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Updated over 2 years ago,
My mom sold a property that was her retirement... now what?
Hi BiggerPockets! My mom is in her 60s and just sold a home in San Francisco that's essentially her retirement. The next step is to reinvest the income into something that'll cash flow to pay for monthly living expenses. From what I can see, California isn't really the best cash flow state. Curious to see what routes Bigger Pockets members have taken in this scenario, and how they got started...
- Invest in an out-of-state apartment complex and have a property manager run it?
- Invest in an Air Bnb in California?
- Drop an ADU in the backyard?
I'm sure the answer to this post could be along the lines of "depends on what you want", but would love to hear feedback from members who've been in a similar scenario! Appreciate all your insights! - Grant