Good afternoon Andrew,
I'm actively involved in real estate investments here in Jacksonville and would love to connect with you. I have some questions regarding your long-term goals in this field.
Firstly, if you're planning on buying your forever home, I would pay cash but if it's going to be anything else, keep the 200. Something to note, if you pay cash for the house and later require access to those funds, utilizing a HELOC (Home Equity Line of Credit) allows you to retrieve that money.
Secondly, the right approach for investing depends on several factors. You'll need to determine the monthly cash flow you aim to achieve from rental properties, along with your desired timeline for getting started and the initial investment you're comfortable making.
While flipping properties can yield quick returns, it's worth noting that the current market conditions may pose challenges in this area. Alternatively, you might consider the strategy of acquiring distressed off-market deals, renovating them, renting them out, refinancing to pull out cash, and repeating this process.
Another aspect to consider is whether you prefer to handle the work yourself or delegate it to professionals. Of course, the quickest route, albeit requiring a substantial upfront investment, is to purchase a rental property and start earning rental income.
There is a lot to break down, I'd like to help further if you want to reach out.
