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re: Would a $500+ car note break the bank for you?
Posted on 7/21/19 at 6:43 pm to tgrbaitn08
Posted on 7/21/19 at 6:43 pm to tgrbaitn08
quote:
Spends his Friday and Saturday nights and Sundays trying to justify his existence. He obviously has no real life friends
I was out of town looking at rental properties this weekend baw.
3
Posted on 7/21/19 at 7:04 pm to iAmBatman
quote:
I can only imagine the idiots in this thread that don’t understand the opportunity cost of money.
I’d finance a car for 30 years if they’d let me. Much rather have the money and invest it that have it sitting in a car, depreciating in my driveway
And you don't seem to understand risk adjusted rates of return.
You can't compare a 7% stock market return to a 3% car lone.
Posted on 7/21/19 at 7:09 pm to Grievous Angel
quote:
You can't compare a 7% stock market return to a 3% car lone.
Sure I can...wanna watch me do it again?
Posted on 7/21/19 at 7:09 pm to Mingo Was His NameO
quote:
I was out of town looking at rental properties this weekend baw
You’re moving?
Posted on 7/21/19 at 7:12 pm to tgrbaitn08
quote:
You’re moving?
No, I'm looking at buying a duplex to rent out.
Posted on 7/21/19 at 7:21 pm to Mingo Was His NameO
quote:
No, I'm looking at buying a duplex to rent out.
Sure you are. You don’t even own your own studio apt but now you’re going into the section 8 business?
Posted on 7/21/19 at 7:26 pm to Grievous Angel
quote:
You can't compare a 7% stock market return to a 3% car lone.
Why not?
Posted on 7/21/19 at 7:53 pm to PearlJam
He’s the one that claimed there was a magic number of days... I never made such a claim.
Posted on 7/21/19 at 7:54 pm to lsu xman
quote:
Would a $500+ car note break the bank for you?
No, but I would never have one. Which is also why it would probably never break me. Chicken and egg.
Posted on 7/21/19 at 8:00 pm to Mingo Was His NameO
Mingo—I understand your point, but we are talking about a car, not a 500k house (in regards to financing/investing the difference).
Playing the interest rate spread over 5 years is a lot different than over 30 years.
DCA what would be the monthly car payment into investments.
Playing the interest rate spread over 5 years is a lot different than over 30 years.
DCA what would be the monthly car payment into investments.
Posted on 7/21/19 at 8:01 pm to tgrbaitn08
quote:
You don’t even own your own studio apt but now you’re going into the section 8 business?
I don't live in a studio and it's a mil plus to buy in my hood, I'm happy renting for now. I'm looking at income properties in a much lower COL area.
Posted on 7/21/19 at 8:03 pm to lsu xman
We leased the car we got for 5 years...eight years is insane bro
Posted on 7/21/19 at 8:05 pm to Mingo Was His NameO
quote:
I'm looking at income properties in a much lower COL area.
with the little income you have, no equity, no collateral....you're 21 years old and your balls haven't even dropped yet....good luck pal....there's no way you will come up with 20% down for an investment property.
Posted on 7/21/19 at 8:08 pm to tgrbaitn08
quote:
with the little income you have, no equity, no collateral....you're 21 years old and your balls haven't even dropped yet....good luck pal....there's no way you will come up with 20% down for an investment property
I already have it big guy. Pre-approved
This post was edited on 7/21/19 at 8:09 pm
Posted on 7/21/19 at 8:10 pm to tgrbaitn08
To be fair you don’t need 20% down for a owner occupied duplex.
Posted on 7/21/19 at 8:15 pm to BACONisMEATcandy
quote:
He’s the one that claimed there was a magic number of days... I never made such a claim.
There is certainly a cutoff where a state would consider you a resident, typically 184 days (though some states are stricter than others). As a California resident, for example, you are taxed on all income. As a nonresident working in California, you are only taxed on income from California sources. I believe there is a part-time resident status for CA as well, but I've never had to worry about the minutiae as I work 14 or less days in states outside of my home state, and never have established a permanent residence.
Posted on 7/21/19 at 8:15 pm to Janky
Risk associated with that 7%
Posted on 7/21/19 at 8:16 pm to jimbeam
quote:
To be fair you don’t need 20% down for a owner occupied duplex.
I'm not going to live in it.
Posted on 7/21/19 at 8:17 pm to Mingo Was His NameO
Why don’t you live in it for a year to get dat financing though baw
Posted on 7/21/19 at 8:17 pm to jimbeam
quote:
To be fair you don’t need 20% down for a owner occupied duplex.
He said he wasn’t moving. He said he was looking at buying a duplex as a income property.
So it won’t be owner occupied.
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