Ok guys, here is a money question for you.

[SSI]

have 150k in cash, need to make 2% a month on it.. best options? no jokes, please...

just looking for some new ideas.. or old ones with a different light shed upon them..

 

[JimmyHoffa]

Long term CDs. Guaranteed 2% plus income monthly.

 

[SSI]

explain Jimmy...

i know what CD's are, actually have the money sitting in them right now but only getting a little over 4% a year..

what are longterm CD's and do they really pay 2% a month, if so--who do i contact, that sounds great...

 

[Phigment]

Long term CDs. Guaranteed 2% plus income monthly.

A bank's CD rates are quoted on an annual basis so you would not be getting 2% a month.

 

[SSI]

thats what i thought,,, 4.5yr is about the best that i found.. far cry from 2% a month..

 

[jwunderdog]

You want to make 36% a year compounded monthly > GL

 

[SSI]

yes but looking at all avenues, jh just mentioned cd's.. i can loan it out and get this but unsure of holding this much cash at my location..

 

[D2bets]

have 150k in cash, need to make 2% a month on it.. best options? no jokes, please...

just looking for some new ideas.. or old ones with a different light shed upon them..

Scalping. If you're willing to work 2-3 hours/week for it.

 

[SSI]

i thought of that D2, but how much of the 150k would need to go offshore at once,, currently only run about 10k offshore, split between pinny and oly only..

 

[SSI]

i could also build 2 duplexes, i own the lot already,, my cousin is a contractor also.. this would run me about 150k (paid in full) and would return around 2k per month but this doesnt get me to the required 3k -- that im looking for..


comments appreciated..

 

[JimmyHoffa]

Misread your 2% MONTHLY question...

Much money to be made in private equity lending. Basicly privately financing second mortgages. This is lending to homeowners at higher than bank rates who can't qualify for bank loans, but the loan is secured by the home. This does entail dealing with somewhat desperate people who in some cases end up in forclosure. When forclosing a home is when your work gets untidy...

 

[Phigment]

Scalping. If you're willing to work 2-3 hours/week for it.

Scalping keeps seeming to be something I'd like to pursue but I need more details. Are the experienced scalpers here taking an early week position then hoping the line moves late in the week for the scalp or is it a simultaneous event? If so, what site(s) are you watching line movements on?

 

[SSI]

Jimmy, ive got a friend that does this, he can get 10% yr out of them..

building spec houses is also an option but getting stuck with them is a problem..

will be out for a few hours, please continue with the suggestions..

150k -- need 2% monthly or 24%yr...

so far the 2 duplexes get me the closest..

 

[WorldNumberOne]

Misread your 2% MONTHLY question...

Much money to be made in private equity lending. Basicly privately financing second mortgages. This is lending to homeowners at higher than bank rates who can't qualify for bank loans, but the loan is secured by the home. This does entail dealing with somewhat desperate people who in some cases end up in forclosure. When forclosing a home is when your work gets untidy...

this is what i would do.. talk to a few real estate agents in town . let them know you have some money to lend .

see if anybody you know happens to know someone in the banking industry real well.. get your name out there .

 

[Phigment]

Misread your 2% MONTHLY question...

Much money to be made in private equity lending. Basicly privately financing second mortgages. This is lending to homeowners at higher than bank rates who can't qualify for bank loans, but the loan is secured by the home. This does entail dealing with somewhat desperate people who in some cases end up in forclosure. When forclosing a home is when your work gets untidy...

Still not going to approach 2% monthly with hard money lending and there are barriers to entry into the market (bank regulations and usury laws).

 

[JimmyHoffa]

this is what i would do.. talk to a few real estate agents in town . let them know you have some money to lend .

see if anybody you know happens to know someone in the banking industry real well.. get your name out there .

Correct. My grandfather did real well in private equity lending. He had a partner who ran a real estate firm. They ended up flipping alot of the homes due to forclosures but there is money to be made doing that as well.

 

[WorldNumberOne]

is the lot big enough for a triplex ?

rent out 3 places for a grand a month.. places will be worth 150 grand each in 10 years

 

[Anonymous1]

2% pre tax...maybe you should look at tax free bonds..even 6 month treasuries maybe useful...

 

[wantitall4moi]

Even scalping isn't going to guarantee 2% a month, especially if you are new at it.


Suprised no one suggested starting a local post up book. That opens up a lot of options for you. Either booking them yourself, or laying off at a premium through some offshore books.

150k is more than enough to start a post up shop. Granted, most guys don't like to post up, but credit shops are hard, and a couple deadbeats kill your expectations for the most part, especially if you are laying it off.

Also real extate and rentals is no guarantee. Again,a couple dead beats that can't pay theeir rent will catch up with you.

I am doing that now, and trust me the laws, insurance, and technicalities don't make it worth it. Even in Cal where you can get 2500-3000 a month for a decent 3 bedroom in some neighborhoods.

Get an accountant.

 

[Wrigley]

Should of bought Google stock at $100, 14 months ago would of bought you 1500 shares and be worth 510,000 today based on $340 stock price.

Any other Googles out there?