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What property investment strategy would you use if you could purchase property with cash you obtain through inheritance?

Hey and welcome back to What Would Ryan Do? The series where you pose a question at me and I tell you what I think about it. What I would potentially do in the situation. Today's episode, we're going to be talking about what strategy is best – or what would I choose – if you're buying properties in cash. Let's read over the question and then we'll go through it. Remember, What Would Ryan Do? It's a bit of fun, it's a way to get someone else's perspective on your situation.

I tend to think a bit outside the box, outside what normal people think. So, hopefully, my perspective can help you, but it's definitely not financial or mortgage advise. So always seek professional advise that is my #disclaimer.

Alright, here is the question:

"I was wondering what strategy you would use if you had the opportunity to buy a property outright with cash. (e.g. received an inheritance)."

This is an absolutely great question and what a good position to be in. Obviously, my condolences for whoever has passed away that you've received this inheritance from. That is definitely not fun, but being in a position where you have a lot of cash gives you a lot of different options to choose from. Now, depending on whether you're working or not can depend on whether you want to take that cash, borrow some money as well and spread that as far and wide as you can. Or, maybe, you just want to invest with this cash and you don't want to acquire any debt.

Let's talk about those 2 different scenarios and what I would do in each scenario. Remember, we're talking about me. I'm not giving you financial advise, but hopefully, through talking about this, it can give you some ideas for your situation.

So. The first thing that I always go to, no matter what the question is, about whatever investment strategy or whatever situation is, is what is your end goal? What are you trying to achieve in the end and how can you get there? So rather than saying, "I have $500,000 cash." or "$1 million cash." or however much cash you have, “Should I buy X property or Y property? Should I use this strategy or that strategy?” Rather than saying that, you need to rephrase the question. This question is probably not the best question to ask. The best question to ask is, "I have this amount of money. I have this goal.

What is the best strategy to get me towards this goal?" So, having your own goal is very important. So that might be a passive income of $60,000 a year. Maybe a passive income of $100,000 a year. Maybe $30,000 a year. Maybe you just don't want to lose any money and you want to park that money and keep it safe. It's really up to you. It depends on your situation and what you're trying to achieve.

Most people that I speak to would love, love, love, love to replace their income. And I think that is a great goal. A lot of people want to far exceed their income, which is achievable, but just unrealistic for a lot of people. So if you're earning $50,000 a year and your goal is to earn $1 million a year in passive income, you might want to start with a goal of just replacing your initial income first and then work from there.

So, step number 1 is work out your goal. So, for me, goal income for me is about $60,000 a year in passive income. I can survive off that. My family can survive off that. We can live a fairly happy life and not have to worry about money. Now, once I got that, I wouldn't stop working and running business and things like that, but that is the goal for me. So I'm going to look at that. If I was buying property in cash, that would be my initial thing.

How can I take this cash and as easily as possible, with potentially the least risk as possible, achieve my goal of $60,000 a year in passive income. So, depending on how much cash I had,