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Forum
-> Household Management
-> Finances
amother
Burlywood
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Mon, Jul 16 2018, 1:47 pm
Hi all,
Bh we have about 100k saved up and we really want to invest. I really don't want it to just sit in the bank anymore. We tried to buy a house in our area and we really couldn't afford it, long story we ended up getting rejected for a mortgage. Anyway we tried to move to a cheaper area and had a very hard time finding jobs. So we decided we want to buy in a cheaper area and rent it out.
Any ideas of a good investment place to do this? And any other ideas of a good investment? Thanks so much!
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amother
Aquamarine
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Mon, Jul 16 2018, 2:02 pm
since you don't qualify for a mortgage - are you looking to buy a place outright for 100k?
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amother
Burlywood
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Mon, Jul 16 2018, 2:03 pm
Sorry, no we do qualify for a mortgage, but not such a big one for where we live. Basically we can buy a house for 350,370k
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amother
Aquamarine
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Mon, Jul 16 2018, 2:18 pm
Got it. (was that a mortgage approval for ownership by you, or investment property?). Have you talked to anyone about being a landlord - especially one that uses a property manager rather than oversee things directly?
Personally - I'd invest in a bunch of ETFs or REITs rather than deal with the headache - but real estate does have good potential for tremendous growth.
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amother
Burlywood
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Mon, Jul 16 2018, 2:23 pm
amother wrote: | Got it. (was that a mortgage approval for ownership by you, or investment property?). Have you talked to anyone about being a landlord - especially one that uses a property manager rather than oversee things directly?
Personally - I'd invest in a bunch of ETFs or REITs rather than deal with the headache - but real estate does have good potential for tremendous growth. |
The house was for us to live in.. Not investment.
What is etf and reit?
We really Want to buy a house so that in x amount of years we can sell for a lot more..
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amother
Aquamarine
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Mon, Jul 16 2018, 2:27 pm
amother wrote: | The house was for us to live in.. Not investment.
What is etf and reit?
We really Want to buy a house so that in x amount of years we can sell for a lot more.. |
the mortgage qualification for a house that you use as an investment is different than what it would be for principal residence.
ETF and REIT are things you can google.
Good Luck!
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doctorima
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Mon, Jul 16 2018, 3:04 pm
If you're doing it yourself, the simplest way would be to divide it between a few index funds at Vanguard, Fidelity, or Schwab - stock, bond, international. If that's gibberish to you and you want to hire a professional to do everything for you and (hopefully) make even more money, feel free to PM me for the name of an amazing investment advisor.
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