clothes you sport and wouldn't?
- Thread starter Tragedy
- Start date
buying an investment property is the best thing to do if you are still living at home and arent too old.
anyway with that 15k I think you should keep 5k in a savings account (if you already have one get another one with the best rate) and with that 10k don't invest short term you might as well put it on the roulette table on red or black. Do some research yourself for a long term investment, if it was me I'd invest in a company that provides a service and has steady growth.
anyway with that 15k I think you should keep 5k in a savings account (if you already have one get another one with the best rate) and with that 10k don't invest short term you might as well put it on the roulette table on red or black. Do some research yourself for a long term investment, if it was me I'd invest in a company that provides a service and has steady growth.
depending on where you live owning a house in this economy may not be a good thing what so ever!
Sure y ougood borrow against what the house is worth but you cant sell it for what its worth in this current economy. Will it pick up im sure it will, but at this moment in time buying a house isnt the most wise way to liven up a portfolio
Sure y ougood borrow against what the house is worth but you cant sell it for what its worth in this current economy. Will it pick up im sure it will, but at this moment in time buying a house isnt the most wise way to liven up a portfolio
as long as area, price, size of house, condition of house and/or you plan on staying there awhile and riding out economy without completely trashing it.
I mean im currently under contract to buy a house but im not doing it for investment purposes but strictly personal reason. And after touring house after house after house I can tell you not many people are getting what the appraisal values are before upgrading and making house sellable, much less straight move in without upgrading or making nicer. I lucked out with what I found and even then we took inspection tour on friday and there is about $10000 worth of work (electric and plumbing so it directly effect contracts) they still have to do for me if they want me to buy it and thats at a purchase price about $20000 below appraisal already.
I mean im currently under contract to buy a house but im not doing it for investment purposes but strictly personal reason. And after touring house after house after house I can tell you not many people are getting what the appraisal values are before upgrading and making house sellable, much less straight move in without upgrading or making nicer. I lucked out with what I found and even then we took inspection tour on friday and there is about $10000 worth of work (electric and plumbing so it directly effect contracts) they still have to do for me if they want me to buy it and thats at a purchase price about $20000 below appraisal already.
sorry to hear that.
I'd say it would be slighty different from here to the US so I can't speak on that. However, here we have many viable options for investment properties. Such as negative gearing. Meaning if you take out a loan for say 800k, you can just pay the interest for say 5 years and with our taxation system after 5 years you have not paid a cent of your own money, yet the value of the property has increased and if you sold it you would make a profit. I think Canada has a similar system to this. here for more info http://en.wikipedia.org/wiki/Negative_gearing_(Australia)
The purpose of this, if you are a first investment home buyer, is to basically show the bank you can manage the loan so therefore on the next one they will give you alot more, and so forth.. Safe way but more for the long term.
I'd say it would be slighty different from here to the US so I can't speak on that. However, here we have many viable options for investment properties. Such as negative gearing. Meaning if you take out a loan for say 800k, you can just pay the interest for say 5 years and with our taxation system after 5 years you have not paid a cent of your own money, yet the value of the property has increased and if you sold it you would make a profit. I think Canada has a similar system to this. here for more info http://en.wikipedia.org/wiki/Negative_gearing_(Australia)
The purpose of this, if you are a first investment home buyer, is to basically show the bank you can manage the loan so therefore on the next one they will give you alot more, and so forth.. Safe way but more for the long term.
MY HOUSE IS IN CALIFORNIA. I THOUGHT ABOUT AN INVESTMENT PROPERTY BUT I FIGURED IT WOULD BE EASIER TO PULL OUT MY MONEY FROM INVESTMENTS WITH A PENALTY IF I HAD TO RATHER THAN TRYING TO SELL A HOUSE IN AN EMERGENCY. OUTCAST THE 15K IS ALL FOR INVESTMENTS, I HAVE A SAVINGS ACCOUNT. WHAT INVESTMENTS SPECIFICALLY WOULD YOU RECCOMEND? I HAVE HEARD ABOUT MONEY MARKET ACCOUNTS...
oh not sorry for me, shit im getting a house thats been completely remodeled including a kitchen worth at least 10k, new hard wood floors throughout house, new electric, new sewer all for well well below apprasial value, sucks for current owner, but thats the ecenomy right now, meaning thats why its not wise to invest via home ownership right now.
@SCARY1 I FEEL YOU ON THAT BUT LET ME PUT IT LIKE THIS. THE PRICE OF SOME CLOTHING IS ENOUGH TO WHERE IT IS AN INVESTMENT. J'S ARE $150 AND UP. MOST JEANS ARE OVER $50 A PAIR. THIS ALL ADDS UP. NOW TAKE THE TOTAL WORTH OF SOMEONES WARDROBE FOR THE YEAR OR EVEN THE MONTH AND SOME PEOPLES WOULD EXCEED THE PRICE OF INVESTING.
ok take the price you spend on gas a year for your car...is that investing?
How about what you spend eating out...is that investing?
those are additions to neccesities. sure they dont need j's but rather prefer them over payless....either way shoes are neccesity
sure eating out is alot more costly then eating at home, but again in end eating is a neccesity.
what you are claiming as foolish investments are nothing more then extra spending on neccesity.
dont get me wrong I understand what you are saying, but using the word investment is completely false in thise thread.
How about what you spend eating out...is that investing?
those are additions to neccesities. sure they dont need j's but rather prefer them over payless....either way shoes are neccesity
sure eating out is alot more costly then eating at home, but again in end eating is a neccesity.
what you are claiming as foolish investments are nothing more then extra spending on neccesity.
dont get me wrong I understand what you are saying, but using the word investment is completely false in thise thread.
trust me, put that 5 aside and start with only 10. Its always better to start with less than you had planned for, that way if anything goes bad you won't be like 'oh shit..15k' and stress out. If you don't want to put that 5 away, better off taking the wife/kids/girl on a relaxing holiday, it will give you some time to contemplate what you wanna do with that 10k and you will make a better decision.
Money markets are safe, but you won't get as much.
If it was me, I'd go with common stocks investing in a company because the high return would give me a hard on.
Money markets are safe, but you won't get as much.
If it was me, I'd go with common stocks investing in a company because the high return would give me a hard on.
