Thread: Where to invest $30K?

In my experience where ever you have a depressed real estate market most likely you are going to have a depressed rental market. If you are looking for cash flow do some research on what the market rents are like for the type of property you want to buy and how many vacant buildings or vacant rentals you have in the area. If the prices of homes are dropping and lasting on the market for long periods of time most likely the market is getting flooded with rentals and the competition rises.

[FONT=Times New Roman]The next question is why the prices are dropping? If it

You wont find a better time to buy an investment property. However if you are unemployed you may have a problem getting finance.

I have sold a few condos in Port St Lucie built in 2004 now being bought by people from Europe and the northern states as vacation homes.

There are 2 units still for sale one for $42,000 it has a tenant in it at present , I know that with a loan the rent covers the costs.

it is in a good area near the PGA Village.

Let me know if you need more details. I am not sure if I am allowed to put my web site link on here but I have the unit advertised on my site.

I guess you have to view my profile for information if you are interested.

Wish you all the best with your investment.

look in the Orlando Area. There have been condos selling in the 9k to 20k range recently and there are lower wage jobs available.

Give it to me so my 10 piece band and I can tour the East coast for a few months.

You should probably do some more research with local markets and books on investing in real estate, etc.

The worst thing you could do is to take one person's advice and throw your $30k of hard earned money down the drain.

Oh, and maybe you should find a source of income too.

Originally Posted by gigant

Hi,

Im a NYC resident and I ve saved $40K, currently unemployed, working part time

I want to invest part of tht savings, around $30K to buy a cash flow
porperty

My idea is to buy in cash a condo in a city with a decent job market and a
good local economy

I looked into Tampa and Miami where prices went down a lot and, potentially, i can also relocate there

Where should i invest? should i keep raise my cash and wait?

pls advice

thanks

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