I never purchased real estate and recently acquired $400,000

[Jack K.]

I am 28, I live/work back and forth between Phoenix, AZ. and Brooklyn, NY. I've never invested in real estate because I simply didn't have the money. Now I have $400,000 liquid to invest. How would you invest this money in real estate and where specifically. 

[William Wright]

Jack,
If you came upon 400k suddenly as you mentioned, I would strongly encourage you to not do anything for at least 6 months. Talk to professionals. Think about what your short and long term goals are, and do not do anything for 6 months so when you do move forward with an appropriate investment it will be well thought out. You will have lots of people who bring to your attention "amazing" opportunities and other tempting investments. I would keep your liquidity and money low key and talk to people with experience one off and you will be able to make better decisions next year when you're ready. It may also pay off to wait a little to see what happens with the market bubbles but either way I would strongly encourage you to hold off in order to avoid any impulse buying which would be a big mistake.