What would you do if you had $100K in cash right now?

[Andreas Lilja]

Rainy day fund.

[Canada EH]

7 hours ago, Eduard the weeb said:

Buy a condo 

There are condo fees, usually $250cdn/m on up. If you realize that $600 a month gets you $100K mortgage (int+principle) CDN$. Then realize if the condo reserve fund depletes, you are out of pocket paying cash. So what I am saying is condo fee takes away $50K of house! And condos reserve fun depletes frequently! Better to buy a FREEHOLD house, then rent out rooms for $500+/m, pack in 3 or 4 rooms in the basement, easy money!

 

Some condo's have free utilities, I have seen them on www.realtor.ca in my city. Can you say giga MINING!!!!!!!!!

 

 

6 hours ago, dalekphalm said:

condo

In Calgary condos seem to range from the low end $150K (China town, and some major condo plexes, end of lrt line south) to an average of $225-$300K

 

Duplexes depending on the area can be $200K-$300K average and they can be freehold or condo fee.

 

Houses $325K on the low end average.

 

Scummy neighborhoods like Forest Lawn, Dover, to Marlborough on North are UBER CHEAP!

But you can find some deals, for $350K can buy a nice single story house, occasionally a two story house, which is what you'd want.

Like I said mortgage rules have changed, but 5% down in cash, and a good interest rate of 3-3.5%

 

You could also buy a grow op house, usually $100-$150K off the retail price, but that houses title is labelled forever as being a grow op house. Excellent rental opportunity if you have construction experience.

 

[TheKDub]

Spend up to around $20,000 to get a better (used) car, upgrade my rig, replace my laptop, replace misc. furniture, etc... Then dump the remaining $80,000+ into savings and investments.

 

Then just slowly feed off the money I put away so I don't have to continue killing myself with a full time job while also going to college full time.

[Donut417]

Pay off my student loans and buy a car with what is left. 

[Canada EH]

Oh I just thought of something

 

How about starting a "legal" weed growing business, its the in thing now a days.

[Donut417]

20 minutes ago, Canada EH said:

Oh I just thought of something

 

How about starting a "legal" weed growing business, its the in thing now a days.

Depending on where you live, its the thing. 

[Canada EH]

Just now, Donut417 said:

Depending on where you live, its the thing. 

It is a guaranteed money maker!

[Mug]

I don't think it's worth investing in property in the UK at the moment, except where house prices are exceptionally low. Besides, you're going to need a deposit greater than 10% to buy a house unless by some miracle you have amazing credit. If I was to invest it in property, I'd buy a georgian mansion and split it up into houses and apartments. Like a 4-storey house could make loads of money here if you converted it into a split basement and ground floor flat with a second and third floor maisonette. A dilapidated one would set you back £400k (but that's crack den dilapidated). 

 

I do think that American companies are a good investment, protectionism will strengthen their grip on trade and their value will go up in the medium term. Long-term sustainability is worrying though. Just think, 20% of the economy is healthcare - that's unsustainable; it'll collapse in the medium to long term, at least as soon as a candidate that proposes an affordable healthcare policy gets elected. Once a certain president has been thrown out of office there'll be an end to protectionism and suddenly US companies will lose their grip on the market.

 

And expensive computers are a waste of money.

 

On 1/22/2018 at 3:53 AM, Bhav said:

If I had $100k in cash right now it would be a terrible thing.

 

Firstly, it's hardly enough to buy a decent new build house in the UK.

 

Secondly, I would no longer be eligible for the new build council house I'm getting because I would have too much money.

 

Even if it was enough to buy a decent house, I'd have to start over again with finding another one, and it would be even harder to find a site better, or even as good as the one Im getting my poor persons house on, and also the normal houses on this site are all massive detached houses starting at £250k, while the last of the council houses I managed to secure was only £60k, and you need to be unable to afford to buy a house outright to be eligible.

 

So with $100,000, I'd actually be pretty darn screwed. Also it would severely complicate my disability benefits even more so than the housing situation already described above.

It is enough to buy a new-build flat in the UK, just not in areas that most people want to live in. For example, there are really nice industrial-era terraces going for as little as £10k in some parts of the country. Admittedly you'll have to do a lot of work on the properties, but Liverpool, Stoke, Teesside, Blackpool and Birkenhead have loads on offer. 

 

Also, as soon as you've spent your £100k, you'll be able to keep your disability benefit as is iirc. I doubt you'd qualify for housing benefit though.

[Aeternalis]

Spend enough to make a high end build and invest the rest/put it into a savings account. That way I have fallback for potential emergencies and can use the rest to hopefully get more money.

