What would you do with 30-40k?

[ChiChaNaYubi]

We have this spare atm. No mortgage to pay.
We have a couple properties that we rent out so that provides a steady income plus we both work.
We were thinking of using it to buy a flat to rent out but having been thinking about if there are better opportunities.

Airbnb is one possibility but we know that is quite unstable.
A holiday let is something we don’t know much about, does anyone have any experience in this?

Just looking for some ideas to consider as we would like to do something with it to generate more income.

I'd put it towards a motor home or a caravan personally!

I’d buy a camper van and travel every opportunity we could, in fact it’s exactly what we are doing, only we have less disposable savings.

Good points @Antisocialfluffmonster

The new manager was to oversee expansion of the business, which would have then created a number of other paid roles.

The managerial position remained vacant after the person recruited couldn’t find a house, as it was a role requiring specialist skills and experience. The business instead bought in the service they were planning to develop in house, from outside of the UK and on a much smaller scale. The upshot is that for a lack of housing, there were other negative consequences for local people.

Invest 25k in a financial product, spend 15k on you and your family. I presume you already have a good pension plan, and a decent emergency fund for unforeseen things? If not you know what to do!

@adviceneeded1990 Where can I find this round the world cruise that you mention for £15k? Asking for a friend.... Any links?

Have you got additional savings to cover repairs / maintenance on your existing properties? If not interest rates being high I'd find the best high-yield account and stick it in there. It's a good buffer.

I'd also go on holiday. You only live once.

What would you do with 30-40k?

Only possible answer - get pissed and smash the house up

Spend then entire summer touring Europe in a really nice motor home.

Couple of 100 day cruises here, 50-odd destinations, 15-18k.

https://www.princess.com/cruise-search/results/?trade=W&date=0124,0224,0424&ship=IP

Would do me! Unfortunately don’t have that spare though 😂

Lots of people have answered this question sensibly upthread but if you’re genuinely asking why, maybe you could spend some of your £40k on a couple of books.

Tenants by Vicky Spratt is a good place to start and Evicted by Matthew Desmond is also good although covers the American experience.

Wish I had your problem OP. I could spend that without blinking. My car is 20 years old and my house needs loads of work including a kitchen and bathroom update. On top of that I’m 20 years away from paying my mortgage off.

Not to mention about 100 travel ideas.

Some house renovation, new kitchen or bathroom and new kids rooms.

Give it to me as a house deposit 😜

@adviceneeded1990 Thanks for the links!

Really don’t appreciate a kicking for just trying to be sensible with our money.

We’ve had a think about what we’re going to do with it. Thanks everyone for the advice.

No one is giving you ‘a kicking’. Just evidence based advice.

Having a lump sum to spend presents an opportunity to do something that has a positive impact. So make the most of it!

We have a similar setup. We have a few rental properties in our local areas that are let out long term to people as their primary homes, but a few years ago we bought an (actually quite nice) holiday home by the sea in a popular tourist spot.

We spend a fair bit of time in it ourselves and for the rest of the time it's air BNB'd out. It does make a really good return for us and those staying in it are on holiday so pump money into the local economy at a rate far, far higher than a family living there full time would so i refuse to feel bad about having it if anyone is tempted to start up that tired old debate.

It's also appreciating in value like stink (albeit there's a small blip at the moment so if you can afford it then it's a good time to get in). We bought it 10 years ago for 650k. It peaked briefly at 1.1 mil. Currently advised that it would make circa 900-950k but we have no intention of selling any time soon. Will sit on it until we need the money or are bored of going back to the same place a few times a year.

All round it's been a much better investment than a regular rental property but you've got to be in the right spot. Ours is booked solid 2 years out (the maximum that I will accept bookings), and I have to put our reserved weeks for family use on the calendar before I open up dates as they book within days.

We also have a few shepherds huts and cottages on our farm that are air BNB'd. They work well too and bring in useful extra income. Again, location absolutely is key.

Ah capitalism. Makes my heart melt.

We’ve decided to use it to fund a career change for me and do some bits to our garden. Thanks for all the advice!

Is this a joke?

Seriously, it’s a recession and ‘investments’ are a con anyway. Mums net must be the only place where people like so called ‘independent financial advisors’ and invest small amounts of savings like 30k in ‘risky’ things. What next fans of equity release 😂

@mastertomsmum eh? It's not a recession, we're not even expected to be in recession this year 🤷🏻‍♀️ How is investing a con? 😂

I'll happily shove 30k somewhere risky and see what returns we can get in the next ten years!

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