Re: What would you do with $50,000? - Posted by John B. Corey Jr.
Posted by John B. Corey Jr. on August 12, 2005 at 12:27:30:
The plan is generally sound.
I would expect that you make your money over a short about of time so the market for condos vs. SFR is not much of a factor (many times condos are considered less desirable then a SFR).
Break out some of the funds for marketing. Create some budgets so you can track the performance of the marketing and refine things as you go along to see what works best.
Always have a bit of a contingency fund as buying for cash still has some minor holding costs.
You should also get the word out to local investors as they may have a deal they can flip to you which will work given your model.
Chelsea Private Equity LLC
PS. I will send you an email about a marketing idea I use in my local market that might apply to your market.