What Would You Do If You Had X Amnt Of $?
I appreciate everyone's time in advance.
I have been doing rehabs for a couple about 1.5 years and I am getting tired of having to "chase" the next deal. I have been reading to educate myself on multi family and other income producing property to produce passive income to at least cover my living expenses. That will translate into some freedom time to spend with my family knowing that if I don't have a rehab going, at least I am not diving into savings to pay bills.
I have access to $125K in a LOC and another 120K that I am blessed to have that my dad left me when he passed away. My credit score is over 700. The only downside here is that I am self employed and my income is not verifiable by an employer.
Based on what I have access to (this is probably a small amnt. to a lot of you in the commercail world), would you invest in as many SFH you could creatively buy or shoot for a multi family or two? I am not looking to manage these properties myself.
My rehabs should continue to fund themselves via rollover of profits and HML.
In His service,
Rodney
I would recommend multi-family.
Sometimes a great deal will just fall in your lap. Just get out there looking, and some irrestible deal will present itself. Take it , and go from there.
Good Luck!