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Updated 20 days ago on . Most recent reply
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Need advice on what to do with Up to 200K
Hello bigger pockets experts, I currently live in california but will list my house for sale within the next couple months i want to use between 100-200k for an investment but not sure how to go about it. My original plan was to find a 4 plex in california buy using fha loan, move out after the first year and generate cash flow and appreciation, but after looking at properties it became clear to me that’s not possible with todays market and interest rates. I now am looking all over the country, thinking of trying to find a duplex that’s has land where i can add more units in the future, or just a small apartment building, honestly I dont know at the moment just wanted some feedback from people who know more than me
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First piece of advice....don't come here and tell people you have $200k to invest.
Second piece of advice, understand what you want before you look. Once you know what you want, you then know how to look. If you're indecisive right now, get some conviction. Once you have conviction, work on your discipline. When you have both, it's very hard to quit and when you find it hard to quit-- it's likely you won't fail.
Third piece of advice, it's too general for me to say Ohio sucks. But go back to my first piece of advice and see where all the predators will circle. And do the math. House hacking is a farce for many reasons, also.
Fourth piece of advice...don't believe people's advice that have something to sell you without fully verifying & doing your diligence.
Really dig in on #2 before you do anything.