Just love to hear how other people would strategize their business knowing what they know now and had a chunk of money to get started. --205.156.xxx.xxx

I'd pay off what I have now and buy more. --50.107.xxx.xx

I have a local friend who actually did just this, about 5 years ago. --74.222.xxx.xxx

I would pay off my mortgages, and if there was any change, I might be able to buy something off the dollar minu at McDonald's. It would be nice to be debt free. --96.226.xxx.x

I would hire people to rehab and I would flip houses. Some would be duplexes and some not. Might end up with something I wanted to rent out but hopefully not. --73.33.xxx.xxx

Payoff my debt, buy a nice used Dodge Sprinter or similar stand up van hire a decent maintenance helper part-time invest the rest in something other than real estate as I already have all my eggs in that basket and I've already learned that lesson then tell myself not to worry as much --152.208.xx.xx

I like the talk of if you would pay off or use more leverage to very interesting. --205.156.xxx.xxx

Hard money lender. --209.239.xxx.xx

The other half I'd use for real estate investing if the deals were right. I tend to buy using cash but have used mortgages in the past. Using the leverage a mortgage allows gives a larger rate of return but the piece of mind that comes from being debt free is priceless. --65.35.xx.xxx

Yet 1m wouldn't change some others at all. --173.22.xx.xx

--24.22.xxx.xx

--24.22.xxx.xx

Oh, and buy house on Block Island, RI. --50.107.xxx.xx

Those things are royalty producing. --50.107.xxx.xx

Hire a financial advisor to learn what I need to know to manage it well. Maybe 2 or 3 to have multiple perspectives. --70.16.xx.xxx

i had a problem like this in that I had a business and it was slowly dying. I had lots of cash and bought free and clear houses. Then last year my son wanted to get into the business. I started selling the houses and we bought apartment buildings with leverage. The nice thing about leverage is it's motivating hahaha. --73.24.xx.xxx

I would find out what happened to Dave Chappel --72.23.xxx.xxx

Ray-N-Pa, best answer... I did see an interview a few weeks back, I think he said he burned out... don't know what or how... great talent, funny, and very smart. I believe both his parent are college professors. --209.239.xxx.xx

I'd just do what I'm doing now.!Which is nothing, like Gevans ,I'm retired, and I don't want to do anything at all!Oh! I did a little last weekend,with the Irish Feis and Agricultural Fair at the North Haven Fairgrounds,But we've been doing that for fifty four years now, just like second nature. Charlie...... ..... .... ... .. . --70.215.x.xxx

Invest some in turkish oil and british aeronautics company, machining factory in poland - pull these factories away from china, much of agriculture is same as 15th century in remainder of europe except northern half of france where the dense population problems exist. --76.188.xxx.xxx

I would start an ice cream parlor outside of a campground. And invest in real estate. May even consider switching to some field of human medicine, most likely geriatrics. --68.107.xxx.x

"Since I know what I know now .... stay the course." --73.249.xxx.xxx

I'm not sure I do a whole lot different other than do it with no debt. I would probably be more picky about what I buy rather than just buying whatever good deals I could make work. --166.137.xxx.xx

I think I would buy a scrap yard. I just bought foil for the grill for the weekend cookout. Why the heck is aluminum foil $11.00 a roll? --71.10.xxx.x

Interesting thread and replies. Hmmmm, I would put some towards building a bigger rehab to retail business and a good chunk to rehab to rentals. --74.130.xxx.xxx

I've got a million, as a matter of fact 25 million. It doesn't change a thing. I'm working as hard now as I ever have. --104.6.xx.x

Nice business to pass on to my son also. --72.76.xxx.xxx

To everyone's success !!! --76.105.xxx.xx

Ahhh, one can dream! --166.130.xxx.xx

I didn't get a million, but I did get $400,000 from my parents' estate six years ago. I used it to pay off the mortgages on the nine rentals I already had. Now I have positive cash flow instead of just tax right-offs. I used the remainder and bought foreclosures here, rehabbed them, and rented them out. I used the cash flow on the ones I had to buy more. I now have twenty-four rentals, all free and clear. I'm almost 75, but love every minute of this business and plan to continue as long as I can and as long as it's so much fun. I wouldn't mind investing in something else, but I can't find anything that can beat rental real estate for return on investment. --70.192.xxx.xx

