If someone handed you 100k
OK. Ive seen similar questions and heard Brandon and josh ask on the podcasts. What would ya do? Remember, your living paycheck to paycheck, someone hands you 100k cash, do ya spend 100k on a down payment for a multifamily (go for broke) or do ya buy a few singles flip a couple keep a couple? better yet, you have 0 income.. someone handed you the 100k?
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#5 All Forums Contributor
- Plymouth, MI
@Kalyb Coats Now what fun would there be in that? LOL.
1 - Take your cash and buy/rehab property where your cost is around 75% AV
2 - After seasoning, refi all your cash back out
3 - Reinvest in next deal
4 - Rinse and repeat steps 1 - 3
5 - Retire when you decide to stop.
If you look closely, you never actually spend any money...you just use the same $100k (or whatever the starting amount is) over, and over again. When you refi the last house...you get it back.