WTF?? why do people hate?

[RON98]

Hey drop by and take a look at the 355 . :smile:

What was the process to getting in to realistate investing? Always wanted that as my eventural goal but never had the glimps in to it. :biggrin:

always thought it was too much money and out of my league, maybe it no longer is after 3 years with nose to the grind stone.

if you invest with pennies, you only get pennies in return. thought i was doing a bit better than pennies but hey, always bigger fish out there and im eager to learn.

i would be more than greatful if some one can teach me the ropes. I'll offer up 25% of my after tax income for the first 2 years as a "mentor appreciation fee" Im highly motivated, hard worker, quick learner. :wink:

31!!! wow your over the hill already j/k:tongue:

 

[Meeyatch1]

No offense taken. I know what you meant. Does having a higher profile car lend it more likely to be vandalized? I have no idea why ppl would key a Ferrari, Lambo, NSX...it's like destroying a piece of art.

Sometimes higher profile just attracts jealous idiots. Like the time I spent all day...I mean ALL DAY...waxing my NSX to make it mirror perfect. I drove over to Border's to get a book and was in there 5 MINUTES!! When I came out there was spit ALL OVER my car. In 5 minutes some tools must have seen me park, walk in, and then they went out to spit on my car. I was upset and confused....also a bit sad, as to why people do things like that to someone that did nothing to them. :frown:

 

[NSXFRIEND]

Sometimes higher profile just attracts jealous idiots. Like the time I spent all day...I mean ALL DAY...waxing my NSX to make it mirror perfect. I drove over to Border's to get a book and was in there 5 MINUTES!! When I came out there was spit ALL OVER my car. In 5 minutes some tools must have seen me park, walk in, and then they went out to spit on my car. I was upset and confused....also a bit sad, as to why people do things like that to someone that did nothing to them. :frown:

The word Envy comes from Envidio(i think) which means evil eye or desire. I had an old 911 and would get cut off by big trucks all the time, once i had this fat butt rocker chick flip me off because she could not beat me in a straight line race or she did not like my car who knows.

 

[dmz]

When I read this post. I was like WOW! I don't even know where to begin. But then I read that you are 23 and it explains a lot. Good luck to you!

100% financing..... you gota be kidding right?? with an adjustable short term morgage too boot?

you dont get something for nothing.

i dont have to worry about property tax at 1/2% of 600,000-1 million ( you cant touch anything for under 600K in cali ). Also no maintaince, upkeep, cutting the lawn, high energy costs to heat a house + the rediculous morgage payment. 1/2 of the total goes in to the pocket of the bank.

Dont look at the monthly rates. Thats the lube before the rape. Look at what you pay over the life of your loan. If you borrow 500,000$ over 30 years at a fixed rate of 6.75% your ACTURALLY going to pay over 960,000$ ( this is with a 10% DOWN!... or was it 20%? its one of these 2 figures. If you got 0% down... your well beyond 2X the purchase price. ) for the loan... which means you just about bought your housee TWICE. I dont think so! with a reasonable 7% loan on 30 years at 500K, your looking at about 2500-3000$ a month depending on credit, once again, for the first 20 years what you pay does not even go toward your principle (barely). My rent is 1300, i pay that easily and dont really mind that i dont build equity. In not paying for any of the upkeep and taxes of ownership. If i put an extra 1500 a month in the bank, in 30 years i'll have 500K sitting there + i can enjoy my cars in the mean time and dont have to worry about the preasures of making payment and slaving away for the bank... i can easily put away 1.5K a month thus i'll get there must faster and also enjoy the cars in the mean time. This makes more sense to me.... Also if i put the money in a CD account at lets say 5%. at 500k that nets me over $25,000 a year.... WHICH Would PAY for my rent and than SOME.... so that means... i'll be living at a nice place for FREE and get paid 1000+ dollars a month to live there.... WHY Bother BUYING?!?!?! its higher if you can invest corretly. Not tooo shabby.

If you have cash, you have options. If you have a house with a morage, you dont got much. the saying goes " money talks " if you have all your money tied up in your house, you aint speaking too loud. besides, everyone has a house, not every one has cash. If you see a great business that generates good cash flow... if you have cash in the bank, you can purchase it and make $. If you have a house? with your 3000$ a month in morgage and your slaving away just to save up for that properity tax.... your out of luck my friend. Even if the business is just so awesome that you want to sell your house and purchase it, your looking at month or two to sell it in an average market + broker fees and 30 days to clear escrow.. but that time, someone like me would have already purchased the business leaving you thinking what if......

if you take equity out of your house.. its going to take time. What if you want to have a toy or two? maybe drive that ferrari or lambo?... take equity out of your house?.... lol tack on a few more years and 10s of thousands in interest charges! you cant even play with your toy with out paying a premium.

