Duluth, GA · Member since 2017 · 4 posts · 2 votes
Hello - As you can see I am new to this site but have been following BP podcasts for a long time. Have a few investment properties that I have acquired through mortgage and now have an opportunity to buy in cash. I have come in to some funds which I would like to invest wisely and I would appreciate your advise.
There is so much info in BP that sometimes it's information overload. Do you know of a step-by-step guide within BP?
Is BP Pro upgrade worth purchasing in the beginning or later down the road?
That's up to you. Read the benefits of a pro membership and decide if they are useful. Before spending money, go through the free guides.
Also, decide where you want to invest that capital. The way to invest wisely is to determine your investment criteria and stay disciplined to that criteria. What returns are you looking for? How much risk are you willing to take on? Do you want to be an active investor or a passive investor? What is your time horizon for these investments? Residential, Commercial, or other alternatives?
These questions will help point you in the right direction.
@Rick J. Step 1, invest in what you know. I don't buy rare coins because I don't know what they are worth. You probably know what a good deal looks like in your area. Buy it, manage it well, and let the cash flow replenish your cash stash. Then repeat. It is a sure fired get rich slow scheme that has very little risk.