Good Investments Vol. $5,ooo (Goal orientated need to read)

I definitely need to hurry up and start my ROTH IRA cause i'm losing money for it as I type, I just don't know who to go with, any recommendations?
 
Originally Posted by 360wavesandxbox

My dad got into buying properties and refurbs...He started out with my Grandmothers house as she was getting to old to maintain it...She moved into an apartment and he bought her house. This was around 4 years ago..Now he has like 22 properties..One of them is a 12 unit apartment complex. He got it with the help of loans for like $500,000. The estimated market value on them will surpass the million mark in a couple of years i believe. Its in a low income area, but he never has a shortage of people looking to rent in case somone moves out. And just a couple of months ago the gov. approached him about leasing 8 of the units for around 5 years so no matter how hard things get he has money coming in from at least 2/3s of those units. And this is just something he did as supplementary income, he has another main job.
Bottom line is, if you do research, know some people, and make wise desiscions then investing in real estate is the way to go. I used to think him investing in lower income areas was a mistake, but it seems to be ideal for the times we are in now, with the real estate market at an all time low. He doesn't seem to be suffering, someone is always looking to rent.
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Thats the exact stories I am looking for. What your Dad is doingis soemthing I have been dreaming of doing since I was 16, and this just helps me stay focused on the goal. Its good to see the enormous amount of growth allin 4 years!


If i come off as dumb trust me, i am not... and would be finding other people older then myself to Invest with. I recognize alot of 18 year olds arent lookinginto real estate, but more so whats easy and high risk, drugs
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I be sure to watch myself with every penny
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thanks for the concern fellas


Thanks for the shared info
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unless you have 680+ fico , 20% dwn payment, and 2 yrs of income it gonna be hard for an 18 yr old still in school to qualify for a loan. I do it for a livingand banks are real tight right now giving loans it isnt 2yrs ago.
 
Good looks Dirty on that info. To the original poster though, for 4000 you could buy a pound of haze. Then proceed to holla at me.
 
You can withdraw from your IRA prior to 59 if you're buying a home.

But if he is looking for investment advice a Roth IRA is a bad idea. He'd be better off in a BRIC focused mutual fund or energy based mutual funds... justmy opinion
 
Originally Posted by gko2408

I'm thinking about just buying stocks from financials that are struggling right now and holding onto them long term.
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Word to shorting CITI and BOA since May of last year.
 
I don't see how setting yourself up early so that you don't have to worry about retirement is a "bad idea"

but hell..that's just me.
 
yea, Having 15-20 investments is better then 1 or 2....

cashing 15 - 20 6 figure checks is gonna be like the ultimate christmas/lottery for me or my kids
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America is Great
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Originally Posted by Dirtylicious

I don't see how setting yourself up early so that you don't have to worry about retirement is a "bad idea"

but hell..that's just me.
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He's 18...He can afford to wait on an IRA (401K-Roth IRA, or Roth401K) for a few more years. He would be better off with a more aggressive strategy.
 
1) exactly...he is 18...the earlier he starts...the better...his earning potential is at it's greatest... steady salary.
2) additionally...I estimated a very modest 9% return....most Roth's will let you control the funds you invest into...it's not inconceivable thathe'll earn more than 9%
3) additionally....it's TAX FREE!
4) he has 5K to burn.....that's it. 5K invested now will kill it given a 40 yrs span.
5) it's TAX FREE
6) it's TAX FREE
7) it's TAX FREE

.yeah...he can be aggressive...but not with the limited cash flow he has. I'd say be more aggressive when he's out of school and in a full time jobearning a
 
Its official Dirty has just convinced me to get an IRA going, i'm 20 now so I guess i'm a lil late, oh well better now than later.
 
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I got the black eyed peas Diritylicous song going while i was reading that post
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703 Hwy, 20 yrs old isnt late at all.. some people dont start till there 30 or older
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NT is my community I go to.... If I ask the questions how to play my cards right, I am well guided, as you can see.

thanks everyone, Dirty

Hoped this helped more then myself
 
it's TAX FREE


Couldn't have said it any better. Present value calculation on $5000 based on 42 years till retirement at an average rate of return of 8% equals to around$126,697.40 TAX FREE.
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you can put in $5,000 every year?

are the figures you are showing, if you were to dump in 5k every year? or just let 5k sit??? Just to clarify I think its just the 5k sitting... but wnat tomake sure.
 
I swear sometimes it takes ya'll actually to start working to realize that you'll want to retire ASAP. Its all jokes when you're in college,retirement? yeah, like that matters, I'll get to it...etc.

Myself? I don't want to work here till I'm 65. Forget that.

Ultimately I had a couple of choices -
1) I opted for my condo
2) I reinvested the rest I had left (had to cash out some funds, first) for long term
3) Received my raise, so broke off more to my 401k.

Plus - what if you start your own business or don't work for a company that offers good retirement benefits? Having started with this Roth IRA you'llat least have something.
 
listen...don't just jump into an investment b/c someone else says to....

I can see where JordanFiend is coming from...but I'm averse to risk...I don't like it...even at a young age

I advocate the Roth for the most part b/c it grows Tax free and he's quite young, so plunking down a nice hunk of $$ now, even if you never contributeagain, will give you great gains when you reach retirement age. Or hell..plunk 5K for the first 3 years (15K over 3 years)


think about it...if you know that you're gonna be set for retirement...imagine how you'd live your life with the money you earn knowing that?
 
Yea, retirement is really overlooked, 35 is a good age to me
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give me time to travel and spend time with any kids i may have, maybe 35 is to young, butatmost 40-50. A stay at home job that pays well would be nice and convienent too.
 
I agree with that, you should continually invest in the investment...
The max contribution per year for a IRA isn't exactly high either (in comparison to other things).
 
Yea, I agree. I have a uncle who works for Primerica, he's a financial guru , I talked to him today and he told me ROTH IRAs are great investments, thereare many types, but Roth being Tax free makes it a great investment.

waiting for dirty
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to answer that last quote
 
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