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Air Presto Ultra Flyknit Acronym

Air Presto Ultra Flyknit Acronym

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).

There more to that quote, however the point that I want to add is that have a little money to invest can be a dangerous thing. My vote would be to hold off using your retirement at this moment and set aside time and some money for your training (maybe $2 5k) and learn the business that you intend to be in. After all, it is a business.

Go to real estate school. Get a real estate license. Sell real estate for commission. You did not mention how much your income was at your old job, the one that is laying you off.

Are you thinking net $3500 a month? That would be a 42% return on you $100K. That is not realistic. Can it be done, yes, but probably not on your first deal with no experience.

That puts you at around $140K already, and then there is fixup to consider. Given that the property is pretty cheap for the amount of rent, I imagine there a decent amount, but you have do a lot of due diligence and figure out a good estimate of what it would Nike Presto Blue Kids

take.

Put as much effort and learning into selling real estate as you did in your old job. It won be long until you are earning the same income as before. You are you own boss,. You can not be laid off ever. You don have to ask anyone what time to show up or how many hours to work. You find bargains that your fellow BPers only dream of finding.

Air Presto Ultra Flyknit Acronym

So Jon is human after all. I was wondering there for a while ;)

Sorry to be such a downer. I just figure that pointing out the shortcoming of the plan is going to be more useful to you at this point than "rah rah anything is possible".

Forced early Retirement

In five years, you will still have $100,000 in the bank. You will have a better career than your old one. You will have lots of real estate knowledge. You will have income. Life is always more pleasent with income. Take this opportunity to statrt this new career.

And then on top of that you need reserves for capital expenses, maintenance, vacancies and so on. You never want to be in a reactive position when there are Nike Air Presto Kids

I 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 like to stick it out in West Michigan for at least four more years so teens can finish school here.

You might even considering getting a part time job working with someone who has rentals assisting them during acquisition, renovation, management and rent collection. All the time, keeping your money safely away from you, until you fully believe you could do this safely with other people money and be accountable to them. You are about to be laid off. You have $100,000 in the bank. Here is a plan that is hard to beat.

$25K/yr. That based on an amortizing 20 yr loan at 5%. I may be a little off on that since I don have experience with commercial. If the owner does pay utilities, you got to estimate closer to 55 60% for expenses, which brings the cash flow down to more like $16K in the 60% case.

Edited Jun 23 2013, 06:47 by Moderator: Ad link removed

Air Presto Ultra Flyknit Acronym

Air Presto Ultra Flyknit Acronym

Air Presto Ultra Flyknit Acronym

Air Presto Ultra Flyknit Acronym

Originally posted by Paul Jamgotch: is it realistic to take $100K cash (life savings except smallish 401k) and turn it into at least $3500/month with a multi unit? .

things coming up that affect your property rentability and you struggling to come up with the money, and desperately trying to patch things to tide you over.

Air Presto Ultra Flyknit Acronym

Can you start with $100k and by hard work, doing deals, flipping properties, and building your portfollio over time wind up there? Absolutely yes and perhaps much better than that. Good luck NedTo quote my friend Mike Cantu, "If you will do what other won for five years, you can do what others can for the rest of your life."

At 5+ units you looking at a commercial loan. It would be difficult to get a loan of that size w/o some experience to show successfully operating other properties. The other difficulty would be that Air Presto Ultra Flyknit Acronym you most likely need to put about 30% down. There are scenarios where the seller can finance a portion, say 10 or even 20%, but again the problem is your (main) lender agreeing to this without seeing that you are in a solid enough position to make this work.

Then there would be closing and other acquisition costs (for ex. the inspection would cost a lot more for a 15 unit building than a SFH).

Air Presto Ultra Flyknit Acronym

The property has some possibilities, but the problem I see is the amount of money it would take to get into it.

When you find one of those bargains that you can help but find that is too good to give to a stranger, buy it.

If a person could get over all those humps, then it looks like (at leased based on limited info) the property would cash flow. One big factor would be whether the tenants pay all utilities. At 50% expenses, the cash flow would be something like Nike Air Presto Ultra Flyknit Id

Air Presto Ultra Flyknit Acronym

Whatever your old income was, set that as your first year goal to earn in commissions selling real estate. Find a Realtor that is already making that much and ask him what you would have to do to earn that much money selling real estate.

Air Presto Ultra Flyknit Acronym

Air Presto Ultra Flyknit Acronym

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