Jump to content
SAU Community

what to do with the 20 grand  

59 members have voted

You do not have permission to vote in this poll, or see the poll results. Please sign in or register to vote in this poll.

Recommended Posts

If your Nan has died & you really want to spend it on a car, spend it on it so that there is less chance you will be joining her in the ground & spend it on quality brakes, suspension etc....

Personally I'd buy a house with it.

  • Replies 82
  • Created
  • Last Reply

Top Posters In This Topic

Well im glad i got into this one if a little late.

Apart from tigeryas idea there have been few great ideas apart from "buy a house". I heartily endorse this plan without even looking at you in closer detail. The sooner you do this the better your midlife crisis car will be:D

Direct shares if done well can make you a nice return, they can also make you lose ("loose" for teh gramatically impaired) everything and will require much time and effort plus sleepless night worrying about teh price of corn in soviet russia vs the molasses index in southern america.

Still if i were your age id blow it on mods,hookers and blow and regret it later. Good thing you are asking for advice though.

Wait are you working now full time?

Do what i did dude. You'll thank yourself and everyone else that suggested it later ^^ I put a deposit on a house 3 months ago and with the help of my olds they got another house with it to. You might not beleive it but a we bought a block of land up in the hills for 50k. Bare block that is and 3 years later sold it for 225,000 lol you do the math. Sleep on it. Trust me took alot for me olds to drill that into my head but now the block that i currently have in the 3 months has gone up by 30k. 20k is a good amount for a deposit. Keep it for atleast a year and you would have made easy double your deposit on it after you sell it :pirate: And hell you wont have to pay shit if you have people occupy tha house as the rent will pay your repayments! hahaha not bad for a 20 y/o...although im thinkin 34 gtr now mmmmm.

how bout invest it, and spend the money u make on top of the 20k on the car, that way u have the 20k u started off with saved and u are only spending the money it made u lol

kidding prob wont be much anyways, but yeh INVEST IT!!!

Ahhh...start working mebe? lol take your chaces at tha cas if you like....perfect pairs ftw :pirate: dont pay attention to me k. Oh and dont go on tha piss while trying to make a decision on this...TRUST ME! Bad things happen...rofl!

I get what you are saying there tales but im not big on investment properties cause of the teh associates risk and tax implications. Unless you are living in your own house "sole residence" i think its better off elsewhere. Plus i dont think property will do as well as it has in the past. Doesnt seem possible.

man have another house ie investment what tax implications you only have tax implications when you soley own the house outrite but if its owned by the bank its a different concept, you can claim negative gear and stuff man ive put so my tools and machinery claiming it through from the house you dont see it striaght away but later down in the track

ivestment in property is good if you take it the rite way like seeing accounts and property management

man have another house ie investment what tax implications you only have tax implications when you soley own the house outrite but if its owned by the bank its a different concept, you can claim negative gear and stuff man ive put so my tools and machinery claiming it through from the house you dont see it striaght away but later down in the track

ivestment in property is good if you take it the rite way like seeing accounts and property management

good like buying a house with 20k and no job... every bank will tell you to get f*ked :D

Treu you can negative gear an investment property but if Sam is not making much of an income its unessacary, the govt cant give you free money :) maybe neutrally geared (renter pay same as loan repayments) would work but that would be interesting to see due to the fact that rental prices arent really in line with purchase prices unless you find a good deal, in which case 20k is only a 5% deposit on a below average 400k house. Then there is the capital gains tax that will be payable when he sells it which could be a nice chunk of change with nothing to write it off against. Not so bad if you plan to keep it a while i suppose.

Then of course you will have worries with getting a loan under your own name and i would say your folks would have to go down as gaurantour for that debt. As long as you dont decided to have a 6 month holiday in teh next 5 years and have finshed studying you should be fine.

or yer go see a financial adviser....read: disclaimer :D and no im not just pluggin my industry...

deposit on a house/property

if you have a steady job, some banks will give you a loan, and then, the advantage with a property/house is that you have equity, meaning that you *possibly* could buy a rental property with the equity, sit on it for a period, sell the rental for more than you got it, repay back the loan for the rental, plus more 4 yourself

i know its a full on thing, but this is what my folks have done, they pay back only the interest on teh original mortgage, using the rental payments to pay off the rental loan, and they want to sell the rental soon, making approx 50-100k on it, repay the rental loan, plus a lot of the original loan

this is what a lot of investment people do, they keep buying rentals, cause it gives them equity to buy another, and so on and so on, till they got lots of propertys, then after a while they slowly start selling some of to repay back loans and in the process becoming very rich

quiz796outcome3.GIF

No sir, i dont like it.......

Yes you can argue that over teh past 5 years the above would have been a great strategy. In an academic sense though, there is zero diversification and while you still say volatility is relatively low, liquidity is too.

