2006-07-09 12:33:49 · 12 answers · asked by Anonymous in Local Businesses ➔ Other - Local Businesses
Real Estate.
Buying homes that need cosmetic improvements can give you a good return for your money. Most people are not interested in buying a home with even cosmetic problems. Everyone wants an instant dream home. You can cash in on that by purchasing reposessed homes. Usually, they need new floor coverings, paint, light fixtures...stuff like that. The kind of thing that is pretty minor, but scares the average person away. Sometimes you get into roofing, siding, ect. but this isn't always a deal killer. The more improvements to make usually mean a better price considering banks and other lending institutions need to unload these undesirable properties.
A key is doing quality, yet affordable repairs. We used a handyman who worked independently for us rather than a contractor or other type of company. If you can do the work yourself, that helps, too. You don't have to make lavish improvements, just good and attractive ones.
Sell the property marked up for cost of improvements and a profit margin. Look to make marginal profits and roll them into the next home...they will grow with time.
Capital gains tax will apply come April, so its good to set aside an amount straight from the closing to cover taxes...
2006-07-09 12:48:41 · answer #1 · answered by joyful_psalmist 2 · 3⤊ 2⤋
there are several ways to invest and i can go on and on it would take me forever, but the good way to do it is to talk to somone in the game usually stocks are the best way to go if you know the right stock you can buy a book it's called "JIM CRAMER'S REAL MONEY" this book explain alot about stock and inviesting also you can go to www.thestreet.com it's a website where you can get info about the market and investing and how to do it.. hope this help you good luck
2006-07-09 19:47:45 · answer #2 · answered by mighty_m71 2 · 0⤊ 0⤋
If your thinking long term and you want to be a millionaire when you retire (assuming you are young enough) then a Roth IRA is the best way to go. Invest about $3,000 and in about 35 years or so you will be a millionaire or really close to it.
2006-07-09 19:40:21 · answer #3 · answered by Anthony D 2 · 0⤊ 0⤋
invest it in a charity for Africa or any third world country, such as Compassion or World Vision. ;) then, you are investing in people's lives at the same time.
2006-07-09 19:40:28 · answer #4 · answered by ? 3 · 0⤊ 0⤋
i say invest in sony becuase it's going to spike when the PS3 comes out
or invest in yourself
2006-07-09 19:38:49 · answer #5 · answered by Anonymous · 0⤊ 0⤋
If you haven't already done so, invest in yourself first. By this I mean get more education.
2006-07-09 19:37:58 · answer #6 · answered by Jill W 4 · 0⤊ 0⤋
I would say property. Especially if you can buy property near a lake... theres only so much lake property.
The world is just growing in population - not shrinking - so property values will always go up.
2006-07-09 19:36:49 · answer #7 · answered by Patti 3 · 0⤊ 0⤋
Invest in what you know.
2006-07-09 19:36:53 · answer #8 · answered by presidentofallantarctica 5 · 0⤊ 0⤋
Buy a lottery ticket
2006-07-09 19:37:47 · answer #9 · answered by toe poe gee gee oh 5 · 0⤊ 0⤋
Save it, and get something that really matters to you. Or get something that will later be worth a lot!!
2006-07-09 19:36:46 · answer #10 · answered by Ava 2 · 0⤊ 0⤋