What Would You Do Next with $700K Cash-Out Refi? Need to Accommodate Elderly Grandma

[Murilo Duarte]

Hey BP Community,

Looking for some insight from those more experienced or with a fresh perspective on what my next move should be.

Background:

• I’ll be cashing out $700K from a refi soon.

• DSCR is 1:1, so not ideal for heavy leverage or negative cash flow deals.

• Currently paying $50K/year in rent.

• Living with my 84-year-old grandmother, so housing decisions have to accommodate her comfort and mobility.

• She needs a single-story or minimal-step home, ideally 3 bed / 2 bath.

• Location constraints: Has to be a comfortable, safe area in West LA or South Bay (non-negotiable due to her well-being).

My Dilemma:

I want to make the smartest move that balances real estate investing with the very real personal constraint of taking care of my grandma. Ideally, I'd house hack — but that’s hard given her needs and the local housing market.

My Goals:

• I'm eager to become a real estate investor and eventually leave my 9–5 job.

• Open to fix & flips, BRRRRs, or any hybrid strategy that gets me in the game and building momentum.

• Would love to use this $700K to buy a primary residence that makes sense financially, and possibly invest the rest in cash-flowing or value-add properties.

• Not opposed to investing out of state for returns, but my primary residence has to be local and grandma-friendly.

What I Need Help With:

• Ideas for creative house hacks or multifamily solutions that respect my constraints.

• Whether to buy vs rent locally and invest elsewhere.

• General guidance on how to best deploy the $700K while making sure I don’t stall out in analysis paralysis.

Would love to hear what you would do in my shoes. If you’ve dealt with similar constraints or just have ideas — I’m all ears!

Thanks in advance 🙏
Murilo Duarte and Grandma