I keep hearing that pretty soon the value of the dollar will drop and it won't be worth very much. What should my friend invest in so that his life savings won't go down in value the way the dollar will?
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My friend has $150,000. How should he invest it?
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depending on the area i would just look for a rental property that will cash flow. you won't be making a ton of money right away, but if it's cash flowing you won't be losing anything either. with a first time homebuyer's mortage you'll still be making a couple hundred dollars a month and paying the mortgage for free. if you buy it with cash you'll be cash flowing to the tune of hundreds each month.
and when the market makes a turn around you can make an absurd amount of money. if it doesn't turn around the rental market will stay sky high, and you've got a damn good rental property.
that's what i'm doing right now. i bought my first property last year and i'm in the process of finding / buying my second.
don't rush into it, though. the markets for hte most part are starting to turn around, but you aren't in a massive pinch for time. pick the right spot and building. you can easily go broke and ruin your credit. i wouldn't even think of investing if my brother weren't a real estate broker. i've also got my father, a successful and self made businessman, with whom i consult regularly.
homes are the most basic investment, and if you buy at the right time and for the right price it will appreciate in value and cash flow. worst case scenario is that he lives there, and he'll probably pay less than he would to rent, making it a sound investment regardless.Last edited by New England; 05-25-2013, 01:51 PM.
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