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Updated over 6 years ago,

User Stats

15
Posts
7
Votes
Jeremiah Leonard
  • Rental Property Investor
  • Cary, NC
7
Votes |
15
Posts

Using an inheritance to start off my investments or save it?

Jeremiah Leonard
  • Rental Property Investor
  • Cary, NC
Posted
I have a good amount of money set aside in assets that was given to me by my grand parents, roughly $250k. On top of this I have a decent paying job that is also producing enough where even if I didn't have that 250k I think I could start with something smaller, maybe even partnering with a friend who's similarly interested in getting into real estate. And has the same long term goals as me (both young 20s and want to replace our current work income with passive to travel). I'm looking for advice on the risks of investing it in real estate (currently in stocks and bonds). The smartest way to use it if I do (perhaps using it to put money down and they paying myself back with a refinanced mortgage in the BRRRR method). I'm also curious if the old adage "it takes money to make money" could be applied here and what I should really consider before even touching that money. It seems like it should give me an edge of I'm smart with it, but realistically should I take risks with my first property or maybe hold off and do it on my second property?

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