$1 million to invest, what would you do? Strategies?
My last thread didn't get much traction so I thought I'd try this.
With $1 million in cash to invest into real estate, what would you do?
For example:
1) One Big Multifamily with management
2) A few smaller multi families
3) Buy new maintenance free single family homes in the GTA since cash flow isn't needed (minimal work)
4) Look west of GTA and pickup a whole bunch of cash flowing properties slowly and build a portfolio (more work for me)
5) Other?
Some details about me:
- Located in GTA
- My Business makes about 400k a year and growing
- I don't take much of a personal income and have limited credit history, but an excellent score (bad for mortgages)
- Early 20's so a very long horizon.
- If my investments don't cash flow I don't really mind, I don't need the money right away.
- I do want to be a bit more on the passive side as I can make a lot of money from my other business. So things like BRRR or student rentals or properties that require a lot of my time don't really interest me.
Can't wait to hear from you guys.