investing money or ways to make money?

[crappieseeker]

I did this with one rental house. It has already paid for itself so when I sell it then it will be all profit. I had an opportunity at one time to buy the one next to it and passed it up. I wish I would not have now. I could have turned a good profit on it. Someone else bought it. Right now property is over valued and will go back down some. It's not a good market right now in my opinion.

if i was a young man i would invest in rental property . i bought a house 12000.00 lived in it 30 years . put vinyl siding on it was 12,000.00 bought another house to live in and rented it and paid for my newer house with the rent then sold it for 25000.00now i have a house worth 60.000.00.

[crappieseeker]

I totally agree with you on the real estate thing. I see people paying 300,000 for homes that use to cost about 150 thousand or less. Once the market settles and lumber prices go down, so will the value of those homes. In the past real estate was always the way to go, and it will be again in the future, however I'm not going to risk an investment in real estate right now.

As far as crypto is it really worth it or just a big gamble? I have read so many negative things about it that I am too nervous to try it.

As far as mowing goes I have considered that. I just bought a real nice zero turn mower and nice weedeater. I thought about buying a trailer to haul and do some mowing however in my area it seems like every 3rd person is doing this and not sure I would get any jobs if I bought a trailer.

$1000 won't get you anywhere in property. Honestly real estate seems like it's in a huge bubble right now and I don't want any part of it. This much growth just doesn't seem sustainable, at this rate in another 5 years nobody will be able to afford anything.

As far as stocks go, you are best to go with a low fee mutual fund or ETF. Even the best swing/day traders struggle to beat these. There are several mobile apps that make it easy as can be, Fidelity, TDAmeritrade, Robinhood, etc.

I wouldn't be so quick to pay off low interest debt with it, the stock market averages around 10% APR, any loans with an APR less than that are better left alone, you will make more by investing it. This is why a lot of really well off people still borrow money, their liquid cash is invested, earning more of a return than the loan. Things like credit cards, payday loans, personal loans, etc with a high interest rate, absolutely pay it off first.

Crypto is not a bad choice either, as long as you stick with established coins like Bitcoin or Ethereum. Buy and forget it for 10 years, the volatility will make you crazy.

As far as side gigs go, that will depend on your skill sets. Could be anything from photography, website design, computer repair, welding/fabrication, mechanics, handyman stuff, tax prep, HVAC, etc. I am a mechanic by trade, and will do side jobs from time to time for $50 an hour. When the going rate for a shop is $100+, that makes me a bargain and I am usually turning away work.

You can start mowing lawns with a couple thousand bucks, that business is generally pretty lucrative if you have time management skills and are able to work on your own equipment. A small trailer and a second hand mower don't cost that much.

Side gigs have sort of become the norm, just about everyone I know has one of some kind. That's just life as a millennial in this crummy economy.

[deathb4disco]

As far as crypto is it really worth it or just a big gamble? I have read so many negative things about it that I am too nervous to try it.

Why not stock mutual funds?

[Atimm693]

I totally agree with you on the real estate thing. I see people paying 300,000 for homes that use to cost about 150 thousand or less. Once the market settles and lumber prices go down, so will the value of those homes. In the past real estate was always the way to go, and it will be again in the future, however I'm not going to risk an investment in real estate right now.

As far as crypto is it really worth it or just a big gamble? I have read so many negative things about it that I am too nervous to try it.

As far as mowing goes I have considered that. I just bought a real nice zero turn mower and nice weedeater. I thought about buying a trailer to haul and do some mowing however in my area it seems like every 3rd person is doing this and not sure I would get any jobs if I bought a trailer.

An investment in a well known and established crypto really isn't any different than stock in a company IMO. Investing in whatever coin is hot at the moment is essentially gambling, you could win big but could also lose it all. That said, I would not put all of your eggs in that basket, diversify, crypto is a lot more volatile than the stock market. And like I said, buy it and forget it, it will go up and down.

Even if you bought the peak in 2018 before it crashed hard, you would be sitting on 100%+ returns right now.

[deathb4disco]

An investment in a well known and established crypto really isn't any different than stock in a company IMO.

I disagree. Bitcoin is "a well known and established crypto", and it's only been around for about twelve years. We have stock market returns, OTOH, for at least two hundred years. When you buy a stock, you're buying part of a company. That company will have earnings and pay dividends. You can buy their products or use their services. It's a much more tangible investment than cryptocurrency.

Investing in whatever coin is hot at the moment is essentially gambling ...

Agree with that.

...crypto is a lot more volatile than the stock market.

Agree with that, too.

If you invest in crypto, I would make it a small portion of your portfolio. Caveat emptor.

[DockShootinJack]

I totally agree with you on the real estate thing. I see people paying 300,000 for homes that use to cost about 150 thousand or less. Once the market settles and lumber prices go down, so will the value of those homes. In the past real estate was always the way to go, and it will be again in the future, however I'm not going to risk an investment in real estate right now.

That is going to terrible for those saddled with that debt when the housing market corrects

[paleus]

The Cash App is a great way to get into investing in the stock market. Super easy. Very little fees. You can also buy Bitcoin on the app.