What would you do with $10,000?

[Nayr438]

For $10K I would buy a small run down bank repo home that still considered somewhat livable. What I would save on not having Rent and inefficient hvac, I could put into the house for repairs. You might be surprised how cheap you can get houses in the U.S. if you know where to look and how little they often cost to repair if you can do the work yourself and don't focus on having the best of the best. A nice long term investment with a rough start.

[Guest willies leg]

Invest it, buy something with the returns.

[Donut417]

22 minutes ago, Nayr438 said:

For $10K I would buy a small run down bank repo home that still considered somewhat livable. What I would save on not having Rent and inefficient hvac, I could put into the house for repairs. You might be surprised how cheap you can get houses in the U.S. if you know where to look and how little they often cost to repair if you can do the work yourself and don't focus on having the best of the best. A nice long term investment with a rough start.

In my area fixer uppers go for like $100K. The flipper specials go for $30K and probably are gutted. 

[Nayr438]

28 minutes ago, Donut417 said:

In my area fixer uppers go for like $100K. The flipper specials go for $30K and probably are gutted. 

That sucks. Around where I am at, it's not hard to find homes for around $10K - $20K at Auction, which anyone hardly anyone bids on often with no bidders resulting repeat Auctions, some even make it to local marketplaces for a short period of time. Many of them that do sell end up getting turned into low income Rental Properties. I'm actually looking at a local listing right now for $10k that would only need around $3k in repairs.

One thing to note is you probably won't find them unless your looking in just the right places and they are usually minimally visible foreclosures. I do work on a lot of these properties so I tend to know where they will be and when as well as the cost associated with usually repairing them. Even in a mostly gutted house however, the cost to bring it back isn't usually that bad. Id say that most of the houses I work in would require less than $5k of materials with some of the worse being closer to $10k - $15k, but if your hiring contractors that could easily skyrocket.

 

Of course location is everything and can have a big impact on availability, cost, building codes (like requiring a licensed contractor to do something), and whether or not you would even consider living there. Even the one above is located in some small town out in the middle of nowhere, but I travel all over 2 states and work out of my home and vehicle, so that's not a issue at least for me.

[Stahlmann]

Probably use it to pay off my car, the rest would go into home renovations. I'm pretty well equipped when it comes to entertainment tech as it is.

[IPD]

4 hours ago, Nayr438 said:

That sucks. Around where I am at, it's not hard to find homes for around $10K - $20K at Auction, which anyone hardly anyone bids on often with no bidders resulting repeat Auctions, some even make it to local marketplaces for a short period of time. Many of them that do sell end up getting turned into low income Rental Properties. I'm actually looking at a local listing right now for $10k that would only need around $3k in repairs.

One thing to note is you probably won't find them unless your looking in just the right places and they are usually minimally visible foreclosures. I do work on a lot of these properties so I tend to know where they will be and when as well as the cost associated with usually repairing them. Even in a mostly gutted house however, the cost to bring it back isn't usually that bad. Id say that most of the houses I work in would require less than $5k of materials with some of the worse being closer to $10k - $15k, but if your hiring contractors that could easily skyrocket.

 

Of course location is everything and can have a big impact on availability, cost, building codes (like requiring a licensed contractor to do something), and whether or not you would even consider living there. Even the one above is located in some small town out in the middle of nowhere, but I travel all over 2 states and work out of my home and vehicle, so that's not a issue at least for me.

Other than living in a 25 year old single-wide trailer, I have no idea wtf you would find things in your price range.  Unless you are living in bumfawk WV or somehere in the deep backwoods.  Iny current area, 50 grand is about minimum for fixer-upper.  In UT it was even worse, as I had to move up to the 200k range to find something livable. 

[Chinupofficial1]

100% I'd get a 3090 and put the rest towards a 2 story garage where I can work on cars and have an upstairs area to game, record, and live

[PianoPlayer88Key]

16 hours ago, Donut417 said:

In my area fixer uppers go for like $100K. The flipper specials go for $30K and probably are gutted. 

where I live (near San Diego) I've seen fixer uppers for like $500-600K  (well they're semi livable, but need some work; the gutted ones might still be like 300-400K though I think.)  A bit farther north in the same state (California, near San Francisco bay area) I've heard of fixers going for upwards of 7-digit prices.in some places.  

[IPD]

19 hours ago, Chinupofficial1 said:

100% I'd get a 3090 and put the rest towards a 2 story garage where I can work on cars and have an upstairs area to game, record, and live

That's like a drop in the bucket for a building like that.  10k doesn't even scratch the surface on a 2 story shed.

[IPD]

1 hour ago, vinikir said:

I think I would have invested that money in tuning my car.

Could just sell the MKIV Supra and get literally anything else--and have money leftover to tune.

[XGoodGuyFitz]

55 minutes ago, IPD said:

Could just sell the MKIV Supra and get literally anything else--and have money leftover to tune.

Sell the mk4, buy a mk3, widebody, tune, and you will be a unique supra person. 

[Gegger]

a bunch of fountain pens, ink, paper

 

invest a bit, throw the rest at school and charity

[Donut417]

On 12/17/2021 at 9:24 AM, IPD said:

That's like a drop in the bucket for a building like that.  10k doesn't even scratch the surface on a 2 story shed.

We just got a car and a half garage built. $30k and thats without electrical. We wont know what that costs until next year. 

 

Ive been looking at those office sheds and those are easily $20K+. 

[adarw]

On 12/16/2021 at 8:21 AM, Nayr438 said:

That sucks. Around where I am at, it's not hard to find homes for around $10K - $20K at Auction, which anyone hardly anyone bids on often with no bidders resulting repeat Auctions, some even make it to local marketplaces for a short period of time. Many of them that do sell end up getting turned into low income Rental Properties. I'm actually looking at a local listing right now for $10k that would only need around $3k in repairs.

One thing to note is you probably won't find them unless your looking in just the right places and they are usually minimally visible foreclosures. I do work on a lot of these properties so I tend to know where they will be and when as well as the cost associated with usually repairing them. Even in a mostly gutted house however, the cost to bring it back isn't usually that bad. Id say that most of the houses I work in would require less than $5k of materials with some of the worse being closer to $10k - $15k, but if your hiring contractors that could easily skyrocket.

 

Of course location is everything and can have a big impact on availability, cost, building codes (like requiring a licensed contractor to do something), and whether or not you would even consider living there. Even the one above is located in some small town out in the middle of nowhere, but I travel all over 2 states and work out of my home and vehicle, so that's not a issue at least for me.

where do you live lol? 20k is rent for a year if your lucky....