Looking to expand/diversify family SFR portfolio
My parents have owned 3 single family rentals for the past 5 years or so. The "returns" of their portfolio are OK and are probably a longer-term play to see any meaningful wealth generation. My advice to them is to sell and consolidate the equity into a single property (multi or even commercial, which I would manage). But right now isn't a good time, so they're holding.
They currently have about $250K cash to put towards RE. I'd rather they not buy another SFR due to scalability and instead try to get into tri/fourplexes (in the PNW area where the typical SFR goes for around $500-700K - for reference).
Anyone have any advice on what to do with the cash they're just sitting on? Any opportunities to target? What would you do with $250k cash in this market?
Bump
Right now like you said seems there not alot of RE opportunities so best would be to put it in the stock market. Don't just buy real estate to buy.
Maybe look at Ten-X or foreclosure auctions for deals if there are any, seems there 20 new properties a day on there.
Assumenda temporibus officia qui tenetur nobis velit. Id et necessitatibus suscipit ea at consectetur. Aut eaque error commodi sed qui enim culpa consequatur. Aut pariatur sequi impedit accusantium accusantium reiciendis magni delectus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...