The biggest question is where to invest. I have numerous stocks in my retirement accounts, but I would like to invest some money somewhere else. Diversification means more than just buying ten different mutual funds. Real estate seems like an obvious investment choice, but I’m having trouble getting started with my limited budget.
The option that keeps looking good to me is to buy a fixer-upper, fix it up, and then sell it. The big problem is time. With work, homeschooling, and foster care, I have very little time to invest into fixing up a house. I can barely keep up with the house I already own.
There was a period when I had the time. I was between jobs, and anxiously searching for a new one. However, then I did not have the money to risk.
What I would most like is a partner I could trust, who currently had more time than money. With my excellent credit and some cash, we could buy a fixer-upper together, and fix it up quickly. I’d even be willing to take a small loss on our first house, just for the experience.
I’ve got a couple of people in mind as partners. The hardest part is going to be bringing up the topic. Second hardest part will be convincing The Wifey that this is a good idea at this time. Since I’m not quite sure myself, that might actually be the hardest part.
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