Hi, I’m 35 years old. I’m still recovering from a divorce that zero’d me out but – I make around 70K a year, I have a $30K emergency fund, $25k accessible cash I was hoping would go toward property, $25K in investments, a Roth IRA which I max out every year since I was 30, a small 401K which I put 5% into in order to get my max employee match (only been with my company 2 years so tend to focus on my Roth), and a tiny HSA which I don’t really contribute to, but invest my employee’s contributions. I am about to inherit a small amount of money from overseas which will probably be about $55K which gives me total of $80K cash. In the city I live in, to buy the cheapest property possible ($500K) I really need $110K including closing costs, so am $30K shy of that. It really only makes sense for me to buy a 2 bdrm apartment as an investment. I’d want to live in it for one year with a roommate to help pay costs, then probably move in with my partner and lease it out. Do I A) put that $80K cash in a HYSA even though they have terrible interest rates these days, in the hopes I can save $30k in the next few years to buy a property, hoping prices don’t increase too much B) See how much of a loan I could qualify for and if I do qualify for $400K potentially borrow $30K from a relative which I would have to pay back at the same time as a mortgage (which may be tough for the first year until the place is leased) in order to get into the property market or C) forget property for the moment and invest the $80K, and have pretty much all of my money invested? This last one scares me due to everyone seeming to believe the stock market is headed for a crash. TY in advance for any and all advice!
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