Best place to invest $75,000? Help Please?

[EricS]

I'm only 24 by the way..

I have saved up 75000 and would like to know how to invest it. I would like for it to Provide an income for myself and my family. Anyone know what kind of business I should get into? Or any ideas?

[wijiwitt]

buy a house. The market is great for you right now. If you get a duplex the rental income will cover your taxes. Property values are going to rise again and you could double your money in less than 10 years. Good luck!!!

[StoneCold243]

Yup, rental houses are great right now.

[DanielS266]

Real estate is probably as good as anything however a couple rules to remember:
1) Never, never buy anything that will not be easily profitable immediately after purchase. In other words don't buy something you can't rent for more than your costs!

2) you will never provide your family with all the income you need. that would require a 80% return or so which really isn't feasible but you can expect a $5-10K free cash flow (fcf) if you do everything right.

3) we are in the middle of peak defaults from classical subprime mortgages and Alt-a and Option Arm mortgages so we could very well see a further drop in housing. So make sure that you have high margins when you buy the place (so if the price falls you will be protected)

If real estate isn't your thing you can get a good, safe 6-8% return in stocks ($4.5-6K) by buying utilities and similar companies. I would suggest Cons. Ed (ED), Amerigas Partners (APU), Southern Company (SO), and Duke Energy (DUK).

whatever you do make sure you are not making risky investments with this. Talk to people (not brokers who are trying to sell you something!) who are knowledgeable in the field and get opinions on what you are doing.

[munciebirder362]

You are 24 and have 75k and you are asking us? You might know more than all of us put together.