So the opertunity cost of owning a house is not so appealing if you really think about it. Dont buy into the whole pride of ownership crap, its over rated and it under delivers in performance and ROI. This is the lame duck way of thinking. The realitors and the bankers would love to feed you that story since the bank is getting you to pay for the house twice and the broker gets to take your money when you buy and take it again when you sell... lol if i was a banker or a broker, i would be sing high prases for ownership. Think like a common man and you'll recieve common things. Out think and out perform thats the key.

you can build equity in your bank, or you can build it FOR your bank.

work for the bank for 30 years... or enjoy nice cars for 30 years and buy your house too... hum.....

ofcourse im over looking properity appreciation but i also invest on the side for that 10-20%. for the sake of argument, lets say the appreciation of the house is 10-20% ( which it is far from in todays markets ) so everything brakes even there.

Im waiting for all the idiots doing the 100% financing to eat their idiocy and default. I'll just liquidate my car collection when i need to and get money out and take advantage. if it was not for all the stubid morgage programs like the 100% and 110% loans we would not be in such a state of housing hype. Also i have back up funds in the bank for a down payment... i dont spend every cent i got on cars.. that would be just silly.

yes yes, cars is not a liquid asset.... yes it is if you sell it at below market value. If i wanted to sell both my nsx at 10K each and my ferrari at 50-60k.... im pretty sure ill sell them in 1-2 hours.

Im not a big fan of leverage. My mother taught be better than to buy stuff i cant afford. I play with in my means. Never took out a loan in my life and im not a fan of give some one else my hard earned money. compounded interest is just no no in my books.

yes the lady that purchased the house was a 100% return on investment. 3 years ago. im 23. still got lots of time left to get there. when i was 20, the housing hype started. I didnt have anything to my name and a house of not with in my means.

My analysis is correct. it might be wrong when your in the box, but when your out side..... it looks very right. Im in the black, i have equity in the bank, i dont have a penny worth of loans, no visa, no morage, no car loans, I have very nice cars paid for by my blood and sweat ( 3 years and not no vacation yet or in sight), i have a great business that pays the bills and im working harder everyday to out perform so i dont have to worry when im older and i can enjoy the good things when im young and able.

btw, go find out what your paying for the life time of YOUR home.

down payment + (monthly payment x 12 x # of years ) = WOW your paying too much. :biggrin:

 

[Ski_Banker]

When I read this post. I was like WOW! I don't even know where to begin. But then I read that you are 23 and it explains a lot. Good luck to you!

I'll stick up for the little guy...Ron...because conceptually, IMO, his consumer purchase decisions are spot-on and responsible. Further, he shows a good deal of intelligence and maturity by recognizing what he doesn't know (spec real estate) and that he needs to learn. Are some of his finance numbers incorrect? Sure. Will he take the time to learn the details? I think so. Contrast that with the rest of us know-it-alls (that clearly don't based on what I've seen of finance on Prime, not to say I do either).

Dude - keep studying investing, CONTINUE taking the conservative approach as you are doing now, and you'll be way ahead of most folks in no time.

My only specific comments on "buying cars as a store of value until investment opportunities arise" is 1) (obviously) opportunity cost & depreciation and 2) (not so obvious) often the best times to invest in any asset are when everyone else is hurting, times of crisis as an extreme example. At those times, however, the illiquid market for your sports cars may all but disappear -- leaving you with no funds to invest when you need them most. Really bad value correlation with other assets at the extremes.

 

[redshift]

Only assuming she had no mortgage. With a traditional mortgage of 80% LTV ($400k), her return would be 1000%.

Wow, way off there.

Assuming that 80% LTV, deductible interest, and a 7% cost of capital, she made about $550K on paper from a $100K investment.
That's about a 75% ROI per annum if she sells her primary residence and has no closing costs... not quite 1000% and I didn't even include taxes.

Okay... back on topic... I really like Stick-e-rice's responses.

