I am 18, and am inheriting k from a grandparent, I have no expenses and no high paying job, and would like to put the money to work for me so when I graduate college in 3 years I have something to build on. Buying objects seems pointless, and the banks don’t pay very much interest, does anyone have any ideas or opinions? I was seriously considering buying a rental property in an area like Phoenix, that I could buy flat out and get 0 a month from.
Thank you all for the answers you have given me so far. I have been consulting with my parents and they have said they would be willing to cosign on a loan, so I could potentially spend up to 0k. Right now I am seriously considering a rental property, it seems like the best route to a good return, versus 2-5% interest and no equity. Plus, the housing market is rock bottom right now.

I can buy a fourplex with 30% down, that grosses about k a month, and after paying a property manager, the loan, utilities, I would net about k a month. Not bad. And in 3-4 years I could use the equity and profit to do it again.

i’ve signed a contract for a new home in phoenix arizona back in january. now with the mortgage rate climbing and the housing market cooling (quite rapid here in phoenix), i’m worried the value will drop and i’ll end up losing money. (the house i looked at was going for less than 20 grand three years ago and when i signed the contract, the price was at almost 30 grand) Should I try to back out on the contract and lose the deposit, which is a whopping 5 grand, or should i just go ahead and close on this house even if i don’t feel right? and is it too late to negotiate the price of the house since i’ve already signed a contract? it’s a new home that’s being built, so i don’t know if a negotiation is an option at all.. but any experts out there, please help.. any advise will be greatly appreciated..
oh my gosh, i meant to say 200K and 300K.. yeah.. i guess you really can’t buy even a piece of land with that money.. ^^ anyways, i meant that if i were to buy a house exactly like the one that is being built, then it would have cost me around 200k instead of 300k three years ago.. that’s what i was trying to say.. ^^

looking to buy a new home in southern phoenix area, near dobbins road.. with the current unstable housing market, i don’t know if i should wait on buying and just rent for few more years or just buy. what should i do?

I keep hearing that the current housing market is 30% over priced. Should I wait to buy or jump in now?

My mom has a 1.5 acre parcel. It is in Arizona, east of Phoenix, and has an awesome view of the valley. She bought it for around 0K. She wants to have me build on the property and then sell the property and we split the profits. She can’t afford to build by herself. I have no idea how I might do this, and I’m also a little worried about the housing market. Any ideas or suggestions? Is this a bad idea generally? How would we write up the agreement?

i’ve signed a contract for a new home in phoenix arizona back in january. now with the mortgage rate climbing and the housing market cooling (quite rapid here in phoenix), i’m worried the value will drop and i’ll end up losing money. (the houses like the ones i looked at was going for less than 200 grand three years ago and when i signed the contract, the price was at almost 300 grand)(and when i get to sell the house later, i’m afraid i won’t even be able to sell it for the price i’m paying which is 300K) Should I try to back out on the contract and lose the deposit, which is a whopping 5 grand, or should i just go ahead and close on this house even if i don’t feel right? and is it too late to negotiate the price of the house since i’ve already signed a contract? it’s a new home that’s being built, so i don’t know if a negotiation is an option at all.. but any experts out there, please help.. any advise will be greatly appreciated..

I live in Phoenix and I own a condo which I am planning on renting out soon, so that I can buy a house. (Thank you housing market decline) My girlfriend lives with me and makes about the same income as I do. Question: Should we buy two houses instead of one? Judging by the way the real estate market is now, this is a great opportunity to buy homes. She could afford a place of her own and so could I…. But we’d live in one and rent the other out. Would this make more sense? Then we’d own a condo and two homes… rather then a condo and one home. Does this make sense to anyone? Anyone have any good reasons why this is a bonehead idea? I need input before I do this. Thanks!!!

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I just got a job offer to move back to my home town in CO. to be a superintendent for a construction company that builds condos. I currently live in AZ. and work as a foreman at a roofing company. The offer they made me was 90k a year to go to CO I currently make 52k in Phoenix. Both my kids and my wife want to go. However I owe 252,000 on my house and its not worth much more. Also the housing market has takin a big drop in the last few months with many still on the market since Feb. 06. So do I bail on the house and move back to Co. or stick it out with the company that I am at and hope I can get to 90k in the next few years? PLEASE HELP!!!
Thanx for the anwser "it’s your own fault" but there are quarterly bonus checks fool. What do you do for a living school boy?
Thanx for the anwser "it’s your own fault" but there are quarterly bonus checks fool. What do you do for a living school boy?
Thanx to everybody for such a big response!!! This is great!!!!

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I’m a single male veteran with no children. I want to purchase a home and was prequalified for 110k using my VA Home Loan. My girlfriend has a very high debt to income ratio and will likely file bankruptcy due to high credit card debt. I can’t buy anything with her in that shape. I don’t have a down payment, I do have the VA benefits. Home prices are more expensive than ever. How do I purchase a home on my own? In Phoenix, AZ the housing market seems out of reach and all that is left are small "apartment condos."

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