what's the smartest decision you've ever made
Joined: Jan 2005
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Picking up and leaving my hometown and driving across the country nearly 10 years ago. The experiences over those several months helped shaped who I am. It was scary as hell to drive away from everything that was safe and secure for me, but I needed to do it. 
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Joined: Oct 2000
Posts: 15,323
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From: Longmont, CO
Deciding on buying the S2000 has had the biggest positive impact on my life because of the people I've met though it.
But I was able to afford it because of the job I decided to accept.
But I was offered the job because of some choices I made during college.
But I went to that college because of some decisions about intended career path.
My intended career path was chosen because of some life-long interests, not really any previous decision.
So, at the bottom of it all, deciding on a CS degree at CMU was the best decision I've ever made.
But I was able to afford it because of the job I decided to accept.
But I was offered the job because of some choices I made during college.
But I went to that college because of some decisions about intended career path.
My intended career path was chosen because of some life-long interests, not really any previous decision.
So, at the bottom of it all, deciding on a CS degree at CMU was the best decision I've ever made.
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Originally Posted by BPUKiller,Apr 18 2006, 07:50 AM
For people who think appreciation is the only way to make money. There are very basic rules that if you follow, you can not lose. Now I have four properties, three residential and one commercial that actually cash flow. I'm looking for more every day. It's a long learning process, but I think I can make money even in a down market. Also remember, no matter how many cycles we have been through, after every down market there has been a huge up market, plus it's not like they are making more land. I see it this way. If you buy a stock and the company goes bust, all you have is a piece of paper. If you buy real estate, and the market goes bust, you still have a piece of property. Add all the tax advantages and write offs there is no comparison. Also think about this. Go into a bank and ask them to give you a million dollar loan so you can go out and buy stocks, they will laugh you out of the door, ask them the same about a property and if you have the right credit, will give it to you no problem. They must know something. It takes a huge mindset change to invest in real estate. I use to think stocks and mutual funds were the way to go. In the late 90's I made good money in the market, but that all went bust. Now days I give very little to my financial advisor. As bright as he is, he accepts his company line and keep repeating to me that stocks have done 13% average and real estate has done 7-8% historically. Then I ask him "how much stock can I buy for $10K?"
Sam
Sam
i know with stocks, all you get is a certificate (well, not even that these days) of ownership worth .000000001%. However, when you lose all your money in stocks, that is all you lose (only what you put in). you dont F up your credit, you dont get your car repossesed. The house on the otherhand, if you foreclose. you are in a world of hurt, especially with the new bankruptcy laws.
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Joined: Jun 2003
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From: New York
Gonna get flamed by some people....but, taking college less seriously (priority #2, graduating with a C average) and putting my career first, paid off bigtime. At the time everyone was yelling at me, that I didnt know what I was doing, but it paid off.
Joined: Oct 2000
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From: Nashville
Originally Posted by khuezee,Apr 18 2006, 11:44 AM
i dont think many properties out there can give you a positive cash flow.
I am buying a 1975 3 bedroom townhouse for $45k. it is fairly modern since it was build in the 70's.... I will rent it for $725.
Rental income $8700
Less:
vacancy (5%) - 435
Utilities - 840 (70/mo)
prop taxes- 1400
Insurance - $300
Repairs ~ $1000
Total expenses $3,975
Net income $4,425
Cap Rate 9.8%
not bad...if it goes up in value then I make out even better...
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Joined: May 2004
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From: behind you... BOO!
AT the age of 21, bouhgt a house the second i could (instead of buying a crappy car) then spent all the money I made on paying off the loan. When I sold the house, it was worth almost double of what I paid for it and if I hadn't bought a car (a not so crappy 350z 
), my loan for it would have been all paid up.
), my loan for it would have been all paid up.