Any suggestions?? Parents want me to invest for them

[Matthew Gallacher]

Good evening everyone,

So I've run into a situation I never thought would happen. After 4 years of talking about real estate, seeing me purchase & house hack my first duplex AND a VERY heated 2 and a half hour argument about the risks and rewards of real estate investing with my father... My parents called and said I've convinced them to invest in multi-family. Not only this, but they pay off their house in January and would like to use a HELOC to use as a down payment on the first (or first few) properties. They want me to find their deals and do the math on the properties to see if it gives them a return. Essentially they're writing me a check and sending me off to find properties to fund their retirement. Oh, and I get a small slice of the rent as a fee for in house property management. Does anyone have any suggestions on where to even begin? I'd like to stay here in the Waterville and central Maine area to invest as this is an area I'm becoming familiar with. Thanks for your time and look forward to seeing what you guys come up with for suggestions, questions and concerns

[Mike Dymski]

Run.  Real estate is hard enough as it is without heated arguments, small slices, and ruined family relationships.  Sourcing and managing active real estate is not like helping someone with a passive retirement plan.