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Updated about 2 years ago,
What would you do? 50 year old starting the journey
I am 50 and have a goal to replace my income, or at least a lot of it by 60. My wife and I have strong W2s and are closing on a 300K HELOC this week. We are in process of building an Airbnb (Den Modern Cabin in Adirondack mountains) in her hometown in upstate NY where we already own 15 acres. I want something to get going here in Indianapolis as well and have a decent start and some solid contractors. My initial thought is BRRRR, but with rates where they are a bit nervous there. Duplex sounds interesting and cash flowable, but I am also thinking of turnkey (looked at rent to retirement) to get my feet wet and not get too buried in my first door. There are so many options, but having 300K HELOC available gets me excited. What would you do? Psyched to learn from you all.