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re: What to do with cash right now?
Posted on 5/15/21 at 10:12 am to NAsh-vegas Tigah
Posted on 5/15/21 at 10:12 am to NAsh-vegas Tigah
Bitcoin - If you are holding for more than 5 years who cares what it does right now? People don't understand the economics of bitcoin.
Real Estate - I am moving back into real estate. However, I am not buying normal single family homes as the ROI is not there anymore. I am buying and or developing for short term rental platforms (airbnb). The ROI on a well researched property is astronomical.
I don't have the contract yet, but my latest deal is an abandoned retail building close to a downtown area.
I am buying it for $80,000 and will invest $40,000 into making it short term airbnb property.
It will rent for $150 a night and I am expecting 50%- 70% occupancy.
Monthly payment with taxes and insurance - $750
Power Bill - $125
Water - $50
Internet - $75
Yard - $50 (basically just weed eating, no yard)
Airbnb items (coffee, etc) - $100
$2,250 Rev
$1,150 expenses
After Airbnb fees I think it will cashflow about $600 - $1,000 a month.
Equity will have increased about $40,000 when done with renovations.
This is the only real estate model I have found that works for me during this time of the real estate boom.
If this comes to fruition like I think it will, I am going to scale this into various locations where the numbers work.
Bottom line, get the frick out of cash.
Real Estate - I am moving back into real estate. However, I am not buying normal single family homes as the ROI is not there anymore. I am buying and or developing for short term rental platforms (airbnb). The ROI on a well researched property is astronomical.
I don't have the contract yet, but my latest deal is an abandoned retail building close to a downtown area.
I am buying it for $80,000 and will invest $40,000 into making it short term airbnb property.
It will rent for $150 a night and I am expecting 50%- 70% occupancy.
Monthly payment with taxes and insurance - $750
Power Bill - $125
Water - $50
Internet - $75
Yard - $50 (basically just weed eating, no yard)
Airbnb items (coffee, etc) - $100
$2,250 Rev
$1,150 expenses
After Airbnb fees I think it will cashflow about $600 - $1,000 a month.
Equity will have increased about $40,000 when done with renovations.
This is the only real estate model I have found that works for me during this time of the real estate boom.
If this comes to fruition like I think it will, I am going to scale this into various locations where the numbers work.
Bottom line, get the frick out of cash.
This post was edited on 5/15/21 at 10:14 am
3
Posted on 5/15/21 at 1:03 pm to I Love Bama
I like the site "airdna" to run the numbers on these things.
I bought some of the previous darling weed stocks the other day way off their highs.
Before someone tells me the earnings are horrific, the market is a casino and I don't care. Its less risky than alt coins right now.
I bought some of the previous darling weed stocks the other day way off their highs.
Before someone tells me the earnings are horrific, the market is a casino and I don't care. Its less risky than alt coins right now.
Posted on 5/15/21 at 3:48 pm to I Love Bama
quote:
People don't understand the economics of bitcoin.
Please, inform us.
Posted on 5/15/21 at 3:54 pm to I Love Bama
quote:
Monthly payment with taxes and insurance - $750
Power Bill - $125
Water - $50
Internet - $75
Yard - $50 (basically just weed eating, no yard)
Airbnb items (coffee, etc) - $100
$2,250 Rev
$1,150 expenses
After Airbnb fees I think it will cashflow about $600 - $1,000 a month.
You are missing cleaning costs which will be significant or very time consuming and should account at least 100/mo for random repair costs.
You need to aim for higher occupancy or charge a higher rate or you are going to see a very poor ROI on this property as you have set it out. Not trying to be a debbie downer but those are a couple of big costs you haven't accounted for.
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