Where to "park" your rainy fund?

[Dexman PE PMP]

I signed the paperwork yesterday to start my first real estate partnership deal. By this time next week I will be a partial owner of a rental property...

 

[pbrme]

good luck with that Dex. What sort? Duplex, single residence, time share?

 

[Capt Worley PE]

Dex is a slumlord!

 

[cdcengineer]

Rental property is only good when the tenant pays the rent and never calls with problems. Otherwise it'll keep you up at night.

 

[Lumber Jim]

Congrats Dex!

You are doing this with completely with Rainy day money or is the rainy day money down payment?

 

[Dexman PE PMP]

It's some extra cash I had from selling off some of my junk. The hope is that the equity in the property will become another part of the retirement fund.

 

[knight1fox3]

Congrats Dex, and good luck! :thumbs:

 

[Capt Worley PE]

Karen?

It's some extra cash I had from selling off some of my junk.

 

[Judowolf PE]

It's some extra cash I had from selling off some of my junk. The hope is that the equity in the property will become another part of the retirement fund.

Prostitution? The man has serious talent, who knew??

 

[Dexman PE PMP]

As part of being a slumlord, I figured I should at least learn the lifestyle of my tennants...

 

[pbrme]

^Reminded me of Kingpin

 

[envirotex]

You could always invest in boobs...

Unfortunately, once you buy one set, you can't really buy any more without losing 1/2 of what you have to the 1st set through the divorce...

I would say that any money invested in those types of assets would probably have a good return...just as long as you have a good marketing strategy.

 

[mevans154]

I'm thinking about investing some money in Lendingclub.com.

Does anyone have any experience with them?

 

[mudpuppy]

I'm thinking about investing some money in Lendingclub.com. Does anyone have any experience with them?

I've been intrigued by this idea for several years, but I haven't taken the plunge. Would be interested to hear how it goes.

 

[wilheldp_PE]

I have a couple of friends that have invested in LendingClub. They tried a mix of the C to D rated loans that have higher returns (with higher risk of default). One early complaint is that there are not very many loan requests and they take a while to fill, so your money isn't actually "invested" for a significant amount of time after you fund the account. Neither of them have started getting returns yet, so other than the early complaint, I have nothing to report.

 

[mevans154]

I just invested $500 in Lendingclub over the weekend. I live in NJ so I can't fund new loans directly, but there is a pretty active secondary market of people buying and selling loan notes. I was able to spread out my $500 over 29 different loans. I mainly picked C & D rated loans, which yield between 12% to 16% returns.

Nothing to do now, but sit back and watch the results...

 

[Dexman PE PMP]

So, to bump an old thread...

I purchased a pair of tax lien certificates back in Nov 2010 for unpaid property taxes from 2009. Well, I got a letter from the County yesterday saying that the redemption period is almost done (the required "wait" time to give the property owners a chance to repay their back taxes before I file takeover paperwork), and I can go ahead and file for a treasurer's deed. I'm both nervous and excited over the fact that I stand a chance to get a $30k+ condo for only a ~$1400 investment...

I will post more details on how things go once I submit the paperwork...

 

[snickerd3]

mr snick has been watching the jim cramer mad moeny show of late to try his hand in the stock market. so far the recommendations have been paying off. There was an energy exploration company ( i don't recall the name) that is doing amazingly well. and he just bought some BP stock since they are in the low end of their cyclic nature. Apparently if they hold true to course come spring time there will be a nice prize at the end...and if not the diviends would have earned us about $100 or so.