My mom sold a property that was her retirement... now what?
Investor · San Francisco, CA · Member since 2019 · 11 posts · 5 votes
My mom sold a property that was her retirement... now what?
Most Popular Reply
Lender · CA · Member since 2015 · 9k+ posts · 10k+ votes
4yTrigger warning: bigger pockets heresy incoming.
The heresy:
She's 60. Let her retire.
If you are her son and want to play with $2m, go earn $2m.
For mom, go look at things that are actually passive income, which direct ownership of real estate is not. If she wants it to be real estate related (which isn't crazy, rents hit an upwards inflection point a few months ago due to rising consumer-facing mortgage rates and how "substitute goods" work, and all the real estate builders switching from SFR to multifamily tells you where they think the football is going to be in 2-3 years+), look at shares of some of the Wall Street megacorporation landlords that everyone loves to hate. Blackrock pays a 3% dividend (to pick one that everyone loves to hate, that I have no personal vested interest, or shares, of). If we're talking $2m (I made that number up), that's $5k/mo, more if the builders are right. There are also some ETFs which aggregate/pool the risk of one company making bad choices.
If she wants to increase the risk and return, without giving up it being passive, while still in the real estate realm, lots of mortgage stocks are completely in the dumps right now. It's a "too big to fail" industry that's indifferent to anti-landlord and anti-investor legislation ("ok, so we do more loans for primary residence owners, and less for investors, whatever"), adding a layer of safety. Some of the mortgage stocks have gotten so cheap they are paying a >10% dividend (share price is the denominator in the ROI division, so as that goes down without the dividend decreasing proportionately, it forces ROI up, because math).
31 Replies
- Investor · San Francisco, CA · Member since 2015 · 75 posts · 25 votes4y
@Grant Nelson1031 exchange it and buy all cash out of state or do an airbnb depending on where you have connections/how much risk you want to take
- Investor · Scottsdale Austin Tuktoyaktuk · Member since 2021 · 4k+ posts · 4k+ votes4yIf it is investment property that hasn't closed yet, you can get a 1031 intermediary to set up a 1031 exchange. Otherwise, I velieve it's too late for that.
Quote from @Grant Nelson:
Hi BiggerPockets! My mom is in her 60s and just sold a home in San Francisco that's essentially her retirement. The next step is to reinvest the income into something that'll cash flow to pay for monthly living expenses. From what I can see, California isn't really the best cash flow state. Curious to see what routes Bigger Pockets members have taken in this scenario, and how they got started...
- Invest in an out-of-state apartment complex and have a property manager run it?- Invest in an Air Bnb in California?
- Drop an ADU in the backyard?
I'm sure the answer to this post could be along the lines of "depends on what you want", but would love to hear feedback from members who've been in a similar scenario! Appreciate all your insights! - Grant
One her CPA has figured out how much she winds up with after any taxes, it's easier to give direction.
My play right now is to get out of cash and into assets. Inflation hurts savers and helps commodities like real estate, gold, silver, transportation, etc. I choose real estate for a variety of reasons, but it has to be cash flowing real estate. She may want to consider the same. If she wants cash flow, DM me and I'll point you to some options.
I think it's a risky time to rely on appreciation for real estate and I personally don't consider appreciation in any market, good or bad, and certainly not now.
People can use 401(k)s, IRAs, Pensions and cash set up correctly to produce cash flowing income and reduce their exposure to the stock market. It's all in knowing what she wants and what her goals are. Quote from @Grant Nelson:
Hi BiggerPockets! My mom is in her 60s and just sold a home in San Francisco that's essentially her retirement. The next step is to reinvest the income into something that'll cash flow to pay for monthly living expenses. From what I can see, California isn't really the best cash flow state. Curious to see what routes Bigger Pockets members have taken in this scenario, and how they got started...
- Invest in an out-of-state apartment complex and have a property manager run it?- Invest in an Air Bnb in California?
- Drop an ADU in the backyard?
I'm sure the answer to this post could be along the lines of "depends on what you want", but would love to hear feedback from members who've been in a similar scenario! Appreciate all your insights! - Grant
The options you list are not passive even with the use of a PM. OOS apartment complex is full of risk especially related to the PM. Even if you get a good PM, they often get bought, retire, or just get complacent. Air BNB in CA is at risk of anti STR regulations, require a lot of effort to setup and get started, and in CA do not have good initial cash flow. Adding an ADU is typically a value subtraction meaning in most CA markets the ADU will add less value than the hands off cost of adding the ADU. There is also the subtraction of now sharing a property.
