Age 19, looking to invest

[NoTalent]

I recommend doing what Work4Fish420 says--invest it all in the flordia real estate market.

[Work4Fish420]

NO WAY INVEST IT ALL IN FLORIDA. That is still kinda risky right now. That is what I've been vested in the last few years and is scary with the oversupply right now. I advice a good mix between land and other stuff. My short term goal is to have about 1/3 invested in FL real estate, 1/3 liquid tools (like CD/Cash, mutual, maybe a few stocks to trade, etc.) The rest remainding 33% will be .....well....poker, but don't think the fiance will like that too much [img]/images/graemlins/smile.gif[/img]

[koffeliane]

[ QUOTE ]
NO WAY INVEST IT ALL IN FLORIDA. That is still kinda risky right now. That is what I've been vested in the last few years and is scary with the oversupply right now. I advice a good mix between land and other stuff. My short term goal is to have about 1/3 invested in FL real estate, 1/3 liquid tools (like CD/Cash, mutual, maybe a few stocks to trade, etc.) The rest remainding 33% will be .....well....poker, but don't think the fiance will like that too much [img]/images/graemlins/smile.gif[/img]

[/ QUOTE ]

Could you point us to some relevant sitse where lots are for sale?

[MYNAMEIZGREG]

Thanks for the responses. Only recently have I been playing enough/good enough to make this kind of money/month, but it will be standard.

I am going to look into Emigrant, but my Dad gets P plus 1 on withdraw-at-any time loans with his company so I might put my money there for now since P=8.

I am a little hesitant to start investing in real estate in other states (I don't know enough about it and it looks like a shot in the dark due to my lack of knowledge). Is there any way you could provide more relevant links Work4Fish? Thanks for the responses.

[Work4Fish420]

I am a real estate agent, and cover most of the SE coast of FL. If anyone is interested in some custom tailored lot links for specific areas, email me at [email protected] . I have a business email also, but I'd rather not post it here. For staters, I both bought and sold lots to these peeps (all of my investment thus far has been either in Palm Bay or Ocala/Marion Oaks or Silver Springs Shores)....

http://www.stlucieland.com/

Currently, now that lots have gone WAY down, I'd stay away from the center/rural areas of FL and think Palm Bay at $25k a lot is a steal.

This site is ok, but lots seem to be a little more pricier than average...

http://www.stlucielots.com/

http://www.vacantlotsales.com/

[Work4Fish420]

Or....if you want something shorter term and liquid, can always just bottom-fish and trade the homebuilder stocks instead. I just got back into the market last week after a year hiatus..just a few G in margin account for some extra play money. But, my favorite builders now are DR Horton (DHI) and Lennar (LEN). I think most or all of the bad news is reflected in the beatdown in price, and they are already starting to form a base and creep up again. DHI at $23-$25 and LEN anywhere between $45-$50 should be fine. Any good news that comes out from here should help drift them back to highs...especially if sales start to pick up again in 2007. In my markets, I am seeing signs of at least a bottom and some buyers are returning, which has to be somewhat good news.

[gonebroke]

[ QUOTE ]
Or....if you want something shorter term and liquid, can always just bottom-fish and trade the homebuilder stocks instead. I just got back into the market last week after a year hiatus..just a few G in margin account for some extra play money. But, my favorite builders now are DR Horton (DHI) and Lennar (LEN). I think most or all of the bad news is reflected in the beatdown in price, and they are already starting to form a base and creep up again. DHI at $23-$25 and LEN anywhere between $45-$50 should be fine. Any good news that comes out from here should help drift them back to highs...especially if sales start to pick up again in 2007. In my markets, I am seeing signs of at least a bottom and some buyers are returning, which has to be somewhat good news.

[/ QUOTE ]

No offense, but realtors are usually the last to know when a real estate market tops. I am heavily short on those two stocks, also Centex. One of them or more will probably file for bankruptcy before the end of the decade.

[Scorpion Man]

[ QUOTE ]
Thanks for the responses. Only recently have I been playing enough/good enough to make this kind of money/month, but it will be standard.

I am going to look into Emigrant, but my Dad gets P plus 1 on withdraw-at-any time loans with his company so I might put my money there for now since P=8.

I am a little hesitant to start investing in real estate in other states (I don't know enough about it and it looks like a shot in the dark due to my lack of knowledge). Is there any way you could provide more relevant links Work4Fish? Thanks for the responses.

[/ QUOTE ]

Don't listen to Work4fish. He is giving you terrible advice for your situation. THis is why you need a financial advisor...it will cost you something but you need the education.

Also -- what does you dad's company do and how big is it? It is not a no brainer that those loans are safe.

[hanster]

Listen to Scorpion Man. He knows what he's doing. Before I even read his post I did not get a good enough vibe from the previous responses. First, putting money in municipal bonds + CD just because it's safe is not smart because you're losing value. Second, you are not looking for long-term investment with IRA which you can take out when you're 59 1/2 (Roth IRA is the better one, there are several types). At the age of 19, you will not be getting your money's worth from a financial advisor who you pulled out from a website/yellowbook. A SOLID referral would be fine. Mutual fund would be the best way to go for you if you really want to "play it safe", per se. I'd suggest you to read some books, browse around the forum a bit to see some posts from Sniper or El Diablo.

BTW, 19 year old + 15k does not get you the real estate that you want. A hole in a wall would be an actual description of the place you're buying.

Hope this helps. [img]/images/graemlins/smile.gif[/img]

[gull]

[ QUOTE ]
Don't listen to Work4fish. He is giving you terrible advice for your situation.

[/ QUOTE ]

Thirded.


To answer your second question: in terms of stocks, you should look into investing with index funds.

Also, if it's possible put as much as you can into a Roth IRA. You essentially get to skip paying taxes on your gains. With a Roth IRA, you can withdraw your principle at any time (up to the amount you've put into it). Only your gains are not withdrawable penalty-free.