I know where I would put mine.
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Kennewick Richland (and West) Pasco WA Homes For Sale - Kennewick, WA
Realtor(r) 509.438.9344 www.LaneRealEstateTeam.com
I would put the money into income producing properties (rentals). When the economy goes south, there are more renters available to rent and as a consequence, rents go up.
Oct 25, 2008 03:08 PM
Gardner Realtors, Licensed in La. - New Orleans, LA
Listening to your Needs
However landloard will compete to bring prices lower. Expect taxes, insurance and the like to rise. Just a thought. I like cash earning a return at present.
Oct 25, 2008 03:12 PM
Edina Realty - Crosslake, MN
Colleen - That makes sense to me! Thanks for the comment!
Eric - Supply and demand - great point! Thanks ...
Oct 25, 2008 03:18 PM
Coldwell Banker Residential - Naperville, IL
Helping clients buy and sell since 2005
I would by a home for my family in my town of Naperville. I am tired of renting!!
Ken
Oct 25, 2008 03:19 PM
Keller Williams Realty - Yorktown Heights, NY
CRS,CRB,GRI,ABR,CCPS,CIPS,TRC,RSPS
Darla,
I agree with Colleen, if I had money now I would definately purchase multi-families. Rentals have got to be in high demand because everyone that is facing foreclosure, and/or walking away from their debt ridden homes need to have shelter. It stands to reason if you are willing to rent to these families they will be quite grateful that you accept them. Meanwhile as I said they need a place to live and most can't go home to mom and dad. They have children and pets so you need to be tolerant. I'd be very tolerant because not only would I be getting decent rent but people that know how to live and take care of a home.
I'd build equity over the next 3-4years and then pull it out and buy more multi-families. that is what I would do. Again there are two things everyone needs, food and shelter, there is no way around them.
Oct 25, 2008 03:32 PM
Windermere Peninsula Properties - Allyn, WA
Managing Broker Windermere Peninsula Properties
I know every one of us says this, but I would start buying up all of these great deals in the stock market, and properties.There is a fortune waiting to be grabbed up if only...-Dinah
Oct 25, 2008 03:36 PM
First Realty Auburn - Auburn, AL
Inactive-2012 REALTOR - Homes for Sale Auburn Real Estate, AL
Edina Realty - Crosslake, MN
Carol - I agree with you and Colleen - there is a high number of people in need of rentals right now and it's only forecasted to grow for the next 12 months or so. I just don't know if I would have the patience to do it (or the know-how). There is money to be made in that business, however. Lots of money.
Dinah - Oh so many great opportunities right now. But being liquid is key to being able to take advantage of the "deals". Where to pull from ... and when? Thanks for your comment!
Oct 25, 2008 03:52 PM
Edina Realty - Crosslake, MN
Mara - I'm going to research the rental opportunities in my area - it's mostly second homes on the lakes and we're starting to see the effects of the economy. Thanks for stopping by -
Oct 25, 2008 04:11 PM
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production
I'd buy a couple of properties and put about 1 million in about 3 different safety deposit boxes.
Oct 25, 2008 04:19 PM
Edina Realty - Crosslake, MN
Larry - Stop by my office and see me. I have some great deals for you! :)
Oct 25, 2008 04:34 PM
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!
Hi Darla, I am liquid just a little less in the glass right now! Welcome to AR.
Oct 26, 2008 12:59 PM
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA
If we had hit bottom, I'd place it in real estate. For now it is safest in T Bills.
Oct 31, 2008 12:34 AM
Edina Realty - Crosslake, MN
Gary - Timing is everything - I just finished Warren Buffetts new biography "Snowball" and I look at the stock market differently.
Nov 09, 2008 01:46 PM
Edina Realty - Crosslake, MN
Russel - From what I've been hearing lately, diversity is the way to go! Thanks for the comment.
Nov 09, 2008 01:47 PM
Comments(17)