Chat - The Official Las Vegas/Southern Nevada Chat Thread - Page 1206 - JeepForum.com
Search  
Sign Up   Today's Posts
User: Pass: Remember?
Advertise Here
Jeep Home Jeep Forum Jeep Classifieds Jeep Registry JeepSpace Jeep Reviews Jeep Gallery Jeep Clubs Jeep Groups Jeep Videos Jeep Events Jeep Articles
Go Back JeepForum.com > Four Wheeling Forums > Wheelin' Neighborhood > South West USA > Nevada Jeep Forum > Chat - The Official Las Vegas/Southern Nevada Chat Thread

Jeep Grand Cherokee Mirror - Side ViewJeep Grand Cherokee Headlight AssembliesThe Retrofit Source / JW Speaker LED Headlight GROUP BUY!

Reply
Unread 11-20-2012, 02:39 PM   #18076
MMCKEIG
Registered User
1999 TJ Wrangler 
 
Join Date: Sep 2011
Location: Las Vegas, NV
Posts: 1,180
Quote:
Originally Posted by sirhk100 View Post
Yeah, screw this conversation, lets make fun of Power!
Agreed. Far more entertaining.

MMCKEIG is offline   Reply With Quote
Unread 11-20-2012, 02:40 PM   #18077
gregaf3
Registered User
2013 JK Wrangler 
 
Join Date: May 2011
Location: Germany
Posts: 3,612
I think rental properties are a good thing. They hit investing from two different sides. One one side they increase your cash flow and they invest in your assets. I will use my current house as an example.

I was lucky enough to buy within the last 2 years, so I have pretty much bought at the bottom of the market (Just luck). I can rent my house for about 500 a month over what my mortgage is a month. So after paying a management company I can still pocket a few hundred extra a month. While that is not much, think of it as a added bonus of a long term plan. From here I have 2 choices as time goes on, I can A. let my current mortgage get paid down over the years and have an asset (the house) while still having a source of income (rent). So basically by the time that I am in my 60's I could have the mortgage fully paid off with rent money coming in every month. But it will all be income by then because I will not have a mortgage. While yes I will have to invest money in the property over the years to update, fix, and repair things, it will not be anything compared to the revenue that it is generating .

The other option is to rent it out and as the house appreciates and the mortgage gets paid down, I could refinance or take out a second mortgage. Now this is the good part, because I can now take that money to invest in a new property, thus increasing my cash flow while still carrying debt.

The key is to not have debt on a depreciating asset unless you really need it...
__________________
Professional Slacker
gregaf3 is offline   Reply With Quote
Unread 11-20-2012, 02:41 PM   #18078
dmgiff
Registered User
1997 TJ Wrangler 
 
Join Date: May 2009
Location: las vegas
Posts: 931
Dave Ramsey. KXNT 100.5 FM between 6pm and 9pm.
dmgiff is offline   Reply With Quote
Unread 11-20-2012, 02:45 PM   #18079
gregaf3
Registered User
2013 JK Wrangler 
 
Join Date: May 2011
Location: Germany
Posts: 3,612
Quote:
Originally Posted by dmgiff View Post
Dave Ramsey. KXNT 100.5 FM between 6pm and 9pm.
You should only be listening to one radio between those hours... and it is not the FM radio buddy!!

haha
__________________
Professional Slacker
gregaf3 is offline   Reply With Quote
Unread 11-20-2012, 02:59 PM   #18080
sirhk100
Registered User
 
Join Date: Jan 2005
Location: Las Vegas
Posts: 5,241
Is Ramsey the one that pushes the "never buy a new car and everyone should own an old beater"? I listened to some money dude a few months ago that was preaching that and laughed cause it's totally me. I just downsized from having 4 rides in the driveway at one point. Here come late spring I'm hoping to have my 2 current ones finally built, done and 100% happy with them in all ways except one... The MPG options will be like 18, or 18 depending which one I want to drive! I'm sure by early next summer I'll be back to 3 cars in the driveway all paid in full like I said but the 3rd car will probably be an under $3000 honda civic getting 30mpg again! LOL

