Something different

[Anonymous No.14084486]

Alright, this will change from all the crypto threads. I need actual business advice.

Got laid out last year, received a hefty package. With some help from a dear friends I used it to buy two apartments where I live.
It's a touristic city in central Mexico so I rented one on Airbnb and moved in the other.

I have now found a new job, I am married and we both live in my apartment. The Airbnb is going well and is a stable source of income.
We have no debt and no rent to pay so we are saving a lot.


What is the next move ? The flat is a bit small for a family so I'd like to buy a big house preferably in the center too. We could get a loan this time and leaving the flat will immediately give us some income as we rent it. It would more or less pay the mortgage for the house.
But I am wondering, as family isn't an urgent matter for us, maybe we should invest in something else before getting leveraged ?
Also buying another real estate in the same city and the very same area seems unwise financially wise as anything hurting this peculiar place would hurt all of our income and estate
We thought about a restaurant or a bar but it's still correlated to the city and tourism.

Buying stocks and bonds is fun but I'd rather invest in having my own business.
What are your thoughts ?

[Anonymous No.14084511]

lol most of the people will stop reading after learning that you are from mexico. biz is full of racists, they won't help any non-white

[Anonymous No.14084523]

>>14084486
>Living and raising a family in a shithole like mexico
>Ahh I guess I'll give you the pre 2016 /biz/ answer.
Buy index funds, or start a small Mart, literally the richest man ever to have lived mr.rockerfeller started by selling groceries

[Anonymous No.14085037]

>>14084511
I'm an expat to be fair but does it really matter ?

>>14084523
I have a little bit saved on index funds and a combination of liquid and risky assets but I'm not too keen on doubling down as I think all these financial markets are at high point and some correction is looming mid term. Also, to be honest, I don't have the time or knowledge to delve enough to really be performing short term on this

I'd rather wait with some other kind of asset for the moment and I'll invest in the next slump in more index funds for long term saving

[Anonymous No.14085087]

>>14084486
I read that as "Got laid last year, received a hefty package."

[Anonymous No.14085093]

>It's a touristic city in central Mexico
San Miguel de Allende?

[Anonymous No.14085180]

To give you an idea
>Me and my wife make around 40k/y after taxes
>Airbnb is approx 9k per year after taxes and expenses (cleaning, depreciation of furnitures and sheets etc)
>No rent, no mortgage. Just services and maintenance of both flats which amount for around 200usd /month
>3kusd in credit card debts over the next 12 to 18 months

I am not familiar with the Anglo system. Should I repay the cc debt asap or make the regular payment right on time ?
What's better for my cscore?

[Anonymous No.14085257]

>>14085093
Yup

[Anonymous No.14085348]

>>14085257
Based. My friend lives there. Haven't visited him yet after watching all those cartel beheading videos but I hear it's a super chill town. Is the trip to and from the airport safe?

[Anonymous No.14085394]

>>14085180
Typical boomer advice is to always pay off all your debt before investing. But this was before bitcoin, where you could* make 10x in a month.

If you have a working system that generates revenue now, optimize it and expand. Get some solar panels to reduce costs, find better advertising to keep occupancy booked more consistently, etc. Then apply these methods when you move out and rent out the flat you're in now.

After optimization and expansion, comes the diversification steps where you can start branching into other ways to generate revenue outside of relying on income.

*results may vary

[Anonymous No.14085407]

>>14085394
...relying on income from tourism.

[Anonymous No.14085752]

>>14085348
Come it's relatively chill.
Mexico is pretty big and the beheading are localized in some other areas of the country.

The state surrounding the city is a bit violent, but all you have to do is avoid travelling at night through the small villages of Guanajuato.
Gov cracked down on gasoline trafficking (there's a big refinery close by) so a lot of bands that lived of it are looking for reconversion and fighting for turf.
Queretaro which is like 40 minutes away is around as safe as New York desu.

You can land there or in Leon. Have a little trip around it's beautiful. Ask him for advices on what to and not to do

[Anonymous No.14085787]

>>14085407
>>14085394
That is solid advice
So I should consolidate ? Buying a home first (which also ensure some comfort for my family) and investing a bit in making both flats more profitable.
And then once I have stabilized again invest in something else while paying the mortgage with the real estate income?

Solar panel is a good idea. I'm looking at AC because all Americans ask for it, but the energy waste seemed bad to em, but coupled with panels that will generate energy right when it's the hottest sounds smart and eco friendly