All Forum Posts by: Faraz M

What would you do with 220k in cash ?

I think I will net this from selling my house and I believe that the real estate in Cali will be bottoming soon.

What is the best way to invest this money ?? I am thinking of making cash offers on REO property b.c. it is sooo hard to get loans right now and I have no income for the last year and I am a student !

I own a 4bedroom house in chicago which has fallen about 25-26% from its peak in 2006. I am selling it now and taking that loss because I believe I can invest my money in other markets that have bottomed out and gain much more back.

I want to start looking into properties in Vegas & California b.c. I think they have bottomed out..I mean most have lost 50% or more that is NUTS ! How can I go about finding deals in california and vegas when I live in Chicago ?

I have heard I should buy from wholesalers ....
I have heard I should hire bird dogs....
I have heard I should go to auctions....
I have heard I should buy from lawyers who do loan mediation...
I have heard a lot of things BUT what is the best way to go about getting the best deal ????????????????????????? :idea:

So I am a student and my credit is 650 but my house is worth 250k and paid off ! How did I do it I sold my business at a young age.

Anyways I did not get approved for the heloc I wanted on my house since I have no income right now. Have been sitting on the money I made and invested some in the market..bad move..

I am now thinking of selling it for 225k and buying 2 buildings and renting them out. Found one 5 story that has 2700 positive cash flow for 150k...
Also, I am thinking of getting it with my uncle HIS CREDIT IS 800 !! Haha

The ONLY DILEMMA I have is how much would my house cost to build in addison il....wouldnt it cost about 250 or so..

Once upon a time I had paid my house off and now I am selling it in order to get the money out and buy a few rental properties, while this real estate market is down ! If my house does not sell what options do I have ??

My main focus is to buy REO/ForeClosued/Fixer Uppers type of houses and rent them for the next 4-5 years and when the real estate market recovers..I am thinking 2012-2015..I will sell the houses and cash out. Hopefully I will at least double up on my 250k ...Any opinions/advice ????

Renting it out ?

I was thinking of taking a loan out on it in order to get the equity out ...should I do that ?

Also, I believe my house will fall another 25-30k within the next year or so...BUT it has not fallen as much as most properties in the usa..I live in NW Suburbs by Chicago ! :D