11-21-2017, 08:05 AM | #111 | ||
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11-21-2017, 08:06 AM | #112 |
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If you have a way to write off expenses like a leased car for your business then that route I would probably take as well.
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11-21-2017, 08:09 AM | #113 |
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In a way, I almost feel like my own boss since I don't really owe anyone. I could walk out tomorrow and look for something else and still have my head above water. Ive been trying to con my wife in letting me be a stay at home dad(not that I want to be)...I got a water bottle thrown at me in the process....hahaha
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11-21-2017, 08:12 AM | #114 | |||
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11-21-2017, 08:15 AM | #115 |
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No trust me, I'm the lucky one. She gets excited when she goes to the dollar store and spends 20 bucks and comes home with like 4 bags of shit...all the while I just spent 5grand on home theater subwoofers....lol I love it!
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11-21-2017, 08:22 AM | #116 | |
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11-21-2017, 10:18 AM | #118 | |
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Here's an extremely simplified scenario: you mortgage house A and pay it off in 5 years. You spend $400k out of pocket to pay off the mortgage. At the end of 5 years the house is worth $550k. You profit $150k. Alternatively, you could have mortgages 2 homes instead, paying only balance due. Assuming a $2.2k payment that's $132k x 2 for two homes = $264,000 total out of pocket in mortgage payments. But at the end of 5 years you have $150k x 2 = $300k in appreciation. Compared to the first scenario you have made almost twice as much with a little over half the investment. In the real world you would ha e to calculate what was lost in interest payment from the mortgage balances and property tax in all scenarios, so it's actually not quite twice the profit, but you get the idea. In actuality, you could have gotten 3 homes instead of 2 but the risk is too high at that point.
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11-21-2017, 08:24 PM | #119 | |
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100% correct. Having two houses is literally more financially feasible than paying for one.. there is a reason people always say there is money in real estate! The first home you pay for.. you pay to live in. The second home.. pays for itself AND pays for your FIRST home. I live in my first home (Thanks Dad for giving me a house, I just had to pay mortgage, he moved to a sunny state!). In 2002 when he bought it.. it was 195K so payments were about 1150 to 1250 a month. I got my house appraised last year.. 495k. I didn't do anything besides renovate a bathroom/kitchen. Total out of pocket maybe 20k. That's why I'm buying properties as quick as I can afford them. |
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11-22-2017, 07:18 AM | #120 | |
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11-22-2017, 09:39 AM | #121 |
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You rang?
Leases are horrible decisions! (BMW, Benz, and Maserati have some great deals though. Honda is actually coming around with some low, low payments. Actually saw an infiniti for $300/mo out nothing out the door. That's the price of driving a Honda Fit. But, I typically keep my cars for a long time. If I bought a 991 GT3 I'd want to keep it for 30 years and be that old guy at Cars and Coffee with a photo album of yellowing photos showing it to kids who drive up in their Tesla Millennium Falcons.) I like this guy's life. 25 years old buying up houses left and right in Oregon which isn't cheap either. This NSX is quite the deal. I wonder what they will be selling for in three or four years when these lease deals end. I remember 10 years after the first one was on the market, they dropped into the $20k range. Will this NSX ever see $40-50k? |
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11-22-2017, 12:13 PM | #122 |
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Leases are GENERALLY a bad decision, but when you get a big discount off MSRP, and a decent MF and residual, they can be very good. Especially on a new model like this where value in a few years is unknown.
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11-22-2017, 01:16 PM | #123 | ||
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11-22-2017, 01:32 PM | #124 |
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Yea sadly I'm stuck here in shit hole Illinois until I retire. I couldn't find another job like mine making what I do anywhere else.
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11-23-2017, 02:47 AM | #125 |
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My car will be here soon! It just got on a truck!! Salesman sent me a text so sorry about crappy pic quality!
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11-23-2017, 07:12 AM | #126 | |
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I once knew a man who owned a restaurant and was writing off a Ferrari. He got audited and it was not pretty. YMMV. For giggles, here's a picture of our haul yesterday. We were decorating our businesses.
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11-23-2017, 08:51 AM | #127 | |
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We are business owners and I have done ALL the math, i broken it down a million times and once it is all said and done all you really save is about 12% when writing off for company use. Leasing vs brand new is very tight, but if you own the car past 5 years then buying comes out cheaper. Leasing vs CPO is a no brainer, CPO EVERY TIME. |
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12-03-2017, 10:00 AM | #128 |
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So awesome dude, great deal!
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12-03-2017, 11:16 AM | #130 |
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We'll miss you over on the Jag Forum (I mean the four us who are under 42yrs old!)...still no updates from JLR? They are ridiculous!!!
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12-03-2017, 12:15 PM | #131 |
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Thanks! Not a single update on the car... 3 months straight in 2 more days that I havent seen it.
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