So here's something new...
After careful consideration, deliberation, and research, I've decided to dip my toe in the world of real estate investing. Yes, out of left field I know. But instead of all this cash sitting around earning a measly 1% for the next however many years (and the stock market is gyrating too much right now), why not put that money to work and earn a more consistent return?
Since Tucson, AZ is the intended destination for my later and retirement years, I'll be taking a short jaunt there in July. The goal is purchasing a decent suburban home to rent out and letting it appreciate in the meantime, perfect for dipping my toe in those investment waters. Now I know you could probably try and dissuade me with all the nightmare tenant stories you've heard. But I look to one of my uncles, who owned 5 local properties, never had any tenant issues and ended up selling said properties recently, doubling his money. There is a proper way to do things, and obviously I'll be taking the least riskiest approach in regards to property management, tenant screening and ample insurance.
Other than that, there's not much else to report. Just scrambling to shore up cash reserves for when the real estate agents come asking. I'll let you know next month whether I've pulled the trigger on this new venture. |