Saved up $130k. Where to invest?

[Ana Franchi]

Hello everyone. I saved up $130k.

Should I get a mortgage loan to buy a condo or an apartment, for approximately $220-250k, as my primary residence, put 30% down payment, live there for a year, then make it a rental property?

Or keep working for couple more years, save up more and buy my very first property for cash, to avoid getting a loan with high interest rates right now, and being stuck paying almost double the house price?

Could you guys please help with an advice?

Who knows what 2024 will bring. Some people say buy now, some say wait and that house prices and interest rates will go down.

And I need to make a very smart move with the money I’ve been saving.

I was also thinking to buy some sort of small business, but I feel like investing into real estate first would be smarter.

Thank you everyone in advance! And happy holidays!

[Stuart Chinworth]

Lots to dig into here but my "knee-jerk" comment is, don't wait. If interest rates continue to fall, more buyers will come back on-line and prices will start creeping up. 

Where you want to invest and the asset classes you are looking at, will play a role in how far your capital can go. You will also need to consider the amount of time you have to allocate to management. If you can give us a few more detail, I think you will get some very good responses.