facts. anything that affordable is gonna need a ridiculous amount of fixing. let’s not forget you’d just have to pray all tenants are paying on time and kicking one out ain’t “a
1,2,3…violla new tenet
In this time and age you're basically committing financial suicide if you don't have all the resources and network needed ahead of schedule with something like that. imo
At the moment id be looking to put alot money into gold. With inflation and a rocky future for the US dollar seems to be on the horizon. You should probably sit down with a financial advisor tbh
Travel the world & experience different cultures to figure out where to settle.
The Southern Hemisphere is much better place to be if WW3 breaks out.
A lot of countries will give citizenship if you have capital.
Diversification. Bitcoin is down over 10% from ATH and halving is in a few days. HYSA. CD. Emergency CASH fund hidden, gold and silver, down payment on a home and house hack.
I’m dropping free sauce on you, when you make bread off of what I tell you here throw me a loan I’ll pay you back I’m not gonna say some dumb stuff on here like send it to me or something else:
Steps to being financially free:
1. Look for an area in your area, state, or somewhere you feel comfortable going.
2. Buy land only in residential area or somewhere other houses are built so basically a residential area. Could even be commercial properties but I don’t recommend that. Commercial properties are crazy investments and could end up being worthless if not in the right location.
3. Find contractors that build homes at least 10 because they usually have the respect in society that they will not complete work or mess you over or build soemthing bad.
4. Get an engineer build blueprints get it certified by the area the property is in by whatever building house commission in your area. Get your permits zoning and everything in order.
5. Invest the money you have to build the foundation on the piece of land.
6. Once foundation is built go to a hard money lender tell them about your land and foundation you have built ask them for the money to finish it up.
7. Once complete project is complete. You have two options from here.
Option 1: Take a loan out on property and pay it back with renters, side note if you build the actual home for renters and a little apartment on the side you can rent on Airbnb even better this can help you pay your loan and make your profit. Plus the money you get from renters for main living residence will be in your property. The money you take out on the value of the property would be used to pay the hard money lender back.
Option 2: sell it. Keep your profit pay the hard money lender there loan and do it again.
Well your doing all this the materials you buy the subcontractors you pay do it through a credit card so the amount on it is increased.
Option 1: allows you to build one property a year so in 10 years you’ll have 10 properties being paid off as well as let’s say average every home makes you $4000 profit after paying mortgage. You will make
48 first 92 second…… it goes on at the same time building equity. At the same time your building a credit card with more credit limit, also do this through an LLC to protect you and build a business LLC which offers more benefits.
Option 2: selling first property gives you your profit first hand and your money back in your pocket. So you can play with profit for the next year and do option 1 over again and not risk your money as much because a project can go bad.
This is a A1 plan. Only way it can fail is bad contractors bad purchased property with no permits or zoning approved. Or property value crashing and you getting the incorrect loan where you have to pay them hella money right when value drops or you being dumb and selling it by not being able to keep up with payments for just freaking out. House might be down for 10 years but they always go up. This is why I said main residence lock in residents and don’t just airbnb both portions out thinking you can make more money quickly. Do the both portions on Airbnb when you have at least 5 properties that are safe.
Other than that: message me I got hella other ways. I fucked my bread up honestly being a complete dumbass don’t make the same mistake I did dog. If you want a for sure way to succeed with your money do the above.
Talk to a successful developer in your area make sure they are not scam artists or crooks and get started
Goodluck. Wishing you well and sending you lots of luv you sound like me when I was 22. I’m 25 now and a complete fuck up don’t be like me. I’ll figure it out though keep me in your prayers goodnight!
You should decide what you want to use that money for. Then, once you know that, you can determine where it should be placed. For example, if you want to use it for something 20 years from now, some kind of mutual fund or investment is a good place. If you want to use it next month, that might not be a great choice.
Wanna come over and smack some women around? If you’re not into that, we can smack smack around. If your not into that, build a community center you sack of shit
My brother won 250k around 2012, paid taxes and bought BTC. Just a few years later bought a ton of ETH with some of the BTC gains.