 

[ericwgnsx]

For RON98:

You should find this therapeutic: Scroll down to the "2002 Anti Auto Theft Devices". There are 2003 and 2004 versions also.

http://www.stickdeath.com/frameset.htm

Not exactly the Buddist way, but funny nonetheless.

 

[LeftLaneNSX]

Well heres a thought to all the real estate speculators trying to state that people on here know nothing about finance.

Where I live (Chicago) owning a condo is around 1.8x in total expenses vs. renting. Sure rents will rise over 30 years, but so will property taxes/HOA fees/maintenance bills and everything else but the mortgage (even maybe that too depending on the type). I can't imagine places like California and its housing market, or why a person would want to pay taxes on a grossly inflated home 'price'. If you believe the market works correctly there should be some equilibrium between rental yields and housing prices and that doesn't appear to be the case these days. Why set yourself up to pay taxes on a very high value asset that you actually have very little equity initially? I know I won't get caught up in the "ownership" delusion because I studied finance/economics in school and realize that at the end of the day the best ROI for me would be renting and then stashing the equivalent of the principal portion of a modest mortgage into a fund.

Sure the returns on RE speculation CAN be fantastic, but don't think that there isn't a similar amount of risk in that business. I wouldn't want to be caught holding RE in California these days, or even in the RE business at all.

My returns will likely never be as good as the successful speculators, but I can guarantee the Sharpe ratio of my portfolio is higher :wink:

 

[Liquid]

Wow, way off there.

Assuming that 80% LTV, deductible interest, and a 7% cost of capital, she made about $550K on paper from a $100K investment.
That's about a 75% ROI per annum if she sells her primary residence and has no closing costs... not quite 1000% and I didn't even include taxes.

Okay... back on topic... I really like Stick-e-rice's responses.

You are right. I forgot to deduct the mortgage from the quick calculation I did... but after doing that (500%+ total return) we are basically in line with one another except yours is an annual return and mine is a total return. There isn't likely to be a negative tax impact if it is her primary residence and she's married, but there will also be about $25k in tax credits they will receive over the first three years (assuming a mortgage at 6%) as a result of the interest tax deduction. Property taxes and closing costs are likely to roughly offset the interest tax credit.

My point was just to illustrate how mortgage leverage dramatically changes the ROI calculation rather than having a detailed discussion of the financial return of this lady one of us knows.

LeftLane, make sure when you make those comparisons you are considering equivalent properties. Many people buy something much nicer than they rent which makes the comparison of own vs. rent skewed right out of the gate.

 

[sgvnsxrated]

Sorry to bring up some bad memories for some of you. But I need to vent.

Yesterday I spent some quality time with my NSX. Gave it a nice wash and vacuumed.

Today I come out and I see a key mark about 15 inches long on my right side. I'm not even sure when or where it occurred.

Jeez..whats wrong with people these days? Anybody have any idea if it can be fixed without having to repaint? It's deep enough in some areas where you can see white through the black paint, but not bare metal.

 

[unit-x]

Sorry to bring up some bad memories for some of you. But I need to vent.

Yesterday I spent some quality time with my NSX. Gave it a nice wash and vacuumed.

Today I come out and I see a key mark about 15 inches long on my right side. I'm not even sure when or where it occurred.

Jeez..whats wrong with people these days? Anybody have any idea if it can be fixed without having to repaint? It's deep enough in some areas where you can see white through the black paint, but not bare metal.

It's hard to drive a nice car where you live without it getting messed with. I know a shop in duarte that might be able to fix that. PM me if you need the info.

 

[enesexdreamer]

the 0ther night i had s0meb0dy give me a dirty I00k, he spit 0n my car then sped 0ff; at Ieast n0 damages, but dang, whats up with pe0pIe??

 

[unit-x]

the 0ther night i had s0meb0dy give me a dirty I00k, he spit 0n my car then sped 0ff; at Ieast n0 damages, but dang, whats up with pe0pIe??

When I was young, I was sitting in the back seat of my sisters friends civic hatchback si (those were the poop back then) on san gabriel blvd about to make a left on valley and my sister glanced at the vato in a bucket to the right and gave him a smirk. He got out of his car and started hitting her through the window. She deserved it but damn.

 

[enesexdreamer]

When I was young, I was sitting in the back seat of my sisters friends civic hatchback si (those were the poop back then) on san gabriel blvd about to make a left on valley and my sister glanced at the vato in a bucket to the right and gave him a smirk. He got out of his car and started hitting her through the window. She deserved it but damn.

