Posted by Skip Skool on September 17, 2004 at 10:00:01:
Hi John,
Thanks for replying. I’m not sure why I’m asking either, but I agree with you 100%. I did buy the first property while outside the US using a property manager and a RE agent. It’s cashflowing nicely, and I should be able to do a similar deal again, so I think that’s what I’ll do.
Thanks again.
Skip
putting money to best use - Posted by Skip Skool
Posted by Skip Skool on September 15, 2004 at 18:17:41:
I live outside the US. About six months ago I bought a property in the US with a conventional load and rented it out using a property manager. It’s cashflowing nicely. It required about $15k total (10% downpayment plus closing costs). I’m planning to move back to the States in one or two more years to try RE investing full time.
My question is this: I’ve saved another $15k and was wondering whether do a similar deal again or wait until I move back to the Sates and use the money in my full-time investing career.
If I buy another property now, it will generate more cashflow, which I’ll save. Also, if I buy low enough, I could sell for a profit later if I needed to.
Re: putting money to best use - Posted by John
Posted by John on September 17, 2004 at 09:05:37:
Skip,
I am not sure why you are asking.
If you can find deals that work for you and cash flow nicely I would
expect that will work out better then sitting on the money. Are you
trying to say that you need the cash for something else or have another
reason for want to stay liquid?
It was not clear from the first purchase if you recognize that buying
when you are outside the US is more difficult re: financing and
searching for a property. Assuming you were outside before and
during the time you purchased the other one then that is covered.
If you were to wait 1-2 years and then move to the US, would saving up
the cash rather then buying now help you move up market for your
investing? Otherwise, all things being equal, buy sooner rather then
later.
John