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Updated about 5 years ago on . Most recent reply

NEW INVESTOR NEED ADVISE ON HOW TO INVEST $100-$120K
So we have a house with equity of about $750K, mortgage is paid off. I am closing a business and am now collecting funds from it. I have about $100-$120K to invest soon and about another $80-$100K to invest beginning of 2021.
I have been debating 529 plans, but I thought it would be smarter to invest in real estate. So I was looking into Lakeland Fl. Now I can buy one property for $120K and collect income without paying a mortgage or I could buy 5 properties and put 20% down and in the long run make a lot more money. I have a short goal of 4 years where I may want to sell the property/properties and help my kids with college, or I may not have to.
So I ran the #s, by investing in the 5 properties after 4 years I would have made about $100K more than if I would have bought 1 house in cash. Accounting for a 2.7% house market appreciation and 4% interest rates.
I understand that buying all 5 houses with mortgages is riskier obviously, but what advise would you all give me.
Thank you!
Most Popular Reply
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Rosa, I personally like the idea of getting 5 single families with good cash flow, then pay off house #1 and buy #6. Keep snowballing to pay of the first ones and purchasing more. Multifamilies are hard to find here in lakeland and are typically overpriced when you do see them for sale. I'm a broker/property manager/investor here in lakeland. Reach out if you'd like to see some good rentals in this area.