Updated over 5 years ago on . Most recent reply
How to add to my portfolio?
I would like to say Hi to everyone! I am new to the forum. I live in Lancaster, SC about 30 minutes outside of Charlotte, NC . I am 26 years old with four rental properties 100% paid for currently netting around $2500 a month. I have a background in single family rentals as my parents and grandparents have around 20 single family properties. I currently have a job make around 100k a year and liquid funds around 100k. I am wanting some advice on where I should go from here and how I should invest the 100k. Any advice would be greatly appreciated!
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#2 Market Trends & Data Contributor
- Rental Property Investor
- Indianapolis, IN
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#2 Market Trends & Data Contributor
- Rental Property Investor
- Indianapolis, IN
@Brandon Miles Congrats on the success at such a young age! If I had to guess you sitting on nearly half a million dollars and it's burning hole in your pocket. With that kind of money the sky is the limit. Don't forget it's important to have balance and to give back. I hope donating becomes important to you over time.
You're already successful at single family but I see the portfolio shifting to multi-family. You could cash out some properties and start the next chapter. At 26 years old I'd pump the brakes from time to time. You don't want to be burned out on real estate investing by the time you're my age (33). The long game wins in this industry.
Best of luck.