Retirement should be passive; a time to enjoy life without the obligations of a job. There are many passive non-RE investments that produce various returns. S&P 500 has lifetime return approaching 10%.
For RE, the passive option that likely produces the best return for least effort is as an LP on a syndication. There are numerous successful syndicators that project near 20% annual return and have a history of achieving better than projected. If you go this route, do your research on the syndicator. There are many syndicators that do not have much history and the risk of them not achieving projection is high.
NNN investments are also low effort after acquiring, but acquiring a NNN that will provide good returns IMO requires more effort than identifying a good RE syndication.
Good luck
- 4yTheresa HarrisPro MemberMember since 2019 · 15k+ posts · 11k+ votes
What did she plan on doing with the money once she sold the house? How much does she need each month? Rentals require work and money even with a good property manager. If she wants her privacy, I wouldn't do an ADU. Air BNB require a lot more work than a long term rental.
- Investor · San Francisco, CA · Member since 2019 · 11 posts · 5 votes4y
Quote from @Daniel Pierson:
@Grant Nelson1031 exchange it and buy all cash out of state or do an airbnb depending on where you have connections/how much risk you want to take
Daniel, appreciate the note. Agreed,1031 exchange is definitely on the list of options. We've thought about out-of-state markets, and would want to go somewhere we have connections.
Thanks for the insights.
For passive 1031 exchange, she can also consider DST's.
@Dan H. what's your take on DST's vs NNN vs paying cap gains and investing in syndications?
I know people who have done each of these. My issue with syndications and DST's is that we're in a downward market, and I highly doubt the returns going forwards will be anything near the returns of the last 5-7 years. Remember these are in essence investment companies soliciting for your funds to invest in their projects. They collect fees as a primary driver. So they continue purchasing even in down markets, which may not always be the best thing for the passive investors. I'm leary of NNN as well as cap rates are so compressed right now- you really need to know your local market to make wise NNN purchases imo. If you're relying on superficial knowledge from a broker's brochure and some basic stats, I think you're at risk. So how can you look at NNN across the country and get enough inside knowledge on a specific location without relying heavily on what the broker tells you? That's totally different from investing in the city/region you personally live in and have been following from a variety of information sources, plus your first hand experiences. Buyer beware imo.
Hi Grant! Investing out of state in some of the mid west states is a strategy I used to scale my portfolio. Long distance investing has never been easier than it is now with all the tools available to get started. Feel free to connect if you are interested in talking about investing in Cleveland, OH.
- Real Estate Agent · Kansas City · Member since 2018 · 5k+ posts · 3k+ votes4y
I'd say a multi family. For example here in KC you can 1031 into great properties, it'll just depend on how much capital. Ideally you'd want to be in the 500K+ range to be in the 4+ unit range
- Real Estate Professional · Lakewood, OH · Member since 2015 · 47 posts · 19 votes4y
Without knowing more about her finances, I'd suggest diversification unless she has another source of retirement income. Typically retirees move into something like bonds in order to have certainty about cash flows. Real estate has fairly predictable cash flows but investing out of state or in a property that requires great management can be risky, as others in this thread have mentioned. I'd suggest purchasing a couple of properties cash in different areas until finding a city or management that works. I wouldn't dump it all into one area or one property.
- Investor · San Francisco, CA · Member since 2019 · 11 posts · 5 votes4y
Quote from @Account Closed:
If it is investment property that hasn't closed yet, you can get a 1031 intermediary to set up a 1031 exchange. Otherwise, I velieve it's too late for that.Quote from @Grant Nelson:
Hi BiggerPockets! My mom is in her 60s and just sold a home in San Francisco that's essentially her retirement. The next step is to reinvest the income into something that'll cash flow to pay for monthly living expenses. From what I can see, California isn't really the best cash flow state. Curious to see what routes Bigger Pockets members have taken in this scenario, and how they got started...
- Invest in an out-of-state apartment complex and have a property manager run it?- Invest in an Air Bnb in California?
- Drop an ADU in the backyard?
I'm sure the answer to this post could be along the lines of "depends on what you want", but would love to hear feedback from members who've been in a similar scenario! Appreciate all your insights! - Grant
One her CPA has figured out how much she winds up with after any taxes, it's easier to give direction.
