I Have Access to $1,000,000, What Should I Do???

[Andrew Rosenbaum]

So I am an absolute newbie. I'm in the Suburban Philadelphia area where the market is crazy right now and it's so difficult to find a deal to make money on. I'm sure I'm not looking in the right places because of my lack of experience so I could really use some help. I have an angel investor who is willing to lend me money at 12% interest. He has upwards of $1M that he's giving me access to but I have no clue where to start. I hate my job and want to begin investing in real estate ASAP. If you had access to this much capital, where would you start? I know this is an incredible opportunity and my lack of knowledge is the only thing holding me back. HELP!!!

[Jonathan Greene]

You don't have access to $1,000,000. This is like a beacon post to draw attention, but then it's just a candle. Some guy with $1,000,000 who will lend you money at 12% is just waiting for you to fail. Ask yourself, or the rest of the world this, why would some guy give you access to $1,000,000 to invest in real estate when you know absolutely nothing? What do you think he or she sees happening? If you want to quickly ruin the relationship, foreclose all future business, and probably end up with a bat on your knee, don't even think of taking a cent. Taking money at 12%, knowing nothing about a business just because you don't like your 9-to-5 job is recipe for disaster.