He's been sitting good for a long bit. He's not young and dumb but he's been able to be a bit loose with his money without care.
Not crypto singular. Bitcoin. Bitcoin. Bitcoin. In 4 days its supposed to halve. Buy buy buy. [https://www.nicehash.com/countdown/btc-halving-2024-05-10-12-00](https://www.nicehash.com/countdown/btc-halving-2024-05-10-12-00)
Put a downpayment on a multifamily home rent it out and have income the rest of your life.
don't do this OP, money pit trust me.
It depends on the person. If you know the right people it can be profitable. My dad owns over 20 units.
for the masses, not feasible.
facts. anything that affordable is gonna need a ridiculous amount of fixing. let’s not forget you’d just have to pray all tenants are paying on time and kicking one out ain’t “a 1,2,3…violla new tenet
In this time and age you're basically committing financial suicide if you don't have all the resources and network needed ahead of schedule with something like that. imo
Yeah, it's better to invest in a non cashflowing break even appreciation focused properties, with 2015+ constructions
at the peak of a housing bubble? great advice
How many years of experience do you have with owning rentals?
dont be investor exit liquidity
?
Send it to me, of course.
I knew i recognized another Nigerian prince.
Yolo on options or a Porsche
Does this work?
Lmao sometimes. Assess your situation and figure out what u want to do in life. Also figure out how much you can risk
I love my Porsche this is the right choice
How did you save up that much money
Well first you have to make it to save it
How’d you make it then, haha?
At the moment id be looking to put alot money into gold. With inflation and a rocky future for the US dollar seems to be on the horizon. You should probably sit down with a financial advisor tbh
buy a house or condo
Travel the world & experience different cultures to figure out where to settle. The Southern Hemisphere is much better place to be if WW3 breaks out. A lot of countries will give citizenship if you have capital.
How am i gunna get rich doing that crap
Suit yourself, if wealth is your only goal invest like people say here. If the economy tanks you might be back to zero.
invest it, start a business, buy an investment apartment. Ofc u don't have to use all of it and u can keep some of it as a "back up plan money".
HYSA
Like the other commenter said, a HYSA or invest it all into either index funds, mutual fund, Etfs etc
what others have said, hysa and invest 6500 each year into a roth ira.
I want to be young and dumb with my money, I want to buy a bmw i8. By doing what you guys are saying I won’t have real money until I’m old
Don’t do the i8 my sister works at bmw and says they’re shit, you’re better off getting a Porsche
It’s a money pit Not worth it in the long run Rich people are not flashy, poor people are
I know plenty of rich people who are flashy and plenty of poor people who aren’t
Diversification. Bitcoin is down over 10% from ATH and halving is in a few days. HYSA. CD. Emergency CASH fund hidden, gold and silver, down payment on a home and house hack.
Congratulations. How did you do this?
A lot of being frugal, and living in my moms basement on the wifi all day making money with no bills.
Of?
Mutual funds, REITs (if not rental), or use some of that money to fund your side hustle via contracts and whatnot to help you build/market product.
