Maintaining Wealth through REI

[Joseph Hanson]

I recently came into what I would consider a life changing amount of money from the sale of my business. Instead of sitting on it for years to come, I want to put that money to work in the real estate market in my own backyard.

A lot of beginner articles/podcasts are all geared towards saving money or getting started with little to no money. If I have already conquered that step, where is the best place to start that will create the cash flow comparable to having a job? My background is in business so I have no problem with the work that comes with managing a portfolio, searching for and analyzing deals, building a network.

ALSO

This may be a corporate/employee mindset type of question but as an investor how do you pay yourself? Where do you draw the line from what do I deem is mine/what should go to my personal checkings account and what should be reinvested and grow my business?

[Jared Hottle]

My mind goes to 2 things. Good syndications can provide passive cashflow for people with large sums of money to invest so that may be an area. Me personally, I want to be more active investing and if I had life changing wealth I would be looking for value add BRRRR style multifamily properties. Easier said then done of course but the hardest parts are getting cash to buy distressed properties and the cash to renovate them. If you have that then you can continually recycle your money and not only can you improve neighborhoods and living situations across the US but you can watch your initial investment continually be recycled and create even more wealth.