Upcoming Investment

[Shaolin Monks]

Good evening ladies & gents,

First of all i'll start off by saying thanks for any input. In a nutshell, myself and half a dozen of my close friends have been putting money into a joint account for going on 12 months now. We're currently hovering around the $20,000 mark all knowing full well there's still a way to go.

Just wondering if anybody can suggest rewarding investments between $15,000 / $45,000.

We're steering clear of the sharemarket and land investments for the moment.

Thanks

 

[r dub 19]

Gutsy call to share an acct with your mates, do you reccord how much each of you have contributed?. If you aren't interested in shares or property there isn't much? I say just stick to high interest saving accounts.

 

[Pornstar]

You haven't said much about your investment objectives. For example, how long are you looking at investing for? What kind of returns do you want? Why are you and your mates chipping into a joint account?

But yeah, if you are steering clear of shares and property you are pretty much left with something like a term deposit. Last time i checked you can get 6.4%pa for a 12 month deposit.

 

[dmc333]

Ubank 6.51% at call - as long as you set up auto savings plan that deposits $200 in a month.

Not sure why you're investing with your mates though. Recipe for disaster.

 

[Shaolin Monks]

Ubank 6.51% at call - as long as you set up auto savings plan that deposits $200 in a month.

Not sure why you're investing with your mates though. Recipe for disaster.

Hey guys thanks for the feedback & cautions. We're currently in a high interest account to which we record everyones contributions per month all members have signed a contract etc.



As for objectives; we're aiming at working our way up through smaller investments and devoting more and more time as investments get larger. I guess the reasoning for multiples is affordability. There's individual HECS fees, housing investments, shares all seperate.



Also, we didn't dive head first into this without thinking. We've been close friends for 15 years but work, girlfriends and sport has resulted in seeing less of eachother, however still keep in contact with emails weekly. The application process was chosen carefully to avoid and problems with unreliability.


Thanks again appreciate it

 

[ablett]

Approach a profitable business that needs a silent partner to inject some cash for the business to grow and take the next step.
You may get 10% return for your contribution and in the future the business will probably want to buy your share out which could end up being a handy little exercise.
It may be a Brothel wanting to renovate and add some more rooms to enhance their turn over , or a truck company needing a deposit for a loan to put another truck on the road because they just picked another contract, you get the drift.

 

[DidakDelight]

Investing with 5 other people could present a lot of potential problems.

Are you and you're friends willing to borrow in order to invest, or do you want to invest only what you have?

If you are willing to borrow $75-$100k each you could buy a holiday investment property and divide it up like a timeshare and get a month each and rent it for the other 6 months.

If you were to do this it would be best to speak to an accontant so they could advise you what entity to buy it under, a company linked to a trust would be best I'd imagine.

If you're not willing to borrow to invest, why not have a little fun with your money and invest in a racehorse(s) or greyhound(s)

 

[bunsen burner]

If you are willing to borrow $75-$100k each you could buy a holiday investment property and divide it up like a timeshare and get a month each and rent it for the other 6 months.

Concept of borrowing is fine but holiday accom as an investment is a poor percentage play.

If you were to do this it would be best to speak to an accontant so they could advise you what entity to buy it under, a company linked to a trust would be best I'd imagine.

Yep, but a property accountant. Other accountants think they know but usually they are scratchy for details.

If you're not willing to borrow to invest, why not have a little fun with your money and invest in a racehorse(s) or greyhound(s)

Very risky. Chance of making money is very slim. Got to go property or stocks imo.