Portfolio Growth and Generational Wealth Creation

[Brian Cain]

Hello BP friends. I would appreciate an expert's opinion about a fortunate situation I'm in. I'm starting my own family-owned real estate investment company. To summarize, I want my entire family to be a part of this endeavor where we purchase and hold the property for the long term creating generational wealth. Here is the situation. As an investor myself, I've always loved the business of real estate. Due to their advancing age, my parents will be leaving all their property to us, the children. My parents will leave 3 residential homes and 2 commercial buildings. Over the next few years, I hope to leverage this opportunity to grow the portfolio. They're alive and well now, but they want me to manage the properties and expand the family portfolio. Since I am not trying to start a property management business, I would probably outsource that section to someone else. I'm mainly interested in finding new properties and land to invest and hold. My future focus would be on purely commercial properties, such as apartments, mobile homes, commercial warehouses, etc. I am sure I left out some additional information, so I would appreciate an expert's opinion on how to proceed. Happy Holidays BP peeps!