This means that if you buy up now which some have said is nearing the top of this property boom you are left with either a huge loan to service or, if you sell, a huge capital gain to deal with. Using the equity is a great plan and yes i totally agree with that strategy but to buy more property... now... i, as i said before, dont like it :mellow:

C/N: Buy a home to live in =good. Buy a home for investment = bad.

ps: if we see a year like the last for property ill eat my own hat *runs though house collecting all hats to give to salvos*

yeah, the market is a tad unstable atm as its likely to fall out really soon, but could also continue to increase

its one of those things that could turn out to be really good, or fall on its ass really bad

heck ur the financial advisor, im just a uni student doing a science degree




  • Similar Content

  • Latest Posts

    • Update 3: Hi all It's been a while. Quite a lot of things happened in the meantime, among other things the car is (almost) back together and ready to be started again. Things that I fixed or changed: Full turbo removal, fitting back the OEM turbo oil hardlines. Had to do quite a bit of research and parts shopping to get every last piece that I need and make it work with the GT2860 turbos, but it does work and is not hard to do. Proves that the previous owner(s) just did not want to. While I was there I set the preload for the wastegates to 0,9bar to hopefully make it easier for the tuner to hit the 370hp I need for the legal inspections that will follow later on. Boost can always go up if necessary. Fitted a AN10 line from the catch can to the intake hose to make the catchcan and hopefully the cam covers a slight vacuum to have less restrictive oil returns from the head and not have mud build up as harshly in the lines and catch can. Removed the entire front interior just shy of the dashboard itself to clean up some of the absolutely horrendous wiring, (hopefully) fix the bumpy tacho and put in LED bulbs while I was there. Also put in bulbs where there was none before, like the airbag one. I also used that chance to remove the LED rpm gauge on the steering column, which was also wired in absolute horror show fashion. Moved the 4in1 Prosport gauge from sitting in front of the OEM oil pressure gauge to the center console vents, I used a 3D printed vent piece to hold that gauge there. The HKB steering wheel boss was likely on incorrectly as I sometimes noticed the indicator reset being uneven for left vs. right. In the meantime also installed an airbag delete resistor, as one should. Installed Cube Speed premium short shifter. Feels pretty nice, hope it'll work great too when I actually get to drive. Also put on a fancy Dragon Ball shift knob, cause why not. My buddy was kind enough to weld the rust hole in the back, it was basically rusted through in the lowermost corner of the passenger side trunk area where the wheel arch, trunk panel and rear quarter all meet. Obviously there is still a lot of crustiness in various areas but as long as it's not rusted out I'll just treat and isolate the corrosion and pretend it's not there. Also had to put down a new ground wire for the rear subframe as the original one was BARELY there. Probably a bit controversial depending on who you ask about this... but I ended up just covering the crack in the side of the engine block, the one above the oil feed, with JB Weld. I used a generous amount and roughed up the whole area with a Dremel before, so I hope this will hold the coolant where it should be for the foreseeable future. Did a cam cover gasket job as the half moons were a bit leaky, and there too one could see the people who worked on this car before me were absolute tools. The same half moons were probably used like 3 times without even cleaning the old RTV off. Dremeled out the inside of the flange where the turbine housing mates onto the exhaust manifolds so the diameter matches, as the OEM exhaust manifolds are even narrower than the turbine housings as we all know. Even if this doesn't do much, I had them out anyways, so can't harm. Ideally one would port-match both the turbo and the manifold to the gasket size but I really didn't feel up to disassembling the turbine housings. Wrapped turbo outlet dumps in heat wrap band. Will do the frontpipe again as well as now the oil leak which promted me to tear apart half the engine in the first place is hopefully fixed. Fitted an ATI super damper to get rid of the worn old harmonic balancer. Surely one of the easiest and most worth to do mods. But torquing that ARP bolt to spec was a bitch without being able to lock the flywheel. Did some minor adjustments in the ECU tables to change some things I didn't like, like the launch control that was ALWAYS active. Treated rusty spots and surface corrosion on places I could get to and on many spots under the car, not pretty or ideal but good enough for now. Removed the N1 rear spats and the carbon surrounding for the tailpipe to put them back on with new adhesive as the old one was lifting in many spots, not pretty. Took out the passenger rear lamp housing... what do you know. Amateur work screwed me again here as they were glued in hard and removing it took a lot of force, so I broke one of the housing bolts off. And when removing the adhesive from the chassis the paint came right off too. Thankfully all the damaged area won't be visible later, but whoever did the very limited bodywork on this car needs to have their limbs chopped off piece by piece.   Quite a list if I do say so myself, but a lot of time was spent just discovering new shit that is wrong with the car and finding a solution or parts to fix it. My last problem that I now have the headache of dealing with is that the exhaust studs on the turbo outlets are M10x1.25 threaded, but the previous owner already put on regular M10 nuts so the threads are... weird. I only found this out the hard way. So now I will just try if I can in any way fit the front pipe regardless, if not I'll have to redo the studs with the turbos installed. Lesson learned for the future: Redo ALL studs you put your hands on, especially if they are old and the previous owners were inept maniacs. Thanks for reading if you did, will update when the engine runs again. Hope nothing breaks or leaks and I can do a test drive.
    • No those pads are DBA too  but they have colors too. I look at the and imo the green "street" are the best.
    • I’m not sure what happened I told them about sonic tunes free OTS tune and the next the I know .. I was booted..   To funny 
    • Yea - I mean I've seen my fuel pump which is decades old and uh, while I'm not saying this with real knowledge... but I sure get the ick at using anything in the fuel system that produced the state of that pump. Many years ago I went through multiple pumps (and strainers) before I dropped the tank to clean it out with extreme violence. I'm talking the car would do maybe 50km before coming to a halt, which resulted in me cleaning out the filter with some brake cleaner and going on my way. None of my stuff ever looked like what came out of your fuel tank. I don't think I'd be happy with it unless every single component was replaced (or at least checked/cleaned/confirmed to be clean here).
    • I'm not going to recommend an EBC pad. I don't like them. Just about anything else would suit me better. I've been using Intima pads for a while now.
×
×
  • Create New...