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08-22-2007, 08:12 PM
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Member
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Join Date: Aug 2007
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Where should I invest $15,000??????
I was going to buy a piece of property. Is that a good investment?
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08-22-2007, 08:27 PM
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clear the way!
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Join Date: Jan 2007
1,678 posts, read 1,140,782 times
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Where?
Quote:
Originally Posted by NOTSNOTTY
I was going to buy a piece of property. Is that a good investment?
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Where is the property? |
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08-22-2007, 08:28 PM
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Join Date: Aug 2007
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Whidbey Island, Washington State.
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08-22-2007, 08:28 PM
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Senior Member
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Join Date: Jun 2007
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It would depend on the location, size and type of property. Also, how the market is in your area. If the price drops, could you afford the loss?
buying real estate can be a very tricky business. you really need to know a lot about what you are doing. You might make a little on a fast turn around or you might be stuck with paying taxes on it for years with no hope of selling it.
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08-22-2007, 08:34 PM
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Where would you invest $15,000.
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08-22-2007, 09:24 PM
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clear the way!
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Join Date: Jan 2007
1,678 posts, read 1,140,782 times
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Do It.
Well I'm on the east coast so I don't have a local vibe on it. But it looks like a good spot your about 1 1/2 away from Seattle and 2 2/12 from Vancouver B.C. just looked at realtor.com. didn't find whidbey island but found some other islands and the lowest I found was about $70K for 0.89 acre of land. Yeah I'd say do it.
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08-22-2007, 09:30 PM
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Senior Member
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Join Date: Dec 2006
Location: Weston, FL
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For the meantime I would park it in the highest return CD available until you have had a chance to study the market.
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08-22-2007, 09:38 PM
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Senior Member
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Join Date: Jul 2007
Location: California
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If you haven't contributed to your IRA... I would do that first then invest it. OR I'd put it in a reg. MM account and put it in a short term CD (6 months maybe) until you can figure out what you want to do with it. I don't know what your real estate market is like where you are so I can't comment on that.
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08-22-2007, 09:45 PM
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Political Deviant
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Join Date: Jul 2007
Location: SanAnFortWAbiHoustoDalCentral, Texas
791 posts, read 597,107 times
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Fidelity: SPRTN TOTAL MKT INDX INVESTOR CLASS
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08-22-2007, 09:58 PM
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Moderator
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Join Date: Apr 2007
Location: Sacramento
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You have to consider the cost of purchase in real estate. A $15 K investment involves a certain amount of closing cost in addition to the purchase price. Then you need to consider the cash flow, or income vs expenses on a monthly basis. Finally, you need to consider the risk of vacancies and the cost of asset disposal.
I tend to go with more liquid investments. Vanguard has the lowest cost mutual funds, so I would select from their offerings, depending upon my risk tolerance and timeline for keeping the money invested.
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