I would find a myriad of people across the country that you could use to purchase real estate for you, renovate it and split the profits with. There are plenty of deals out there where you can make a nice income annually which is way better than what banks wants to pay you on a CD. It is also a good way to keep all of your eggs out of one basket. Ready cash always makes a deal go faster and smoother.
Or you could learn how to landlord, but thats pretty tricky a lot of the time, youd have to learn a lot about asset protection. If you want a course for landlording and renting, Id buy Lou Browns course.
Diversify! Don’t put it ALL in any ONE stream. Get yourself a financial advisor and diversify! Stocks, real estate (can do this through REITs without getting your hands dirty), bonds, etc. NEVER PUT ALL YOUR EGGS IN ONE BASKET!
And don’t forget to give some of it to people who need it…charity always comes back 10 fold (both in money and spiritual well-being).
I agree with Jean on this one…find other people who will do all the dirty work, you provide the financing for 1/2 the profit!
If you wish to invest in New York (not the city) Real Estate, I’m raising my hand as an interested partner with you!
Don’t use all of it this way however, be conservative with some of it in stocks and mutual funds. Unless you really know real estate already, can tell the good deals from the bad, divest yourself across many different investments.
Florida, Naples is HUGE right now. Contractors fighting over land. Every new development is by raffle. I am personally moving there in one week. Home values are literally doubling over night in this town. Very large purchase market, will soon be a refinance market once many realize they have new found equity in their investments.
I live in Florida too-Volusia County which is also very hot however home prices are going up so fast in this area-what is the average price of a home in Naples? Is it more expensive than Daytona? I have some money to play with-not a lot-but I would rather buy as low as I can in a rapidly growing market. Any advise?