I have an LLC that we placed our retirement money in and also have gotten a heloc on the house we own. we built a townhouse that we are renting out. we live in the quakertown area in PA. we have been studying for about a year now what may be our best options to go with since we are in our 60"s. we are seriously considering notes.. we have $300,000 to invest with and would like guidance from someone who knows our area and is willing to lead us in the right direction.
I live and invest in Pottstown PA, not too far from you, and I think it really depends on how hands-on you want to be with your investing.
You can add value to your investments by doing work yourself - finding and negotiating deals, raising additional money, learning about different strategies - and you can spend more or less time with those things, depending on your appetite for learning new things and being hands-on. In this case, you might buy a small multifamily property and have a go at being a landlord, or just find and negotiate the deal and hire a professional management company so that you don't have to take calls and handle maintenance. There's a direct relationship between your work and the additional payoff here, and some people are okay taking on a new job, while others prefer to spend their time in other ways.
If you prefer a more passive investment/hands-off approach, then you can invest in notes, if you know and understand that space. BP has a great book called The Book On Real Estate Note Investing, which provides great guidance for understanding that industry.
Another option would be for you to act as a private money lender for other people's real estate deals, which means that you're "the bank" and they do the work. For example, someone might find a house that they can buy for a great price but they don't have the funds for it. As a private lender, you would provide some or all of the money to buy and rehab the house. Then the investor who brought you the deal would either do a cash-out refinance and pay you back with the proceeds, or sell the house (as in a fix and flip) and pay you off with the sales proceeds.
There are a lot of ways to put your money to work in this industry. Feel free to let me know if you want to know more about one of these strategies!
thank you Clark you have given me much to consider!