Reply
Senior Contributor
Posts: 4,694
Registered: ‎02-23-2011

Re: What would you do with 20k?

I'd buy a basket of ETFs in TIPs, certain precious materials and metals and currencies that would appreciate the most with US dollar devaluation.  Really speculative, hedge with a short on soverign debt instruments.

Frequent Contributor
Posts: 371
Registered: ‎12-30-2012

Re: What would you do with 20k?

Guess I am the lone guy here with the real estate. I wont invest in stock market. 


CSP-$8700, Amex BCE-17.2k, Chase Freedom-$5700
Discover It-$6600, USAA MC-$5900 Ink Bold- $18k
EQ-742 EX-702 TU-737
Frequent Contributor
Posts: 279
Registered: ‎12-26-2012

Re: What would you do with 20k?

[ Edited ]

I would buy yourself a little fixer upper for 15,000 put a little work into it, just enough to get it rent ready and make a monthly income.

This is what my husband and I have started to do. We just bought a house for $6000, yes $6000 is correct, redid the floors in some cheap plain tile, painted the walls, put in a few hi quality window units that have heat and air becuase the Hvac was missing.  Total 10,000 and rent it out for 650 a month.

 

So by the time current renter moves out house will be paid off and can replace hvac and rent for $850.

Not to mention that cheap houses gain the most value with little work plus you get a monthly income. Rent for less than market value= rented quick so it never sits empty.

Currently "freezing" in the garden!
Blogger
Posts: 3,360
Registered: ‎10-19-2012

Re: What would you do with 20k?


fltn wrote:

I would buy yourself a little fixer upper for 15,000 put a little work into it, just enough to get it rent ready and make a monthly income.

This is what my husband and I have started to do. We just bought a house for $6000, yes $6000 is correct, redid the floors in some cheap plain tile, painted the walls, put in a few hi quality window units that have heat and air becuase the Hvac was missing.  Total 10,000 and rent it out for 650 a month.

 

So by the time current renter moves out house will be paid off and can replace hvac and rent for $850.

Not to mention that cheap houses gain the most value with little work plus you get a monthly income. Rent for less than market value= rented quick so it never sits empty.


If you can actually pull off a deal like that, there's no better alternative!

 

New Contributor
Posts: 178
Registered: ‎04-06-2013

Re: What would you do with 20k?

I'm a big believer in owning land. Jump on the veterans land board site and see if there is any in either a) an area that you know is expanding soon or b) that is in prime hunting territory. My hub is an army vet (2 years til retirement) and once our personal finances are top notch, we plan on getting some acreage here in TX that we will lease as hunting property until our boys are out of school and we can move there. The lease money can cover taxes and part of the payments. BUT, that's just our little dream. I would also go ahead and clear up any debt I could to free up "future" money.

Starting my rebuild!


Contributor
Posts: 77
Registered: ‎04-15-2013

Re: What would you do with 20k?

Buy Bitcoin whenever it hovers around $50 range and sell above $125.  

 

Instant Profits...


10/01/2012 STARTING FICO SCORES: EQ 585 TU 598 EX 539
09/12/2013 CURRENT FICO SCORES w/ 9 REVOLVING TLs = $4,550 + INSTALLMENT TL: $23,300
EQ 598= AAoA=10m, UTIL=43%, 12m INQ=22, COLL=0, PUB REC=0, MISS PAY=0
TU 644 =
AAoA=1yr 8m, UTIL=46%, 12m INQ=19, COLL=0, PUB REC=0, MISS PAY=0
EX 614 = AAoA=3 yrs 11m, UTIL=63%, 12m INQ=17, COLL=0, PUB REC=0, MISS PAY=0
04/01/2014 GOAL FICO SCORES: 720s = AAoA=+7m, UTIL ≤ 9%, 12m INQ ≤ 6, COLL=0, PUB REC=0, MISS PAY=0
Blogger
Posts: 3,360
Registered: ‎10-19-2012

Re: What would you do with 20k?


rebuildingmission2013 wrote:

Buy Bitcoin whenever it hovers around $50 range and sell above $125.  

 

Instant Profits...


As if not enough people are doing it Smiley Wink

Valued Contributor
Posts: 2,732
Registered: ‎08-13-2009

Re: What would you do with 20k?

Hi, it's me.  The gal who buys a CD every two weeks.  Smiley Happy

 

If you are interested, private message me, and I can tell you how to get a triple bonus on your's and your wife's IRA account.  (Anyone can send me a private message if you want to know how to do this.  And yes, it's legal.)

 

And I am a big advocate for paying off debt.  With the help of our CD's, we bought a house in June 2012, transferred the balance to a no interest/no fee cc in January 2013, and just paid off the balance this month, April 2013.  I still have more than 30 CD's active and growing.  

 

We are now moving towards doing a triple hit (my term) on the IRA's for 2013, 2014, and 2015.  I should be receiving a 3% bonus on making 15k IRA contribution.  That is $450 in free money.  Smiley Happy  It sounds like you and your wife (combined) could receive $900 in free money.  Legally.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.