I have recently come into some capital...

[Max Gabriel]

Hi All --

I have recently came into a decent amount of capital, approximately ~$5M, free and clear, and I have begun reading Brandon's book on rental property investing. I am only 25, and I despise the day-to-day mundanity of the corporate world. I am 25 years old and believe I can turn this $5M into a generational empire if I approach this correctly. 

I live in NYC, so I can't see myself house hacking, I don't think my significant other would be on board with it either. 

What do you recommend as some ways to get started? 
How do you identify areas of significant interest to you?

How important is it for your first property to be within range of your current home?

Any advice would be helpful. 
I would love to connect with real estate professionals, investors, etc. and begin building my network!

Cheers!

[Travis Timmons]

$5M x 5% simple interest is $250,000 per year (that will compound and grow over time assuming you don't spend more than $250k per year in living expenses). Live off of that and forget real estate. You should be able to live off of simple interest and dividends with that amount of money. 

Is that $5M after tax or pre-tax? Either way, simplify your life. The returns of real estate may be higher but so is the hassle factor. Focus on protecting what you have and creating an amazing life over building more wealth.

Also, whatever you decide to do, do it slowly. There is this tendency to want to deploy a pile of cash right when one gets it. Resist that urge. It's even worse if you've had some time to think about it leading up to getting that pile of money.