All Forum Posts by: Paul Jamgotch

Hi All,

I've been lurking here for a while. Finally a post: My company has been bought out and I am facing a lay-off from a narrow field with no competitor to move to in my area. I'd like to stick it out in West Michigan for at least four more years so teens can finish school here.

The question I have is, is it realistic to take $100K cash (life savings except smallish 401k) and turn it into at least $3500/month with a multi-unit? Currently we have excellent credit but without the job we probably are not bankable. I was thinking of buy & manage instead of trying to flip. Maybe a 12-16 unit at $26k/unit. We currently are taking payments on two LCs that will be over in 24 and 48 months (the furthest out has a small mortgage). Any advice.ideas would be appreciated.

Hi All.

My name is Paul and I am a newb here. We actually live about 15 miles north of the furniture city. Looking forward to being a lurker on the forums.

My goal: Put money to work in Grand Rapids area on short-term projects. Not interested in more income producing property.

Thanks and all the best.