manage half a million dollars for me.

[nutsnack]

for sure id buy a house.. real estate usually is where the money is.. i wouldnt buy a car cuz those dont make u any money!

 

[Raina]

Did anybody mention coke and hookers? Cause if not, you are all very bad with finances.

...kind of an offshoot of this. What if you just spent it all on a party? That would be so fun. You could have one hell of a party for 500k. You could have strippers and hookers and drugs and all the fun stuff. People would be screened for invites based 100% on looks.

It would be memorable. Memories are priceless.

 

[sawastea]

I mentioned hookers.

 

[KillahBee]

...kind of an offshoot of this. What if you just spent it all on a party? That would be so fun. You could have one hell of a party for 500k. You could have strippers and hookers and drugs and all the fun stuff. People would be screened for invites based 100% on looks.

It would be memorable. Memories are priceless.

Why not pull a "Risky Business" and turn the party into a bordello for neighborhood highschoolers? It is then where you can introduce them to cocaine and meth and get em hooked at a young age thereby creating job security for yourself.

 

[KillahBee]

I mentioned hookers.

Job well done sir.

but I would add female hookers into the mix as well.

 

[jackangel]

Job well done sir.

but I would add female hookers into the mix as well.

lmao

 

[mylife]

isnt the house market in south florida about to explode and take a hit and go down bigtime?

probably, at least in the area i'm living. everyone keeps pushing north because the homes are cheaper. west palm has appreciated 108% the past 5 years and the median home price topped 400k this year. so people look further north because the developments are cheaper, port st. lucie is a good example. now port st. lucie prices have been driven so high that nearly 50% of the new homes built in the last year are vacant.

they say 50% of homes currently being developed in west palm will be priced at 500k, and 1/3 of them over 700k. it's all speculators purchasing them, but i don't know who the hell they're gonna flip 'em to because it's a service economy. (ie no high paying jobs) companies aren't willing to relocate here because their employees can't afford housing.

only areas in palm beach county i think will continue to appreciate is the jupiter/abacoa area and wherever the scripps biotech village ends up.

 

[SVT-TROY]

I don't know where the money should be put, but If I had 500k, I would put 40k down on a 160k house, use the money I make at my current job to live on (utilities and mortgage) and make the house bigger and change the layout to my taste and slowly add new furnishings, pay off 18k in debts, put 25k in a savings account, put the remaining amount (roughly 420k into an account that would give me at least 10%. Live like this for seven years, quit my job and live off the 80k a year that I get in interest.

 

[jackangel]

160k house?? sweet, how much for the wheels??

 

[gonelifting]

OMG. omg

o
m
g

Well, first of all, the kid's got a nice chucnk of change there. A lot of posts had SOME good info in them and were well intentioned, but bran set the record straight. lol You go brother! lol

Really, one needs to know what the person investing this money will be doing with his life. Where he'll live, what he plans on doing.

Short answer, I like Wodin's idea. Buy an apartment building with a big positive cash flow. If you can't manage it yourself, get a management company to do it. You'll be making an income and having equity at the same time. Cash flow is king to the new investor that has just come into money. It eases the pain of any crashes. It may not be the most profitable way in terms of % increase of your money, but it's steady and REAL, and it allows one to save money while building wealth.

Having said that, I'm out of touch with building prices and their money making potential, they could be out of reach now with only $500,000 or they may not produce the desirable positive cash flow they once had. Good luck