All Forum Posts by: Casey Roman

Is there a town near within a hour that's less desirable than your current area? Maybe a town where land is cheaper? Undeveloped yet. I'm in a very expensive state as well. But there are still parts that are less expensive than others. If I had 100k cash I would look for undervalued commercial zoned land or subdiviable residential lots.

Last year they started digging ground on a large 55+ older community in my area. I saw a 10 acre boarded up ranch for sale directly across the street from the main entrance, commercial zoned they were for sale by owner and only asking 300k it was an estate sale. I tried everything in powers to get that property but turns out someone saw the same potential as me and just had way more cash than I. I'm sure that whoever bought it will sell it for 600-700k or build a small shopping center. Cash is king.

point is somewhere probably not too far either, your 100k can go alot further than you think.

Interesting! Unfortunately we fall off the grid pretty fast here. I'm in Wilmington, NC so any land even REMOTELY near the water is a fortune. Once you cross the bridge you get out of dodge VERY quick. About an hour away land is much cheaper but there is no industry except agriculture until you hit 2.5 hours away and get to Raleigh. That said, your suggestion has clued me in to looking at whats around our massive "in house" communities. We have enormous development projects targeted at Northern retirees that have their own groceries, pharmacies, restaurants, etc. I'm not sure I can afford the surrounding land but I didn't think to consider it until you mentioned it. Thanks!

0 Votes

Originally posted by @Joseph Cacciapaglia:

Originally posted by @Casey Roman:

Originally posted by @Joseph Cacciapaglia:

You could be a private lender, yields on private loans have jumped up lately. You could invest with a partner or in a syndication. You could invest out of state. Most of my clients are from a more expensive market. If you have cash, you can certainly get into the game. You might just need to get a little more creative.

This is actually what interests me the most. I'll be quite blunt...I am NO landlord. I have been in the past and I have also done AirBnb rentals and I find that my zero patience, zero brain-to-mouth editing function has severed me little in those realms. Joseph do you think I could get started in this with just $100k? Are there any education sources you recommend? I imagine the legal aspects are enormous and I'd like to start learning asap.

Which "this" are you referring to, the private lending, syndications, or partnering? $100K should be plenty for any of those strategies. If you're looking for the most passive method, then I'd look into investing in others syndications. There's a book in the BP bookstore called the Hands Off Investor. I haven't read it, but have read a lot of posts and articles from the author, and he seems pretty sharp. Or, just find a someone you like and trust that is investing, and offer to partner with them on deals or lend them money. In either case, consult a real estate attorney to write up the agreement. That will require more upfront negotiating on your part, but could potentially be more lucrative.

Apologies, the "this" as in regards to private lending.

0 Votes

Originally posted by @Joseph Cacciapaglia:

2 Votes

My go-to idea was seller financing but the investors I know here are not overly optimistic about the idea because of what can happen if the seller decides not to sell after all or any judgements are placed on the property. We have MANY retirees here though...

2 Votes

I have been trying for years to reinvest $100,000 into some form of real estate and have gotten absolutely nowhere. Because I own my own business and deduct HEAVILY off it, I qualify for zero mortgages, even with perfect credit. Moreover, Coronavirus has successfully killed my shot at non-traditional loans.

I live in a highly desirable coastal area. There is no such thing as buying the $60k house here, doing repairs and re-listing at $250k. Even complete dumps are $150k so my $100k goes nowhere. Land is a fortune.

Without a mortgage I can't buy a rental property with just $100k. I've tried wholesaling but given the desirability of this area, most homeowners think they have oil under their property and can sell for far more than I can offer them.

It seems like my only option is to buy a double wide or invest in REITs - neither of which overly thrill me.

The biggest need here is affordable housing.

Its easy to feel like you've run out of options after slamming your head into the wall so I wanted to check in here. Are there other avenues of real estate investing I'm overlooking? Other financing I've ignored? Or...do the cards just fall sometimes where it's just not favorable under your personal circumstances?

21 Votes

All Forum Posts by: Casey Roman

Casey Roman has started 1 posts and replied 26 times.

Post: My Cash...is Worthless.

Post: My Cash...is Worthless.

Post: My Cash...is Worthless.

Post: My Cash...is Worthless.

Post: My Cash...is Worthless.

Post: My Cash...is Worthless.