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Investment Ideas

Discussion in 'Members' Lounge' started by boostedf22, Jul 20, 2007.

  1. boostedf22

    boostedf22 dis is why im not

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    Ok I got 1340 bux saved up . Thats just from the extra money I have played with , Totally aside from the household. I want to invest the money. To make more . I dont know to much about it . I know someone here can point me in the right direction . Thanks
     
  2. pissedoffsol

    pissedoffsol RETIRED

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    see my sig
     
  3. Celerity

    Celerity Well-Known Member

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    Do that 10 times over and get a nice 3 apartment house in the nicest neighborhood you can. Learn to repair furnaces. Done.

    you have too little money to play with right now,
     
  4. pissedoffsol

    pissedoffsol RETIRED

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    200 bucks is all you need to get started, really.

    you just need to add 200 a month to it for the rest of your working life :)
     
  5. boostedf22

    boostedf22 dis is why im not

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    Werer buying a house right now . 1400 a month .

    Well I wanted to get rid of it and do something productive why my money then just blow it on bullshit , like I normally do .





    Thanks for the link ,b..... I will check it out .... Hopefully get some where.....

    Why cant you take 1500 and turn it in to 3000, take the 3k and turn it in to 6k , so on and so on .
     
  6. get_nick

    get_nick These snozzberries taste like snozzberries... VIP

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    scratch offs. invest, in scratch offs.
     
  7. Celerity

    Celerity Well-Known Member

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    Check out Turkish markets. You can easily double the money. But there is no insurance and lots of corruption.
     
  8. E_SolSi

    E_SolSi Member of the 20 nut club Moderator VIP

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    coke and whores
     
    1 person likes this.
  9. totalburnout

    totalburnout Well-Known Member VIP

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    It depends on the period of time you're looking to invest.

    Stocks out perform commodities in a 10year run as a general rule of thumb.

    B is big on gold and commodities. Real assets like real estate is a good long term buy and can prove to be great short term buys when the market is right.

    How you invest depends on your goals and the period of time you have to reach your goals.
     
  10. boostedf22

    boostedf22 dis is why im not

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    Well since I am only 24 years old. The money can sit somewhere for a while. I just have no idea where the hell to put it or what ?!?!?!

    I dont even know how much money can be made in a year from investments. I keep thinking along the lines of stocks.

    I need to do some serious reading .
     
  11. boostedf22

    boostedf22 dis is why im not

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    hmmmmm .. your joking right .......lol
     
  12. pissedoffsol

    pissedoffsol RETIRED

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    for the record, i'm into silver. i own 1 1/10th oz gold item. thats it.

    gold is up 220% in 7 years. i can't name one stock off the top of my head that has done this. i'm sure it exists, but they are few and far between, and are a hard gamble at best.

    silver has done nearly the same thing... about 220%... but its kinda peaked out right now

    and thats melt value. with melt value, gets attached intrinsic value, collector value, rarity value, and all the rest.

    [​IMG]


    [​IMG]

    real estate is good, but requires a HUGE cash flow in the first place to get into. its not the right move for the first time investor, regardless of what infomercials will tell you.
    IMO, if you can't buy a rental property at least half in cash, you can't afford to be a landlord.
     
  13. boostedf22

    boostedf22 dis is why im not

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    well I have always wanted to flip houses. Thats what I am doing here. Just going to take another year or so for the equity to get straight . Then we can sell it . I have fixed alot and installed all new flooring , granite tile, hardwood, ect. Custom tile bathrooms. Custom made cabinets , just fixing it up to sell and hopefully make 30-60k profit, buy another shit hole and do it all over. But at that rate . Its too long to wait . 5 years to sell 2 houses. We have thought about taking another loan to buy another house and do nothing but fix it up w/ a 6 month contractor load. But the only problem we see with that is if it didnt get sold in the first 6 months of buying the house. It could really hurt us making 2 house payments .
     
  14. pissedoffsol

    pissedoffsol RETIRED

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    you'll make the most profit if you can flip it in 45-60 days.

    means, you scout and close on aug 1st. augst 1-30 you do the work, you list spet 1, and its closed by spet 30th.

    any longer than that, and you are paying to keep it and losing money.
     
  15. boostedf22

    boostedf22 dis is why im not

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    yeah that short of time is too risky to take right now . Maybe by next year about this time . We can sell this house.

    Lets say it sells for 240k which I would be asking for it . We bought it for 184,900k . Now after all the BS fees and what nots. Say I buy another house for 180k . Dont do shit to it but take 40k , and buy a foreclosed or repo home. I will get a loan for that. Say no more than 120k -140k for it. Take the 40k and fix it up , and keep 10-15k aside to pay the mortage if it doesnt sell .

    Would that be a safe way to go about it ?

    yeah I know that its like gambling and nothing can be safe about gambling with money .
     
  16. pissedoffsol

    pissedoffsol RETIRED

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    240 asking
    = 235 offer
    x 7% for realtor/closing/lawyer fees ~
    16,500

    leaves you 218.

    if you buy another house for 180... X7% = = 12,600
    that leaves you with 38k profit - 12,600 to close = 25,400 to mod with to break even. on the previous sale.

    25 grand is a kitchen, really... and then you need to re-sell that one again. and the cycle continues....

    and of course, this assumes you don't OWE on the house. if you owe more than 218 on the house, you lose money.
     
  17. jamesA

    jamesA Well known pissed off telephone guy VIP

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    :thumbsdown: Well, if your luck is like mine and you lose at 50/50 chances 90% of the time...

    :werd:
     
  18. boostedf22

    boostedf22 dis is why im not

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    Everything you said makes good sense ...except the 25k kitchen... I have my own construction business. Class A . I have a shop with damn near every wood working tool imagined. I made the cabinets in this house, stain glazed them , Since I do so much sub contracting work w/ Home depot, I get grantie tops, tile , applainces at hella cheap , I can build a house if I needed to . But with no labor expense except your own , just material . Almost doubles the profit.

    Most people that flip houses always need a general contractor. So there losing 15% right off top of there spending limit. Meaning less to modify on the house. Most of the people I have seen or heard about flipping houses just subs most of the work out . Contractors arent cheap by any means , I know this because I am expensive.
     
  19. boostedf22

    boostedf22 dis is why im not

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    Mobile home that isnt sitting on a foundation isnt worth anything , around here in Virginia . Its a waste of money trying to flip a trailor.

    Thanks for the idea ,,, But Ill pass on the mobile homes. Seems like I will put more time and money in one that what it will be worth in the end
     
  20. pissedoffsol

    pissedoffsol RETIRED

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    being able to do you're own work is a huge plus... but you need to take time considerations into effect too.

    assuming your mortgage is 2k a month,
    if it takes you 3 months to do it yourself and list
    vs 1 month to contract out some stuff and flip
    you can afford 4 grand to a contractor.

    while its not much work by any means, it may be your cabinets for 4k right there... cabinets surely take a couple weeks to make and it might be worth it to sub those out or buy pre-made ones...

    time is money when you're paying on it and its sitting....
     
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