Beginner Investor: Where and how to invest 60k?

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Beginner Investor: Where and how to invest 60k?

Erik Orozco
Mcallen, TX · Member since 2017 · 92 posts · 72 votes
My sisters house has appreciated 60k over 2 years and are looking to sell their home in the near future. The home is a 5 bedroom 2 1/2 bathroom and they would like to downsize or move back in with our folks. They're interested in investing in real estate and they live in Seattle, WA. Any suggestions on where and how they should invest their money?
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  • Logan AllecBusiness Member
    Accountant · Los Angeles, CA · Member since 2014 · 1k+ posts · 980 votes
    9y

    @Erik Orozco, if their appreciation is $60k, they won't be walking away with $60k...need to take into account closing costs.

    But besides that, the question of where and how they should invest is entirely dependent on their personal goals and risk tolerance.

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  • Arpan Patel
    Investor · Chicago, IL · Member since 2010 · 504 posts · 191 votes
    9y

    Agreed. Start with what they are most interested in strategy wise. We do flips and BRRRR but I wouldn't recommend a flip for the first investment (I did that and it was awful). Then there is notes or multi family etc. Also find out what types of neighborhoods that can stomach being in. That is important because if you don't want to check on a property because of the area, then you are less likely to be successful starting off there. Good Luck!

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  • Scott Carson
    Note Investor · Austin, TX · Member since 2012 · 602 posts · 357 votes
    9y

    Hi @Erik Orozco ,

    Maybe you should send her out to the Quest IRA All Pro Event Monday night...

    It will be live streamed if she can't make it.   Free tickets...

    If you want more details, PM and I'll shoot it over to you.  Over 200 people are RSVP'd! 

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  • Erik Orozco
    OP
    Mcallen, TX · Member since 2017 · 92 posts · 72 votes
    9y
    Thank you for the input fellas! Looks like they have some homework to do.
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