Reply With Quote[QUOTE=ShockwaveBob
Buying a big, new, blingy boat, even with cash, is not fiscally sound.[/QUOTE]
You gotta explain this one to me
both,but if times get bad,all the toys are gone.Home will be fine.I might be bored for a few years but we can always buy more stuff someday :cry:
[QUOTE=ShockwaveBob
Buying a big, new, blingy boat, even with cash, is not fiscally sound.[/QUOTE]
You gotta explain this one to me
where do you get off with that kind of comment?
The majority are dumbasses. Very few are worth their weight in gold. Ease of entry into the field. The high amount of turnover in the industry. I believe you said the other day that 75% of new licensees are out of the biz in two years. What does that tell you? (I don't know why you would take it personally.)
Why do you have a RE license?
I got my license because I was tired of forking over 4%+ commissions. I also like it when I buy a place I have that extra sellers commisssion to play with. Took one class signed up for the test and passed. So why wouldn't I have my license when it is so simple to get.
You called me more than once for information re your condo dealio in Tempe. If you know so goddamn much about this biz, why didn't you just handle it yourself?
Like you said in our conversation things in AZ are done differently. Did I have that knowledge? No, but you informed me and because of how you dealt with the situation I would have relisted the property with you. I needed an unbiased opinion which you gave me. You acted in a professional manner and didn't expect anything in return and I apprecaited that.
I kind of thought you might be fairly intelligent from our conversations, but you come across with some of these comments that just quite frankly chap my ass. RE investments are like anything else regarding money. You can read all the books, listen to all the "experts", suck down all the rhetoric from every "analyst" there is, and still not have the real life knowledge or street smarts if you will, to play the game. many subjects are getting crossed over here. Buying ones own home is a far cry from investing in RE. Cap rates have nothing to do with buying a second home for an investment. Buying apartments or condo's or some other rental property? Then talk cap rates.
Of course they do if you are buying any kind of property as an investment. If you are talking vacation home than no.
I usually enjoy these RE discussions because of the different opinions and viewpoints, and every now and then I learn something. This one has turned into a pissing match and I'm done.
You seem to be taking the things I say to others personally. You should ignore that pissing match as it is not directed towards you. Having said that I still think you are a good guy and would have no hesitation to refer you.
Because, for the most part, buying a new boat is a very unsound financial move. I'm sure any two bit financial adviser could find a better use for $150k cash. Like I said, we all have different priorities. I, obviously, like many people on this board, have a priority to have a boat, so I'm definately not preaching to anyone not to buy a boat. At the same time, I know that my money could be better spent somewhere else, from a purely financial well being standpoint.
I agree.
Because, for the most part, buying a new boat is a very unsound financial move. I'm sure any two bit financial adviser could find a better use for $150k cash. Like I said, we all have different priorities. I, obviously, like many people on this board, have a priority to have a boat, so I'm definately not preaching to anyone not to buy a boat. At the same time, I know that my money could be better spent somewhere else, from a purely financial well being standpoint.
We will never buy a new boat again. Used, all cash, seems to be the ticket. Let somebody else take the hit on initial depreciation. BTW, from what i've been following, used big boats aren't selling right now. I've been following a few and have seen prices drop from $130K down to $95K..that's a big drop and the boats still aren't selling. Buying new at $250K, only to sell 5 years later at $75K...that's gotta hurt!
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I think totenhosen offers some pretty good words of wisdom. I too agree following these RE threads is usually pretty interesting (always good points raised), so sans the pissing match guys.
Because, for the most part, buying a new boat is a very unsound financial move. I'm sure any two bit financial adviser could find a better use for $150k cash. Like I said, we all have different priorities. I, obviously, like many people on this board, have a priority to have a boat, so I'm definately not preaching to anyone not to buy a boat. At the same time, I know that my money could be better spent somewhere else, from a purely financial well being standpoint.
The key words in your reply are Priorities and I. Being that boating is a personal priority for you(and Me) that would make it a sound financial move.
My twisted logic:
If boating takes stress away it should make you a more productive person at work so you should make more $ than you would spend on your hobby...
Maybe???? My accountant doesn't agree but fukk him I pay the bills
my kids are outta school,we were heading to the desert,blah blah,,,you know,same ol shait...Did you miss any part of socal while you were here?
( Whatever.......... after you didnt call I got a flight home the next day.... igured you couldnt come out and play so I was goin home.
Dont miss anything except friends and 'some' family....if you know what I mean.
Bob.....to each his own according to thier financial situation. For me I have no debt on anything.....including my subdivisions.....(truth, I have one mortgage on a commercial building where my RE biz is) I hate to think I will hurt your feelings when I get a new sled next year.......without a loan.
Hey, Where did ya'll go???????????
The key words in your reply are Priorities and I. Being that boating is a personal priority for you(and Me) that would make it a sound financial move.
My twisted logic:
If boating takes stress away it should make you a more productive person at work so you should make more $ than you would spend on your hobby...
Maybe???? My accountant doesn't agree but fukk him I pay the bills
I believe my neighbors who spend 7K for their family of 5 to go to Hawaii for one week a year is a bad financial move.......but they call it vacation, same as my 4k a year boat payment..think about it.
There is little/no slowdown in home pricing in the san jose area.
homes are listed longer though.
the only problems I would foresee in the immediate timeframe would be
selling low to "get out" of your home..... but it certainly isn't going to
benefit you if you are buying another property.
the biggest laugh is those who "cash-out" some equity to buy toys,
pay off credit cards, take a vacation, etc.... you gotta understand
that all you have done is convert a short term loan, to A 30 YEAR LOAN.
can anyone even remember what they bought on a credit card 2 years
ago? let alone 30 FRICKEN YEARS AGO.
I plan on paying off my house. I'm damn close with 5 years left on a
15 year note. even coming in about 3 years early. refi-? forget that
shit. I rathole money like no other......
the only legitimate way I see doing something with my home's equity
would be if I sold the place, then take some of THAT money to buy
toys with............... anything else is just plain nuts.
--Sherpa ...........my stupid rant........
with out reading the rest of this thread.......
I was walking my dogs last night and noticed a house one block down that is for sale. So I stopped and picked up a flyer.
Now this house is just a tad smaller then mine. It looked nice and very tidy.
Located on Indiana street in Anaheim it's under 1,500 s.f. with 3 br, dinning room, living room and 1.5 bath and detached 2 car in the back. To me that's just a small modest house. Nothing more, nothing less.
Now just to compare mine is close to the same but I have an extra half of a lot. (guy next door has the other half) and I have a second 2 car with a nice driveway in the front sitting on that area. So I have a 2 car in the back and a 2 car in the front as well.I have over double the back yard too.
I paid 184K 6 years ago (prolly an extra 10 ~ 15K for the extra land & 2 car at the time). Well this place down the street is listed for over 630K!!! Now I understand that's what it's listed at and it could sell for less. But I bet it's not much less. Now it that's showing a 42% drop I can live with it!
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