My play right now is to get out of cash and into assets. Inflation hurts savers and helps commodities like real estate, gold, silver, transportation, etc. I choose real estate for a variety of reasons, but it has to be cash flowing real estate. She may want to consider the same. If she wants cash flow, DM me and I'll point you to some options.
I think it's a risky time to rely on appreciation for real estate and I personally don't consider appreciation in any market, good or bad, and certainly not now.
People can use 401(k)s, IRAs, Pensions and cash set up correctly to produce cash flowing income and reduce their exposure to the stock market. It's all in knowing what she wants and what her goals are.Mike, thank you for the insights. The place hasn't closed yet, and we're still in the midst of figuring out how much she'll wind up with after taxes.
I agree, I think appreciation is not the move in her scenario at the moment. We're looking more towards cash-flowing assets. I'll shoot you a DM with more info. Thank you!
- Investor · San Francisco, CA · Member since 2019 · 11 posts · 5 votes4y
Quote from @Dan H.:
Quote from @Grant Nelson:
Hi BiggerPockets! My mom is in her 60s and just sold a home in San Francisco that's essentially her retirement. The next step is to reinvest the income into something that'll cash flow to pay for monthly living expenses. From what I can see, California isn't really the best cash flow state. Curious to see what routes Bigger Pockets members have taken in this scenario, and how they got started...
- Invest in an out-of-state apartment complex and have a property manager run it?- Invest in an Air Bnb in California?
- Drop an ADU in the backyard?
I'm sure the answer to this post could be along the lines of "depends on what you want", but would love to hear feedback from members who've been in a similar scenario! Appreciate all your insights! - Grant
The options you list are not passive even with the use of a PM. OOS apartment complex is full of risk especially related to the PM. Even if you get a good PM, they often get bought, retire, or just get complacent. Air BNB in CA is at risk of anti STR regulations, require a lot of effort to setup and get started, and in CA do not have good initial cash flow. Adding an ADU is typically a value subtraction meaning in most CA markets the ADU will add less value than the hands off cost of adding the ADU. There is also the subtraction of now sharing a property.
Retirement should be passive; a time to enjoy life without the obligations of a job. There are many passive non-RE investments that produce various returns. S&P 500 has lifetime return approaching 10%.
For RE, the passive option that likely produces the best return for least effort is as an LP on a syndication. There are numerous successful syndicators that project near 20% annual return and have a history of achieving better than projected. If you go this route, do your research on the syndicator. There are many syndicators that do not have much history and the risk of them not achieving projection is high.
NNN investments are also low effort after acquiring, but acquiring a NNN that will provide good returns IMO requires more effort than identifying a good RE syndication.
Good luck
Dan, thank you for the reply. AN LP on a syndication is a route that she's currently looking into, and thinks it's a great route. Lowering risk at this point in her life is definitely on our minds!
- 4yDave FosterBusiness MemberQualified Intermediary for 1031 Exchanges · St. Petersburg, FL · Member since 2013 · 9k+ posts · 9k+ votes
@Grant Nelson, To save you a lot of time initially ask the syndicator up front if they can give your mom a tenant in common interest in the property owned by the syndicate. This is the only way 1031 will work. Most cannot. So you'll want to weed through those quickly.
The 1031 Investor5140 Reviews - Lender · CA · Member since 2015 · 9k+ posts · 10k+ votes4y
Trigger warning: bigger pockets heresy incoming.
The heresy:
She's 60. Let her retire.
If you are her son and want to play with $2m, go earn $2m.
For mom, go look at things that are actually passive income, which direct ownership of real estate is not. If she wants it to be real estate related (which isn't crazy, rents hit an upwards inflection point a few months ago due to rising consumer-facing mortgage rates and how "substitute goods" work, and all the real estate builders switching from SFR to multifamily tells you where they think the football is going to be in 2-3 years+), look at shares of some of the Wall Street megacorporation landlords that everyone loves to hate. Blackrock pays a 3% dividend (to pick one that everyone loves to hate, that I have no personal vested interest, or shares, of). If we're talking $2m (I made that number up), that's $5k/mo, more if the builders are right. There are also some ETFs which aggregate/pool the risk of one company making bad choices.
