Makaveli

Hmmm, so I hear that lots of people get ~$40K and put it down as mortgage on an apartment and then have to pay around 500$ per month afterwards to pay it off in 6-10 years..... so they get people to move in and they pay them rent, and plus they make some money on top of paying it off.....

I know this is true, but are the numbers really like that so that you could pay for 1/3 of the apartment/condo or whatever, and make money off the rent that you're getting for it (assuming it's an average rent) while paying it off (in 6-10 years).

Anybody doing this?

I also have a friend that buys cars and fixes them up a little and then resells them higher. Worked on three cars so far.... he's only got one bike that he can't sell, and I don't think that he ever could haha

onehawaiian

the rent thing is better than reselling cars. people need a place to stay, but they don't have to drive, and there's always the "bus".

yeah, the only problem is getting the upfront money for the down payment on the house. here in hawaii tho, rent is pretty nuts. i was staying in a pretty big house which was split into 4 sections: 2 studios and the main house was divided in two separate parts. i was paying $700/mo for my studio. my neighbors were paying $1200 + utils. the landlords/owners didn't even live there. in fact, they lived in california (at least that's where my rent checks were sent). hmmmm, i think they made their money back and then some!

Makaveli

Yeah, rent is pretty crazy here in Vancouver..... if you know where to look you can find beautifull places for very cheap, but so many people get screwed and end up paying 950$ for 1 bedrooms.....

Anybody into stocks here? I ended up doing pretty bad with Laidlaw before (they went bankrupt, and now are back at like 10 cents..... bought them at 35 cents hehe)

onehawaiian

well, word on the street is... *waits for everyone's attention*
krispy kreme donuts is a solid investment. i think nearly 100% make their money back in a year. but they are like $45/share? dunno 'bout the price.

funkdaddysmack

Here's something to think about. One of my roomates teachers told him this scenario:

When you're twenty, if you could invest $2000 a year for 10 years, and then stop when you're thirty.... By the time you're at retirement age, it will be over $300,000 (with an initial investment of $20,000). I don't know much about the money market at all (being only 19), but as soon as I graduate in May, and get a fulltime job, I'm starting. I don't think $2k will be out of the picture for me, I'll just have to neglect some other things.

I'm assuming that the investments were some sort of mutual funds or something pretty stable.

onehawaiian

yeah, that sounds like a very good utopian scenario. but think about it, with the cost of living rising each and everyday, do you think $300k will buy you a tank of gas 10yrs from now?

some shady investments/money makers to look into:
-blackmarket pharmaceuticals (crack, blunt, xtc...)
-genital engineering (easy $200/hr)
-random repossesion (hondas keep this market open)
the return on these "businesses" are nicredible, altho it is usually associated with jail-time...

Makaveli

so nobody that's ever done this? Should I go to the Jaguar or Ferrari board and ask there instead?

onehawaiian

my old landlords were making at least $3600/month off us, and their mortgage couldn't have been more than $700/month...

-lamborghini boards buy condos and rent them out.
-ferrari boards buy porches and fix 'em up fore resale.
-honda boards just buy rice.

here in hawaii, land is a premium. ppl build parking lots and charge $10/day. imagine 50 cars a day- that's $500/day, $2500/wk!

JAL1639

Max it out every year for five tears and by the time you retire you will have over a million. You can set it to return about 12% a year. Max it ot every year until you retire and imagine the return.
Oh and when you pull it out at retirement, it is tax free.

Makaveli

But I don't want to be a millionaire when I'm retired.......

When I retire I plan on skydiving a few times, and bungee jumping.....

funkdaddysmack

$10/day is cheap compared to what I've seen in Pittsburgh, Harrisburg, and NYC