Advice regarding investments, self employment, properties, etc

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
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Joined: Fri Feb 03, 2023 11:32 am

Advice regarding investments, self employment, properties, etc

Post by WillowsProtector »

Greetings, looking for some general advice for my particular situation. I am currently self employed and when not busy I feel like I'm not contributing haha

I am contemplating turning a building in the back of my property into a living area for Airbnb.

I have inheritance in the bank and I hate the idea of spending money because in my mind I feel once I spend I won't ever make money again lol

I don't want to give an exact number of how much I have but it is a decent amount however I realize decent is different for everyone.

My question is I think the Airbnb idea would be a good choice because that would only add value to my property even though it make take years to make back...

Other then that for someone in my position what would be a good recommendation as far as other business or investment outlets are concerned? Buying property with the idea of renting?

I think for me it is very mental because like I said I hate not feeling like I'm making money or contributing to the family so a good investment or staying busy with a new opportunity would help fill in the gaps.

Also another do you decide on whether to take out a loan or spend the money you have in savings?

I appreciate any advice.
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