If she wants to increase the risk and return, without giving up it being passive, while still in the real estate realm, lots of mortgage stocks are completely in the dumps right now. It's a "too big to fail" industry that's indifferent to anti-landlord and anti-investor legislation ("ok, so we do more loans for primary residence owners, and less for investors, whatever"), adding a layer of safety. Some of the mortgage stocks have gotten so cheap they are paying a >10% dividend (share price is the denominator in the ROI division, so as that goes down without the dividend decreasing proportionately, it forces ROI up, because math).
Quote from @Amit M.:
For passive 1031 exchange, she can also consider DST's.
@Dan H. what's your take on DST's vs NNN vs paying cap gains and investing in syndications?
I know people who have done each of these. My issue with syndications and DST's is that we're in a downward market, and I highly doubt the returns going forwards will be anything near the returns of the last 5-7 years. Remember these are in essence investment companies soliciting for your funds to invest in their projects. They collect fees as a primary driver. So they continue purchasing even in down markets, which may not always be the best thing for the passive investors. I'm leary of NNN as well as cap rates are so compressed right now- you really need to know your local market to make wise NNN purchases imo. If you're relying on superficial knowledge from a broker's brochure and some basic stats, I think you're at risk. So how can you look at NNN across the country and get enough inside knowledge on a specific location without relying heavily on what the broker tells you? That's totally different from investing in the city/region you personally live in and have been following from a variety of information sources, plus your first hand experiences. Buyer beware imo.
I have never purchased a NNN but I agree with everything you stated about NNN. it is passive after identifying and purchasing the property but that is the challenge. That aspect is not passive, full of challenges, and typically requires building relationships.
As for the syndications, I somewhat agree, but the returns for many syndicators have so far surpassed projections that a reduction in returns should be expected. It is akin to the stock returning 20%+. It cannot continue indefinitely at that return. Look for syndications that have a niche likely to do well in this current market. For me this means I would avoid any syndication that was mostly relying on better management to produce the projected return. One local syndication, for example, leverages local ordinance that automatically allows ADU construction in existing building footprint. They buy buildings with under utilized, from financial perspective (NOI), building space and convert that space to studios (I dislike managing studios, but they are great from NOI view). Sometime the new ADU units approaches the count of existing units. They rehab existing units increasing NOI. They add studios increasing NOI. Sometime the properties are also mismanaged alliwing increase to Noi. They are increasing NOI so significantly that cap rate loss should be absorbable.
I’m not a fan of resulting tax complications of syndications, but our taxes are already complex so a little more complexity is not that big a deal. I can see this not being the case for everyone.
- Investor · San Francisco, CA · Member since 2019 · 11 posts · 5 votes4y
Quote from @Theresa Harris:
What did she plan on doing with the money once she sold the house? How much does she need each month? Rentals require work and money even with a good property manager. If she wants her privacy, I wouldn't do an ADU. Air BNB require a lot more work than a long term rental.
Hi Theresa, at the moment she's in contact with a financial advisor on some options on how to invest the money from the sale. To cover living expenses, I believe she's looking at needing anywhere from $4k - $6k per month. Thank you for the insights!
- Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes4yI actually have helped my parents get started in RE for their retirement here in Ohio. I have helped them buy several properties in Columbus and I am helping them expand into the Cleveland markets. It has been great and now I have them hooked. They cannot wait to buy more properties.I am more than willing to help you if you have any questions.
Quote from @Grant Nelson:
Hi BiggerPockets! My mom is in her 60s and just sold a home in San Francisco that's essentially her retirement. The next step is to reinvest the income into something that'll cash flow to pay for monthly living expenses. From what I can see, California isn't really the best cash flow state. Curious to see what routes Bigger Pockets members have taken in this scenario, and how they got started...
- Invest in an out-of-state apartment complex and have a property manager run it?- Invest in an Air Bnb in California?
- Drop an ADU in the backyard?
I'm sure the answer to this post could be along the lines of "depends on what you want", but would love to hear feedback from members who've been in a similar scenario! Appreciate all your insights! - Grant
- Investor · San Francisco, CA · Member since 2019 · 11 posts · 5 votes4y
Quote from @Chris Mason:
Trigger warning: bigger pockets heresy incoming.
The heresy:
She's 60. Let her retire.
If you are her son and want to play with $2m, go earn $2m.
