I know alot of you here are financially set, well I’m tryin to get there myself. I kow alot of people ( like my freind ) who refinanced thier house & got like $120,000 & the first thing they did was go buy a brand new SUV with rims & a stereo, go shopping & buy clothes, make a littl bit of home improvements. All that is nice but damn that. Well I had $260,000 in equity & I recently refinanced & pulled out $140,000. First thing I did was drive out to a place out here in Cali ( Lancaster ) where you can still get homes for decent prices ( atleast in the Cali perspective ) & I put bids in on 4 homes & Im getting all 4 with 100% financing so basically all I have to do is pay closing cost. Then I know ima have to cover 5 morgage payments for a couple months till I get renters for them & 3 out of the four just need interior paint. Now heres my question, whens its all said & done Ima probally be left with $90,000 after everything has been paid for & I own all 4 homes with renters covering my mortgage payment. What should be my next move? Whats a real good investment to hop in with a nice lump sum of money?
Buy more real estate of course.
If you really want to invest the 90K I would invest in something other than real estate as a hedge.
Gold mutuals are a good way to hedge your investments.