Large Sum of Money; Real Estate Trends; Sit-out or Jump-in?
Hey there - first discussion post here. Thanks in advance for any feedback. Recently came into a large chunk of money from family estate -- approx. 800K liquid and ready for investing. Only my wife knows of these funds; none of my friends or colleagues are aware; I'm hesitant to even post this to a forum. (This may not be a lot of money for the seasoned investors, but it is for me). I have a primary residence with 350K equity. I've determined my investing will be in buy-and-hold rentals,with >50% down. My goal is to essentially build an annuity and slowly piece together a portfolio with stable cashflow.
I've listened to all the BP podcasts and read nearly all the recommended RE books, so please don't recommend a book or podcast. I'm wondering about the collective sentiment on market trends, housing appreciation, and strategy.
If you were in my position, and wanted to invest solely in rentals, would you sit-out the market for a few years or jump-in? Would you trickle in (buy a few rentals) or would you buy a large mutli-family? Again, thanks for the feedback.