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Updated almost 10 years ago, 12/28/2014

User Stats

10
Posts
2
Votes
Chase Dunlavey
  • Los Angeles, CA
2
Votes |
10
Posts

Biggest decision of life and I am looking for your opinion on what to do

Chase Dunlavey
  • Los Angeles, CA
Posted

Ok so I am 30 years old. I own my house in Los Angeles, free and clear thanks, to my family purchasing for me. I am thinking about selling it. I will net between $850,000-$950,000 depending on how big I want to go with the upgrades. Though I do not just want to go purchase another house as I only have a monthly income of $2500 to live off of, and don't have much cracking on the backend…..yet. I breed very rare English Bulldogs and just had my first litter, which should net me around $25k-$30k. So if this goes well with the bulldogs I will have a decent income in the near future. Actually the dogs are the reason this situation of me selling my house even came up. Neighbors started bitching about dogs, calling animal control, and now trying to make it as hard as they can on me to breed. Their frustration is a tad understandable, though nowhere near where it has escalated to. So anyway my plan from this point would be to rent a property in which I could breed dogs from, with 1 acre, no neighbors to complain. Say a $2000 a month house rental. Pay 2 years down, and have them deduct say %15 for doing so say -$21,000. Then I was thinking about buying a foreign investment property of two to rent out, thinking Thailand or Colombia, Panama. somewhere that is on the rise economically, and has plenty of room for growth in the tourist sector. Thinking of spending $100k-$150k per property. So say -$250,000. and from that point, other than to start flipping houses locally, which isn't s easy as some make it sound, I don't know really what to do with the remaining $675,000. I would appreciate if people with more experience, wisdom, and knowledge about finance and investing could please respond with ideas, and opinions that I should consider with this amount of money to invest.

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