Need a place to invest $500k

[Dan Engberson]

My father is selling his rental home in CA. It should get him around $500k. He is nearly 80 years old so he wants to simply put it into a safe investment like a bond, CD, etc. I am trying to convince him to put it into real estate. However, even though he did not manage his property himself he still had to deal with it sometimes and now that it's vacant he would have to get it ready to re-rent. He has no interest in having to deal with anything like this anymore. At his age he's more interested in having no headaches than he is in ROI. So here is my question:

Does anyone know of good turnkey providers that have inventory available? I'm on the waitlist for several and have been for months, and he will need to pull the trigger on this in the spring. Also, the provider needs to pretty much handle everything so he doesn't have to. 

Could anyone make a syndication recommendation? This might be ideal since my understanding of syndication is that it is totally hands-off. 

So that's what I'm looking for: a place to put his $500k that will cashflow, appreciate (although this is less important than cashflow), and he can be pretty much hands-off. 

TIA!

Dan

[Bill F.]

@Dan Engberson

RIP your inbox lol. 

1. This topic has been covered a million times on BP. Use the search bar and go wild. 

2. BP isn't the worst place in the world to ask people what to do with money, but it is close. Get ready for a bunch of people who have something to sell you hawking their wares in this thread. Remember, if someone makes money from selling you a product, their incentives and yours have already diverged and they need to prove to you they have done other things to make them align. So far we've seen a turnkey provider pop up and someone recommending 1031/DSTs. Get ready for more. 

3. Before you go down the syndication rabbit hole, make sure your dad qualifies for accredited investor status. Then ask 'Do I want to make an investment or buy a financial product?' Because syndication are products and not investments. 

4. Why do you want to drag him back into REI if he doesn't want to. It seems like he's made it clear that he values his time more than yield. Why do you care? Let him put his money in a CD/bond/index. Turnkey and syndication will both eat up exponential more time than a CD, bond, or index. After all, it is his money.