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These are a few of my options I'm currently considering. I would like to hear some thoughts.
I have a waterfront property, and am considering turning a garage sized building on my property into an Airbnb.
A property is for sale down my lane and across the street. I am contemplating buying that and doing either short term or long term but also think it could be a general good investment even though am looking for something to give immediate income.
Buy something in another state and have a property management company do everything.
Buy something nearby in a more vacation area and let a property management company do everything.
I am a self employed guy who has a business that comes in waves(property services)...I have inherited some money and am looking for something to hopefully create another venture for me that would bring money in. I have around 200k in an IRA that's strictly for retirement purposes, 100k in a CD, around 70k that is in savings but will probably be eventually used to pay off a piece of equipment. The house I am in is paid off, and I am in my early 40s.
You know better than anyone, what YOU want to do.
I have zero bones in my body that would even think about attempting what you suggest. I'd take the inherited money and put it in Investment Grade corporate bonds.
PIGIX
FCBIX
ISCFX
Sit back and enjoy the ride. Monthly or quarterly income, and you re-invest it or live on it. Work is a good thing. But there's more to life than work.
"Break a leg."
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