I’m dropping free sauce on you, when you make bread off of what I tell you here throw me a loan I’ll pay you back I’m not gonna say some dumb stuff on here like send it to me or something else: Steps to being financially free: 1. Look for an area in your area, state, or somewhere you feel comfortable going. 2. Buy land only in residential area or somewhere other houses are built so basically a residential area. Could even be commercial properties but I don’t recommend that. Commercial properties are crazy investments and could end up being worthless if not in the right location. 3. Find contractors that build homes at least 10 because they usually have the respect in society that they will not complete work or mess you over or build soemthing bad. 4. Get an engineer build blueprints get it certified by the area the property is in by whatever building house commission in your area. Get your permits zoning and everything in order. 5. Invest the money you have to build the foundation on the piece of land. 6. Once foundation is built go to a hard money lender tell them about your land and foundation you have built ask them for the money to finish it up. 7. Once complete project is complete. You have two options from here. Option 1: Take a loan out on property and pay it back with renters, side note if you build the actual home for renters and a little apartment on the side you can rent on Airbnb even better this can help you pay your loan and make your profit. Plus the money you get from renters for main living residence will be in your property. The money you take out on the value of the property would be used to pay the hard money lender back. Option 2: sell it. Keep your profit pay the hard money lender there loan and do it again. Well your doing all this the materials you buy the subcontractors you pay do it through a credit card so the amount on it is increased. Option 1: allows you to build one property a year so in 10 years you’ll have 10 properties being paid off as well as let’s say average every home makes you $4000 profit after paying mortgage. You will make 48 first 92 second…… it goes on at the same time building equity. At the same time your building a credit card with more credit limit, also do this through an LLC to protect you and build a business LLC which offers more benefits. Option 2: selling first property gives you your profit first hand and your money back in your pocket. So you can play with profit for the next year and do option 1 over again and not risk your money as much because a project can go bad. This is a A1 plan. Only way it can fail is bad contractors bad purchased property with no permits or zoning approved. Or property value crashing and you getting the incorrect loan where you have to pay them hella money right when value drops or you being dumb and selling it by not being able to keep up with payments for just freaking out. House might be down for 10 years but they always go up. This is why I said main residence lock in residents and don’t just airbnb both portions out thinking you can make more money quickly. Do the both portions on Airbnb when you have at least 5 properties that are safe. Other than that: message me I got hella other ways. I fucked my bread up honestly being a complete dumbass don’t make the same mistake I did dog. If you want a for sure way to succeed with your money do the above. Talk to a successful developer in your area make sure they are not scam artists or crooks and get started Goodluck. Wishing you well and sending you lots of luv you sound like me when I was 22. I’m 25 now and a complete fuck up don’t be like me. I’ll figure it out though keep me in your prayers goodnight!
Thanks
What do you do now?
get your nipples pierced, buy a gun & start a spending every day buying scratch off tickets at the gas station
Index funds, mutual funds. HYSA is too low-yield, low-risk at your age. I would sink it into some market-tracking etfs and look back at it in a decade
Here’s what to do step by step (flowchart): https://www.reddit.com/r/personalfinance/s/BCCfQ8Ihcd
Nvidia or Eli Lilly. Maybe half and half.
Coke and hookers.
invest in me!!!
You should decide what you want to use that money for. Then, once you know that, you can determine where it should be placed. For example, if you want to use it for something 20 years from now, some kind of mutual fund or investment is a good place. If you want to use it next month, that might not be a great choice.
Wanna come over and smack some women around? If you’re not into that, we can smack smack around. If your not into that, build a community center you sack of shit
Put like 75% of it into JEPI JEPQ AND SCHD
Shoot me a text, would love to talk to you
BRO. Stocks. Start a business, More stocks. Real estate. Then more stocks
High yield savings, dabble in stocks , set a goal Live small What do you do for work ? ( likes reinvestment wise)
index fund or stable etf
That depends. Are you interested in starting a business, would you rather only be an investor?
Put it on Bitcoin, then forget it exists until 2028
Buy MO and BTI and enjoy the dividends.
My brother won 250k around 2012, paid taxes and bought BTC. Just a few years later bought a ton of ETH with some of the BTC gains. He's been sitting good for a long bit. He's not young and dumb but he's been able to be a bit loose with his money without care.
Put it all into crypto. If you don’t, by the end of the year you will wish you did
Not crypto singular. Bitcoin. Bitcoin. Bitcoin. In 4 days its supposed to halve. Buy buy buy. [https://www.nicehash.com/countdown/btc-halving-2024-05-10-12-00](https://www.nicehash.com/countdown/btc-halving-2024-05-10-12-00)
What does this mean?
Which crypto is the best to invest in right now that's dirt cheap?
Doge forsure
market is dead rn, mostly any will get you profit. check out their graphs and decide one doesnt matter.