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So I am a long time lurker and in need your advice/opinions please. I`m in my early 30s and responsible for my parents and siblings who are in school at the moment. I have about R450 000 that I need help with. I need to investment this money and get at least R5000 monthly that I can use towards their fees and upkeep. I am very risk averse and have realized that time value of money with the little interest I was earning is not going to cut it anymore. Have been saving this money for the past couple of years and realized if i had a bought a rental property would have been better off. I think.
I was about to buy a purchase a flat/townhouse for about R500k in Midrand and get about R5000 monthly in rent. Then I read on some threads that its not wise to buy a property for cash I rather invest it. How/where no idea.
So my question is, in my situation I need to draw or use the interest earned monthly (I dont have the luxury to benefit on compound interest for the next three years and I cant get a bond I am a contractor and tried applying for a home loan last year wasn't successful so don't want to bother again as my situation hasn't really changed and would rather wait for my own house for that). Is the rental property a viable option? Or what other options are out there for me that I can invest the money in.
Thanks
So I am a long time lurker and in need your advice/opinions please. I`m in my early 30s and responsible for my parents and siblings who are in school at the moment. I have about R450 000 that I need help with. I need to investment this money and get at least R5000 monthly that I can use towards their fees and upkeep. I am very risk averse and have realized that time value of money with the little interest I was earning is not going to cut it anymore. Have been saving this money for the past couple of years and realized if i had a bought a rental property would have been better off. I think.
I was about to buy a purchase a flat/townhouse for about R500k in Midrand and get about R5000 monthly in rent. Then I read on some threads that its not wise to buy a property for cash I rather invest it. How/where no idea.
So my question is, in my situation I need to draw or use the interest earned monthly (I dont have the luxury to benefit on compound interest for the next three years and I cant get a bond I am a contractor and tried applying for a home loan last year wasn't successful so don't want to bother again as my situation hasn't really changed and would rather wait for my own house for that). Is the rental property a viable option? Or what other options are out there for me that I can invest the money in.
Thanks
