Truthfully, after getting a couple hundred thousand in the bank I started to see the wisdom in this; although it pains me to see that much money in the account earning so little.

Hey all,I'm a first-time investor looking to do my first house hack in New Bedford, MA. I'm looking to connect with investors with experience with the city.Why New Bedford? I know that taxes and tenants get tricky her...

I'd like to solicit the collective wisdom of BP for advice on deciding between two scenarios to invest a small windfall.  

There is good debt - I don't agree with a lot of "traditional" financial wisdom similar to what you've mentioned. 

Thanks again for the words of wisdom it is much appreciated!

Thank you for your wisdom!

For example, conventional wisdom says a Realtor should expect their first commission check 6 months after getting licensed. 

Wow Steve, THANK YOU SO MUCH FOR POURING WISDOM.

@Michael KingThank you for your words of wisdom.

Originally posted by @Joe Seegers:you guys have to realize you should work with tenants,because if this last along time like 2008 ,you will realize what i mean.sure everyone should be able pay their rent with their stimulas checks.sure you might have to workout payment plans to they get them.but after that it might get rough ,if the goverment does not get people back to work.what choice to you have,a tenant you know,or a complete stranger without a job.alot of you where not around in 2000 and 2008.this market could get real bad.like now if you advertise a place you get a good responce to look at it.in 2008 you would advertise and hardly anybody would respond and if they did they wanted 1 or 2 months free rent.i would prefer to work with tenants now,and i can already  know which tenants its going to be.it will be the 10% of tenants you always have to remind to pay.90% of your tenants will find a way to pay.we  all know they signed a contract to pay,just be nice if they work with you,maybe stop late fees or reduce them.but to forgive the rent is another story,unless the goverment forgives our taxes.you got to realize now you should be in survival mold,for i can tell you if you make it threw their should be sunshine at the other end.because most new building is coming to a halt,most remodeling coming to halt ,most family being home more ,which maybe creates larger family,and when this done most banks will have even more tougher standards for a loan ,like 6 months reserve for a borrower.so down the road rents will rise probably more then before this crisis.so just hang in their and develop a plan you your situation.so look as this as a bump in the road.and if you live in wisconsin ,you should know by the amount of potholes we have I think there's a lot of wisdom in this post that the readers should pay attention to.