For mom, go look at things that are actually passive income, which direct ownership of real estate is not. If she wants it to be real estate related (which isn't crazy, rents hit an upwards inflection point a few months ago due to rising consumer-facing mortgage rates and how "substitute goods" work, and all the real estate builders switching from SFR to multifamily tells you where they think the football is going to be in 2-3 years+), look at shares of some of the Wall Street megacorporation landlords that everyone loves to hate. Blackrock pays a 3% dividend (to pick one that everyone loves to hate, that I have no personal vested interest, or shares, of). If we're talking $2m (I made that number up), that's $5k/mo, more if the builders are right. There are also some ETFs which aggregate/pool the risk of one company making bad choices.
If she wants to increase the risk and return, without giving up it being passive, while still in the real estate realm, lots of mortgage stocks are completely in the dumps right now. It's a "too big to fail" industry that's indifferent to anti-landlord and anti-investor legislation ("ok, so we do more loans for primary residence owners, and less for investors, whatever"), adding a layer of safety. Some of the mortgage stocks have gotten so cheap they are paying a >10% dividend (share price is the denominator in the ROI division, so as that goes down without the dividend decreasing proportionately, it forces ROI up, because math).
Hi Chris, thanks for the reply. No trigger here. I don't want any part of her money, and do just fine earning for myself.
The scenario here is that she didn't come into $2m(I know that was just a guesstimate and I didn't specify what she came into), but she came into a few hundred thousand which won't necessarily sustain her for the rest of her life. The scenario is more of "how do we stretch this few hundred thousand".
Your insights around different options are much appreciated!
- Investor · San Francisco, CA · Member since 2019 · 11 posts · 5 votes4y
Quote from @Aj Parikh:
Hi Grant! Investing out of state in some of the mid west states is a strategy I used to scale my portfolio. Long distance investing has never been easier than it is now with all the tools available to get started. Feel free to connect if you are interested in talking about investing in Cleveland, OH.
AJ, thanks for the note! I've read David Green's "Long Distance Real Investing", and like the idea a lot. I feel like I'd want to have contacts in the area that I know.
Thank you for the insights!
- Investor · San Francisco, CA · Member since 2019 · 11 posts · 5 votes4y
Quote from @Steven Foster Wilson:
I actually have helped my parents get started in RE for their retirement here in Ohio. I have helped them buy several properties in Columbus and I am helping them expand into the Cleveland markets. It has been great and now I have them hooked. They cannot wait to buy more properties.I am more than willing to help you if you have any questions.Quote from @Grant Nelson:
Hi BiggerPockets! My mom is in her 60s and just sold a home in San Francisco that's essentially her retirement. The next step is to reinvest the income into something that'll cash flow to pay for monthly living expenses. From what I can see, California isn't really the best cash flow state. Curious to see what routes Bigger Pockets members have taken in this scenario, and how they got started...
- Invest in an out-of-state apartment complex and have a property manager run it?- Invest in an Air Bnb in California?
- Drop an ADU in the backyard?
I'm sure the answer to this post could be along the lines of "depends on what you want", but would love to hear feedback from members who've been in a similar scenario! Appreciate all your insights! - Grant
Steven, I've heard the Columbus and Cleveland markets have been great for people and of course are more affordable. Appreciate the insights!
- Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes4y
Quote from @Grant Nelson:
Quote from @Steven Foster Wilson:
I actually have helped my parents get started in RE for their retirement here in Ohio. I have helped them buy several properties in Columbus and I am helping them expand into the Cleveland markets. It has been great and now I have them hooked. They cannot wait to buy more properties.I am more than willing to help you if you have any questions.Quote from @Grant Nelson:
Hi BiggerPockets! My mom is in her 60s and just sold a home in San Francisco that's essentially her retirement. The next step is to reinvest the income into something that'll cash flow to pay for monthly living expenses. From what I can see, California isn't really the best cash flow state. Curious to see what routes Bigger Pockets members have taken in this scenario, and how they got started...
- Invest in an out-of-state apartment complex and have a property manager run it?- Invest in an Air Bnb in California?
- Drop an ADU in the backyard?
I'm sure the answer to this post could be along the lines of "depends on what you want", but would love to hear feedback from members who've been in a similar scenario! Appreciate all your insights! - Grant
Steven, I've heard the Columbus and Cleveland markets have been great for people and of course are more affordable. Appreciate the insights!
Of course! It sure is a great market. The appreciation here has also been great. Even with the interest rates at what they are right now, we are still making deals work.
