• Hello Guest

    Please bear with us! The Orange Room is being restructured.

What to do with $75,000?

#1
Hello,

After many years of working, my bank account reached $75,000. I am below 30's and single. What to do with them? Obviously I need to gain more money. But how? Any idea? I am observing the economic situation in Turkey and it's going to a crisis, so I might buy a small studio there if it happens. Some people told me to convert them to LLB and I will get an interest of 7 or 8% every 3 months. But I always prefer to have $$ in case the local currency go down.

Any input on what to do? I'm a bit lost.

Thanks a lot!
 
  • Advertisement
  • Jo

    Administrator
    Master Penguin
    #2
    Hello,

    After many years of working, my bank account reached $75,000. I am below 30's and single. What to do with them? Obviously I need to gain more money. But how? Any idea? I am observing the economic situation in Turkey and it's going to a crisis, so I might buy a small studio there if it happens. Some people told me to convert them to LLB and I will get an interest of 7 or 8% every 3 months. But I always prefer to have $$ in case the local currency go down.

    Any input on what to do? I'm a bit lost.

    Thanks a lot!
    Aymata bteje bent l 7alel?
     

    Isabella

    The Queen Of "Bazella"
    Orange Room Supporter
    #3
    Buy me a car? I saw a really nice mercedes hybrid I thought looked great, it only costs 36800 euros as well you'd have some money left over!
     

    Iron Maiden

    Her Royal Brincess
    Staff member
    #4
    Invest in hummus and falafel food stores in copenhagen. They eat them faster than u can say Return On Investment.

    PS: am not even kidding
     

    My Moria Moon

    Legendary Member
    Orange Room Supporter
    #8
    Hello,

    After many years of working, my bank account reached $75,000. I am below 30's and single. What to do with them? Obviously I need to gain more money. But how? Any idea? I am observing the economic situation in Turkey and it's going to a crisis, so I might buy a small studio there if it happens. Some people told me to convert them to LLB and I will get an interest of 7 or 8% every 3 months. But I always prefer to have $$ in case the local currency go down.

    Any input on what to do? I'm a bit lost.

    Thanks a lot!
    Invest them in Roulette at Casino du Liban. Ask @manifesto for details.
    You're welcome.
     

    manifesto

    Well-Known Member
    #13
    The fact you can save $75,000 but have no idea what to do with it is alarming!
    People who are disciplined enough to be able to save that amount of money usually know how best to invest it.
    Unless you have the patience for the stock market, I think real estate is your best bet.
     

    Stormie

    Legendary Member
    Orange Room Supporter
    #14
    Hello,

    After many years of working, my bank account reached $75,000. I am below 30's and single. What to do with them? Obviously I need to gain more money. But how? Any idea? I am observing the economic situation in Turkey and it's going to a crisis, so I might buy a small studio there if it happens. Some people told me to convert them to LLB and I will get an interest of 7 or 8% every 3 months. But I always prefer to have $$ in case the local currency go down.

    Any input on what to do? I'm a bit lost.

    Thanks a lot!
    Invest in real estate. Not sure how is it in Turkey right now but if there is collapse in the real estate industry, it is time to invest. Real estate values are going down little, not by much, all over the Middle East. Wait for a good opportunity in real estate.
     

    mrsrx

    Newish Member
    Orange Room Supporter
    #15
    Hello,

    After many years of working, my bank account reached $75,000. I am below 30's and single. What to do with them? Obviously I need to gain more money. But how? Any idea? I am observing the economic situation in Turkey and it's going to a crisis, so I might buy a small studio there if it happens. Some people told me to convert them to LLB and I will get an interest of 7 or 8% every 3 months. But I always prefer to have $$ in case the local currency go down.

    Any input on what to do? I'm a bit lost.

    Thanks a lot!
    On realestate you need to check out the yields in terms of space/location/taxes

    In terms of space the price of a sqm usually goes down when the space goes up to buy but tje rent goes down faster. Which means smaller areas might yield you better if you rent them out (lookup rent vs space in your area to find the optimal range)
    location some are cheap to rent and expensive to buy as it is located around areas where the demand fluctuates that way. In terms of value this is very important if the area is going up or down in the future, public transport will be available, hospitals, pharmacies, schools.....
    taxes are a big thing as in some countries or states ownership tax is high and renting income is high as well so even if its a good deal in the long term it is not a super investment.

    all that said real estate is generally safe as people need a place to live...always! but compare it to other areas regarding yields vs risk!
     

    Aoune32!

    Well-Known Member
    #16
    Hello,

    After many years of working, my bank account reached $75,000. I am below 30's and single. What to do with them? Obviously I need to gain more money. But how? Any idea? I am observing the economic situation in Turkey and it's going to a crisis, so I might buy a small studio there if it happens. Some people told me to convert them to LLB and I will get an interest of 7 or 8% every 3 months. But I always prefer to have $$ in case the local currency go down.

    Any input on what to do? I'm a bit lost.

    Thanks a lot!
    well done
    real estate without a doubt.
     

    changetheword

    Well-Known Member
    #17
    Hello,

    After many years of working, my bank account reached $75,000. I am below 30's and single. What to do with them? Obviously I need to gain more money. But how? Any idea? I am observing the economic situation in Turkey and it's going to a crisis, so I might buy a small studio there if it happens. Some people told me to convert them to LLB and I will get an interest of 7 or 8% every 3 months. But I always prefer to have $$ in case the local currency go down.

    Any input on what to do? I'm a bit lost.

    Thanks a lot!
    Are you looking for a short term or long term investment?
     

    Tsunami27

    Well-Known Member
    #18
    I would put like 50K as a down payment for an apartment next to universities / working hubs (think Jbeil, Achrafieh, Dekwene, etc.), get the rest of the amount in a form of loan over ~20 years. You can rent it to cover the loan and make around 150$ net profit (Please do the Maths, these are just initial estimations)

    The remaining 25K can go into a saving account in Lebanese lira. You will make around 150$ additional income per month. You can add to it up to a point where you can replicate step 1 or up until you have this crazy idea with your friends to open a small business aside
     
    #19
    Thanks guys, especially those who came with serious answers. I managed to save that amount because I have no expenses, even though I traveled a lot with my girlfriend in the last 2 years.

    I found a small studio in Jbeil for $40,000 (30 m2). I was thinking of buying it and put it for rent. However that won't be ideal if I want to buy a studio in Istanbul. I am sure the economy will go down there. Turkish Lira is going down every day, and I guess they will have that sort of crisis like in 94 or 2001.
     

    NAFAR

    Well-Known Member
    #20
    Buy a shop in a business hub location.

    You can pay 50 K as down payment if the const. is progressed more than 50% and then pay monthly installment directly to the owner then in 2 to 3 years whne the shop is ready for registration, you can get a bank loan for the balance amount.

    From experience, good locations shops investment/ rent is better than flats.

    I bought a shop few years ago on Jounieh highway and I am getting 1500 USD monthly rent from it now.
     
    Top