Best way to invest 40 grand

nigel2smooth

Hi,Just would like to hear some feedback on how me and my best mate could invest 40 grand,we both bought houses 2 years ago and as planned we have made over 20 grand each on the houses...Myne i have rented out which the rent just covers the mortgage,but me and my mate are thinking off selling soon maybe go into buying a bussines if possible,we both work in dead end factory jobs...so looking for a way out,so 40 grand in cash we would have maybe we could get a loan for more cash if needed,,,,any advice would be greatfull...Cheers Nigel...

nigel2smooth

Anyone can advice me on this please.

cheerfulcat

Perhaps you should wait until you actually have the £40,000 before you make plans for it? Not being funny but until the properties are sold you haven't made anything at all...

dunstonh

Also, we know nothing about you. You have about 10,000 options available at present and we cant narrow that down based on what you have said.

nigel2smooth

Well i am 26 years of age and my mate is 29,would like to run my own bussines in the future.Maybe food or somethings just wanna do something where i can escape the dead end job i am on now in a factory.

leona71

Have you thought about going into property developing? Or even starting a small business on Ebay? Depending on what you want to do, going into business is either a hit or a miss. A lot of hard work and sometimes no rewards for a long time, I am an Accountant and i've worked for a lot of small companies. I've witnessed on many occasions how hard some Companies have to work and many times they go bust before even getting off the mark.

I wish you all the best.

Leona

christabell

You can invest the 40K in MY personal bank account.....

MiserlyMartin

I'm not sure if to laugh at that one or not. I don't suppose that helps him very much!

As said previously, your 40K profit has not yet been realised because the assets have not yet been sold. Plus the 40K is just paper profit for now, you don't know how easliy they will sell or what value you will actually get for them in reality. Todays house market is a difficult one and they may be on the market for a while. When you do sell whatever you make you should put into a high interest instant access account until you decide what business you want to use it for. Perhaps in the meantime you can think about this.

nigel2smooth

Cheers yeah i would sell the house no bother as there is a property boom going on here in northen ireland at moment.Was wanting really to put the money to something so i could work for myself and not in a boring factory.