des_si

dagle

we'll see after the prelude and the silver s2k go. if i do sell it ill probably build a H22 CRX or something to DD. nowhere near as fun as the S but still retains the ability to whomp on speedracer and the damned integra.

shehatezme

Sell and invest in property. Cars can be replaced later.

dagle

thats true, im gonna list it on craigslist tomorrow for 23k and see what kind of offers i get.

slightly2ned

Yea, just as it sits with all the mods. If I do the math it should add up to that once I part out + car KBB. But mods never add value to the car, so will have to part out when the time comes.

Voodoo_S2K

How many of you here could afford the mortage on a house, even if you had the down payment? I bet very few.

jasonw

I wouldn't buy an individual property for an investment purpose either. 1 fire/earthquake/bad tenant and you ####ed. There are ways to have a more diversified position without the requirement for debt/leverage. Look at REITs(like ICF) if you really think real estate is going to bounce. But if you think that, you should look at this:


http://www.calculatedriskblog.com/2009/01/...ll-sharply.html

Sliq

got coilovers? ill trade you my stock suspension with Swift Springs plus cash on my end for them if you gots em!

dagle

this is an interesting idea i've been thinking about and discussing with my economics teacher in class. he argues that you can have your cake and eat it too. the idea would be that if there is an opportunity to get cheap property in a down market, you can rent it out and use that rent to live where you truly want to. the idea would be that the house "pays itself off"

i mean thats the ideal situation without factoring in bad tenants, natural disasters and whatnot of course. has anyone been looking at the housing market in sacramento? you can get a 2BR 1level house for like 80k.. the thought is pretty appealing, to me at least. but if i were to pursue a property it would probably be closer to a college town like SJ or somewhere in the eastbay. but damn, thats a pretty huge step at 18.
oh and of course, not on my credit.

dunno, we'll see. i have to deal with getting rid of these things first

Voodoo_S2K

Renting investment properly out is much easier said then done. My parents at one time have many rental properties that they owned, and they ended up dumping most of them over time because the return on investment wasn't worth it. If your Economics teacher hasn't done it themselves, they have no idea what they are talking about. It's easy to talk about it in theory, it's another to actually do it.

Do you plan on managing the property yourself? Can you do the needed repairs? What happens if a water heater goes out, can you afford to replace it immediately? If you can't manage it yourself, or don't live close enough to, then you have to pay someone to do. There goes any profit you might have realized.

You will have bad tenants, it's just a fact, so definitely plan on it. One bad tenant could cost you several thousands of dollars in either lost income or repairs.