40k to invest. Very short term goal. Where to look?

[Jagpreet Singh]

Our fault just recently grew and we have a need to buy a new car. A used Audi Q7 is going to run around 35-40k or a monthly payment of $400-500. I don't want to waste the money by paying cash for the car. I was hoping on guidance on a rental property that I can invest in with that much cash which in turn can net me 400ish a month to take care of car payments. I am based out of fremont, CA and there is nothing remotely close to here which could be had for 40k in hand. I am looking at something which. Property management company can help with and eventually grow the portfolio in same region. Y adding more properties. Any guidance would be appreciated.

[Ron Flatt]

Ok..  Think about it this way.  Instead of 40K cash property.  Look for a property you can finance with $40K down.  

$160K property...  depending on property and location should rent between 1600-3200 per month

1/2 for expenses

1/2 for debt service and profit.   

You have to buy right, screen your tenants and work it like a business.  

You are basically looking for a 10% cash on cash return.  They can be found.