I am in the position to use 100k cash for real estate investments. I have excellent credit, good job and a willingness to go for it. Any suggestions of where and what I should be doing. Knowledge is power and this may sound a bit naive, but atleast I`m willing to "open up the floor" so to say. Thx. Oh, net worth 400k. 28yrs old
Open to interpretation
- Thread starter longhaul
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- Oct 10, 2007
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It seems that you are in a very good position – good for you.
There are many things that you can do with the amount that is available. There are many things that must be considered. Don’t rush and take your time.
To maximize on your investments and to be sure that you are doing “the right thing” I would strongly suggest joining REIN.
I am a new member myself and the quality of contacts and ideas I get out of REIN are unbelievable. After all this may prove the best investment I have ever done.
Todor
There are many things that you can do with the amount that is available. There are many things that must be considered. Don’t rush and take your time.
To maximize on your investments and to be sure that you are doing “the right thing” I would strongly suggest joining REIN.
I am a new member myself and the quality of contacts and ideas I get out of REIN are unbelievable. After all this may prove the best investment I have ever done.
Todor
- Joined
- Aug 31, 2007
- Messages
- 323
You do have a lot of options available. Joining REIN is a great suggestion, at a minimum read "Real Estate Investing in Canada" by Don R. Campbell. As pointed out in the book and throughout this forum it is important that you choose a target city and a type of property (multi family, townhouse, condo apartment….) and then start your research.
A power team will be very important in the execution of your plan, including how to best to use the $100,000 cash. You may want to use it to purchase 3 single family properties or 1 larger multi-family.
If you still have a mortgage on your principle residence you should consider paying it down with this cash and drawing the $100,000 back on an LOC. The book "Is your Mortgage Tax Deductible" by Fraser Smith explains this concept well.
You have come to the right place; there are a lot of great suggestions on this forum.
A power team will be very important in the execution of your plan, including how to best to use the $100,000 cash. You may want to use it to purchase 3 single family properties or 1 larger multi-family.
If you still have a mortgage on your principle residence you should consider paying it down with this cash and drawing the $100,000 back on an LOC. The book "Is your Mortgage Tax Deductible" by Fraser Smith explains this concept well.
You have come to the right place; there are a lot of great suggestions on this forum.
- Joined
- Jan 9, 2008
- Messages
- 196
QUOTE (longhaul @ Mar 4 2008, 04:35 AM) I am in the position to use 100k cash for real estate investments. I have excellent credit, good job and a willingness to go for it. Any suggestions of where and what I should be doing. Knowledge is power and this may sound a bit naive, but atleast I`m willing to "open up the floor" so to say. Thx. Oh, net worth 400k. 28yrs old
You are doing great for someone 28! It seems lacking a bit in education and networking may be where you want to concentrate on. I would say to pick which type of real estate investment you feel comfortable with and head in that direction. I have done several properties solo and i am at the point where i want to work with others on future projects. I am in the middle of a lake lot cabin flip right now with 2 others. 4 other cabins to build this summer which i will be doing some hands on work. There are some good deals in choice areas of Canada and plenty of super deals in the USA! I am targeting some destination locations.
Dean
[email protected]
You are doing great for someone 28! It seems lacking a bit in education and networking may be where you want to concentrate on. I would say to pick which type of real estate investment you feel comfortable with and head in that direction. I have done several properties solo and i am at the point where i want to work with others on future projects. I am in the middle of a lake lot cabin flip right now with 2 others. 4 other cabins to build this summer which i will be doing some hands on work. There are some good deals in choice areas of Canada and plenty of super deals in the USA! I am targeting some destination locations.
Dean
[email protected]
Thanks Dean. You are correct in that I am lacking some of the skills of the total package, but I am working on them at present. I have read your profile and it is people like you who inspire me to open up a business and don`t just stop there, but continue to evolve and aquire! I will be living in Thunder Bay, On, and will do a bit of investing there. I would also like to look to Saskatchewan and possibly the Phoenix region. I do have contacts in the business, it`s just I feel that by opening up the floor the ideas will flow at me...hopefully. I am lucky to be where I am right now and am looking at furthering my education and then opening up a business. Thanks to all who have some input on my position in life, as there are many stories of struggle and success out there>>>lets hear them.
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Join REIN before making any hasty investments. It`s a valuable and cheap education. You won`t regret it! It will give you a direction so you can move forward confidently.
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- Dec 9, 2007
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- 6
QUOTE (longhaul @ Mar 4 2008, 02:33 PM) Thanks Dean. You are correct in that I am lacking some of the skills of the total package, but I am working on them at present. I have read your profile and it is people like you who inspire me to open up a business and don`t just stop there, but continue to evolve and aquire! I will be living in Thunder Bay, On, and will do a bit of investing there. I would also like to look to Saskatchewan and possibly the Phoenix region. I do have contacts in the business, it`s just I feel that by opening up the floor the ideas will flow at me...hopefully. I am lucky to be where I am right now and am looking at furthering my education and then opening up a business. Thanks to all who have some input on my position in life, as there are many stories of struggle and success out there>>>lets hear them.
If you need a contact in Saskatchewan, let me know and we can set up a time to talk on the phone. I am away for the remainder of this week, not sure if I`ll have much access to computer. Send me a message and when I return we can set something up.
Tracey
If you need a contact in Saskatchewan, let me know and we can set up a time to talk on the phone. I am away for the remainder of this week, not sure if I`ll have much access to computer. Send me a message and when I return we can set something up.
Tracey