What Do I Do With $300k Post Tax?
I have some money and I'm not sure what to do with it in re. Since I know this all depends on my goals and what I'm willing to do this is it (pls don't ridicule me for my goals lol):
⦁I want to be somewhat passive in the investment. I don't care if I can't be 100% passive. I'm fine putting in work but don't want to do any flipping. More like value add buy and hold or something
⦁Down the line I want to net at least $100k/mo
⦁I have all the time in the world
Now the second one has been making me face an issue for months. Obviously you can make money anywhere in re but with my goals I'm not sure where it'd be most effective to invest with my current goals. Honestly just like to hear some different opinions. That's what I love about BP; there's soooo many different ways to accomplish your goals. I'm just trying to find my way.
But for example, I don't want to buy and hold hundreds or thousands of sfh's to accomplish my goal. I want to do something that fits my goals and will be fastest way there. And I'm not thinking overnight or next year or anything like that. Like if it took 20 years to net that with sfh's but there's an option more suited for my goals that'll take 10. I hope that makes sense.
I've narrowed it down to buy and hold multifamily because of the scalability. Still, I'm wondering if there's anyone where I want to be and has any advice on what they would do if they had to restart with only $300k and had the same goals as I do. Or anyone at all who would just like to chime in.
Trust me, I know that much isn't nearly enough for my goals. It's just my starting point. I still wonder if multfamily would be my best option or perhaps even short term lending. I honestly have never researched anything on being a short term lender so I don't know how that is.
Any thoughts would be appreciated
cheers