- Investor · San Francisco, CA · Member since 2019 · 11 posts · 5 votes4yDave, thank you for the reply and the insights.
Quote from @Dave Foster:
@Grant Nelson, To save you a lot of time initially ask the syndicator up front if they can give your mom a tenant in common interest in the property owned by the syndicate. This is the only way 1031 will work. Most cannot. So you'll want to weed through those quickly.
- 4yRemington LymanBusiness MemberReal Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
Quote from @Grant Nelson:
Hi BiggerPockets! My mom is in her 60s and just sold a home in San Francisco that's essentially her retirement. The next step is to reinvest the income into something that'll cash flow to pay for monthly living expenses. From what I can see, California isn't really the best cash flow state. Curious to see what routes Bigger Pockets members have taken in this scenario, and how they got started...
- Invest in an out-of-state apartment complex and have a property manager run it?- Invest in an Air Bnb in California?
- Drop an ADU in the backyard?
I'm sure the answer to this post could be along the lines of "depends on what you want", but would love to hear feedback from members who've been in a similar scenario! Appreciate all your insights! - Grant
I like investing locally when I can
- Investor · San Francisco, CA · Member since 2019 · 11 posts · 5 votes4y
Quote from @David Rogers:
Without knowing more about her finances, I'd suggest diversification unless she has another source of retirement income. Typically retirees move into something like bonds in order to have certainty about cash flows. Real estate has fairly predictable cash flows but investing out of state or in a property that requires great management can be risky, as others in this thread have mentioned. I'd suggest purchasing a couple of properties cash in different areas until finding a city or management that works. I wouldn't dump it all into one area or one property.
David, makes sense to diversify and limit risk. Thank you for the inisights!
Quote from @Grant Nelson:
Quote from @Chris Mason:
Trigger warning: bigger pockets heresy incoming.
The heresy:
She's 60. Let her retire.
If you are her son and want to play with $2m, go earn $2m.
For mom, go look at things that are actually passive income, which direct ownership of real estate is not. If she wants it to be real estate related (which isn't crazy, rents hit an upwards inflection point a few months ago due to rising consumer-facing mortgage rates and how "substitute goods" work, and all the real estate builders switching from SFR to multifamily tells you where they think the football is going to be in 2-3 years+), look at shares of some of the Wall Street megacorporation landlords that everyone loves to hate. Blackrock pays a 3% dividend (to pick one that everyone loves to hate, that I have no personal vested interest, or shares, of). If we're talking $2m (I made that number up), that's $5k/mo, more if the builders are right. There are also some ETFs which aggregate/pool the risk of one company making bad choices.
If she wants to increase the risk and return, without giving up it being passive, while still in the real estate realm, lots of mortgage stocks are completely in the dumps right now. It's a "too big to fail" industry that's indifferent to anti-landlord and anti-investor legislation ("ok, so we do more loans for primary residence owners, and less for investors, whatever"), adding a layer of safety. Some of the mortgage stocks have gotten so cheap they are paying a >10% dividend (share price is the denominator in the ROI division, so as that goes down without the dividend decreasing proportionately, it forces ROI up, because math).
Hi Chris, thanks for the reply. No trigger here. I don't want any part of her money, and do just fine earning for myself.
The scenario here is that she didn't come into $2m(I know that was just a guesstimate and I didn't specify what she came into), but she came into a few hundred thousand which won't necessarily sustain her for the rest of her life. The scenario is more of "how do we stretch this few hundred thousand".
Your insights around different options are much appreciated!
I thought it was more money. I consider entering syndication too risky for that amount of retirement funds. I would feel a little different if you already had some relationships with good syndicators. Unfortunately there are some unproven or bad syndicators and their marketing makes them seem Outstanding.
With that sim my view is to find some safe lower return investment option and sleep well knowing that the investment is not going to decline significantly.
good luck- 4yNicholas L.Pro MemberFlipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
I don't have a good answer for you - if it's retirement money you're trying to "stretch," you probably want to be more conservative. Investing it all in lower cost properties in the midwest to try to generate cash flow to pay for living expenses doesn't seem like Step 1 here... do you own rentals yourself anywhere?
Seems like you would want to talk to a financial advisor. I'm not saying go do 100% of what they tell you, but why not have a conversation or pay a few hundred dollars for a plan you can pick options from?
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