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?
wow nice ... could you tell use where were u running at? I dont mind to run around and suddenly hit $30k
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.
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...
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.
A forum community dedicated to Canadian personal finance enthusiasts. Come join the discussion about investing, stock portfolios, equities, frugality, real estate, market trading, taxation, retirement, and more!