Orlando, part 2

[kdm31091]

I'm sure you all remember my thread about moving to Orlando about a month ago. Although it does appear the cost of living there is not low at all, I have some good news. It turns out that I have some money in a fund I never knew about. I don't wanna get personal and say exactly the details, but it's worth ~500k, and investing just a tiny part ($50k, even) would give me $500 a month extra, assuming 10%. I hope none of you track me down now, lol.

Considering this, plus the money I'm saving, could I make it renting in Orlando with a roomate? It's still the place I really wanna go, or a suburb of it. Can I survive with the extra fund's interest and whatnot?

I realize the fund's interest would not be steady but I'm starting to think I should just take the plunge when it's time. The worst that happens is that I can't afford it or hate it, and my lease would end in a year and I could try something new.

If you don't know what I'm talking about here's my first Orlando thread:
http://www.disboards.com/showthread.php?t=1306144

 

[1Prince2Princesses]

I may not be clear what you're asking. If you're wondering if you can live in the Orlando area on $500 a month, then the answer is a definite no. Not even with a roommate.

 

[kdm31091]

No, I mean $500 a month extra, plus income from a job.

Considering I'm gonna invest about 3x that, the extra income from investments should be $1500 a month.

 

[1Prince2Princesses]

Glad I asked... I guess I wasn't clear after all. With a roommate and a job and $1500 a month, you could definitely live here. Maybe not in a high-end place, but you definitely can find something affordable.

 

[kdm31091]

Anyone else want to shed light? I'm sure it is affordable but I just want to be 100% sure.

 

[ADisneygirl]

My brother lived near Altamonte Springs -- a nice area near Orlando. See this site for apt info and a map to see where Altamonte Springs is.

http://www.apartmentratings.com/rate/FL-Altamonte-Springs.html

 

[kdm31091]

Thanks! So should I be able to count on the extra investment income or not count on it?

 

[ADisneygirl]

I'd count on it since jobs don't pay as well here in Florida as in the north. The website above gave examples of area apts for rent now -- and they said this: One bedroom apartments in Altamonte Springs currently rent for $722 to $869 per month. Some nicer ones cost more, this is just an average. By the time you move in a couple of years rents will have increased some, so if I was you I would count on using the investment income. Can't hurt to count on a sure thing, and if you don't need it towards rent then I'm sure you'll find another good use for the $$!

 

[kdm31091]

What I meant was, the investment income is risk free, right? If I give them $50k at 10%, I'm always going to get a $500 check, EVERY month, with no risk, right? Or are risks involved?

And if I give $50k to 3 of those types of company, I would get $1,500 a month - non risky, and I'd be sure to get it, right?

 

[lesroi]

I am not certain where you might find a risk-free source of a 10% yeild, but I hope you will share the source with us when you do.

I think I would either save the "fund" for retirement or use it to actually purchase a home to live in. (Or at least put down a substantial amount on a home, then pay YOURSELF rent. I would never put all my money in Real Estate.)

Good luck to you. You seem to have a lot of things going on!

Tracy

 

[orljustin]

There's no where you are going to find a 10% risk free yield. Maybe 5%:
http://www.amtrustdirect.com/?WT.srch=1&WT.mc_id=882439&IQ_ID=882439
but you'd actually want to research a cd, not just find one on the net. You should find a good financial advisor who will help you invest it in a mix of stocks and cds, to maximize your returns. Re-invest all profits except a set amount they give you every quarter, or month, or whatever.

 

[Cool-Beans]

Yes, yes, YES! You'll be fine. Problem solved.

 

[kdm31091]

There's no where you are going to find a 10% risk free yield. Maybe 5%:
http://www.amtrustdirect.com/?WT.srch=1&WT.mc_id=882439&IQ_ID=882439
but you'd actually want to research a cd, not just find one on the net. You should find a good financial advisor who will help you invest it in a mix of stocks and cds, to maximize your returns. Re-invest all profits except a set amount they give you every quarter, or month, or whatever.

What's even cooler is that I already have two "financial advisors" - the person holding the fund, and my grandmother who is very astute with this type of thing herself. So I should be fine when looking for a place to invest. Yes, problem solved! I can go to Florida worry-free. 2 more years! If I hate it there, it's only a one year lease and I can return home.

 

[aprilgail2]

I want to know where you can get a steady 10 percent on your investments risk free because I think everyone here would want in on that one!!

 

[kdm31091]

Well, I'm not 100% sure it's 10%, but it was an example figure. However I have heard of several companies that give a high %, but the first one that came to mind is GE.