What to do now?
November 15th, 2007 by KenricI got most of my money back from the Tucson fixer upper sale closing. The big question is what do I do with the money?
I could buy more real estate, although I can’t find anything that makes sense.
I could get a vacation home and do the vacation rental thing. This is something I’ve been thinking about. The problem is that the real estate at the vacation hot spots have not come down at all.
I could go buy a car for my parents. Hope they don’t read this, it would ruin the Christmas suprise.
I could buy a car for myself. Now that seems selfish after what I wrote above it.
I could put an addition onto my house.
or
I could just park it in a bank account at 4.5%.
Posted in Finances | 4 Comments »
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If I were in your shoes, I would park the money in cash until I found a good investment opportunity. In the current market, I would use short term CD’s or a bank money market fund that’s FDIC-insured in a high quality, low risk institution. I wouldn’t put money in an uninsured money market fund right now, because many of them took on some risky paper to squeeze out a little more yield and now they are getting caught with that junk. Some of these institutions and funds are going to fail.
Of course, if my parents needed a new car and could not afford one, that would be different.
By Another Investor on Nov 18, 2007
That’s what I’m going to do. My parents dont need a new car. But my dad has always wanted a convertible.
By Kenric on Nov 19, 2007
Selling a property is always an exciting thing. Having all that cash opens so many possibilities – it really is a lot of fun.
Have you decided what to specialize in? I remember one of your posts was talking about how you are trying to decide in what type of investing (SFR, apartments, businesses, etc.).
BTW – Email me your product website, I would like to see what it is youre selling. :)
RealOG
By RealOG on Nov 20, 2007
How do you feel about commercial real estate? It seems like office rentals fill up pretty fast. If I ever invest in an office building I could rent a few small 15×10 spaces for about $300 each to help with the finance. I assume Tenant issues would probably be minimal.
By Cole with Low Insurance on Nov 19, 2008