Thought Experiment: What Would you do with 55k$
Hi All! Ok, so I noticed that IRL, people respond to this question with SO many diff answers and it always hinges on their (1) risk tolerance and (2) personality.
Say your daughter, the single income winner for 2 small children, lives in CA. She can't invest where she is bc the market's just too high, so house hacking is off the table (kids also need to be near their dad for their well-being). She needs to build her REI portfolio fast to set up income streams, and she also works a full-time job. She is about 55k$ liquid. She's ID'd about 3 long distance markets for investment. Her credit isn't great post-divorce but she's smart, and willing. She's moderately risk tolerant
What do you advise her to do? BRRRR? Buy and hold? Create other relationships with other investors to partner for MFH? Start with SFH? Land contract 2 properties at once, clean up credit, and a year later, refi? All the above!?
Talk to me, friends! What would YOU do?