Newbie wanting to do something smart with inheritance.

[Erica Winship]

Good afternoon everyone, my name is Erica and I am based out of Milwaukee, Wisconsin. As described, my father passed away last June unexpectedly of a heart attack. Now that I am in the better parts of the grieving process, I need to face the fact that I will be coming up on an inheritance, and I want to do my best to do what he would do with it. My father did financially well in his life so to speak and was also a entrepreneur throughout his whole life. He was extremely creative on how he built his wealth and was even a college drop-out.

 I am 27 and for work I am a Graphic Designer a part of a marketing team, I understand this skill may come handy in the future. I am pretty set on the idea of trying out flipping one house, but I still keep an open mind. I am open to any input as of to where I get started and plan on listening to all the available BiggerPockets podcasts. I also have a landlord course that is offered for free through the state that I plan on taking as an exit strategy for me would be turning said flipped house into a rental if it doesn't sell in a timeframe I feel comfortable. I plan on using a realtor to help me walk through houses the first couple times and even obtain my first property, but plan on obtaining my own license in the process so I can eventually cut out that middleman. Any advice critiquing my path is much appreciated, I am happy to be here and am enthusiastic to meet people on BiggerPockets. Can't wait to meet you! 

[Erica Winship]

@Joe Splitrock Thank you so much for your detailed post and the condolence, I really appreciate it. I understand that this will be a job, but seeing I want to try something new I figured I'd give my hand at it once and if it isn't for me, the multiplex idea sounds like a brilliant start. Thank you for helping me look out in regards to vultures, I will be careful and not state amounts or anything like that. I just wanted to stress that I don't want it to just sit there and not do anything or buy foolishly like spending it on a luxury car, I want to do something very practical. As for debt, I do not have any, I was the first one to get out of the student loan hole out of anyone I know, so I must be doing something right! Currently I rent with a roommate because I wanted to scale back on finances in order to accrue wealth to purchase a first home, then this happened. Thank you so much for your advice, I just love talking about this stuff as it really intrigues me. I think I'm more interested in this kind of education that I was when I went to school to grab two art degrees!