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I have a little bit of extra money... I want to invest it. Ideas?

I have been saving for a while and working long hours. I have saved up about 50k. I own a condo, I'm 26 with no kids or wife... No one to spend money on =) With interest rates being so great, I have been thinking about buying a disstressed home and fixing it up, using it as a rental. However, I worked with an older man over the summer, this man got me thinking about investing in farm land. He was a farmer and he told me some of the benifits of owning farm land (buy the land, lease it to a local farmer). I have a pretty good understanding of the real estate market, I'm also a handy man. This is why a rental appealed to me. Farm land also sounds like a good idea.... No renters, late night calls to come fix things or, even worse, a renter that destroys the rental. But, I am not a farmer, not by a long shot.

Anyway, there has got to be other people out there in a simular situation, but maybe you have a differant idea where i should invest or, maybe you can open my eyes to another investment oppertunity??

I would be more than happy to anwser your questions too if you have any questions about the two investments i mentioned above.

Thanks

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April 05 2013 - Salt Lake City
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Profile picture for zuser20140217134106519
Dear friend,
I'm Ben [Self promotion removed by Zillow moderator. Please see our Good Neighbor Policy for more information.]
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February 17
Profile picture for zuser20140120081814583
Don't put all of your eggs in one basket (property). 

Unless you already have a good portfolio of other investments, put your money in a good mutual fund or two or three, not real estate.  Instant diversification, good long-term returns (especially if you put most of it in a stock fund), high liquidity, almost no effort.  I like Vanguard funds a lot, especially their index funds.
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September 20 2013
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September 20 2013
Great idea to want to reinvest your money instead of just spending it.  I see you live in Salt Lake City which is where I live.  In order to buy an investment property in Salt Lake City for all cash you will need about $75,000 to $90,000 otherwise you would need to get a small loan for the difference.  Owning a rental property can be a great thing if you don't mind being a landlord.  There are always pros and cons, I know as I personally own multiple rental properties.  I would definitely stick with residential real estate as opposed to farm land, that's a whole different ball game that will require a lot more know how and money.  Let me know if you need help in looking for a great deal on a property, I see them come on the market all the time.  Good luck
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April 11 2013
Boy, where do I begin with you!  ;-)

You bring up a few good questions, and also some concerns...

First of all, forget the farm land.  You don't have enough cash to acquire what would be considered a good investment.   Also, farm land doesn't generate cash flow (unless you're a good farmer), so by my definition it is NOT an investment.  It is speculation.

Second, we speak to a lot of investors every week in similar situations like yours.  Believe it or not, $50k can opens a lot of opportunities and can help you buy a good turnkey investment property.  My definition of turnkey is one that is like-new, tenant occupied, under professional property management, and generates regular monthly cash flow for you.  (You can visit our website for many examples; see our Zillow profile.)

Finally, I suggest reading our free report, "Building Wealth in Real Estate".

I hope that helps point you in the right direction.  It's a start.

Marco Santarelli
Norada Real Estate Investments
...
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April 06 2013
 
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