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Hello Everyone:
A relative of mine is recently disabled; we need to find a reliable, competent investor with whom she can
grow her remaining funds (much of her estate was consumed by medical expenses from a recent accident- her medical expenses/&medical care are ongoing and will have to continue for quite a few more years). She is being told by doctors that she cannot return to work for some years, likely never….so reliability is important (re: the investor). Does anyone have any suggestions re: this?Time is of some essence.
Thank-you so very much for your ideas/inputs…..!
DonnaHey Donna
What state does your friend live in? And how much money are you talking about keeping busy?
Would he/she be more interested in monthly income or growing the nest egg?
You want to work with an experienced investor and never ever put all your chips on the table at the same time. Start slow! Let the investor you invest with prove themselves before you invest more. Then repeat.
Thank-you Jackie:
Is it important which state she lives in…..? ie. does she need to be driving past the investments etc?
Right now she is in Texas (north texas: dallas suburbs-for medical reasons). She likely will move to the
Washington DC area w/in a few months (somewhere outside DC where the air is purer: eg Leesburg ?, or outside Annapolis possibly. But somewhere around there since she needs to sue the gov’t for her accident/return of her estate (it was their fault she had the accident). Originally she was from California…is a longtime Californian- she formerly owned real estate there (pre-accident). For a year, 2012, per doctor’s suggestion, she lived in Washington state; just north of Seattle’s Bainbridge Island. She has some close friends there.Amount to invest:To start out, going slowly as you also suggested, she will want to try seeing what happens with $50,000, more or less, depending on the situation/investor. Going slowly was our instinct, too.
Income vs growing nest egg……
Depends on the time the money would be tied up for. Is it possible to accomplish both?
If not, then likely we need to know how long the money will be tied up for, before being able to decide that.
Per your input, I will check with her.Thank-you so very much….
DonnaJackie,
Am guessing you have been too busy w/other matters to reply……but if you think my relative must invest more at first, ie to find good, reliable investor, pls just let me know…that will be do-able…..but we had thought it best to start slow; then to risk larger amts after seeing how it all went.Thnk-you, Donna
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Donna, FYI, the Dallas and Fort Worth areas are some of the hottest housing markets in the nation, per this article from July 11th:https://www.bizjournals.com/dallas/news/2017/07/11/dallas-fort-worth-rank-as-two-of-the-top-u-s.html
It ranks Fort Worth at #3 and Dallas at #4 (with San Antonio coming in at #5), but that’s only important if your friend has a need for nearby hand-on access to such properties. If her physical condition is such that she needs strictly to park some cash for passive returns only, then where she chooses to live is wide open. For example, a guy I’ve followed for some years named Lee Arnold up in Idaho who has a network of companies that do private funding for real estate investors all over the country. COGO Capital is one of those companies, here:
There’s enough contact information there to ask about what maximum and/or minimum amounts of investment funds they probably have an ongoing need for, what kind of returns might be expected, what safety provisions they have to assure the return OF one’s capital as well as the return ON it. With an arrangement like that, your friend could choose to live about anywhere, although I’ve never ever heard of anyone moving away from the DFW area “for better air.” In fact, the in-migration to both Fort Worth and Dallas is pretty much limited only by how fast new housing can be built, or existing ones refurbed. In the last year, some 40% of DFW-area houses were sold to flippers, investors, contractors or builders, rather than directly to home dwellers:
http://www.star-telegram.com/news/business/article161281298.html
(And there are federal courts locally accessible as well.)
Also, depending on your friend’s skills and knowledge, there are all kinds of ways to create and run businesses online — that don’t place heavy physical demands on a person, depending on the nature of the one or more disabilities.
–Dee
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