Where to start investing?
I have been reading blogs, listening to podcasts and "lurking" on BP for over a year now. We are ready to start investing but can't decide where to start. We have about $65k set aside to invest in real estate and can't decide if we should start with a local rental; vacation rental (that we can also use) in Destin, FL area; multi-family local rental; or college town rental where we anticipate our son may go to college in 2 years (College Station - Texas A&M). We own our own home and have about $15k in a REIT stock held in an IRA.
I am 51 and my wife is 48. We want to build passive income to live on in retirement after I sell my business at some time in next 10 years.
Looking for any thought, suggestions or mentoring on first deal.
Clark in Katy, Texas