Personal Finance
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 3 years ago,
More Money than Sense, What to do when receiving a large sum!?
Hey guys!
Some background
My wife and I(both 25) have recently liquidated some assets($50k) due to relocating across country and have decided to sell our triplex for a $200k-$300k profit. We also make $4000 a month and $10k-$25k two times a year. We are extremely frugal and have no consumer debt. My wife is a stay at home mom now(we have a 2 month old son!!!) and I am currently going to college(GI bill).
We have other rentals and plan to continue to invest in sfh's but this is going to be 65%ish of our net worth liquid all at one time.
With the rest in super conservatives retirement funds, a split family business in Seattle, and other real estate.
My thoughts on how to move forward.
We have purchased $20k in livestock(registered black angus) for personal use more than anything
We plan to invest $50k into a small business we own that would push the $10-25k to $50k or greater
We need to finish about $35k in rehabs
To pay off all properties would cost $140k(not really considering it)
We are finally at a point in life where saying "what do we have to lose " is not an option anymore and we need to protect our capital better. Any advise is very welcome!