I keep telling myself 2014 is the year I'm going to HEAVILY invest. I've got a few projects I want to knock out in 2013 and want the cash on hand for just in case crap instead. After that I'll probably dump 75% of my savings into investing of some sort. I got time to try to figure out what's what... Maybe I'll go buy a roach invested 4 plex and rent it out for twice the payments to some pimps and hos!
__________________
Khris

http://www.facebook.com/pages/TPF-Racing/255393361194429
sirhk100 is offline   Reply With Quote
Unread 11-20-2012, 03:00 PM   #18081
ksturgio
Registered User
1997 ZJ 
 
Join Date: Jun 2008
Location: Las Vegas
Posts: 2,810
I've never had a credit card and built my rating through small bank loans. I am paying for school out of my own pocket with no loans. I've had a mutual fund that I've been putting $300 a month into since that time. What sucks is watching your money go from $35000 in 2005 to $10k in 09.
My wife on the other hand has $90k in student loans. $8k in credit cards. Her car is paid for but when they start wanting $800 a month for her loan it's going to sick if she isn't working.
I tried the slum lord thing and it wasn't for me. Mostly because I bought a crappy property that I could only rent to crappy people. I have been thinking about buying either a duplex or condos and give that a try. I've got a buddy whose mortgage on a condo is $500 a month and is renting it for $900.
ksturgio is offline   Reply With Quote
Unread 11-20-2012, 03:14 PM   #18082
gregaf3
Registered User
2013 JK Wrangler 
 
Join Date: May 2011
Location: Germany
Posts: 3,612
the key with investing for the most part is to just put money in every month and dont look at it. If you keep on putting in while the market is low, then you will get crazy return on that money and it should offset the losses on the other money. It makes me laugh when people see the market drop and they stop investing. That is the best time to invest. But the key is to diversify your money, you do not want it all in one place. If you have your money spread out, it is less likely to take a hit from a single occurrence. For example right now we have I bonds, roth IRA (Spread out), mutual funds (spread out), 401k(Spread out), TSP (tax deferred for government employees), and my wife's 50% retirement here in 5.5 years.

I know that we will never be rich, and it would be nice, but we look at things realistically. Once of my key points has been to try to retire without having any dependency on Social Security, because we do not believe that it will be there when we go to retire.


The main thing to do is to not go overboard. You do not want to not enjoy your life because you are saving... only to die young.
__________________
Professional Slacker
gregaf3 is offline   Reply With Quote
Unread 11-20-2012, 03:15 PM   #18083
sirhk100
Registered User
 
Join Date: Jan 2005
Location: Las Vegas
Posts: 5,241
Quote:
Originally Posted by ksturgio View Post
What sucks is watching your money go from $35000 in 2005 to $10k in 09.

Yeah, that right there is a bit of why I have to wonder am I possibly ahead having just not invested really till just the last couple years into a 401K program? Chances are probably not, in the long term you're probably still better off then me I would guess.




And I'm somewhat kidding about the slumlord, I've been pretty lucky with the tenants in my place. They fell behind at one point but got caught back up over a few months and have been good since. Other then the small farm at the house I can't complain and even that's not too bad. I'm kinda jealous I didn't have a goat powered lawn mower when I lived there honestly...
__________________
Khris

http://www.facebook.com/pages/TPF-Racing/255393361194429
sirhk100 is offline   Reply With Quote
Unread 11-20-2012, 03:22 PM   #18084
gregaf3
Registered User
2013 JK Wrangler 
 
Join Date: May 2011
Location: Germany
Posts: 3,612
for a 401k put in at least what the company will match too, otherwise you are just loosing free money. Most places will do 50% up to 6% of your income. From what I have noticed in the past, that 6% shows up as a trivial amount on your actual pay check. That is the quickest way to get a 3% raise from your boss.
__________________
Professional Slacker
gregaf3 is offline   Reply With Quote
Unread 11-20-2012, 03:28 PM   #18085
sirhk100
Registered User
 
Join Date: Jan 2005
Location: Las Vegas
Posts: 5,241
Already on that, we're 50% matched to the first 4% which is what I'm putting in and I'm thinking about bumping it up to like 10% in...


