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Old 07-25-2009, 06:34 PM   #61
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Be aware even your own family might think they should get some of the money. Watching a family member lose a home or not have money for college is hard. It isn't his job to save them. Money is finite. Have him divide it into categories for his own use. How much each for a future home, living in college, saving for furniture, cars, retirement, helping family and friends, charity, insurance, motorcycle, other toys. He will see how quickly he can spend it all and if he spends here he can't spend there.
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Old 07-27-2009, 02:40 PM   #62
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depending where he is, buy a triplex cash near a college, live in one unit.

learn landlording.

property manage it out when he moves to a different town, do small equity take out and buy another triplex there, live in one unit...keep going from town to town....keeping equity above 50% all along.

oh yeah, the best part, only rent to nursing students ; - )

ramp up standard of living assuming the well will run dry, tomorrow.

sure you are living maybe in borderline accomodations, but the chicks see a sports fun type guy who is ALSO a slum landlord, and they are then thinkin they can have their cake, and eat it too
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