What To Do With $1000
In their October 2015 issue, Money Magazine has put together a list of life changing purchases one can make for $1000– but they forgot one critical purchase!
If you came across an extra $1000, what would you buy?
Despite $1000 not being a large amount of money, it truly can open the door to a lot of new things in life. A $1000 dollars can mean starting a new wardrobe, making a down payment on a new car, buying a new household pet, going on vacation, or buying that next piece of technology. While Money Magazine talks about making such consumer purchases, they also suggest investing the money which is an excellent idea.
The only problem is that their investment suggestions are a bit one-dimensional.
What I mean, is that they only suggest investing money in soft assets such as stocks. Throughout the blurb, they use words such as “risk” and “volatile” when they suggest jumping into the stock market, and that “picking individual stocks is hard, but it can be engaging to put a modest bet on businesses trying something genuinely new.”
Call me crazy, but I don’t see what is so “engaging” about gambling on unknown businesses which can be directly affected by economic situations not even in our own country. Sure, with enough knowledge and picking the right stocks it is possible to return a profit, but it is currently a minefield out there. Instead of putting all of your eggs in one basket by having a 100% soft asset portfolio, why not invest in land as well?
Land is a hard asset, which means you can’t move or wear it out. While land purchases also carry some risk, the risk is much more manageable since it is only subject to local changes which you can directly monitor, securing better chances of a well-made investment. Unlike services and products, land will always be in demand because it is a non replenishable resource. You can’t make more of it!
Diversifying your investments in both hard and soft assets is one of the smartest things you can do with your money. Combine that with my expertise, and you can be sure the property you are buying is right for you.
For example, with $1000 you can make a modest down payment on this 2.5 acre lot in Joshua Tree WITH water and power available, and the monthly payment would be as low as $181.
So what are you doing with your next $1000? For more information on the above property or land investing in general, give me a call at (562) 355-9579 to make your next $1000 work for you!
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LandVesting focuses on real estate -- buying and selling property using the fleetail sales concept to benefit all of the parties involved in the real estate transaction.