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Updated over 3 years ago,
Where to put my 25-30k
Hi everyone!
I'm a relatively new investor, (I've done 1 flip, purchased 1 long term investment property, and listened to 1,000 BP podcasts!) and I have 25-30k that I'd love to invest by the end of the year. I do plan on getting another long term investment property soon, but I just purchased a home so I can't cash-out refinance for 6 months. So I'm wondering what my best option would be for this extra cash. Some suggestions I've received so far are:
1. loan it to someone who needs it for a flip
2. Buy a single mobile home
3. Invest it into a syndication fund.
Alternatively I could wait until I can purchase another home next year and use it towards that, but ideally I'd like to invest it this year for tax purposes. Would love to hear some thoughts! I live in the East Valley of the Phoenix market if that helps!
Thanks!