$14,311

[Jon325i]

Gotta spend some of it and enjoy it on things like a car. Otherwise, what's the freaking point of having money? Money doesn't buy happiness, but it does buy things that make me happy

Utterly profound logic :!:

A good point made by several: considering what the $14K+ into your car has resulted, I challenge anyone here to find a LATE model, GERMAN built car that's REAR wheel drive and offers the same level of performance and appearance for the same amount of money. You will be hard-pressed to make it happen (oh yeah, salvaged titled cars don't count :P ).

Jon

[danno14]

A little clarification goes..... where ever!

"There is a thing called capital gains. You must own/live in that place for 2 years or all of that "profit" will go away in taxes."

The above is true if you want to sell and cash out the profit. If you want to "roll over" the gain and do it again there is a vehicle called a 1031 exchange that allows you to without paying capital gains. The great thing about it is:

Buy for say, $100k. Fix up and do a 1031 at $120k (net). Roll the gain ($20k less the improvement costs) into another property, say $180k. If you are good/smart at this, you will rapidly have upwards of $100k in equity. Tap this (refi) and pull out the cash TAX FREE! You may use it for whatever you wish. One caveat is to make certain your debt load is serviced by the income the property generates (let someone else pay you rent and build your equity).

Do this with enough properties and you can pull $$$ out every year/two/etc. and legaly have it without a tax liability.

Gotta love this country! :D

Aaron- my best to your mom "kicking ass in real estate". It works for me too....

get her to help you buy property now, while the interest rate is soooo loooow!
D

[NWMF]

you going to buy an outhouse somewhere with that cool 14000

14K buys a nice lot to build on about 3 blocks from the beach in florida panhandle.
14k makes the down payment on 467k home.
anyother questions?
w

$14k for a lot in Florida near the beach? Are you sure?

A $14k down payment on $467k loan would be 3013.82 a month. No DP would be 3106.96 per month.

I am investing now fellas...hardcore. A much better way to spend cash...although I do enjoy my E30.

good for you. but put it into a life insurance policy. tax free in and tax free out and grows around 8%. talk to me ill set you up with one. your Northwestern Mutual advisor. ;)

[Werksmini]

CRACK PARTY

[Skafrog]

for 14k I would have bought a POS 86 325e for 500 bucks not running, thrown in an m50, GC's w/ 5 lug, dropped the weight, spacro seats, G force harnesses, roll cage, under drive pulleys, m3 cams, etc etc and gone racing.

[shahe]

eric, im double what you are into the m3, so dont be bitchin :)

[Digitalwave]

for 14k I would have bought a POS 86 325e for 500 bucks not running, thrown in an m50, GC's w/ 5 lug, dropped the weight, spacro seats, G force harnesses, roll cage, under drive pulleys, m3 cams, etc etc and gone racing.

He has most of that stuff, and also an M-tech II kit and a bunch of other awesome goodies.

[Skafrog]

exactly my point, he did it right :-)