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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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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.
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.
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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Where?
