MIL has $150K to invest and I want to help her, what should I do?
Hello,
My mother-in-law recently inherited about $150K. She is single, doesn't have much of a retirement, and I'm concerned she will just spend the money if I don't help her invest. I am fairly new to REI with a couple of SFRs in the Seattle area. I'd like to use this as an opportunity to help her, learn new skills, and possibly even generate income for my family.
My initial thought is to help her find a duplex or fourplex near my home north of Seattle. I would help her through the whole search and transaction process. Then, I feel confident that I could act as the property manager and take a small % of the monthly income. She gets some passive income to help with retirement.
I just wanted to bounce this off the community to see if this is a decent plan. Would you recommend helping her with a different type of REI? Where in Seattle area would you recommend?