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Updated about 6 years ago,
Inheritance? What would you do?
Good afternoon Bigger Pockets team! I have a family friend that had the fortune of inheriting quite a bit of money as of late. Through a series of events, she is now privy to roughly $500k. She knows that I invest in real estate, and was considering putting some of the funds into different types of holdings. A few of the questions she asked me though are below. I have my thoughts on them, but I'd love to get some others opinions, maybe there is something I haven't thought of.
Should she pay off her student loans first?
Should she pay off her primary residence? Maybe use a HELOC down the line?
She understands to concept of leverage, so she's looking to maximize some homes on that front, but what type of units should she buy? SFHs? Multi? Commercial?
Any tax implications that I'm not thinking of?
Thanks so much everyone!