When I sold my web development business I got a large sum of money and nothing to do with it.
I needed to find my next big thing. I wanted to continue to expand my wealth, mind and creative energy. I did some research on where it is smart to invest. I found that real estate is probably the best. You need to have more assets in order to have a higher net worth. At the end of the day, that is how you stay financially in the green. You need your money to work for you in that regard. Finding rental properties wasn’t too bad for me. I also am quite handy. I can repair electrical issues, HVAC repairs and do some minor plumbing. When I needed something bigger, I called the local handyman for assistance. When my rental properties started piling up, I had some issues. A few rentals are easy to manage on my own. I could do all the lawn care, repairs and clean up on my own. All the money went right into my pocket. After a while I got too many rentals in my portfolio. It was really difficult managing them all. I got calls constantly from people that needed something. I didn’t know what repairs were legit and what weren’t. I eventually had to throw in the towel and hire a property management company. A property manager has really changed things for me. I suddenly have more time to look for better investments. I no longer am fixing leaky toilets but making deals. I should have hired someone years ago.