Where to invest $30K?

[gigant]

Hi,



Im a NYC resident and I ve saved $40K, currently unemployed, working part time



I want to invest part of tht savings, around $30K to buy a cash flow

porperty



My idea is to buy in cash a condo in a city with a decent job market and a

good local economy



I looked into Tampa and Miami where prices went down a lot and, potentially, i can also relocate there



Where should i invest? should i keep raise my cash and wait?



pls advice



thanks

[scottiegrace]

YOu can probably get a mini home in a retirement park fully furnished in Flordia for that amount and you could rent it to Canadians in the winter for $500 a week. The same units were selling for $150,000 before the Real Estate Market went south. AN agent in my office bought one in November.

[Micheal Pannell Realtor]

Aig Stocks, I have double my money in the last few weeks...

[AugustaREGroup]

You are unemployed in a terrible job market. The only sound advice you will receive with this money is a very safe liquid asset... short term cds, high yielding savings, etc.

You will never know when a emergency, etc. will come up. I am guessing with you being unemployed you might be missing out on some medical, dental, etc. plans that usually help.

I am one of the biggest advocates of real estate investing (especially in this market), but I do not think I could tell someone to invest that money being unemployed. Another thing is the cost of living (assuming you live in NYC) is so high in NYC that 40K will not really stretch as far as it would in the South East.

Whatever you decide, best of luck!

[TraceyWalker]

Well, if you have the spirit of an entrepreneur, you could always invest into a business and work for yourself, maybe an online business.

In my opinion, that's better than the cd's and all that stuff that is still not controlled by you, but by "the market".