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Originally posted by pissedoffsol@Jul 13 2005, 03:29 PM
i know jersey is a shit hole, and i'd never live there. i don't see how that's relevant?
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Its relevant because the small piece of property I live on is what a piece of property 2x as large is up by you.

Its all about the demand


Regardless of how much of a "ghetto" you think there is, there's jobs in the area. As long as theres jobs, there will always be a demand for living spaces. What changes with a condo or with a home? I didn't say by the cheapest condo you can in the shittiest area you can find so no one will ever want to live there. Buy a condo/town house or even rent one so you can be out on your own. Save and then by a house when you have more money to buy one in an area that you can afford.

Obviously you have bigger dreams and aspirations than your piggy bank. What you can afford now is what that fuckhead who's going to move in next to you and steal your shit can afford. You can get into a $250,000 home? Well thats the next ghetto.

Middle class homes are now $300,000-$400,000. A $250,000 house is what in today's market you buy and rent to those low income families.

My point is in a house you can't even afford a nice area, in a condo you can.
 
Originally posted by reckedracing@Jul 13 2005, 03:34 PM
condos are only updated as often as the owner renovates them...
plus there is the associaton fee whatever the fuck, which basically amounts to you paying fucking rent for your own house...
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It depends if you buy or rent. And when renovations occur, they're usually cheaper to a condo OWNER because they get a discount because of the quantity of homes being done. They want all the condos to look nice and cookie cutter. The association usually gets discount for both renters and owners.

You also have the benefit of someone doing your landscaping for you and basically everything else you need.

and just because CT doesn't have nationally high ranking crime rate it doesn;t mean crackers are not gonna be doing the "white flight" from the burbs when thugs start moving into the area...

crime rate or not... if the neighbors go down hill then so does your home value...
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Your logic isn't sound. If all the "thugs" are the people with low income, then they cannot afford to move into a relatively expensive area. As I said, I didn't say get some run down shit ass condo, I said get a nice condo. Brand new condos are nice and usually bring a nice crowd of young people who can afford them.

Never did I ever say go into some poor ass nieghborhood where you're living with the "thugs" because they can afford it there. If they can afford a condo then they could afford a home whereever B buys one because they'll both have around the same finnacial status.

buying a condo is about as worthless as buying a trailer home or renting furniture...
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Idiotic.

Thats why $125,000 condos are now $250,000 in my area right?
 
Brian being there with cars will devalue the neighborhood :)

Real Estate is a great way to make money, if you're smart. But you can't walk into it for pennies.

The Ebay idea is a great idea to make side money - within a few months you could make it really big . And that is what life is - making money little by little and smartening up to your expenses. IF you do just this, consider it:

Check out the Ebay markets to see what's going really well. Maybe Fieros are making a splash, and going for big bucks. Keep your eye out for some old people (Int4rn3tl3ss) with one sitting on the side of their house. Put it up for sale, get $1000 (or more) and pay a bill. Don't believe me? Check out the cost of first generation Ford Broncos online now.

Or, don't do cars. Do antiques. buttons and pins. Silverware. Cookware. Dishes and cups. These things are all over the place ! Get educated on artwork and go tagsaling with a purpose.... A certain kid we know makes his rather comfortable living off of this !

As you do it, you'll get more and more in tune with what people want, and when they will want it. For instance, I picked up a Burger King ashtray at a tag sale for free (It had a 5 cent sticker on it, I said "Oh come on" and they just gave it to me) .... $65 to a collector, and it fit in an envelope.

Do this with engines too... I found that engines for Toyota Trucks were getting a ton of money, so I assembled one, in my spare time while watching TV and I now have an $1800 engine ready to go for $140 investment.

Apply yourself, be driven by a goal and do something.

Also, stocks are a great way to get money... My gf does this and just randomly recieves multi-hundred dollar checks several times a month. To do that, however, requires putting $15,000 or more into an account with a firm and letting them do the work, for a percentage fee. But that $15,000 is still there, and still owned by her. (There is no federal protection on it)

Coins surprise the shit out me, that's a collector market I wish I knew. Damn, these people can spot a collector piece from 20 feet away .

-> Steve
 
Also, what Condos offer over houses is the ability to rent them out. You can't rent a house out, because no family in the world is going to pay you rental margins of $2400 a month rents. But you CAN rent out a condo for $1200 easily.

-> S
 
fact is condos are cheaply built by developers to turn a profit...

the developer and contractor doesn;t necessarially care what happens 15 years down the road, or how well the product is holding up...

anyone into cars and working on them will never own a condo...
i want space, a huge garage, and my own place to work on my shit without my neighbors complaining about my compressor running at 2 am...

