$4MM...Quit rat race and become an owner operator? WWYD?
Late-20's acquisitions associate in an HCOL city.
I just received a $4MM cash gift this year. I've been planning to quit the corporate job, lever up conservatively, and acquire a SME/income producing property to run as an owner-operator.
$4MM is a significant amount for someone my age but it is hardly FUCK YOU money. I could lever up and buy a Class B $10MM apartment/self storage site/golf course but would have to become a property manager and deal full-time with the Joe Schmoe tenants & customers. The deals I'm seeing would need an owner-operator to run instead of third-party management for the economics to make sense.
I like the idea of working for myself and building up equity but am not sure if I want to trade in being surrounded by sharp people from ib/repe/big law backgrounds to deal with retail customers (collecting checks, coordinating plumbing maintenance, making sure the customers/tenants are happy)..but I guess that's how value is extracted in RE lol.
Has anyone had similar thoughts? Would like to get the community's thoughts on this...would you keep grinding and just stash the extra dough in the VOO?