Advice on how to invest $50,000

[Robert T.]

New to the site, but love all the information on here.  Really looking to educate myself in finance as school/parents/friends all mean the best, but don't have sound advice anymore imo.  

So my situation; I've made almost 100k for the last 8 years, but badly mismanaged my money when I was younger so all I have to show for most of that is bar tabs and memories.  I currently rent, cheap for Pittsburgh area $500/m + utilities which is convenient and close to work.  I have a car payment that's $700/m, to which I still owe $30k @2.8%.  

I've been looking to buy property instead of renting as I have been, but there may be a job and location change in the near future so I'm hesitant to buy especially in a local up market with uncertain futures; even though I know if I buy I can rent that place out, I don't want to make a mistake with my nest egg Ive saved.

My question is,  With $50,000 in the bank, in an up market, and considering my work situation, what would be the best thing for me to do with cash? Pay off lower interest debt? Keep liquid for a down payment on a personal residence? Look for investment property? Put in stocks when the market is the way it is? 

Note, I have a emergency fund aside already.  Pension, separate 401k that gets heavily contributed to, and not other debt than auto.

Any advice or direction would be appreciated, thanks in advance.

[Nicholas Weckstein]

I would use the 50k and buy a multi family. Rent it out completely. Cash flow and have your tenants pay your bills and mortgage. Take the money you make from it every month and forget about it. Just stack it. Then repeat.

I’d like to share what some one I met while tending bar a while ago told me. She was an owner of a real estate investment/building company. The most important thing when buying any real estate, is an EXIT STRATEGY!! You make money when you buy. I made the mistake of over paying for my first rental. I’m learning but wish I knew better.

If you buy right it’s essentially coming into free money.

Good luck.