100,000 Dollars in cash that needs to be invested
I have a friend that has few properties that he is renting and wants to increase his portfolio. He has a $100,000 cash he wants to invest. On top of this, between him and his wife they have more than $150,000 in credit card credit with no debt, except a mortgage. No major card with more than a 10.9% interest rate. Two of the credit cards are for Lowe's and one for Home Depot that total over $30,000 in credit. He asked what should I do? Every month the rent money comes in, which is about $3000, and the repairs on all of the properties average less than $200 a month. He has managed to do this within the last 18 months. His rental properties are well above average. He is disabled, but does not draw social security. He is limited to making no more than $40,000 a year at a job, because of the rules of his disability insurance. He is allowed to make unlimited investments, and can make as much is he desires, providing it is not employment. He has a very nice home that he is a little upside down in with an average mortgage. (1,300 a month) Does not care to move. He has and will drive vehicles until the wheels fall off, he has a decent boat, and doesn't live a flash lifestyle, doesn't care to, however, he does own 2 timeshare properties, that him and his wife go to every year for vacation. He is one that will not put all of his eggs in one basket. He is scared of taxes, because of what he is bringing in. What advice would you give him for further investments?