Replace/Supplement My Income w/ $250,000 Investment(s)
I have saved up 250k in cash and have been looking into my local real estate scene (Sacramento, Ca) in order to find properties to invest in. My goal is to put the money to work for me by looking for the deals that will maximize my monthly income unfortunately I cant find anything in my area that will yield much more than a 6% cap rate. I know I can buy multiple properties for 250k in other states verses half a property here at home in Northern California and am leaning towards that.
I am seeking advice on how I can maximize my income using my saved funds of 250k by investing in real estate. I am open to going out of state but am cautious since some unscrupulous agents have attempted to take advantage of me and my perceived lack of local market knowledge.
Long story short, I am seeking advice on where and how to invest to maximize my income. What is the maximum possible income I can achieve with 250k right now in the U.S?
Thanks in advance!