Am I Crazy?

[LTHLRB]

no mate, you must have the wrong idea

[Modena]

I want to sell my parents house, buy an R34 GT-R for me and my dad, move them into a nice unit, and buy myself a unit with the left over money?

Yes you are, with your current house, buy a second house, rent it out, then in 5-10 years time youll be laughing...cars depreciate, houses (the land) does not.

[eMsta]

Yes you are, with your current house, buy a second house, rent it out, then in 5-10 years time youll be laughing...cars depreciate, houses (the land) does not.

yep....use your current house to get a loan....but keep an eye on prices...go for those that are in areas where prices are on the up. 6 years time - you will be laughing. Your parents would be laughing. And you will get that elusive gtr. I used 6 years, because for the first 6 years you are exempted from capital gains if you are a first home owner.

Thats what I am doing now - 2 months ago I was going to sell the r33, and get a brand new mx-5 limited edition for 50k. Then paused for a second and thought about it. If I bought the mx-5 for around 50k - id have to sell my r33 (15k), then sell my shares (12k), then get my loan (30k - to accomodate for orc, insurance and what not). Then Id be living in my parents house for the next 2 years (maybe more) - and i sooooo wanna move out within the next year or 2.

Instead, I have money now in shares, going to get a couple of properties in a couple of months time to give out for rent, and modding the r33 on a budget. Later this year, or mid next year, when my shares have reached their peak - I will sell them, and reinvest in other stocks and get another property. Oh and If i have excess money lying around, the plan is to get a gtr or a lotus exige

edit: if you want more info - pm me. I can get my boss to help you make more money.

[R33GTS25]

I dont know what to do now lol. I was pretty sure in my head this was a good idea because we wouldnt lose any money nor would we be in any kind of debt. For the time being im leaving it all alone, i might just buy an apartment and rent it out and hopefully in about 3 years time ill have 60k and by then GTR's will probably be cheaper.

Edited May 26, 2007 by R33GTS25

[DECIM8]

yep....use your current house to get a loan....but keep an eye on prices...go for those that are in areas where prices are on the up. 6 years time - you will be laughing. Your parents would be laughing. And you will get that elusive gtr. I used 6 years, because for the first 6 years you are exempted from capital gains if you are a first home owner.

Thats what I am doing now - 2 months ago I was going to sell the r33, and get a brand new mx-5 limited edition for 50k. Then paused for a second and thought about it. If I bought the mx-5 for around 50k - id have to sell my r33 (15k), then sell my shares (12k), then get my loan (30k - to accomodate for orc, insurance and what not). Then Id be living in my parents house for the next 2 years (maybe more) - and i sooooo wanna move out within the next year or 2.

Instead, I have money now in shares, going to get a couple of properties in a couple of months time to give out for rent, and modding the r33 on a budget. Later this year, or mid next year, when my shares have reached their peak - I will sell them, and reinvest in other stocks and get another property. Oh and If i have excess money lying around, the plan is to get a gtr or a lotus exige

edit: if you want more info - pm me. I can get my boss to help you make more money.

One smart man...

[Phantom32]

no offense bruz

but thats selfish of you to wanna take that much cash away from your folks. They've worked their whole lives to get to this point where they can put their feet up. Let them get the apartment, and you a small unit - but getting them to buy you a GTR is a bit much mate.

Fair enough if they are going to give it all to you EVENTUALLY, but for NOW, let them have every luxury in the world - THEY"VE EARNT IT

and when you earns yours, you'll appreciate it 10 fold.

good luck, hope u make the right choice.

[Kinks]

selling assets to pump money into depreciating objects like cars is the dumbest move you can make.

but you sound like a pretty dumb person so yeah, go nuts.

I wouldn't even contemplate asking my folks to sell up to help finance my car habit. Pull your finger out of your date and go earn some money, sheesh.

[justin911]

god what a retard

[Paradizzle]

Good joke mate, i think you got a lot of people believing you lmao... dont know how they managed to fall for it!

