What To Do With The 20 Grand

[ossie_21]

If your Nan has died & you really want to spend it on a car, spend it on it so that there is less chance you will be joining her in the ground & spend it on quality brakes, suspension etc....

Personally I'd buy a house with it.

[dan_the_man]

yeah there is a few houses on reiwa atm for $20k. be quick though

[Boostzor]

Well im glad i got into this one if a little late.

Apart from tigeryas idea there have been few great ideas apart from "buy a house". I heartily endorse this plan without even looking at you in closer detail. The sooner you do this the better your midlife crisis car will be:D

Direct shares if done well can make you a nice return, they can also make you lose ("loose" for teh gramatically impaired) everything and will require much time and effort plus sleepless night worrying about teh price of corn in soviet russia vs the molasses index in southern america.

Still if i were your age id blow it on mods,hookers and blow and regret it later. Good thing you are asking for advice though.

Wait are you working now full time?

[Tales]

Do what i did dude. You'll thank yourself and everyone else that suggested it later ^^ I put a deposit on a house 3 months ago and with the help of my olds they got another house with it to. You might not beleive it but a we bought a block of land up in the hills for 50k. Bare block that is and 3 years later sold it for 225,000 lol you do the math. Sleep on it. Trust me took alot for me olds to drill that into my head but now the block that i currently have in the 3 months has gone up by 30k. 20k is a good amount for a deposit. Keep it for atleast a year and you would have made easy double your deposit on it after you sell it And hell you wont have to pay shit if you have people occupy tha house as the rent will pay your repayments! hahaha not bad for a 20 y/o...although im thinkin 34 gtr now mmmmm.

[dan_the_man]

for the purpose of this story. sam does not work

[mass_iv]

how bout invest it, and spend the money u make on top of the 20k on the car, that way u have the 20k u started off with saved and u are only spending the money it made u lol

kidding prob wont be much anyways, but yeh INVEST IT!!!

[Tales]

Ahhh...start working mebe? lol take your chaces at tha cas if you like....perfect pairs ftw dont pay attention to me k. Oh and dont go on tha piss while trying to make a decision on this...TRUST ME! Bad things happen...rofl!

[dan_the_man]

i drove through burswood the other day and saw sam walking out from langtrees. looked like he was high on coke.

guess he took our advice

[Tales]

....damn..we should be councillors lol *later recalls some random hooker askin if he would like the 50 bucks change out of his 20k XD can you say..OOPS?

[sam5709]

lol some really good sensible suggestions, i thought this beeing the wasteland people would say stupid crap but they havnt lol,

yes i am working but atm i wouldnt count it as work lol

[Tales]

I wasnt being serious bout tha cas...although.......after a few beers that to might sound sensible lol

[Boostzor]

I get what you are saying there tales but im not big on investment properties cause of the teh associates risk and tax implications. Unless you are living in your own house "sole residence" i think its better off elsewhere. Plus i dont think property will do as well as it has in the past. Doesnt seem possible.

[alpinestars]

man have another house ie investment what tax implications you only have tax implications when you soley own the house outrite but if its owned by the bank its a different concept, you can claim negative gear and stuff man ive put so my tools and machinery claiming it through from the house you dont see it striaght away but later down in the track

ivestment in property is good if you take it the rite way like seeing accounts and property management

[Kaido_RR]

man have another house ie investment what tax implications you only have tax implications when you soley own the house outrite but if its owned by the bank its a different concept, you can claim negative gear and stuff man ive put so my tools and machinery claiming it through from the house you dont see it striaght away but later down in the track

ivestment in property is good if you take it the rite way like seeing accounts and property management

good like buying a house with 20k and no job... every bank will tell you to get f*ked

[sam5709]

i know

[Boostzor]

Treu you can negative gear an investment property but if Sam is not making much of an income its unessacary, the govt cant give you free money maybe neutrally geared (renter pay same as loan repayments) would work but that would be interesting to see due to the fact that rental prices arent really in line with purchase prices unless you find a good deal, in which case 20k is only a 5% deposit on a below average 400k house. Then there is the capital gains tax that will be payable when he sells it which could be a nice chunk of change with nothing to write it off against. Not so bad if you plan to keep it a while i suppose.

Then of course you will have worries with getting a loan under your own name and i would say your folks would have to go down as gaurantour for that debt. As long as you dont decided to have a 6 month holiday in teh next 5 years and have finshed studying you should be fine.

or yer go see a financial adviser....read: disclaimer and no im not just pluggin my industry...

[342Four]

deposit on a house/property

if you have a steady job, some banks will give you a loan, and then, the advantage with a property/house is that you have equity, meaning that you *possibly* could buy a rental property with the equity, sit on it for a period, sell the rental for more than you got it, repay back the loan for the rental, plus more 4 yourself

i know its a full on thing, but this is what my folks have done, they pay back only the interest on teh original mortgage, using the rental payments to pay off the rental loan, and they want to sell the rental soon, making approx 50-100k on it, repay the rental loan, plus a lot of the original loan

this is what a lot of investment people do, they keep buying rentals, cause it gives them equity to buy another, and so on and so on, till they got lots of propertys, then after a while they slowly start selling some of to repay back loans and in the process becoming very rich

[Boostzor]

No sir, i dont like it.......

Yes you can argue that over teh past 5 years the above would have been a great strategy. In an academic sense though, there is zero diversification and while you still say volatility is relatively low, liquidity is too.

This means that if you buy up now which some have said is nearing the top of this property boom you are left with either a huge loan to service or, if you sell, a huge capital gain to deal with. Using the equity is a great plan and yes i totally agree with that strategy but to buy more property... now... i, as i said before, dont like it

C/N: Buy a home to live in =good. Buy a home for investment = bad.

ps: if we see a year like the last for property ill eat my own hat *runs though house collecting all hats to give to salvos*

[342Four]

yeah, the market is a tad unstable atm as its likely to fall out really soon, but could also continue to increase

its one of those things that could turn out to be really good, or fall on its ass really bad

heck ur the financial advisor, im just a uni student doing a science degree

[Boostzor]

heck ur the financial advisor, im just a uni student doing a science degree