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Updated almost 4 years ago,
Came into some money (850k), live in California HELP?
Hey guys, my name is Ben, I came into some money (in the title, 850k). I want to know what you guys think I should be doing with it. I graduated college in 2019 (older nonetheless, still graduated). I would like some advice or some input on putting together a deal. I lost my job this past October due to the pandemic. I am starting a new job on May 1st. I will be working for an Excavation construction company as a laborer. I have no overhead at the moment other than my cell phone, car insurance, gas, health insurance, etc. as I am currently living with my parents again. I lack the confidence at the moment to buy anything and feel that hopefully, I can gain that when I start working again.
California is crazy as far as real estate prices go. I can't get much let alone pay the property taxes, on the said property if I did get anything.
BUT I need to put my money somewhere.
Do you feel that there will be a real estate recession on the horizon? Within the next year or 2, thoughts?
I want to move out as well when I start to get paychecks from my job, should I find a duplex or triplex to start?