Noobie inherited 1 Million Dollars

[Account Closed]

Hello! I love this site. Learned so much on it already!

Before I go on, I would like to say that I feel very fortunate, lucky and very grateful for this inheritance. This money was given to me without my doing anything. So I see it as my duty to increase it, rather than waste it.

I am 45, single, no kids and live in California. I rent. I am thinking of investing in long distance properties (duplexes/fourplexes) under 200.000, starting out with a single family home to get my feet wet. I am reading David Greene's and Chris McLaughlin's book.

What would YOU do with that money? What would be your strategy? Any tips? Advice? 

Thank you, everybody!

[Brian Garrett]

This is hypothetical right?

Surely you wouldn’t want to post on a public forum that you’re a newbie to an industry and have $1M at your fingertips.

Be prepared to get a lot of colleague requests and messages and proceed with caution because not everyone has your best interest in mind.

To answer your question I would put it in a high yield savings account earning 2%+ while I educated myself on all the various types of real estate investment strategies. 

Then you’ll know which direction appeals to you and aligns with your goals the most.