[GhostyM]

Originally Posted by 04mazdaspeed

Yea if you own companies then this is probably way different. I'm just a average blue collar worker and my wifes a nurse. While her job is more secure, mine isn't forever either but I currently make more than she does.

Well fair enough, I wouldn't say my work is all too stable either since thats how it is to be self employed. It really does come down to stability at the end of the day.

[04mazdaspeed]

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.

[04mazdaspeed]

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

[GhostyM]

Originally Posted by 04mazdaspeed

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

Originally Posted by 04mazdaspeed

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.

I can't write it off fully just yet, but that's in the works for me.

Originally Posted by 04mazdaspeed

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

Haha! Thats how it is with women, my GF is very much the same way. But I got lucky so theres that.

[04mazdaspeed]

Originally Posted by GhostyM

I can't write it off fully just yet, but that's in the works for me.



Haha! Thats how it is with women, my GF is very much the same way. But I got lucky so theres that.

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!

[GhostyM]

Originally Posted by 04mazdaspeed

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!

That's awesome. Speaking of purchases.. im tempted to spend 5k for the exhaust for a downpipe + muffler back. Takes it from 480whp to 530whp. Not even with a tune. Fabspeed is the company.

[04mazdaspeed]

Dang....im sure it moves even stock...but more power is always the answer

[jmg]

Originally Posted by 04mazdaspeed

But you don't have to be. That's all a personal decision. I'm 28 and my wifes 22. We just paid off our house this year and own 4 cars outwright not including the vette I bought. It CAN be done. I choose to do it this way for my family incase anything ever happened to me, her and the kids wouldn't have to worry about a thing. Its all in how you look at it. Plus if either one of us ever lost our jobs, we wouldn't have to struggle. Hence why I like the security of not oweing anyone.

I think that's great for you if that's what you want to do. For me, I would not want to have paid so much out of pocket on something that appreciates at the same rate regardless of how much money I have put into it at only a 4-6% interest (jumbo). In other words, the benefits of a mortgage are that all the appreciation belongs to you despite how much of that balance you have paid off.

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.

[GhostyM]

Originally Posted by jmg

I think that's great for you if that's what you want to do. For me, I would not want to have paid so much out of pocket on something that appreciates at the same rate regardless of how much money I have put into it at only a 4-6% interest (jumbo). In other words, the benefits of a mortgage are that all the appreciation belongs to you despite how much of that balance you have paid off.

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.

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.

[04mazdaspeed]

Originally Posted by jmg

I think that's great for you if that's what you want to do. For me, I would not want to have paid so much out of pocket on something that appreciates at the same rate regardless of how much money I have put into it at only a 4-6% interest (jumbo). In other words, the benefits of a mortgage are that all the appreciation belongs to you despite how much of that balance you have paid off.

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.

I get what your saying and I am in the works for buying some apartment buildings so I can have that make me money but there is still risk involved. In your scenario, your risking losing everthing if you lost your job or became ill. I don't mind some risks but in this day and age I'm not about to risk my home which I could live in for basically taxes every month(350 a month) if anything happened to my job which anything could happen. So in your defense I understand what your saying but risk is high. In my defense I am after more security and still building a nice nest egg. Also, even if my house appreciated 150k in 30years, I would still be upside down considering what interest costs on a loan this much for 30years. Still to me more financial savvy to pay it off early.

[PoorLurker]

Originally Posted by FC4

Only poor people think leasing is a bad financial decision.

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.)

Originally Posted by GhostyM

That's why I'm buying properties as quick as I can afford them.

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?

[saeyedoc]

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.

[jmg]

Originally Posted by 04mazdaspeed

I get what your saying and I am in the works for buying some apartment buildings so I can have that make me money but there is still risk involved. In your scenario, your risking losing everthing if you lost your job or became ill. I don't mind some risks but in this day and age I'm not about to risk my home which I could live in for basically taxes every month(350 a month) if anything happened to my job which anything could happen. So in your defense I understand what your saying but risk is high. In my defense I am after more security and still building a nice nest egg. Also, even if my house appreciated 150k in 30years, I would still be upside down considering what interest costs on a loan this much for 30years. Still to me more financial savvy to pay it off early.

I wouldn't stay in the same house for 30 years to worry about interest. In and out every few years. Leveraging debt long the way.

[04mazdaspeed]

Originally Posted by jmg

I wouldn't stay in the same house for 30 years to worry about interest. In and out every few years. Leveraging debt long the way.

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.

[GhostyM]

My car will be here soon! It just got on a truck!! Salesman sent me a text so sorry about crappy pic quality!

[ACZakka325i]

Originally Posted by 04mazdaspeed

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.

I would be VERY careful about writing off a vehicle like an NSX through your own LLC. Technically you are allowed to write off only a portion of the lease miles that are driven after you get to work, not miles to and from work to your home. Yes it's confusing and no one really does this. But at the very least, you must have a vehicle with a purpose for work. I have a pretty luxurious pickup truck (GMC Sierra Denali) but it's still a logical company car.

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.

[Alfisti]

Originally Posted by ACZakka325i

I would be VERY careful about writing off a vehicle like an NSX through your own LLC. Technically you are allowed to write off only a portion of the lease miles that are driven after you get to work, not miles to and from work to your home. Yes it's confusing and no one really does this. But at the very least, you must have a vehicle with a purpose for work. I have a pretty luxurious pickup truck (GMC Sierra Denali) but it's still a logical company car.

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, this was yesterday's haul for decorating our businesses.

This.

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.

[GORDON.M3]

So awesome dude, great deal!

[GhostyM]

here it is!

[Kief]

Originally Posted by GhostyM

here it is!

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!!!

[GhostyM]

Originally Posted by Kief

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!!!

Thanks! Not a single update on the car... 3 months straight in 2 more days that I havent seen it.

[positiveions]

Originally Posted by GhostyM

here it is!

I was tempted to get an insurance quote from my insurance company-like the Bible said “take captive of your thoughts” and I did. If I didn’t have two car payments already.