All Forum Posts by: Andrew Hooyman
Andrew Hooyman has started 5 posts and replied 15 times.
Post: If you had $250K how would you invest it to be financially free
- Green Bay, WI
- Posts 15
- Votes 3
Originally posted by @Milad Keshavarz:
How about buying a multi-family property, rehabbing it and then renting it to generate cash flow? By purchasing cash you buy below market, and by rehabbing the property yourself, you end up with nice equity. You can then refi and get cash out and repeat the process. This way, you have equity in each and every property and you generate a nice cash flow.
So when you say multi family I am assuming you mean vacant duplexes or fourplexes? So assuming I pay cash for a multi-family for $125,000 and put $25,000 in rehab into it making the property then be at an assessed value of $200,000. Would you then finance it at the new $200,000 value putting 20% down ($40,000) pocket the rest and rent it out assuming it will cash flow well, say $4,000 a year giving you a 10% coc return? Or would you just finance it at what you have in it the $150,000? If the $150,000 would traditional lenders still want you to put 20% down?
Post: If you had $250K how would you invest it to be financially free
- Green Bay, WI
- Posts 15
- Votes 3
Originally posted by @Milad Keshavarz:
@Andrew Hooyman
Is there an aspect of real estate that you like the most? Also, what are your long-term plans? Do you like to have steady income now? or invest in a way that would see capital growth? Do you prefer to work actively in real estate or passively? I think the answers to those questions will give you a better picture as to what's the best strategy to pursue.
Good luck,
Milad
I have struggled a bit with aspect of real estate I like most but ultimately for me right now through at least the next 5 years it would simply be the area in real estate which gives me the best cash flow. Long term not a lot different I would want cash flowing properties that have a realistic chance of 2% appreciation a year. I just sold a previous business so aside from what I made from that the income we have is from my wife who is an interior designer at a flooring retailer. I would work actively in real estate short term and then semi passively in say two plus years out.
Post: If you had $250K how would you invest it to be financially free
- Green Bay, WI
- Posts 15
- Votes 3
I am starting to build a business plan for my real estate investment business. As I am doing this I am curious as to what others would do if they were starting out and had a little money? Would your strategy change if you had $500,000 to invest instead of $250,000?
Post: New Investor From Wisconsin
- Green Bay, WI
- Posts 15
- Votes 3
Great advice. Thanks Shawn.
Post: New Investor From Wisconsin
- Green Bay, WI
- Posts 15
- Votes 3
Hello,
This site seems like a great resource so I am excited to give it a try. I am a consumer products entrepreneur and fairly recently sold my business. Took me a bit of time but I have come to the realization that for me real estate is the best place to put a good portion of my money earned from my last business. I am really excited to build a real estate investment business and see many parallels in it from my last business.
I am mainly looking to buy and hold cash flowing properties. I am also not opposed to looking for other short term ways to make money in real estate this year that will replace the paycheck I once gave myself from my previous business.
Hope to learn a lot and make some great connections.
Thanks,
Andrew