Posts

What would you do with $100,000??

John Stover
  • Annapolis, MD
Posted

Thanks to everyone in advance for your responses.

Here is my situation:

-I have approximately $100,000 to invest in real estate and I want to get as much cash flow as possible.

-My credit score is about 650

-I currently own 5 houses. 2 houses are on the West side of Cleveland "war zones" cash flows about $500 total), 2 are in nice neighborhoods in Maryland (1 generating $500 cash flow, the other, $0) and 1 is in West Virginia $400 cash flow).

-I'm trying to figure out where to invest and how to buy. Maryland is a really good market but the house prices are HIGH in good areas. Cleveland has decent cash flow but in a "war zone". West Virginia is no good..

-Would you buy a few "war zone" houses, try to get a loan for something in Maryland that has a chance of appreciation, duplex somewhere?

Not sure what I should do. This is an extraordinary amount of money to me and I need to invest it wisely.

Please help!

Thanks,

John

MODERATOR: THIS IS NOT A REQUEST FOR OFFERS TO SELL PROPERTIES. ANY POST OFFERING PROPERTIES OR "HELP" WILL BE REMOVED WITHOUT NOTICE. "BECAUSE I HAVE PROPERTIES FOR SALE" IS NOT A GOOD REASON TO RECOMMEND A LOCATION OR INVESTMENT STRATEGY.

User Stats

2,733
Posts
2,483
Votes
Nicole A.
Pro Member
  • Rental Property Investor
  • Baltimore County Maryland and Tampa Florida
2,483
Votes |
2,733
Posts
Nicole A.
Pro Member
  • Rental Property Investor
  • Baltimore County Maryland and Tampa Florida
ModeratorReplied

If you like Maryland, you should check out Baltimore COUNTY. Places such as Dundalk and Middle River. You can get good rentals for an average of $100K there...probably less.

I'd use the $100K to pay the downpayment on several properties and mortgage the remaining amount.

Do your homework and use this calculator to be sure it'll cash flow. I always plug in asking price as worst case scenario.

http://www.goodmortgage.com/Calculators/Investment_Property.html

  • Nicole A.
  • User Stats

    111
    Posts
    28
    Votes
    Anthony Martin
    • Rental Property Investor
    • Knoxville, TN
    28
    Votes |
    111
    Posts
    Anthony Martin
    • Rental Property Investor
    • Knoxville, TN
    Replied

    Great resource, @Nicole Williamson. Thank you for sharing that, I just added that to my bookmarks list of utilities!

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    User Stats

    3
    Posts
    0
    Votes
    Leroy Joe Jr.
    • Wholesaler
    • Florence, SC
    0
    Votes |
    3
    Posts
    Leroy Joe Jr.
    • Wholesaler
    • Florence, SC
    Replied

    invest in a multi-unit start small and work your way up.