[Bhav]

5 hours ago, Mug said:

I don't think it's worth investing in property in the UK at the moment, except where house prices are exceptionally low. Besides, you're going to need a deposit greater than 10% to buy a house unless by some miracle you have amazing credit. If I was to invest it in property, I'd buy a georgian mansion and split it up into houses and apartments. Like a 4-storey house could make loads of money here if you converted it into a split basement and ground floor flat with a second and third floor maisonette. A dilapidated one would set you back £400k (but that's crack den dilapidated). 

 

I do think that American companies are a good investment, protectionism will strengthen their grip on trade and their value will go up in the medium term. Long-term sustainability is worrying though. Just think, 20% of the economy is healthcare - that's unsustainable; it'll collapse in the medium to long term, at least as soon as a candidate that proposes an affordable healthcare policy gets elected. Once a certain president has been thrown out of office there'll be an end to protectionism and suddenly US companies will lose their grip on the market.

 

And expensive computers are a waste of money.

 

It is enough to buy a new-build flat in the UK, just not in areas that most people want to live in. For example, there are really nice industrial-era terraces going for as little as £10k in some parts of the country. Admittedly you'll have to do a lot of work on the properties, but Liverpool, Stoke, Teesside, Blackpool and Birkenhead have loads on offer. 

 

Also, as soon as you've spent your £100k, you'll be able to keep your disability benefit as is iirc. I doubt you'd qualify for housing benefit though.

Ewwwwwwwww flat.

 

No. And of you buy 100% of a property on mortgage you don't get any housing benefit.

 

Currently I'll get housing benefit or UC for the rent on the remaining 50%, and a total of 50%/off the council tax - 25% each for disability and single occupier, though with a 9 month waiting time on an application for a new property now. The house will end up costing me next to nothing, and I only managed to find a total of 3 banks after ages of searching that accept long tern benefits for mortgages, though as expected its only enough for a shared ownership or an old build at a price so dodgy there's bound to be something wrong.

 

And then with shared ownership there's maybe a maximum of 5 new properties in my county I can afford per year, and I had to compete with all the low income people popping out kids they can't afford for them. Took absolutely bloody ages to get one.

[LienusLateTips]

Take that and put it into a down payment for a newer house

 

Also buy a $1000 PC since my PC currently plays 1080 30fps Ultra Low no shaders

[IgnorantBastrd]

Down payment on a house, invest a decent chunk, then buy a better car than the one I got right now. 

[Canada EH]

why not spend some on hookers, legal of course

[Donut417]

1 minute ago, Canada EH said:

why not spend some on hookers, legal of course

Plenty to choose from in Vegas . They hand out cards on the strip at night. Got me a nice collection as a souvenir. With pictures and phone numbers. 

[Canada EH]

35 minutes ago, Donut417 said:

Plenty to choose from in Vegas . They hand out cards on the strip at night. Got me a nice collection as a souvenir. With pictures and phone numbers. 

yeah but you dont wanna waste money on bail and lawyers, gotta be legal.

[Donut417]

Just now, Canada EH said:

yeah but you dont wanna waste money on bail and lawyers, gotta be legal.

It is legal in Vegas. Just not legal for them to get business on the strip. Thats why they hand out business cards with pictures and numbers on them. 

[Canada EH]

What happens in Vegas, stays in Vegas

[Donut417]

6 minutes ago, valdyrgramr said:

Go to taco bell and get fat again.

$100k for Taco Bell check. Having a bad case of the shits, priceless. 

[Gix7Fifty]

1 hour ago, Canada EH said:

What happens in Vegas, stays in Vegas

Except for STD's, bed bugs, paternity and sexual harassment suits. Among other things.

[TacticlTwinkie]

Pay off my credit card, buy myself a new car (something reasonable, like in the $30k range) save enough to pay for university, and put the rest of it up my nose.

[FlatBrokeRacing]

Finish the upgrades on the street car (new engine, upgrade trans, replace some suspension components, and new fuel system), after that absorbs a decent amount,  Hookers and blow, although i wouldnt really say hookers, more like gold diggers at a bar and then continue living life normally

[Guest]

I’d put it in the bank and forget it’s there because I don’t know what to spend money on. 

[Drak3]

Can I change my answer to more gun parts and accessories?

[JohnVHSTapes]

I would buy a nice hybrid car, and then a boosted board. After that I would put the remaining 75% into an savings account and the last 25% into my bank account.

[Canada EH]

11 hours ago, Gix7Fifty said:

Except for STD's, bed bugs, paternity and sexual harassment suits. Among other things.

And shootings

I find it disturbing that there has been no official info. Its just the norm!