WTF?! thats crazy, caIi is just crazy; but that d0esn't disc0urage me t0 drive my car every chance i get;

 

[Paul91]

I've been following this thread for awhile. I'm wondering if a lot of the people damaging nice cars are the hardcore environmentalists that don't think cars are necessary. Some of them are so irrational, that they think all cars and their drivers are evil. Especially cars that run on gas only, and are exotic.

I know a lot of the NSXs out there are in California, where many environmentalists reside. I'm in Chicago, and we see a lot of it too.

Please don't get me wrong, this is by no means a statement of fact. Just an unproven theory that may be worth thinking about.

I'm just as confused as everyone else. If you went into a museum, would you spit on an artist' painting because it was expensive or you didn't like it?!

 

[NimbleSexyXquisite]

I've been following this thread for awhile. I'm wondering if a lot of the people damaging nice cars are the hardcore environmentalists that don't think cars are necessary. Some of them are so irrational, that they think all cars and their drivers are evil. Especially cars that run on gas only, and are exotic.

I know a lot of the NSXs out there are in California, where many environmentalists reside. I'm in Chicago, and we see a lot of it too.

Please don't get me wrong, this is by no means a statement of fact. Just an unproven theory that may be worth thinking about.

I'm just as confused as everyone else. If you went into a museum, would you spit on an artist' painting because it was expensive or you didn't like it?!

I think its the "Dennis the Menace" Complex. *Sigh*

One day I had a Tomato thrown at me while I was driving. It hit my neck with a hard impact. I touched it with my hands at first I thought I got shot and was bleeding, but then it smelled like ketchup so I was like WTF. I was going out that night but instead I stayed home, Cleaning tomato out of my leather ulpostery.

 

[sgvnsxrated]

These people have jealously issues. They turn their jealousy into acts of vandalism.

A normal person would ask about the car, ask what they do for a living and use that information to better themselves and hopefully after some hardwork own a car like ours one day too. Instead they give up automatically, get angry and decide to destroy what they can't own.

Although I was very upset, I don't think I'll resort to violence (even though thats the first thing that came to mind)

Get it fixed, and learn an important lesson. Don't ever leave your car out of sight.

 

[Tony Montoya]

Even when they love it they hurt it. I had some guy write his name on my dirty car and then erase it because he thought I could trace him. He also wrote ACE on the trunk. Nice fine scratches in the paint. Hopefully they buff out.

 

[ajnsx]

I've had a cigarette tossed into my car, yes it was lit.

In my experience these people usually are; fans of V8's (australia they are quite passionate)/uneducated buffoons (yes i realise they're are educated one's too)/general haters for people with anything nice.

As for responding with violence, a lot of these people can't be reasoned with. Sometimes a smack in the head is all that works. Did saddam listen to reason? Nope. Next step...violence. "Such Is Life." (Ned Kelly) Vicious meet circle.

 

[nsxsupra]

In my experience these people usually are; fans of V8's (australia they are quite passionate)/uneducated buffoons (yes i realise they're are educated one's too)/general haters for people with any nice.

Funny you mentioned this, my brother live in Sydney. When I asked why do these half pick up, half car look alikes come with bremo brakes. He told me they are Australian muscle similar to our American muscle. Holden is fast/farst, they have a big following for these cars :biggrin: The Holden Commodore SS does look decent.

 

[ajnsx]

Funny you mentioned this, my brother live in Sydney. When I asked why do these half pick up, half car look alikes come with bremo brakes. He told me they are Australian muscle similar to our American muscle. Holden is fast/farst, they have a big following for these cars The Holden Commodore SS does look decent.

"Utes" as we call the half cars(like the torino?), are part of our history and heritage. The Holden Monaro (another big piece of Aust. history) was used as a base design for the U.S Pontiac (although the engine is based off of a corvette, i believe?) and was the American drift series champion driven by a New Zealander. :smile: Danger awaits for those who come between an Aussie an' his V8 mate.:biggrin:

 

[eddiensx]

It could always be worse. THE FIRST DAY I parked my car in the garage my wife closed the garage door in it and put 2 big gashes in the rear bumper. I got the car repainted and 3 months later she dropped some wood on it!! Now I'm looking for a Dentpro to see if they can help me out.

 

[ShiftyBob]

Now I'm looking for a Dentpro to see if they can help me out.

Sounds like you need to look for a new WIFE!