Long story short my family's business is in the construction industry. We also live an area where AirBNB and rentals are super hot.
I have the opportunity to buy a piece of land but will end up with a 80k loan and 100k cash down on the property. Family offered to help build the property (built with cash only). It will allow me to live in the same neighborhood as my parents and rent on Air BNB. We will build the property at a fraction of the cost of what I would pay for something already on the market. Homes in the area sell for $1 million plus.
What do you think MJ? It seems like you're against real estate but is this a special case? Part of me feels as though this is a great opportunity that could put me ahead.
Somewhat concerned about what time investment may be involved and if it will take me away from working on my Fastlane business.
I have the opportunity to buy a piece of land but will end up with a 80k loan and 100k cash down on the property. Family offered to help build the property (built with cash only). It will allow me to live in the same neighborhood as my parents and rent on Air BNB. We will build the property at a fraction of the cost of what I would pay for something already on the market. Homes in the area sell for $1 million plus.
What do you think MJ? It seems like you're against real estate but is this a special case? Part of me feels as though this is a great opportunity that could put me ahead.
Somewhat concerned about what time investment may be involved and if it will take me away from working on my Fastlane business.
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