[eMsta]

Good joke mate, i think you got a lot of people believing you lmao... dont know how they managed to fall for it!

damn....he was joking????

[Modena]

yep....use your current house to get a loan....but keep an eye on prices...go for those that are in areas where prices are on the up. 6 years time - you will be laughing. Your parents would be laughing. And you will get that elusive gtr. I used 6 years, because for the first 6 years you are exempted from capital gains if you are a first home owner.

Thats what I am doing now - 2 months ago I was going to sell the r33, and get a brand new mx-5 limited edition for 50k. Then paused for a second and thought about it. If I bought the mx-5 for around 50k - id have to sell my r33 (15k), then sell my shares (12k), then get my loan (30k - to accomodate for orc, insurance and what not). Then Id be living in my parents house for the next 2 years (maybe more) - and i sooooo wanna move out within the next year or 2.

Instead, I have money now in shares, going to get a couple of properties in a couple of months time to give out for rent, and modding the r33 on a budget. Later this year, or mid next year, when my shares have reached their peak - I will sell them, and reinvest in other stocks and get another property. Oh and If i have excess money lying around, the plan is to get a gtr or a lotus exige

edit: if you want more info - pm me. I can get my boss to help you make more money.

How are you going to get the properties?

You dont work yet right?

BTW good advice.

[gazza750]

Kill? you're crazy for even mentioning that.

Anything that leads to debt and owing money to a bank is a no no.

Yes i know modding a GTR is an expensive task, which is why im not going to. Just incase i do decide to get a little crazy, what would the price tag be on a top secret fully built GTR? close to 150k?

imports 101 have a trial r34 gtr for sale only $173 000 + costs of bring it back into a compliance able state + costs of chucking all the good bits back on again

[eMsta]

How are you going to get the properties?

You dont work yet right?

BTW good advice.

nah i work as a tax accountant....shit pay (around 35k - but living with parents) - but i think enough to convince the bank. Apparently banks are more than happy to lend for investments, so I have to build a strong case for them by doing research on what i wanna buy and all that.

[R33GTS25]

I wasnt joking, but i wasnt serious either, it was just something i wanted to throw out and see what responses and reactions i would get. Thanks alot fellas, i know we have alot of passionate and caring forum members here which makes me very very happy.

[-_-StRyDeR-_-]

woulda been interesting to know your thoughts if....you sell ur oldies house, u buy them the unit and urself one... u get ur car... u finally receive it and drive it for a week.... then it gets...stolen then you got the loan to pay back lol.

[sskylinee]

a gtr isnt an investment unless u can make money on it so how about sell the house and invest in three houses live in one for a while then when uve paid off a lil bit withdraw some $ out then buy ur gtr when its a bit cheaper

or better yet wait until u make $60k on ur investments then buy ur gtr. if u do this u will maybe realise that using the folk's money to buy an expensive car isnt such a great idea coz that amount of money isnt easy to save.

personally i would invest that money and put it towards my kids education. my parents would appreciate that more

but hey each to their own

[dnbutts]

the longer you put off selling the house, the more money you will make in the long run, property values are not going to depreciate like a GTR will...

[_8OO5TED_]

selling your parents house for a fleet of XY GT Falcons is probably a better idea.... atleast it will probably appreciate as quick as the house will.

[SiR_RB]

if you have a job, why dont u get a 50 - 60k loan and buy an r34 gtr, and leave ur parents in there house...

[Modena]

nah i work as a tax accountant....shit pay (around 35k - but living with parents) - but i think enough to convince the bank. Apparently banks are more than happy to lend for investments, so I have to build a strong case for them by doing research on what i wanna buy and all that.

35 k is ok for starting job... wok there for a year and look for higher paying jobs, just make sure you like the actual job.

This year I jumped from a shitty job that paid 35 K a year (sorry but I deserve a lot more for my knowledge and experience) to an awesome job that pays 11 K more. So look around.