On this rookie reply, we're talking through three big decisions rookie investors are facing right now.

How to structure a land development project, whether to invest in short-term rentals you can also enjoy,

and whether to cash out a retirement account to buy your first property.

These are real questions from real investors just starting out, and they hit on

some of the most important things you'll have to weigh when getting started, like risk,

return, and how to use the money you already have.

This is the Real Estate Rookie Podcast, and I'm Ashley Care.

And I'm Tony J. Robinson.

And with that, let's jump into question number one, which comes from Allura in the Bigger Pocket's

form.

So this question says, I have the ability to purchase a great piece of land with an abandoned

home.

The parcel as it sits allows for an eight unit to replace it, but we don't have the cash

for anything like that.

The secondary option is to divide it into three lots, build on one, sell, and then use that

money to develop the other two. The three lots would only be approved for a single family.

Obviously, the eight unit makes the most sense for long-term money. We just don't have the capital for a project

that large yet. I also haven't taken on that large of a multi-unit build. Would you make do with

the option you have of subdividing and building? Would you build a smaller multifamily unit on the

lot instead? Would love to get insight from others on how they would handle it. Interesting situation to be in, you know, to have the lot, abandoned home.

It reminds me of Katie Neeson, we've had on the podcast, and that's pretty much her entire

strategy where she goes around looking for lots with abandoned homes or lots where abandoned

...