Canadian Money Forum banner

1 - 6 of 6 Posts

·
Registered
Joined
·
2 Posts
Discussion Starter #1
I Have Run into about 30 thousand dollars...im looking to invest in something that can put an extra 100 to 200 dollars a month in my pocket...i have no idea about investments..and heard this was the place to go to get answers..any ideas?
 

·
Registered
Joined
·
229 Posts
wow nice ... could you tell use where were u running at? I dont mind to run around and suddenly hit $30k :D

I think first you need to get your priorities list: do you need to save for a house / auto / retirement ? then drawing a "timeline" of when you gonna need how much money, based on those you'll be able to better decide on what kind of investments would be the best choice.
 

·
Registered
Joined
·
2 Posts
Discussion Starter #3
I'm trying to create a small income from the money, it is coming in a large lump sum...so im trying t find a way to make an extra 100 to 200 dollars a month by putting the money somewhere... a friend of mine has purchased some atm machines and its working out reasonably well for him...but im reading alot of negative things about an investment like that...
 

·
Registered
Joined
·
80 Posts
that would make a nice down payment on a VERY small house, assuming it was in a rentable area. Take a community in small town Nova Scotia (or wherever there is an area that is...suffering from high unemployment and people can't get mortgages).

You could buy a house for ~80K, put 20K down, save 5 for repairs (have fun with the other 5), and rent the thing out for say...$800/month. MOrt plus tax would be ~550 a month, leaving you with 250. in 20 years, you'd own the place outright. It probably wouldn't appreciate much, but it would be cash flow.

Just a thought.
 

·
Registered
Joined
·
514 Posts
I agree with Rickson, go read. buy some 60, 90, 120 days GIC's and have them renew until you are ready.
i would recommend starting with the Wealthy Barber. then get more specific.

it would seem a good dividend paying stock would nearly do the trick.

check out globe and mail business section from this week wed and thur I believe. they did a stock screen for dividend payers.

also bond laddering would work well, though I understand these may be expensive right now.
 
1 - 6 of 6 Posts
Top