My friend is a professional poker player and by December he wants to invest $150k which is a portion of his savings. He's at a different period in his life than me, as I am pretty much broke and bootstrapping everything I have to get my internet start-up going but he also works long days at poker tournaments which I don't envy.
He's approached me to help him but since I've never been in this position to even have $10k in startup money I'm kind of confused about where we should go from here. Although he's more poker than business minded, he's got the fastlane mentality where he doesn't want to put this savings into a CD or anything slowlane. I'm twenty and he's twenty-one and we want to be well off by our mid-twenties.
I've highly considered doing commercial/apartment real estate. I used to read books like "How to Buy and Sell Apartment Buildings" thinking I could never do what the book teaches until the future but now with my friends investment I could certainly dive into this field. I think the methods that fastlaners like SteveO used are pretty risk friendly while still being lucrative. Would a bank take two twenty year olds serious to purchase a good sized apartment building? We don't really have any assets but $150k is pretty serious cash.
What do you think my friend should invest in? Should we go the commercial real estate/apartment route with me behind the wheel guiding it?
He's approached me to help him but since I've never been in this position to even have $10k in startup money I'm kind of confused about where we should go from here. Although he's more poker than business minded, he's got the fastlane mentality where he doesn't want to put this savings into a CD or anything slowlane. I'm twenty and he's twenty-one and we want to be well off by our mid-twenties.
I've highly considered doing commercial/apartment real estate. I used to read books like "How to Buy and Sell Apartment Buildings" thinking I could never do what the book teaches until the future but now with my friends investment I could certainly dive into this field. I think the methods that fastlaners like SteveO used are pretty risk friendly while still being lucrative. Would a bank take two twenty year olds serious to purchase a good sized apartment building? We don't really have any assets but $150k is pretty serious cash.
What do you think my friend should invest in? Should we go the commercial real estate/apartment route with me behind the wheel guiding it?
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