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Originally Posted by Bobert
Yes, real estate isnt for everyone. I'm 27 as well and had real estate for 5 years now. I used my school money to buy my first, plus savings and a loan from my family. It's never depreciated in value, but no big deal if it does because they made money from day one. First lesson in real estate, make sure it makes money the day you buy it!
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At the level he is able to play, it's called investment property and should prolly be in a LLC or family partnership or ? Now someone that doesn't understand FDIC is not ready to jump into a bunch of property. A house to live in is a different matter.
His ability to make money is on the web, not in managing money. So why not play the strength in making money and put a team together to handle the cash assets. That would be Estate Planner, Lawyers, Financial Planner etc.
I would suggest large umbrella insurance coverage to protect assets. The LLC or another way of limiting liability is required too.
Hard to believe someone didn't understand bank interest or FDIC with that much liquid cash available????? But that has been answered. Please tell me this isn't some fake drama shit.