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Updated almost 8 years ago,
What would you do with half a million?
This question is to the veteran, the person who has been here for a while. Made good decision, made bad ones and learned throughout the journey.
I may be selling a lot that I own free and clear. It's zoned for commercial industrial, and I had hopes of developing something on it. The problem is what I want to build will cost 500K.
So I put it on the market and I am afraid that it's going to sell soon.
I am new to this and would like some ideas or advice on what I can use this money on to invest and obviously make the most out of it.
I also own a duplex free and clear and have about 200K equity if needed.
What I don't want is to sell this land and not have a good plan for it. I want to make the most of it and have short and long term investments.
I have a team that can build a house from the ground up in 90 days.
Is building SFR the best bang for your buck? Multi family units? Mixed units? Commercial strips?
Would love some input BP
THANKS IN ADVANCE!