I would buy properties. Usually gold is a safe commodity to bet on, however I think you have the potential to earn back more with properties and the market is a lot more secure.
The opportunity to rent the properties out will also give you constant income.
My plan would go something like:
Buy my first property for cash. Say around $400k. Rent this one out.
Then use the remaining $600k to split them into 6 different properties, paying a deposit of $100k on each, and getting a mortgage using the rent from the very first one. The rent would then pay off the bank and I can use my money to buy 7 properties in total, rather than just one or two.
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I would buy properties. Usually gold is a safe commodity to bet on, however I think you have the potential to earn back more with properties and the market is a lot more secure.
The opportunity to rent the properties out will also give you constant income.
My plan would go something like:
Buy my first property for cash. Say around $400k. Rent this one out.
Then use the remaining $600k to split them into 6 different properties, paying a deposit of $100k on each, and getting a mortgage using the rent from the very first one. The rent would then pay off the bank and I can use my money to buy 7 properties in total, rather than just one or two.
Good strategy. Yes, makes sense. I would buy cheaper properties in NC.