I am in a position now where I am looking for another investment. I have three things that are on the plate now. I am not sure which way I want to go yet. I am always looking for new things and these three have popped up recently.
Land outside of Raleigh: There is a track of land for sale 30 minutes east of Raleigh. 22 acres for an asking price of 6 an acre. There is not much road frontage, actually none just and easement. It is probably not developable. It would be more of an investment long term. I might be able to get around 20 g’s in timber right off the bat, if I clear cut it. If I do that though the land would be pretty useless for 10 years. I see it being held onto to sell straight up later or I could spec a house later. I feel this is a sound investment with a low return. ~$132,000
Houses in Durham: You can generally get houses in Durham between 40 and 50 g’s. You can then try to put 5-10 into them and sell them for 60-65 g’s. Or you can pull out the equity around that and rent them out. This investment would be a bit more risky as the houses may not move quickly and they are in rough sections of town. But it can be very quick money. So high risk, high return, quickly, sink or swim type deals… ~$90,000
House Downtown Raleigh: This would be an investment in a house that would be rented out. The long term goal would be that someone would come along in 5-10 years wanting the land and surrounding land for developing a hotel or what not. The rent would need to cover the mortgage, but might be hard to get. This is a long term risk with huge potential, but not guaranteed. ~$160,000
In general if you can rent a house and make a little a month everything sounds good. There would have to be a lot left over each month on the houses I am looking at because there will probably be a lot of things that break throughout the life of the homes. I would be slowly gaining equity and could pull that out as needed or borrow against it. I could throw cash on them but would have my money held up. There are a lot of options. These are three that are standing out right now. Hopefully something better comes along. If nothing comes up, no need to sit around, there is always money laying around waiting for someone to pick it up. The Ferrari and Lambo’s are not going to buy themselves.
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