What to do with $70,000.00?

**Johny-too-small** · 02-15-2007, 08:32 PM

Originally Posted by Gsxxr

Get married it will be gone in less then a year.

haha, I know the feeling all too well.

***xxx*** · 02-16-2007, 02:34 AM

buy a car - you could get a nice descent GERMAN car for it, prolly a lil porsche

**MotoXracer** · 02-16-2007, 03:16 AM

You can invest it with a Hard Money lender and earn a guaranteed %12-%18 interest a year. You lend them your money for 1-3 years, they send you an interest payment for your money every month and then at the end of the loan, you get your 70k back. So you would get a check for 700-1050 a month and then your original 70k at the end of the loan.

**Johny-too-small** · 02-16-2007, 09:21 AM

Originally Posted by MotoXracer

You can invest it with a Hard Money lender and earn a guaranteed %12-%18 interest a year. You lend them your money for 1-3 years, they send you an interest payment for your money every month and then at the end of the loan, you get your 70k back. So you would get a check for 700-1050 a month and then your original 70k at the end of the loan.

Thats a pretty decent idea.

**lunarociti** · 02-16-2007, 04:25 PM

Buy one of the first houses in a new development.I'm in construction, and I've seen them go up as much as 50,000.00 in one year.

**bigbouncinballs** · 02-16-2007, 11:03 PM

Originally Posted by Snrfmaster

sorry, i didn't mean to.

growing up on British army bases that had been bombed by the IRA and living next door to a guy who lost his family to an IRA bomb, and being named after my dads best friend (a para sgt) who was machine gunned from behind kinda makes me sensitive on the whole political status of them.

2 years ago on st paddys day I fvcked up an american who thought it'd be funny to buy the brit an Irish carbomb...he didn't find my reaction so funny

note to self, stop calling it an irish car bomb...

**bigbouncinballs** · 02-16-2007, 11:05 PM

Originally Posted by MotoXracer

You can invest it with a Hard Money lender and earn a guaranteed %12-%18 interest a year. You lend them your money for 1-3 years, they send you an interest payment for your money every month and then at the end of the loan, you get your 70k back. So you would get a check for 700-1050 a month and then your original 70k at the end of the loan.

whats the catch?

**MotoXracer** · 02-17-2007, 12:05 AM

Well, here's how it works. You lend a Hard money lender your cash for 12-18%, they turn around and lend your money out for 12-18% plus some points. They pocket the points(risk free for them) and then add a percent or two on the loan. So if your getting 12%, they lent it out at 13%+. The down side is if the person who borrowed money from the Hard Money lender defaults, it could take a while to get your money back. Hard money lenders will only lend out enough for 70% or so of what a house is worth. So the person can only get a hard money loan for 140k on a 200k house. If the person defualts, the Hard Money lender just bought a 200k home for 140k. They can just sell it on market and try to at least break even.

Honestly i just starting looking into this and haven't done it myself. Here is a website on one Hard money lender you can invest with. I don't work for them or anything, it's just one I have found online.

http://www.thetrustdeedgroup.com/

**dhriscerr** · 02-17-2007, 12:43 AM

My jennison utilities fund went up 26% this year, Ive gone from 800 shares to 1250 in 3 years, Price just fell 4 bucks though so thats almost 6K but itll bounce back. Past 3 years have all been over 25% my low was 10K and high was 23K mind you I started it 10 years ago with 2000 dollars and havent contributed since. But at 70K youd be looking at $144,531.25 if you got 25% all three years. Good luck finding one though. Luck of the draw man. Mine sat dormant for a few years.

**dhriscerr** · 02-17-2007, 12:47 AM

Originally Posted by MotoXracer

Well, here's how it works. You lend a Hard money lender your cash for 12-18%, they turn around and lend your money out for 12-18% plus some points. They pocket the points(risk free for them) and then add a percent or two on the loan. So if your getting 12%, they lent it out at 13%+. The down side is if the person who borrowed money from the Hard Money lender defaults, it could take a while to get your money back. Hard money lenders will only lend out enough for 70% or so of what a house is worth. So the person can only get a hard money loan for 140k on a 200k house. If the person defualts, the Hard Money lender just bought a 200k home for 140k. They can just sell it on market and try to at least break even.

Honestly i just starting looking into this and haven't done it myself. Here is a website on one Hard money lender you can invest with. I don't work for them or anything, it's just one I have found online.

http://www.thetrustdeedgroup.com/

Isn't it the same thing with Tax defalt properties, You pay what someone owes on state or county taxes on there property and they have a year or so to pay you back at 13-18% if they don't you get the property for the ammount you paid off there taxes for. The state does it because they need to collect tax money asap. I haven't looked into it to much but thats the jist of it.

**biglouie250** · 02-17-2007, 01:25 PM

i say if you have to ask.....just stick it ING and dont blow it lol!!!

**dhriscerr** · 02-17-2007, 01:45 PM

Gsxxr, loves being married!!!

**paulzane** · 02-17-2007, 02:46 PM

Remember any scheme that seems too good to be true ..... probably is!!!

**MotoXracer** · 02-17-2007, 05:30 PM

Originally Posted by dhriscerr

Isn't it the same thing with Tax defalt properties, You pay what someone owes on state or county taxes on there property and they have a year or so to pay you back at 13-18% if they don't you get the property for the ammount you paid off there taxes for. The state does it because they need to collect tax money asap. I haven't looked into it to much but thats the jist of it.

I'm not sure about that, i'm not to familiar with them. Hard money lenders are used for quick sales of properties. Lets say you find a property from some one that is about to forclose and you can buy a 200k house from them for 140k(just using round numbers to illustrate). You go to a hard money lender and the lender will look AT THE PROPERTY and not your credit score. It doesn't matter to them because their loan is backed by the property, not your ability to pay. The hard money lender will say, I'll lend you 140k for that property at 14% interest plus 4 points, you can have the money for 6 months and you can get the money the NEXT DAY. People will pay the high interest in exchange for a fast transaction.

These are legit buisnesses, I found most of them from REIclub.com.

Here are some others.

http://www.hardmoneymi.com/

http://www.dlendinggroup.com/private-money-lenders.html