I'm 66 years old, I have 345,000 in assets, $340 social security!

[Gail Roberts]

What would you do if you had these assets and such a limited income? Actually my investments might be earning me about $500.00 a month. 

Hello, I'm new to this forum: I've never owned property, I have about $100,000 of my money invested in a mutual fund and municipals. I don't feel very comfortable with mutual funds!  I've been staying with a frenemy for very cheap but would like my own place. I've wondered about a duplex, and living on one side, I've wondered about buying a house that has a converted garage apartment or a mother-in-law unit that I would live in. It's really scary to do anything with this money. I don't know how I'd manage as a landlord, actually I'd probably pay for management and I'd want to pay off the property completely. I'm in Lane County Oregon, the market is going crazy here. 

[Account Closed]

@Gail Roberts I think the Oregon market is overheated right now. That being said, if you plan your real estate investments so that you are getting income regardless if the market is going up or down, you can relax a bit when things turn course again. There is more to things than just how much you have to invest.

Decide which kind of investor you want to be (SFR, Commercial, Land, Tax Liens, HML, Multi-Family, Notes, Fix & Flip, Buy & Hold, "Subject To", apartments, duplexes, assisted living, REOs, Foreclosures, Short Sales), etc.. Decide how much money you have access to, & the zip codes, city or state you want to focus on. That will determine the next step. Outline where you want to be in five years. Put it all in writing. Start working your plan. There are plenty of people around to help you each step of the way.