Put $10 Million to Work Within 200 Miles of NYC
If someone gave you $10 million in equity to put to work over the next few years, how would you spend it? Also, assume this investor only wants deals that are somewhat close to NYC.
If someone gave you $10 million in equity to put to work over the next few years, how would you spend it? Also, assume this investor only wants deals that are somewhat close to NYC.
Career Resources
I would spend the $10 million to train my Squirtel until it becomes a Blastoise. OR, just straight up buy a Charizard and skip the Charmander stage.
I'd give it all to SAC Capital
Strippers And Cocaine = Capital
I'd put a Bojangles in that bitch
What returns is he looking for? Does he have liquidity needs or can he sit and live off the NOI? Are you skilled with a certain product type? All important questions that will make everyone's answer unique.
Never done a RE deal in my life, so don't really have a specialty. He has no liquidity needs but due to the fact that I am an unproven investor, I would like to buy something that has a positive cash flow from month 1. Also, he wants me to manage the properties myself which I'm not too excited about. I was thinking of buying a bunch of single family homes used for college housing in upstate NY then spin it off as a portfolio 5 years later at a lower cap rate. Tough to manage from a distance but the yield on some of these student housing plays upstate is crazy. Plus my investor is able to secure favorable financing terms via a corporate entity so that gives me a major leg up on the competition in these areas.
Don't take this the wrong way because it isn't personal, but this guy would be 10 million times better off just putting that money into an index fund or something rather than giving it to you.
You're not keen on self-managing, so you figure you might as well go for what might be the most management-intensive asset possible at a distance from where you live?
I love this sub-forum, we get the best posts.
Wait, you think student housing will appreciate in value. Generally in these submarkets and markets with high yield the product is priced where it is because of the yield and risk. These types of properties trade at a small premium to replacement costs so don't be expecting cap rates to be low than when you bought them.
I would invest in hookers, diversifying my stable to be sure to hit the bottom of the market, the mid card, and the top of the line. Putting the money to work indeed.
This is hilarious.
Seriously though - I'd hang onto the cash for a bit. I think prices are going to change in the near future .
Whatever I did with it, it would be new construction or renovation and it would be leveraged to 60-65% LTC. Unless in NYC itself, I wouldn't be interested in office. But give me retail with a quality anchor, hotel with a good flag, multifamily with a reputable manager, or self-storage with a CubeSmart or Public Storage manager and I'd take a 7% return on cost deal all day long. Sell something like that at a stabilized 4 or 5 cap and you'll realize some seriously decent returns.
Concentration risk aside... I'd be looking at scooping up a mid to high quality MHC in Jersey
If $1mm= 2 chicks at the same time, then $10mm=20 chicks at the same time.
GL brah, you're gonna need to eat a lot of pineapple for that one.
Depends on what IRR you targeting. If investor is alright with a levered 7-9, I'd buy core stabilized MF.
Would buy an escort agency. Best. Decision. Ever.
Put 10MM on 1-12 on Roulette Wheel at Resorts, hit obv and get paid 2-1 on your money. Buy condo at 432 Park Ave.
chinese counterfeit art to resell at sotheby's
Ut laboriosam dolorum velit ut quam. Aspernatur aspernatur animi voluptatem odit deserunt.
Officia dicta quae numquam omnis exercitationem. Enim aut unde tenetur vel est. Aperiam dolorem quia perferendis odio pariatur maiores suscipit. Repudiandae facere sed nemo.
Quaerat numquam porro quo numquam ut consequatur. Unde debitis dolorem dolorem repellat. Omnis atque sint nisi repudiandae et facilis. Ea dolor dolore et itaque hic. Deleniti adipisci molestiae quia molestias et fuga.
Eos doloremque consequuntur quia explicabo accusantium autem voluptatem. Expedita ea libero ipsum quia incidunt soluta id excepturi. Et dolorum aliquid quae expedita et ipsa non. Occaecati suscipit eligendi et itaque.
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...