“Fast” Money?

22UF: “Fast” Money?
Hello all. I am looking for a way to turn a small fortune ($ 10,000.00) into a big one. I have read some books on investing and such, but still dont know which way to go(stocks? bonds? investment broker, which company is best, etc) and what would be the smartest move to make with this money? I have also entertained the thought of purchasing a house, and renting it out to make income? How does one start? I basically want my money to work for me, instead of the other way around. I appreciate any valuable advice.

Answers and Views:

Answer by allansc2005
Real estate ALWAYS is a good investment.Contact me for my story

Answer by JSAL21
well first off.. 10k is not going to get you any good real estate unless you want a fixer-upper, in that case your money wouldnt be working for you, you would be doing the working. Secondly, you have to realize that investing in the stock market is should be long-term for investors such as yourself. If you are looking for a quick return that could be potentially risky, you can look into commodities or REIT if you still want a part of the real estate business. I could effectively turn your 10k into 20k in about 5-7 years investing in the stock market. The key to investing and becoming wealthy from the stock market is invest early, invest often (keep adding money to your investment) and invest long-term, you should hold the portfolio for many years, this can be rebalanced over time but the money should remain in the investment. you could turn that 10k plus adding 100 dollars a month into 45-50k in 20 years.. you need to find a financial advisor you can trust and build a relationship with. I personally am a financial advisor and could recommend some firms or reps that would be well trusted.

Answer by Skip
If you have 10K, you can do several things in the real estate investing. Put the 10K as a down payment on a rental property and it should be a duplex, triplex or fourplex for the maximum investment. The 10k will suffice in certain areas of the United States and what state you are located in.

In this area you are looking for tax write benefits, equity build up, rental build up and a long time investment

Now you can also invest in foreclosures and distressed property. Find someone that finds fixers or distressed property, see if they need money to do the repairs and stuff. I am willing to bet they will not turn you down.

This is a short term investment of normally less than 3-6 months. You have to be careful about who you invest with. You will need to find out this person’s track record. The percentage, how you fit into the investment stream as well as how you are protected.

This is a good way to initially invest in real estate and be extremely successfully.A couple of these don strategically placed will get you a very handsome return on your investment.

You can do the same thing if you want to get involved in the day to day activities of finding, making and getting the offer accepted, fixing and selling.

Short term loans through mortgage bankers.

These are loans secured by real estate that are what are called bridge loans. They are short term 6-18 months with a high interest rate, normally interest only with the bulk all do and payable in 24 or 36 months.

Investment brokers takes your money and call you when he needs more, if there is no more he probably will not call again.

I hope this has been of some use to you, good luck.

“FIGHT ON”

Answer by Quiet Storm
fast money is trouble. tortoise and the hare. overconfidence can mess you up. first learn about investing and make a sound choice based on knowledge, not on quick money. most people become wealthy over time, not over night.

make good choices with your money and stop worrying about fast money.

Answer by win win
Believe me or not .but you can make some thousands at least on internet.

Answer by Thin Kaboudit
How soon do you want the big fortune?

If you can wait a few years instead of gambling with it, split it into four pieces and invest each into four different styles (maybe one that buys small companies, one that buys large companies, one that buys foreign stocks, and one that buys bonds) of mutual fund, depending on your age. (The younger you are, the more risk you can afford to take and still come out way ahead).

You can expect stock mutual funds to roughly double you money every 7 years on average, so if you are in your twenties your “small fortune” could be half-a-million or a million by the time you retire.

Read some of this:

https://www.fool.com

Good luck!

Answer by Patrick M
Usually “Fast Money” ends up being “Lost Money”. Be careful my dear. If you buy a house there will be upkeep and maintenance – If you invest unwisely, you’ll probably loose it. – If you invest in safe stocks, the big names – you’ll make money but it won’t be fast and you won’t be doubling your money in a short time. Stay away from the Casino!!!!!!!

Legal;

I have opinions about everything but expertise in nothing, so do not take my word for anything. All answers are for entertainment purposes only. By taking my advice you agree too do so at your own risk and hold me harmless in any criminal or civil action.

Mr. Obvious
Patrick