|Any suggestions of where to invest $50k in this economy?||Bruno S|
Mar 7, 2003 5:59 PM
|I have the money in cash sitting on a savings account that only gives 2% or less a year.|
|re: Any suggestions of where to invest $50k in this economy?||Alpedhuez55|
Mar 7, 2003 6:11 PM
|If you look about 7 posts dows, there is a Nigerian man who can offer to double your money selling gloves to Walmart ;)
|re: Any suggestions of where to invest $50k in this economy?||Bruno S|
Mar 8, 2003 10:21 AM
|Thats where the money came from. I invested with him $500 and two days later I got the $50K.|
|empacher6seat Hawaii vacation fund (nm)||empacher6seat|
Mar 7, 2003 8:00 PM
|I was thinking the Cory's Kids College Fund... (nm)||cory|
Mar 7, 2003 8:51 PM
|The Me Dot Org Home for Wayward Women...||Me Dot Org|
Mar 7, 2003 11:17 PM
|...now if I could just find some Women who want to go wayward...
Seriously, I wouldn't make any major moves with your money until you see how the next two months shake out, unless you are a definite bull or bear on what's going to happen. A time of great uncertainty is always a good time to bet...if you're right.
|re: Any suggestions of where to invest $50k in this economy?||CJ838|
Mar 8, 2003 4:44 PM
|Boy, if you're asking for financial advice on any message board you must really be desperate. Don't beleive anything anyone says here. Go seek professional, face-to-face advice.
Mar 10, 2003 10:07 AM
|If you can handle the risk and maintenance of rental properties, long term that might work for you.
Take $10k each and buy 4 properties with that down. Keep $10k for surprises and negative cash flow, etc.
Long term, assuming initial cost of $100k each, the renters buy the properties for you, if you can charge enough to make them cash flow.
what other investments have other people paying the bulk of the cost?
|Think twice about rental property.||OldEdScott|
Mar 10, 2003 10:38 AM
|Unless you're willing to do the maintenance work yourself, and are confident of finding stable, long-term tenants, you could well find rental property a black hole sucking money from your pocket instead of the cash cow many people think it is. It can also be a HUGE pain in the ass.
I've had absolutely no success making money with the five units I own, despite the fact that I (at all hours of the day, night and weekend) do repairs and maintenance myself. This past year, whatever small profit I was finally looking to make got wiped out when two tenants died within a week of each other in December, owing me rent and shutting me down till their families cleared their stuff out, etc. Now I'm spending $2000 a unit to repaint, recarpet, etc for new tenants, and I'm still shut down till that's finished.
It's a nightmare I hope to unload as soon as the housing market around here picks up.
Mar 10, 2003 10:55 AM
|Where are you, anyway? Might vary by location...
I agree, though, rentals are not for stick it in and walk away invesment.
Where do you stand, considering tax consequences and appreciation? Still behind?
|I thought you were a communist||moneyman|
Mar 10, 2003 11:04 AM
|And the ownership of private property was morally repugnant to you? Of course, it may be repugnant because it's a lousy investment.
Maybe I have you confused with someone else. Hmmmm.
|maybe the problem is the free rent nm :-)||DougSloan|
Mar 10, 2003 11:10 AM
|An enlightened commie landlord!||OldEdScott|
Mar 10, 2003 1:08 PM
|Buy dilapidated houses and fix 'em up, rent 'em reasonably as low-income housing. Very progressive. And I don't feel a bit guilty about it, since (even accounting for tax breaks and appreciation) it resembles nothing so much as charity work.
Have to admit, my Red comrades look at me with slant eyes when I talk about my 'tenents.'
Mar 11, 2003 10:39 AM
|I've been hesitant to buy another rental in this economy.
It seems the people who would be renting are now buying with these low rates and all. I see for rent signs all over the place. Luckily, we have great, fairly long term tenants and I don't have to worry right now.
I say buy a res. lot or two, build a spec. home and sell that sucker for decent profit. Willing to bet it wouldn't stay on the market for long but its all predicated on local market of course.
Good luck and if you're still relatively young I think you would be crazy to give up on the market, especially now. Its buying time baby. Just my humble two cents.