Question Details

Rover. Humph…, Home Buyer in Sacramento, CA

Question for experts. With a small sum -$60, 000 cash, what's the best way to invest this money in real estate

Asked by Rover. Humphrey, Sacramento, CA Mon Apr 6, 2009

My younger sister and her husband are looking to buy a home. They rent an apartment out in Fairfield, (bay area, California.) They have paid off all their debt and now have a small sum of $60, 000 in cash. What would be the wise way to invest and make better use of this money in today’s 2009 real estate market in the bay area, California? They want stay continue staying within the bay area, CA.
1. Should they buy a smaller cheaper home, pay off the rest of the mortgage quickly and then get a new home and rent out the fully paid one for cash-flow?
2. Should they put the entire sum into a down payment for a larger home in the bay area given that prices have come down?
I am aware that this might be a tough question to answer. However, I would be truly grateful and humbly appreciative to hear responses from any experts or folks who have been in similar situations and been successful. Thank you so much!

Help the community by answering this question:

Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer