Sold a business, have about 1 MM to invest.

[Kevin Swan]

Hello, folks! 

My wife and I are in our late 40s. We have owned a one single-family rental before. We have renovated houses before. We like doing it! 

I sold a business a couple years ago and will be getting a final payout this summer. I want to invest about 1 million and wondered how you guys would do it. I don’t know anything about commercial real estate. We need our investment to generate some cash flow, since we don’t have other jobs right now. About $100k/year would be good. If we can’t manage that, we could get jobs to supplement.

We are considering buying and holding several rentals. Would you pay cash? Would you leverage and hold mortgages? We were told only 4 regular mortgages are allowed in Indiana now, and since we don’t have standard income, we may be tough to qualify. 

I’ve enjoyed what I’ve learned from the book and reading the forums. Looking forward to what you all have to say!