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Questions about building a portfolio? Help? 190k to Use!
Hello, So I am new to BP and could really use some help with making a decision on the best way to grown my portfolio. I have about 190k to use an live in the tampa bay area (General Area I would like to invest)
I would like to invest in a few different properties somewhere around 60k or less. That generates atleast $800 in income per month. I would also be open to spending more fore something that holds more families like quad-plexes / larger buildings.
My question is what is the best use of my money. I will propose a few different plans and would love some elaboration on them of peoples opinion/experiences etc.
Question
What is the best way to use that 190k to build a cashflow rental property income?
Buy a few props outright in cash?
Buy using seller financing
Buy using hard money lending
Look to get mortgages from big banks and then use cash for down payment on multiple properties?
All help and advice would be greatly appreciated!