You also have the benefit of someone doing your landscaping for you and basically everything else you need.
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again, i know how to mow grass, fix plumbing, heating and electric...
i'll save that assoc and maint fee and put it in my own pocket...

no matter how nice the condo, certain types can still afford to RENT a condo from someone else who owns it...

and what happens when you want red draps instead of blue, or brown trim instead of green? oops, sorry, you got a condo, gotta follow the assoc rules...

if you've seriously looked into buying a house and thought a condo was right for you, then congrats... but for the people that still live with mommy and daddy ( no offense B) and aren;t looking to buy their own home anytime soon, i think they should shut their mouf...

Thats why $125,000 condos are now $250,000 in my area right?
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now lets compare that to what a 125K house is selling for in your area now...?

given a long enough time line the cheap construction materials and quality will show their true colors...
 
Recked,

You seriously have to get your head screwed on tight.


...simply because I'm not "IN" the market to look for a house does not mean that I don't know what the market looks like.



If Brian wants to be buying a house, which he really can't afford, or will be scraping by he's not going to have the money to have extra cars and be working on them.

Right now, what he needs to do is save, save, save and then buy when he can truly afford.


If you disagree with that, then you have zero idea whats going on out there. With what he's posted, I don't even think there's a way he can afford a $250,000 house plus expenses. The only way may be with an extra $500-600 a month coming from a roomate but he can't truly count on that.
 
owning a business is a big money venture, with very high risk.

if he made it the first 5 years and got established then he would be golden.

you also have to think about what hed be selling. damn near everything you can buy cheaper on ebay then any shop anywhere. ebay is seriously hurting new small time business owners.

if he was to provide some kind of service then that would work. hell buy a dyno and charge 150 an hour to dyno tune ;)
 
All the answers I got for ya.

Check it out, get the book and you'll be set. My old man got the book, and now he's looking into buying another house, and then some. I'm also into this whole deal as well, not just saving, but buying bonds like candy.
 
bonds? lol bonds had their hay-day in the 80's. once the EE-series was over, the rates went to shit. they aren't worth it any more
 
My plan, if anyone is interested is to purchase a condo next year while banking whatever money I dont spend. Im not going to let the quality of life go down the drain while I stress over a morgage I must pay for a house to be empty. I plan on purchasing a home when Im ready to have something to put in it... a FAMILY.

As far as working on cars, well... you cant do much if you are in a condo but I still have parents and theres an 80 gallon compressor there whenever I need it. Also... I dont plan on doing motorswaps and foolishly blowing money on building motors later on in life.
 
Just today on TV I heard that someone did the math on Bill Gates and figured out he makes $150 a second.

poor guy....
 
Originally posted by New2TheCarScene@Jul 13 2005, 02:59 PM


Here's an idea for you Brian. You want "quick" money? An added source of income?


Buy web servers and start charging people for hosting space. You have your design in these computer languages and are from what I can tell a self proclaimed kick ass web designer...start a web designing business.

Build quality websites for a couple hundred depending on the customer's requirements, anywhere from $200-$1000. Get your name out there. Get business cards. Get references. Advertise online. Advertise locally. Build a couple demo sites for free or a reduced cost and then use those sites as references.

Be creative.
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I think this is whole heartedly one of the only applicable schemes thats been suggested here.

I didn't mean to get anything out of hand.
 
Originally posted by micah@Jul 13 2005, 04:33 PM

if he was to provide some kind of service then that would work. hell buy a dyno and charge 150 an hour to dyno tune ;)
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Ding ding ding.


If he learns the trade and has people to invest with him, this can be done so long as theres a demand in the area.
 
Originally posted by jeffie7@Jul 13 2005, 09:54 PM
Just today on TV I heard that someone did the math on Bill Gates and figured out he makes $150 a second.

poor guy....
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The classic tale of,

"If Bill Gate walks down the street and bends over to pick up a $100 bill on the ground, he just lost money..."


Its absurd thats its true in theory that if the man stopped "working" for a second to pick up free money that he'd be losing money. In actuality he's going to make his $100-150 a second anyway and he's picking up a $100 spot for free. Double whammy.


*Edit - a need a :worthy: for the boy genius Bill Gates. Hate him or love him, he changed the world. Plus I think he's a worthy man because even though he makes far more money than anyone else, he also donates quite a bit of money to charity. Upstanding guy if you ask me.
 
Just remember, everyone wants something for free.

I never thought I'd see B holding out his hand.
 
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