Re: What should I do with my money? - Posted by Briton (IN)
Posted by Briton (IN) on April 09, 2006 at 10:41:46:
Consider if you just did Lonnie deals. You would spend a few K on your first few homes and just have 390K sitting there doing nothing. Not only that but you have to deal with other park managers desires booo
If I had 400K I would find a few nice small parks, put nice down payments on them. Then I would take the other couple hundred grand and start doing lonnie deals on your OWN property with less headaches.
I would think you you could do all this and still have money in the bank at all times. Not to mention the positive cashflow you should be able to achive quickly.
O then I would quit my JOB.
But the truth is only you know what your ready for. But with 400K the sky is the limit. You may be better off taking Ryans advice above and get your feet wet doing a few Lonnie Deals to see if you like it. If your not sure where to take this, do that.
The only thing stoping you from turning that 400K into a million is yourself and a few years. You just need to figure out how rich you want to be and what your willing to do to achieve that goal.
Good luck bud, Briton (IN)