How to best invest 170k dollars??

[Rocket_queen125]

Im soon about to run into about a 170 k dollars and just looking try to find the best way to invest it, i was thinking about buying a few small houses fixn em up and reselling but not for sure Idea's please... Thanks!!

[Where is Hassan Nasrallah ?]

why don't you give to charity you prick !!

[pilferk]

Depends on what you're looking for as far as risk/reward and timeframe on cash out.

Real Estate is always a winner, but you have to be willing to ride the market a bit.  Right now, you're buying in a sellers market (meaning property values are pretty high) and you may need to hang onto those properties, maybe as rental units, to maximize your return on investment, depending on the market and what it does in the short term.  Of course, experts have been predicting the housing bubble's "burst" for almost 3 years with no actual cooling in the market at all...so, you may be able to buy the properties, fix them up, and sell them for a pretty good profit before, or even if, the market cools off.

Just make sure you hold some of that money in reseve for unexpected expenses having to do with the properties.  And try to buy in a "revitalizing" neighborhood.  You can buy a fixer upper in the wrong neighborhood and end up, even with the repairs, not realizing 100% of the materials and sweat equity you've put in simply because you've priced the property out of the median of the neighorhood.

My advice, personally, would be to talk to a financial advisor and tell them your thoughts.  They'll help you figure out a pretty sound financial plan with the money.  Just interview some advisors first, and give your thoughts on pursuing real estate investment.  If they try to stear you clear of it and into the stock market....just walk away..provided real estate is really what you'd like to invest in.

[Eazy E]

Purple Bishop to show in the 3rd race. 

[conny]

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[SLCPUNK]

Im soon about to run into about a 170 k dollars and just looking try to find the best way to invest it, i was thinking about buying a few small houses fixn em up and reselling but not for sure Idea's please... Thanks!!

It depends where you live with RE.

If you are going to "fix 'em up" and flip them....do you know how to do this? I'm not trying to bust your chops, rather I am being very serious. If you are good with your hands, hard working, and PATIENT. I'd consider flipping a home or two. There are so many variables to this: your market, being able to buy low, selling with or without a realtor (While I respect the job, I would not use one to sell a house-I'd rather keep more money), paying cash for the entire home, or financing, unforeseen expenses....etc etc etc. You are also working against a time frame if you are trying to flip. Which means, work must be performed well and FAST. Typically you'd like to get that sale before the six weeks is up and you are making a note payment. Although you have cash I'd shy away from buying a home all cash. You'd be pretty glum if you lost money on that thing, plus having it all tied up is no good.

Also if you sell before two years you must pay capital gain taxes. If you hold for two years, obviously you'd want to rent them  (having somebody pay the mortgage for you) then sell after two years, hoping for appreciation. If you DID USE all cash (which I would not) and rent the house you may be asking to lose all your money. All it would take is one slip and fall and a crafty lawyer and that house would be sued out from under you. Lawyers will scan through and see what homes are owned outright and solicit tenants to sue the landlords. If you insist on buying a home cash, strip the equity away by forming your own corporation, then placing a lien against your own home. Maybe the home is worth 140k, and you put a lien against it for 135k, a lawyer would keep on looking if he/she/it saw that.

If you are not handy, and you are in a hot market I would invest in pre-construction. I've seen people purchase pre-construction homes and have them be worth 50k more when they were done. Just wood and brick appreciating because people want it. That's it. No hard work, worrying about tenants, hanging sheetrock, painting, plumbing, electrical...updating....bullshit. You could buy pre-construction, then rent it for two years, then sell. No taxes, and a handsome profit. But again, it depends on where you live. Dallas for example, ain't doing so well compared to West Palm beach. However, with that kind of money, you could do some research and fly a couple hours away to a hotter market if you were so inclined.

So...not to scare you off, but there is a lot to think about if you are going to plunk some cash down on a home(s). Whatever the hell you do, don't rush. You have a good chunk of change. I've seen guys with a lot less than that turn it into a million, and I've seen guys with more, fuck it up. Put it in the bank, and READ. I'd form a LLC if you are going to do RE investing/landlording..whatever. Read about that, read about tax writeoffs, read read read. Don't let any slick RE agent explain how you have to 'act now', or 'prices will only go up'. Same with any financial advisor. There are good ones and bad ones out there.

Read  a book called "Take on the street" by Arthur Levitt (former chariman of the SEC), and Landlording by Leigh Robinson. Read about LLCs and how they can help you.

Whatever you do, don't rush, think clearly and don't party the money away. You must be honest and understand your physical and (knowledge) mental capabilities when it comes to investing. Also remember there are a million and one people out there that are waiting to steal that money from you with promises of making you a millionare. Even with money, there isn't always easy money. Understand? It will still take work, time, and a bit of luck. The question left is, what are you going to do now?

[MCT]

Invest in some believability. That's my advice.

[sandman]

buy real estate. many markets won't burst. and some have barely gone up yet. deleware and iowa are two great markets to get into.

philly is also a strong market with lots of rental possibilities. and new properties are real estate tax free for 10 years. you could break even for a few years by renting and properties have been increasing at about 20% per year.

put as little down as necessary to limit your risk. then go section 8 (or whatever they're calling it these days). you get a guaranteed paycheck every month while the property value soars. 

[erose]

Buy gn'r memorabilia, if not get fuck out of this place with your stinkin' money.

[SLCPUNK]

Invest in some believability. That's my advice.

haha, dumb me.....

Well if he really did get the 170k, then good luck.

If not...then...good luck....

[dustNroses]

purchase a tenanted apartment with a rent return of more than $1 per thousand you spend, if you spend $150 000 then you want at least $150 per week rent. It may work different in australia to where you are, but that is my guide line. It works very well here.

[Surfrider]

Im soon about to run into about a 170 k dollars and just looking try to find the best way to invest it, i was thinking about buying a few small houses fixn em up and reselling but not for sure Idea's please... Thanks!!

My advice is to get some advice other than from people on a Guns N Roses board.? No offense to those who gave good advice.

[MCT]

Invest in some believability. That's my advice.

haha, dumb me.....

Well if he really did get the 170k, then good luck.

If not...then...good luck....

Hey man, it's entirely up to you how you spend your time. But like you insinuated, it is possible that he's getting a major windfall of cash. And yes, good luck if that's so. If not...good luck! I agree. I just don't believe him.

[2NaFish]

go to a financial planner. If you want to know the names of the line-up on the Hollywood Rose demo there are very few people on earth better than us here. If you want to invest money go to an IFA, or whatever their called in the states.

[Rocket_queen125]

buy real estate. many markets won't burst. and some have barely gone up yet. deleware and iowa are two great markets to get into.

philly is also a strong market with lots of rental possibilities. and new properties are real estate tax free for 10 years. you could break even for a few years by renting and properties have been increasing at about 20% per year.

put as little down as necessary to limit your risk. then go section 8 (or whatever they're calling it these days). you get a guaranteed paycheck every month while the property value soars.?

IOWA ha im from there

[Rocket_queen125]

Invest in some believability. That's my advice.

hmm i will think about that thanks for the advice!! whats the ticker for that?

[Walk]

Get some preferred stock that pays a solid dividend. I would avoid real-estate now.

[MCT]

Invest in some believability. That's my advice.

hmm i will think about that thanks for the advice!! whats the ticker for that?

MCT

[SLCPUNK]

Invest in some believability. That's my advice.

hmm i will think about that thanks for the advice!! whats the ticker for that?

MCT

closed at 49.50 share..............

[SLCPUNK]

I would avoid real-estate now.

hahaha......


PS....hahahahahahaha!!!!!!!!!