Actually it's funny talking about company perks. Rather then investing in the typical fashion in 2014 I'm half ways tempted to build a '65 mustang to flip. My employee pricing for parts is so cheap that it's staggering. Like I physically hold a part in my hand at my purchase price and most of the time feel the steel to make the part has to have more value then what I paid type of cheap! I'd do a full restoration and drive it till it sells for profit. I'm talking a very nice show quality car for probably less then $15K which would easily sell for more then that. An employee just recently put $18K into it and sold for $42K in less then 3 months on the market... Said he had 8 months into the build and I doubt he was working at a pace like I typically do knowing him. LOL I doubt he had a weekend with 25 hours in the garage like what I just came off for instance...
__________________
Khris

http://www.facebook.com/pages/TPF-Racing/255393361194429
sirhk100 is offline   Reply With Quote
Unread 11-20-2012, 03:42 PM   #18086
gregaf3
Registered User
2013 JK Wrangler 
 
Join Date: May 2011
Location: Germany
Posts: 3,612
I keep on watching gas monkey garage and wondering when he is going to turn a real profit.

Yesterday in my tourist stuff we went to the Shelby museum. I though it was crazy that they had the original Shelby and Carroll turned down an offer for $23 million for it back in the 80's. The guy said that they have estimated that it would go for over $50 million at auction right now. Its it just crazy what some collectors will pay for stuff.
__________________
Professional Slacker
gregaf3 is offline   Reply With Quote
Unread 11-20-2012, 03:50 PM   #18087
dmgiff
Registered User
1997 TJ Wrangler 
 
Join Date: May 2009
Location: las vegas
Posts: 931
Quote:
Originally Posted by gregaf3 View Post
You should only be listening to one radio between those hours... and it is not the FM radio buddy!!

haha
I have Mondays off... I listen while I burn metal and make sparks in my garage.
dmgiff is offline   Reply With Quote
Unread 11-20-2012, 04:59 PM   #18088
B0nez
Registered User
2005 LJ Wrangler 
 
Join Date: Jul 2011
Location: Las Vegas, NV
Posts: 1,953
Quote:
Originally Posted by Dr. Marneaus
Yo, Khris, sorry I didnt text you, i got in a huge fight with the woman right when i got home last night
Who won?
B0nez is offline   Reply With Quote
Unread 11-20-2012, 05:35 PM   #18089
gregaf3
Registered User
2013 JK Wrangler 
 
Join Date: May 2011
Location: Germany
Posts: 3,612
that is some crazy stuff there http://www.mynews3.com/content/news/....cspx?rss=3269
__________________
Professional Slacker
gregaf3 is offline   Reply With Quote
Unread 11-20-2012, 05:56 PM   #18090
Powrjunkey
Registered User
2006 TJ Wrangler 
 
Join Date: Feb 2011
Location: Las vegas, Nevada
Posts: 4,458
Quote:
Originally Posted by gregaf3
That's why you never fully trust jack stands. Always leave the jack under it also!
__________________
The difference between stupidity and ignorance. Ignorance is doing something wrong and not knowing better. Stupidity is knowing better, but doing it anyway. Don't be stupid!
Powrjunkey is offline   Reply With Quote




Jeep, Wrangler, Cherokee, Grand Cherokee, and other models are copyrighted and trademarked to Jeep/Chrysler Corporation. JeepForum.com is not in any way associated with Jeep or the Chrysler Corp.