Making money.

There seem to be a mixture of all walks of life on this site so in asking to pick a brain or two here. I'm about to come into a little bit of cash and looking for the right place to invest it. Is property still the safest bet as I could buy a flat renovate rent or sell. little profits at first for selling and keep doing that to eventually have enough money to buy house and renovate and sell more profit. or instant income for renting. And I just carry on with my job. Or is there a better way to make money with a large amount of cash.

By an old manual Ferrari, a manual air-cooled Porsche or even better, a Classic Maserati.

My view is if you go buy-renovate-sell route, you need to commit full time to make it pay as speed and careful management is critical. Buy to let can be a nice suplementary income, but unless you are very lucky is not a short term alternative to a day job. Both are good ways to earn cash and I think a safe bet if you know what your doing and know what you want out of it.

dickygrace said:

By an old manual Ferrari, a manual air-cooled Porsche or even better, a Classic Maserati.

Click to expand...

Actually, what he said!

We've just put some into another Maser which we got at a stupidly low price and we are going to keep it for the kids fund when they are 18. As Dicky said there is more to be had in cars as the moment and something like a Porsche 993 or earlier would be a good bet as Porkers have gone up the most in last few years. I'd be looking at 355's too.

Been in the building industry all my life it's wat I know so it is a safe way. if I was as clever as some on here to buy and restore cars. hmmm I think the Mrs would have something to say about that. And dicky just to go out and buy a classic car now id love that but I need to make money as I have no pention ind I'm not getting any younger.

Is there real money to be had in cars like that. Or do you have to hold on to them and sell at the right time.

Same as with property, buy the right one at the right price and hope the bubble doesn't burst! Read the reports and magazines, there's a number of cars that are pretty safe bets.

My problem is Im not into taking a gamble ive never ever placed a bet in a bookmaker. But that's proberly why ice just stagnated and stayed in my stafe life. But I have this opportunity my wife to be is inheriting this money she will waste it away on shoes and bags but she has said I could invest it. Our first thoughts was building.

I keep thinking the 360 could be a good bet - to be honest not really a fan but seem to be reasonable at the moment. Maybe still on the way down?

I think 360's are also a good bet, I've got one being prepped at the moment, they were £40-45k+ a year or two ago, good ones are £50k+ now. As F355's have gone stratospheric, many buyers are looking at Scags & 360's.

Food for thought buildings or cars. I wish I new more about cars than just driving them.
Or a bit of both.

I recently sold my late parents' house. I am putting most of the money into buy to let properties taking advice from a friend who runs a letting agency; The likely return is about 7%, plus any capital appreciation. Have also invested some money in Peer-to-Peer (Ratesetter) and bought some premium bonds. And I may buy a Quattroporte - but that's not an investment unless I start doing weddings!

If you decide you want to make some money out of property... pm me for a chat.. It's what I do..

Generally, making money out of obtaining planning - rather than building - but if you build then so much the better..

Fangio63 said:

If you decide you want to make some money out of property... pm me for a chat.. It's what I do..

Generally, making money out of obtaining planning - rather than building - but if you build then so much the better..

Click to expand...

whats that building projects from ground up.

Steve GS said:

whats that building projects from ground up.

Click to expand...

generally, buying sites without planning and selling having got planning for residential...usually to plc builders.. .. not without risk, but on sizeable projects my clients generally expect a 100% profit inside 18 months... Though I have done far better than that..... Its not without risks... but understanding them is the key...

Risks can be reduced by buying conditionally - or taking an option... but that tends to hit the margins badly..

Bear in mind as well that the buyers of the sites then go on to make a further typical margin of 25 - 30% on their purchase too..by building and selling finished units..

Done refurb projects etc .. and deals on commercial property.. and in 30 years I've only had one go pear shaped....out of hundreds...

All depends on how much you've got to put in and your attitude to risk... and Property needs capital and time for the bigger gains... It's not as fluid as the stock market.. Or cars....but in my experience ... in the long term it only goes one way....

I get tempted by "investing" cars all the time...but always come round to the view that I'm now too old to learn new tricks... there would be too much emotion involved for me... too easily tempted to buy something I liked ... and too tempted to spend much on it.. storage an issue... and selling on is generally at auction (at least for the classics) - and therefore a lottery.... To get it out of my system I've resorted to a minor flutter on the best of the best spot the ball competition !

Steve GS said:

There seem to be a mixture of all walks of life on this site so in asking to pick a brain or two here. I'm about to come into a little bit of cash and looking for the right place to invest it. Is property still the safest bet as I could buy a flat renovate rent or sell. little profits at first for selling and keep doing that to eventually have enough money to buy house and renovate and sell more profit. or instant income for renting. And I just carry on with my job. Or is there a better way to make money with a large amount of cash.

Click to expand...

I have a property development project that is just in the early stages so might be of interest to you. Only in Potters Bar/Brookmans Park so happy to met up to discuss. Half is already planned and investment secured but there will be an additional part to the project that has just come about that may allow further partners/investors.

PM me if interested and we can discuss over the phone or meet up. Depends how large the large is as well

I've bought to let for about 10 years now and as soon as I get enough money from the other properties I buy another one. This to me is virtually worry free. You have the capital appreciation from the houses and rental income which you can either re-invest or use for other things. I DON'T get interest only mortgages though! To me you have to be paying the mortgage off and not just interest, that way after 25 years you'll have a whacking great pension pot!

FF1078 said:

I've bought to let for about 10 years now and as soon as I get enough money from the other properties I buy another one. This to me is virtually worry free. You have the capital appreciation from the houses and rental income which you can either re-invest or use for other things. I DON'T get interest only mortgages though! To me you have to be paying the mortgage off and not just interest, that way after 25 years you'll have a whacking great pension pot!

Click to expand...

Not my area really, but I know lots who do - and they are all far wealthier than me.. you just can't argue with the results and I expect that it will become even more popular with the new pension reforms....

Property tends to be a very collaborative business... and the more enjoyable for that..

FF1078 said:

I've bought to let for about 10 years now and as soon as I get enough money from the other properties I buy another one. This to me is virtually worry free. You have the capital appreciation from the houses and rental income which you can either re-invest or use for other things. I DON'T get interest only mortgages though! To me you have to be paying the mortgage off and not just interest, that way after 25 years you'll have a whacking great pension pot!

Click to expand...

This is my initial plan and its safe. As will have the cash to buy and if need be renovate first property then let it build on that