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Updated almost 1 year ago,
Help choosing a new RE investing strategy
We own a STR and have decided hosting and the stress of owning a property 1500 miles away are not for us. We are not interested in hiring a PM or co-host. We are going to list our property for sale in the next 2(ish) months and want to invest in something more passive. No flipping or BRRRRing. We will likely have $150K-$175K to reinvest. We are not sure where to start with choosing a new investment strategy. My husband has romantic dreams of buying land for an eventual retirement home for ourselves (10-12 years for him, longer for me). But I'd like something that provides some cash flow, even if it's only a little.
I'm feeling overwhelmed with where to start my research. I spent an exorbitant amount of time (months and months) researching STRs and markets (I basically took it on as a full-time job while I was underemployed). I don't have as much time on my hands now to go crazy figuring this out (and let's face it - probably majorly overthinking it).
I am not sure if a 1031 is going to be part of the equation or not since we are looking to purchase something at a lower price point than what we sell for (not clear on that, but I'll probably post separately in the 1031 forum for that topic).
Any books you recommend on choosing a strategy? Any specific podcast episodes you recommend? Any other suggestions for how to narrow my research? TIA!