I've purchased/sold multiple times for my primary residence. I'm in the process of moving from one state to another, and if all goes well in this market, I should be under contract tomorrow. My plan is to move, carry both mortgages, put about $10-15K into my current property over the next month or two, and then sell it. Some renovations on my current property are necessary, while others I believe will add proper value, but that's not the focus of my post.

Once I sell my current property, I'll have approximately $165K in cash not accounted for in my budgeting, and I have 100% options on utilization. I have a six-figure W2, and I receive stocks gifted to me and bonuses totaling upwards of an additional six figures a year. My finances are in order with a 401K, Roth, safety cash, etc., so this $165K will be available. To be very conservative, let's assume I have $100k free every year going forward. I don't budget for any portion of that as, although it's highly probable, it's not guaranteed. Normally, I would diversify this across stocks. However, I'm not seeking advice on what to do with my current investments; I'm interested in advice assuming I just have the $165K and potential $100K/yr YoY. To say that differently, I am not interested in tapping into stocks and other investments I own, but rather utilizing this current cash on hand and future free cash.

I'm an avid listener of podcasts from BP but I'm new to the forums. I'm also quite knowledgeable about real estate investing through YouTube, although I understand that it can be like Googling why your knee hurts - there's a lot of information out there, and it's not all reliable. I've come across discussions on cash buying versus financing, and Airbnb versus long-term rentals. I don't 'think' I am interested in creative financing, wholesaling, or other things as such, but I am open to your mastery. I'm moving to an area with a large hospital presence and I know someone who does Airbnb for short-term family stays. I also heard a podcast where someone does medium-term rentals for rotating nurses, etc. In past years I always had in mind acquiring doors and having semi-steady monthly.

While I have a highly flexible schedule, I don't have the freedom to be on call at any time. Additionally, I am occasionally out of the country for 2 weeks to 3 months. I mention this because I believe I must pay for property management. I absolutely hate the idea of giving away money, but with my lack of experience and time, I 'think' it's the right approach. With this information, where would you recommend I start, and any advice would be greatly appreciated.

I know you'll hate on me for this, but I am also flexible in my goal. I love making every dollar work for me. On one hand, I am not looking to quit my job, but would love over the next few years if it wouldn't really matter if I lost my job. That is goal one (not having a significant impact on my life). I don't want to stockpile cash in fear of the unknown, but I don't want to start over financially if the worst occurs. The other is simply long-term wealth building. So, I guess in short, stability has a greater priority, while in the long term, I lean towards possession and wealth building that maybe even my children take advantage of.

Virginia Beach, Virginia

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