Saturday, July 3, 2010

HELP! I could REALLY use some advice/comments!

Okay,,,,I'm going to be a BIT candid here,,,,,and I'm looking for some advice/comments. I am NOT rich! But,,,I'm financialy secure, for NOW, but with taxes, improvements that will need to be made on this little OLD house and my "Rental" it is scarey, as a single person.  I own my LITTLE bungalow and the back house/cottage free and clear. No Mortgages. Thanks to a mother that was conservative, a real estate whiz,  and left the property to me.

And I have a FEW investment accounts. So,,,,,this week? I got a statement that I had a CD that was maturing and what did I want to DO?? And today, walking to my car after work, I saw a flyer on my way to my car from a Realtor......"Lake frontage"  Lot 1/4 acre,,,,,some 12 miles from town here,,,,,doesn't perk (so no septic tank allowed)  and no sewers/taxes are low...but LAKE frontage! Rec property for now? Increase in value or have my funds sit in the bank and gain WHAT?  My folks made their monies in Real Estate........

Called my Bro,,,10 year older, financially savvy, relatively wealthy,secure in his own right and asked him,,,,,,he said, "Crap Shoot" basically,,,,,he was no help although he didn't discourage me from buying property instead of investing in more CD's.....ACK!!!! Since my mother died, this is ALL new to me and given the economy, inflation,,,,,,

I'm single,,,,,,want to say I KNOW what I'm doing, should do, whatever, but clueless!......but would LOVE any advice from any of you  or family/friends/folks you know with knowledge or experience! And,,,,,,,oh ,,,,,,Lake Front! Sounds better than signing a bank form to continue what? 2 percent interest??? Comments? Oh Please~~~And if you have a savvy family member, would LOVE any advice,,,the CD needs to be dealt with next week and the property?? Well, may or may not be available long term..........

Hugs and Love  and THANKS SO MUCH for any insight~


  1. It sounds tempting. One thing you need to look into is the no perk thing, we were going to buy some property in Arizona, A gorgous acre on a hill overlooking a golf course, we had our blueprints and everything. until we did a perk test and found out no way for a septic and when we looked into how much it would cost to put in an above ground septic Well We backed out. just something to think about. do your homework!
    hugs Lynn

  2. I agree with Lynn on the no perk issue. This limits the use and could be a problem with resale. I would consult with a financial advisor before making any decisions. This is normally a free service and maybe they can direct you to a safe investment that pays more than a CD. Best of luck.
    xo, Sherry

  3. Congrats on being fiscally responsible!
    We are going to be carrying two mortgages now until our current home sells, so I have no advice for you....just hope some of you rubs off on me!

    Have a safe and Happy Fourth!

  4. If you want to invest your money in something and still make a profitable return, I think you should ask yourself two things:
    1.) Did you forget about this money while it was in the bank all this time? Are you completely satisfied without it right now (just saving it for a rainy day)?
    2.) Do you need a new outlet that will still provide a return? Have you been waiting for this CD to expire to just 'do something'?

    If your answer is one, I would concider buying gold. I know this seems unheard of, but gold prices just keep going up higher and higher all over the world.
    If your answer is two, I would buy an investment property that makes you happy- one you can 'escape' to. Whether this lakefront property is the right deal for you is all up to you~ but it may be worth losing a few bucks in the end if you are so head over heals happy with it for many years to come!

    Good luck!!

  5. Shell -
    I say go for it - all the way babe. Of course you are talking to the person who as a single parent 15 years ago scrimped and saved and bought a beachfront condo that I have rented ever since and just PAID off! Paid $65,000 for it and now it is worth 6 times that!

    Also - my sister is a CPA - smartest person that I know. She keeps me out of jail because I am so stupid with math - not money - just math. If you want - I can arrange for you to talk to her - for free. Just to be a sounding board for you~~~. Oh yea, my other sister is vice-president of a bank. (Obviously - I did not get the math smartsin the family as I am just a nurse!)


  6. Well honey you sure have gotten some good advice from all of the above.
    I wish I knew some advice that might help. A friend of mine who is a retired businessman told me he pulled out two of IRA's Friday. He is so upset with the government and our economy right now every time we talk about investments and his money he goes outside and kicks a tree. lol
    My landlady that owns this ranch I am own has property all over the US...I think she believes in putting her money in real estate.
    I would definitely do my homework on this property like the no perk issue. You don't want it unless you think it is something you can't live without or that you can make money on it in the future.
    Wish I were there to see it.hahaha Not that that would help you.
    Or you could just buy a small RV and you and I can go to every coast in the USA
    Love you


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