best way to make your money grow (1 Viewer)

[hiphophorray123]

so what do people think is the best way to make your money grow, and i mean GROW

 

[Cape]

Firstly, not spend it and keep away from shopping centres

but i put all my money into a credit union. I don't have very much so its hasn't really GROWN yet.

 

[Vangineer]

so what do people think is the best way to make your money grow, and i mean GROW

Firstly, you need money........
which i dont have, sighs

 

[thejosiekiller]

well it has been said u need money to make money

but what ammounts r we talking here?

how much would it cost to et involved in property, franchise and other developments?

 

[vTr]

try bout 50k solid cash could start making money for you :/

 

[SashatheMan]

try bout 50k solid cash could start making money for you :/

50k of cash and good income , then u can get a good loan.

 

[hiphophorray123]

what if you had something like 250 k....what would u do with it

 

[thejosiekiller]

id buy a pub in the city

 

[mr_brightside]

i reckon trading shares is the best..cause if u know what your doing you can start of with $10 and end up with heaps....

 

[thejosiekiller]

but then u can drink the profits for the rest of ur life

ive always wanted to own a pub

 

[rumour]

Stock Market!!!!!!!!!!!!!!!!!!

 

[beccabum]

Property, esp in growth areas - the city or the coast. Land value won't suddenly drop like shares can, plus you're earning a few hundred per week just for owning it. Put the rent collected into one of those special savings accounts where you get heaps of interest for depositing lots and not withdrawing any.

 

[Phanatical]

When I have more money, I plan to invest in a series of restaurants.

 

[Arvin Sloane]

Two words: Trust fund.

 

[Not-That-Bright]

are u serious? 800k with views of the harbour?

 

[Not-That-Bright]

yea well we have views of the city from like a big hill... with our house and that it's costing over a mil and like... We can't even see the harbour we can just see pretty buildings from far off lol

That is pretty damn good for sydney harbour.

 

[Soma]

I would not invest in strata real estate at the moment, prices are dropping rapidly as supply vastly exceeds demand and some apartments are so shoddily built that in 10 they will continue to decrease in value (Harry Trigaboff is notorious for poor quality apartments).

Truly the best way to make money is to diversify your portfolio, people think property is the best option but there is no way that anyone here would be able to service a good loan, even if they have the capital for a substantial deposit. Plus there is no way you can find a positively geared property in the city, which means you lose money until you sell the property or pay most of it off and with the property market set to burst it's debatable even how much capital gains there is to be made. Plus if you dont live in the property for a substantial period of time you have to pay capital gains taxes which essentially takes away half of your profit.

 

[Not-That-Bright]

I think for a 20-25 year old it's either...
a) be a doctor
b) own a business
c) work your ass off

 

[mr_brightside]

yes property is good for making cash grow, but were do u get 500k in the first place to invest in somewhere where people will want to rent?

 

[Not-That-Bright]

not many people have 500k, unless a relative just died or they just got a compensation payout.

for $200,000 u can buy a small piece of land in a developing suburb and put a cheap as chips house on it... which is what most developers have kinda been doing for ages now, cept the bubble is starting to... deflate.