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05-06-2007, 05:21 PM
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#1 (permalink)
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Junior Member
Location: San Diego CA
Total Points: 1,039.00
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What should i do with 10k-15k?
Hello I am 19 years old and I am a management science major at UCSD. I am currently doing an internhip and saving money. By the end of the summer I should have anywhere from 10-15k. My question is what should I do with it? I dont want to put it in an account and just slowly make interest on it. Because even with a 10% rate ill only make about 1500 a year. What should I do with it? I was thinking about buying cars from auctions and reselling. Is this a good idea? Any other suggestions? Feel free to answer here or through PM. Any help is appreciated thanks!
-Matt
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05-06-2007, 05:22 PM
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#2 (permalink)
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Banned
Location: USA
Total Points: 1,154.00
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Real Estate
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05-06-2007, 05:33 PM
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#3 (permalink)
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Junior Member
Location: San Diego CA
Total Points: 1,039.00
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What can i do in real-estate with such little money?
-Matt
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05-06-2007, 05:35 PM
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#4 (permalink)
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Senior Member
Location: Ft. Wayne, Indiana
Total Points: 4,466.72
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Put it into stocks, let it grow over the years. Just make wise decisions though.
__________________
“Formal education will make you a living; self-education will make you a fortune.”
-Jim Rohn
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05-06-2007, 05:42 PM
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#5 (permalink)
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Senior Member
Location: Brisbane, Australia
Total Points: 2,856.88
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Buying cars at auctions is not too profitable unless you have a car sales lisence, which allows you to get into auctions where cars are sold in bigger lots and at much cheaper prices, hence where a lot of used car salesmen make their money.
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05-06-2007, 05:53 PM
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#6 (permalink)
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Junior Member
Location: San Diego CA
Total Points: 1,039.00
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really?^ thanx for the heads up, any other ideas of what i should do with it. Thanx for the stocks idea^ but again that is something that really takes too long to turn into anything. Especially if i invest in the blue chip stocks. I honestly want something thats gonna keep me busy so I can learn things about the business world, and make me profit in the process. I'd like to turn my 10-15k into enough to invest into real-estate...
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05-06-2007, 08:12 PM
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#7 (permalink)
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Senior Member
Location: Silicon Valley
Total Points: 3,454.28
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There is no leverage in stocks.
With $10,000 in real estate you can contorl $100,000.00 in real estate.
Would you rather gain 10% ROI on ur small 10k, or 10% ROI on 100k?
Want to get rich fast, or get rich slow?
Want to have LEVERAGE, or don't have LEVERAGE.
Invest, LEVERAGE. Buy abunch of books with some of it.
__________________
Hi there! My name is Wes Mahler, I'm a Silicon Valley Internet Entrepreneur and Real Estate Investor. I'm going to build a highly scalable world class internet company from zero to one million dollars a year in sales. From testimonials and personal experiences, we know what is possible, is possible for us.
http://wesmahler.com
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05-06-2007, 08:14 PM
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#8 (permalink)
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Junior Member
Location: Portland, OR
Total Points: 297.00
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Quote:
Originally Posted by kazisdaman
There is no leverage in stocks.
With $10,000 in real estate you can contorl $100,000.00 in real estate.
Would you rather gain 10% ROI on ur small 10k, or 10% ROI on 100k?
Want to get rich fast, or get rich slow?
Want to have LEVERAGE, or don't have LEVERAGE.
Invest, LEVERAGE. Buy abunch of books with some of it.
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Well said, took the words right out of my mouth!
__________________
"Drive thy business or it will drive thee."
-Benjamin Franklin
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05-06-2007, 08:16 PM
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#9 (permalink)
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Senior Member
Location: Ft. Wayne, Indiana
Total Points: 4,466.72
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Whats he going to purchase with 15k in the San Diego real estate market?
He wants quick gains, it's possible in stocks, but you have to invest on a riskier level. Throw some in a CD or maybe Tax Lien Certificate (little more riskier as well though).
__________________
“Formal education will make you a living; self-education will make you a fortune.”
-Jim Rohn
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05-06-2007, 10:09 PM
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#10 (permalink)
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Senior Member
Location: Silicon Valley
Total Points: 3,454.28
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I see whatcha mean, how could he afford real estate where he is.
But you don't have to buy real estate where you live.
__________________
Hi there! My name is Wes Mahler, I'm a Silicon Valley Internet Entrepreneur and Real Estate Investor. I'm going to build a highly scalable world class internet company from zero to one million dollars a year in sales. From testimonials and personal experiences, we know what is possible, is possible for us.
http://wesmahler.com
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05-06-2007, 10:30 PM
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#11 (permalink)
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Junior Member
Location: San Diego CA
Total Points: 1,039.00
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