How many millions would set you for life?

[Black_Jesus]

A smart nikka will stretch that million and live comfortably as fukk the rest of their life working part time somewhere

 

[Turk]

what part of the southside you from?

It's not the Southside of Chicago if you're thinking that

 

[unit321]

U missed the point. Dont buy the car cash. Thats how u go broke. People dont understand credit. You dont wanna touch the million the bank. Keeping that will net you 60k plus a year in interest to live on for life. finance the porsche for 5 years. The lower the monthly payment the better in this scenario. you can also purchase a half a million dollar condo in the city. with a million in cash in the bank as a collateral you can do this with little to no downpayment. again strech the payments to reduce the monthly amount. prob end up being a little over 2 grand a month. thats easily manageable on 60k+ income. now you own the crib and sportscar and have money left to play with for life.

When you buy a $500,000 condo, you have to put down 20% as down payment. Banks do not take cash in bank as collateral when it comes to a real estate purchases. That's $100,000 in a down payment.

The better way to spend it would be to be buy four $200,000 properties that would end up as $800,000 paid out. No mortgage payments. No interest. For each property you would rent it out at $2,000 a month. That would equate to $8,000 income a month. The remaining $200,000 would be used to buy a home for myself. The rent on four properties would equal $96,000 a year. After ten years, I would have earned $960,000. That revenue would have paid off he $800,000 expense plus operating expenses of those rental properties. Every thing received after that 10th year would be gravy.

 

[analog]

$2M. I'd invest conservatively and live comfortably off the 5-8%($100-160k) gains a year.

 

[#SOG_soldier]

It's not the Southside of Chicago if you're thinking that

 

[Nigerianwonder]

When you buy a $500,000 condo, you have to put down 20% as down payment. Banks do not take cash in bank as collateral when it comes to a real estate purchases. That's $100,000 in a down payment.

The better way to spend it would be to be buy four $200,000 properties that would end up as $800,000 paid out. No mortgage payments. No interest. For each property you would rent it out at $2,000 a month. That would equate to $8,000 income a month. The remaining $200,000 would be used to buy a home for myself. The rent on four properties would equal $96,000 a year. After ten years, I would have earned $960,000. That revenue would have paid off he $800,000 expense plus operating expenses of those rental properties. Every thing received after that 10th year would be gravy.

Not true at all. you dont need 20%. There are many types of loans and programs that give you low downpayments. 5% or less.

 

[unit321]

Not true at all. you dont need 20%. There are many types of loans and programs that give you low downpayments. 5% or less.

Yes, I know. But, you need to get a second loan to cover the other 15%. Look it up.

 

[El negrito de tejas]

15 million would be enough for me
Ill be completely debt free
Buy myself a town home/Condo
Buy up some Town homes(3 or 4) to rent out and just invest the rest of the money

 

[labrokejames]

If there's no limit then I want the supidest amounts. Over 200 million. I'm that kind of dude. I want everything on the spot instantly before anyone else has it. I want all my Jays delivered in care packages.