Hello There,
We have just listed our condo for sale and hope to sell it for about 150K more than what we bought it for. We had spent some money in upgrading the condo for our use. So its basically not a straight up 150K profit.
Alhtough this may seem like wishful thinking-given that it has been on market only for couple of days and not sold yet. I would like to be prepared. We will be moving to a different city pretty soon so option 1) is to invest in a downpayment on a independent house- this is attractive as hopefully we will have a yard for the kids to play in but given the market conditions (too hot)- I dont want to buy right away and would rather wait for a downturn/chill in the housing market. What do you all think? We do need to live somewhere so will probably rent, is that money down the drain?
Option 2) Divide the 150K into batches of 25K and invest in different ways- here I would need advice from you guys about what those investment vehicles should be. The division into batches is to diversify. This is all we have to show for 10 years of work as a scientist. :( Dont want to loose it now due to bad decisions.
Option 3) Invest in small real estate transactions- to buy couple of rental properties one of the states where such deals are still available.
Option 4) Any really good advice/options you guys suggest.
Thanks!