Just sold my stake in a business and made approximately $100k. Now I need to figure out what to do with it.
Wut do?
Was thinking about picking up a 2-4 unit building for rental. Would cost about 120k and could rent each unit out for about 600 a month. I have a mortgage, but it is at 3%, so paying it off makes no sense. Market looks pretty volatile. Anything else I should consider?
Buy ETH and turn that money into MUCH more.
>>1132933
>so paying it off makes no sense
This is the famous statement made by most bankrupt property investors.
>>1132933
Pay off your mortgage, make sure you have six months worth of emergency expenses, and then play with the rest. Recognize that that's all that you are doing: playing with it like a game.
>>1132933
Dump it all into ethereum TODAY.
Sell on March 14. You'll have doubled your money.
>>1132936
Kek
>>1132959
Where can you even get 100K worth of BTC to buy ethereum with?
Thinking of doing something similar myself but all the sellers seem to have ridiculously low limits.
>>1132973
Lel
>>1132973
My mortgage is at 3%. I'll likely never get money that cheap again. Wouldn't it make sense to buy a rental property and pay that mortgage (which would be at a higher rate than my home) first? I still have a large emergency fund (about 90k), so not too many worries about defaulting.
>>1132933
is the 120k for a 2 or a 4 unit building? for a 2 unit building, at 600/month per unit it's not that great, but for a 4 you'd be doing pretty well.
>>1133039
Depends. There's numerous 2 unit and 4 unit buildings in that price range. Have to check them out.
>>1132933
too much risk concentration. buy some houses up on credit then consolidate them using whatever title transfer it is into an apartment. (though, your risk will be concentrated, yet again. just, this time, the money is worth it.) rinse and repeat
why go through all that to make a mediocre return? Put it all in ETH and watch it at least double within the year
>>1132933
Sound like a good plan, desu.
>>1133071
If I can swing a 2 unit for $120k, and rent each out for 500, and assume insurance/repairs/tax totaling $5000 a year, my annual return would be 5.6%
If I got a 4 unit for 130k and rented each for 500, assuming the same costs, my return would be 14.6%
Those returns don't account for property value appreciation either.
So I'd be looking at a return of 5.6 to 14.6% using conservative estimates (7-19k). With the market like it is, wouldn't this be a decent investment?
$120k isn't enough money to execute your idea. Do you have any experience at all with property management/development? Especially if you have no income at the moment, going all in on this would be a poor decision. Owning and leasing property is fucking hard and NEVER
as profitable as it looks on paper.
Your best bet is to buy some business garage bays/flex space and lease it out to businesses.
>>1133194
>$120k isn't enough money to execute your idea
How so? I'd have about 70k cash on hand in case of any unforseen expenses.
Say I use the following numbers:
$140k purchase price
$100k down payment
40k mortgage @3% for 30 years
4 units at 500 each
$2k insurance cost
$2k Property Tax
$4k repairs
I'd still be looking at about a $14k profit annually or a return of 6.7% plus any property value appreciation as well as the tax write offs.
What am I not accounting for?
In what desolate hellhole can you acquire a 4 unit building for USD$130k
>>1132933
Invest $5k in etherum.
>>1133293
St. Louis
If you can find a decent 4 unit building for $130k, then definitely do it. STAY AWAY FROM BUILDINGS THAT ONLY HAVE 1 bed/1 bath or studios. Those are hard to get tenants for. I recently just purchased a 4 unit building in Las Vegas for $180k. Rent them out for $550/month. First couple months were kind of a loss because I had some repairs and turnovers but now we got some good tenants and it's one of the best decisions I have made in my life.
>>1133367
Hey I'm moving there! Any tips about living, I'm coming from south Texas.
>>1133320
This is probably the only authentic relationship amongst newly baked billionaires though.
>>1133691
Just look up the neighborhoods first. Some can be pretty dicey. Other than that, it is a great city. It is one of my favorite cities.
>>1133821
Where do I find a neighborhood demographic chart?
>>1133821
Pretty much this.
>>1133231
are you sure about that purchase/rent ratio?
that sounds way off to me, how many squaremeters would you get for 140k? have you accounted the heating/water etc?
>>1132941
kek, agreed
>>1133231
have you even checked local rent prices?
>>1132933
i would go get some commercial (+5 units) and put that 100k down as down payment for a $350-400k. You are banking that there will be renters not that the property will increase in value, with this in mind go for a shared appreciation mortgage for the lower interest rate. Also sell your house. You want 5+ also because vacancy could possibly put you out of business but not on a 5 unit