We're debt-free entirely, and we're already (Lord willing) quite set until we're very old, so the rest I would lend to a team of smart, hard-working younger people to get them rolling on their dream of house flipping. --71.175.xxx.xxx

We have no "debt" (mortgage and cars paid for), and have solar panels installed (we own them), so just monthly bills to pay. Hubby retires in 5 years... and I'll be switching to the higher paying "spousal social security" then. His pensions (work and military) and both social security checks, plus my part time job (choice, not need) should be "enough" for our needs until we have to start taking distributions from our IRAs. --72.197.xxx.xxx

With $1 million, I would invest at least three quarters of it in another apartment building in a very very good location, so no matter what happened to the economy there would still be renters wanting to rent and that given the location. The rest of the money, I would pay off all of my bills owing nothing. Then I would be foolish enough to invest maybe the remaining part in the stock market. The stock market couldn't be much better than investing in an overnight stand in Las Vegas I believe. I have always been prudent with my money with the one small apartment paid off in the year 2000 brings me approximately 2000 /month net profit and also with Social Security I really don't have to work. But I have no intentions of not working because it is an enjoyment to me. I also like to travel the globe a lot knowing to do it very inexpensively such as – – going on safari in Africa for less than $1000, driving 6 passenger van 2000 miles up East Coast of Australia, from Sydney to Carnes over six days for a cost of $36, or getting into Russia on visa that costs me $500 through AAA, but now knowing how to get same visa t into Russia for $90. So I really don't need $1 million. but I'd sure take it if it came to me free --24.251.xxx.xxx

--104.148.xxx.xxx

Art, how could you drive 36 miles along the East coast of Australia for only $36 that is mind boggling.Even using old Australian pounds. Charlie...... ..... .... ... .. . --70.215.x.xxx

Vee, I'd be a little hesitant about the British Aeronautical stuff,the other day they just opted out of the EU,didn't think far enough ahead, don't always agree with David Cameron,but this time I think he was spot on,they may have to rethink Brexit, if that's still possible. Charlie...... ..... .... ... ... .. . --70.215.x.xxx

--75.80.xx.xxx

I would start by honoring God with giving Him 10% of it as a tithe. Without that, I would not have His blessing and the other 90% would never achieve it's full potential. --75.181.xxx.xxx

On this Happy Day of Independence, I would begin by giving a little more than usual to our Mission that supports Homeless Vets. Then I would give something to my 3 kids to help free up their debts, too. Then I would look to pay cash for a nice piece of Commercial Real Estate, like a Parking Garage near downtown. And then I would rent an RV for two and visit all the National Parks, because the only call I want to answer anymore is The Call of the Road! --70.171.xx.xxx

Knowing what I know now, start with 1 mil... Real estate is good in the young beginning years with sweat equity & inflation an learning from your mistakes and the loss of sleep through the school of hard knocks.. and as you get older source out to a prop manager. But in hindsight, I would prob invest in index fund at 8% giving me a secure 80K-120K each year as history shows with a guaranteed "no headaches" from tenants and then travel the world inexpensively. --66.251.xx.xxx

There's just a lot of ways for traveling for less, I learned how to live less expensive trying to get myself through college which I ended up doing without owning when through.. One of the neat things about Mr. landlord forum here. You can ask a question about managing your apartments and get several answers within a day or two from all over the United States and Canada, and its free.. It doesn't get much better than that to help us be better landlords --24.251.xxx.xxx

BRAD --73.146.xxx.xxx

of course back then there was no Internet.Different time span but it has been a good trip.I bred Samoyed dogs and always kept Three of our own, with those three and our children's ,seven in total, you could say we had our own dog Team,Caused alot of excitement in the neighbourhood. Charlie...... ..... .... ... .. . --70.215.xx.xx

Re-Reading the post , I d probably have another heart attack ,had one about four years ago ,no pain whatsoever, just was like I had eaten a big hamburger too quickly, so watch it there???? Charlie...... ..... .... ... .. . ....... --70.215.xx.xx

By year 10 I'll have seven properties free and clear. ~ $700,000 remaining from the $1,000,000 will have been prudently investing during the 10 years. At this point, I would buy an apartment complex increasing the monthly cash flow to God knows what. My team will be in place freeing up my time go to several countries learning their languages, history, and culture. --64.74.xxx.xx