That's the closest answer to where I'm at now... real estate is the best candidate at the moment, rental properties or flipping houses.
Besides California, where would you be looking to buy?
Besides California, where would you be looking to buy?
Oddly enough, they have generally negative experiences renting to parents of students instead of directly to students.
I will say that my friend works full time as the property manager for their units. It's not a passive investment.
Several years ago, I talked with an accountant who had clients who owned rental property about the ROI. The feedback was that if you had to hire a property manager and outsource all repairs/maintenance, the value proposition of rental property was greatly reduced and closer to neutral than many owners initially assumed.
It looks like it is working out well for my friends though - they were able to leverage their financing as they acquired new units because interest rates have been so low. They have been cash-flow positive for many years. But they also capped themselves at about 20 units under management.
Personally, I am in Florida and it is quickly recovering now and you have to look harder to find the right rehab if that is what you want to do, but good rentals are easier to find. And frankly, I am loving that the younger generation is renting far longer then in the past, this is helping to keep rental rates good and driving demand for now.