Hypothetical Monetary Question
01-07-2005, 07:16 PM
#11
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No! Become a slumlord. Buy as many crappy little houses as you can and rent them to anyone who wants to live there! If they tear it up, it was junk to begin with, so who cares? It's free money, and you don't have to do anything.
Okay, so that's a little extreme. But real estate is the answer.
And, BTW, there is no such thing as a "Financial Adviser". They are all ******* salesmen, and all they want is your money. I have seen some wealthy people get absolutely fucked by "Investment Counselors". I worked with a "full service broker" for a while back when I first started investing, and I learned in a hurry what they were all about. If you choose to invest in stocks, and you should, just do a little homework and do it yourself.
Okay, so that's a little extreme. But real estate is the answer.
And, BTW, there is no such thing as a "Financial Adviser". They are all ******* salesmen, and all they want is your money. I have seen some wealthy people get absolutely fucked by "Investment Counselors". I worked with a "full service broker" for a while back when I first started investing, and I learned in a hurry what they were all about. If you choose to invest in stocks, and you should, just do a little homework and do it yourself.
01-07-2005, 07:18 PM
#12
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Yea I wouldn't even think about talking to an idiot like that. A guy that used to work for me, total moron... he became a financial advisor LOL
The issue with real estate is that 200k doesn't really buy a lot of property these days... anywhere.
The issue with real estate is that 200k doesn't really buy a lot of property these days... anywhere.
01-07-2005, 07:26 PM
#14
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Originally Posted by phinsup' date='Jan 7 2005, 08:18 PM
The issue with real estate is that 200k doesn't really buy a lot of property these days... anywhere.
True, that. Even here in central Virginia, it's getting hard to find anything decent under $100k. I suppose some inner-city repo's might be had for a good bit less...
01-07-2005, 07:29 PM
#15
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Originally Posted by 1988RedT2' date='Jan 7 2005, 08:26 PM
True, that. Even here in central Virginia, it's getting hard to find anything decent under $100k. I suppose some inner-city repo's might be had for a good bit less...
Yea my bro in law has two places in Middleburg. One is a townhouse and he paid more then 200k.
That said, let's say you had the opportunity to buy an established business for around that amount?
01-07-2005, 07:38 PM
#17
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Originally Posted by nightwolf_4_98' date='Jan 7 2005, 08:30 PM
my aunt lives in nebraska and has been tryin to get me an some of the family to move up there, theres some huge! place's there for really cheap, there was even a 3 for 1 deal for 75K lol
Yea I drove through Nebraska on the way to FL... no thanks.
01-07-2005, 07:44 PM
#18
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i know someone who buys houses in bad areas, he fixes them up with cash he makes because he needs a way to dispose of cash and fixing a house is a perfect way to do it- pay all the contractors cash
then he rents them out to people on welfare, gets the rent right from the government so he knows he gets paid.
then he rents them out to people on welfare, gets the rent right from the government so he knows he gets paid.
01-07-2005, 09:33 PM
#19
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Real estate in Mississippi is a good investment right now. you can get a decent amount of acerage for that ammount still.
Dispurse it among multiple mutual funds. The stock market is low right now, but is about to rise. If you buy into a few mutual funds, you could come out smelling like roses a few years from now.
or you could pay off any loans you have, and enjow life debt free. Put the rest in an aggresive mutual fund and watch it grow.
Dispurse it among multiple mutual funds. The stock market is low right now, but is about to rise. If you buy into a few mutual funds, you could come out smelling like roses a few years from now.
or you could pay off any loans you have, and enjow life debt free. Put the rest in an aggresive mutual fund and watch it grow.
01-07-2005, 10:42 PM
#20
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I would put 30% of it away in some form of secure funds, say bonds or GICs or soemething. 60% towards downpayments on mortgages for houses and apartments. Ones that aren't too flashly, in good shape, in areas that are most likely going to go up in value.
I would then fix them up if htey need to, rent them out to cover mortgage payments + maybe 5% profit. Bank on it going up in value, say 20+% (u have to make something, those ******* real estate agents take 3 to 5% already), turn around buy more apts, and keep using profits for downpayment on a next apt/house. If in the end the units/houses you buy don't go up in value, you are esentially paying off your mortgages free of charge, so buy the time the annuity is done you have 200,000+ for each house/apt you had a mortgage on.
Then you'd be real rich. Oh and 10% goes towards a nice FD, and new wardrobe.
I would then fix them up if htey need to, rent them out to cover mortgage payments + maybe 5% profit. Bank on it going up in value, say 20+% (u have to make something, those ******* real estate agents take 3 to 5% already), turn around buy more apts, and keep using profits for downpayment on a next apt/house. If in the end the units/houses you buy don't go up in value, you are esentially paying off your mortgages free of charge, so buy the time the annuity is done you have 200,000+ for each house/apt you had a mortgage on.
Then you'd be real rich. Oh and 10% goes towards a nice FD, and new wardrobe.