1 million dollars but no income
First i want to start off with...this isn’t a random post for no meaning to see what people say. This is an actual situation for someone close to me
They currently have about 1 millions dollars that was passed down by a deceased relative and want to know how they can invest it in real estate in MA
He is interested in sfh but doesnt know if thats the best idea. He believes smf homes would be best for him to start out on. He wants to know if financing would be possible and how much should be set for reserve funds and generally if a property management firm is the right idea. He really just wants the money to grow.
Even thought about house flipping to increase the 1 million a little to get some more properties but looking for more insight
Most Popular Reply
@Scottie Mateo Have him keep it in the bank until he has a sufficient amount of knowledge to make an educated investment.
Folks typically start with SFH investing because they don't have 1M yet. As mentioned, there are other strategies to achieve a better risk-adjusted return (lower risk, higher chance of a higher return) than SFH.
Hope you're ready for a load of messages from turnkey providers and brand new syndicators wanting your friend to invest :)