Originally posted by @Kenny Ramsey:
I’ve been blessed to work myself into a situation to reap 150k in liquid cash with a near perfect credit score.
I’ve very interested in real estate bc I’ve been in the construction trades my entire life (enjoy it as well). I can literally do any repair and specialize in HVAC & Plumbing.
Located in Charlotte, NC.
What I want out of this/these investments are never have to work a 9-5 again. I would like to be the maintenance and property manager.
What should I do with this 150k?
Kenny, is it mandatory that you invest in Charlotte or would you be willing to invest in say, Winston-Salem or Greensboro? That will make a difference, because RE prices differ by location.
Also, seeing as how you want to more-or-less cease your employment status, it matters how much monthly/yearly income you need to keep you afloat. Everyone is different. Some investors swear they cannot make it on anything less than $10,000/month or even more. And other investors say they clear $1500/month and that they are living their fantastic dream lives. There is no one-size-fits-all answer here. If you need $10,000/month, you probably can't make that happen with $150K cash in Charlotte's market. If you need $2000/month, you should be able to make that happen fairly easily. I'm speaking about buy-and-holds.
OTOH, if you plan on being an active repeat flipper, you can get started with with that amount and, if you avoid losing money on your first flip, you might build up to being able to survive on your profits.
As @Blake Edwards said, there is no way any of us can give you a quick answer on what's the best way for YOU to proceed. At best, we can tell you what any ONE OF US might do with $150K cash.
Me? I'd use it to buy three or four houses where I'd be all-in (buy+repair) at $35K-$50K each, and gross $2500-$3000 monthly. Now that's gross, not net, but it would be a good start. I'd then wait a few months to let the dust settle, then refinance those houses to pull the value out. That would reduce my gross income from approximately $2700 down to approximately $1600, but it would allow me to buy three more houses. With six houses generating roughly $5000-$5500/monthly minus the refi total of $1200/monthly, I'm left with approximately $3800-$4100 net monthly.
From that, you'd first put aside an appropriate amount for CAPEX, taxes, insurance, and future repair costs, then "pay" yourself what's left. Some people would say "heck yes" to that $3000/month, others would scoff at it and the responsibility of being a hands-on landlord/maintenance guy. You decide what's best for you. But, that scenario is not possible in Charlotte, because the all-in costs would be higher than $35k-$50k
Right now, I don't think you can have a good idea of what you should do. You first must educate yourself on all the possible REI options. Asking here is a good first step. If I were you, I would not make an investment until I'd read/absorbed/learned as much as I could from BiggerPockets and other sources. This is a big opportunity for you, and you don't want to blow it by acting before you have educated yourself.
Good luck!