How to invest 200k in Washington State for highest cash flow?
Hello,
My parents have recently asked me to become the POA and Representative Payee for my grandmother. My grandmother has been in an adult family home for the past two years out of necessity. Prior to the adult family home, my grandmother had a savings of over 300k. She now has a savings of 200k due to the AFH costs. Once the money runs out, Medicaid will cover her expenses, however this will eliminate all flexibility that private pay provides. My parents know I am passionate (though inexperienced) about real estate and have asked me if I would be interested in solving this problem. My solution is to purchase rental properties. In order to cover my grandmothers expenses (after social security), I need to make as close to $2800 dollars in cash flow as possible. One concern I have with leveraging, is that if something goes wrong, I will not be able to cover both the rental property expenses and my grandmother's bills at the same time, so I would prefer to make cash purchases. Does anyone have any suggestions for how they would invest 200k in order to get the most cash flow possible, specifically in Washington State?