oldschoolsdime92 Posted August 26, 2014 Author Report Share Posted August 26, 2014 Buy some more property to rent out. Rental income seems to have pretty good returns.This always seems like a great idea until I hear of people having nightmare situations with tenants Quote Link to comment Share on other sites More sharing options...
claine650 Posted August 26, 2014 Report Share Posted August 26, 2014 Well, my step dad basically had this real life situation. Now he's got a large safe over flowing with guns. There's at least 40K of worth in there. Good investment? I'm not so sure. He's only shot maybe 5 of them. There's got to be like 30-35 different fire arms in that thing. If zombies rise up, I'm heading to his place. That's when the investment pays off lol. Quote Link to comment Share on other sites More sharing options...
dustinsn3485 Posted August 26, 2014 Report Share Posted August 26, 2014 This always seems like a great idea until I hear of people having nightmare situations with tenantsHah yeah. I've had good luck so far. I hope it stays that way! Screening and background checks, and getting to know the potential renter seems to really go a long way. I think it's easy to be selective right now because there are so many people that are renting. Quote Link to comment Share on other sites More sharing options...
Tpoppa Posted August 26, 2014 Report Share Posted August 26, 2014 Since this is about investing...paying of a house isn't a "no brainer" good decsion. From an ROI point of view, you will usually lose money long term by paying off a house early (unless you have a really high interest rate). It's nice peace of mind to not have to worry about making a morgate payment, but isn't always great financial decision. Quote Link to comment Share on other sites More sharing options...
madcat6183 Posted August 26, 2014 Report Share Posted August 26, 2014 (edited) Give it to my guy and be done with it. I don't handle anything and just got my mid year, making 28% this year so far, and that's just on my life insurance policy. I don't even ask for qtly statements on my IRA's, just look at the end of the year. I consider him winning at life for me. and for the record I wouldn't pay anything on our house, it's our biggest tax deduction and we plan to be there for a long time. Plus our rate is so much lower than any ROI I am getting on anything and our car loans are either 0% or equal to our mortgage rate so ROI on any investment we have makes much more sense. Edited August 26, 2014 by madcat6183 Quote Link to comment Share on other sites More sharing options...
redkow97 Posted August 26, 2014 Report Share Posted August 26, 2014 I'm not sure "investing" in firearms is the proper term. If you buy ammo in bulk and flip it quickly for profit, that's not the dumbest idea I've ever heard though. I knew of some retired police officers who would drive to Texas, buy a pallet of ammo, then come back home and sell it box-by-box on Armslist at a small markup. They made enough to cover their expenses and still turn enough of a profit to keep them happy. I guess it would depend on how quickly you turn them around, but even a 10% profit (after expenses) would be a decent ROI, assuming it's not too time-consuming to package and ship things. Quote Link to comment Share on other sites More sharing options...
Tpoppa Posted August 26, 2014 Report Share Posted August 26, 2014 Custom choppers must be good investments. The for sale adds say 25k or 30k invested 1 Quote Link to comment Share on other sites More sharing options...
oldschoolsdime92 Posted August 30, 2014 Author Report Share Posted August 30, 2014 no mortgage payment sounds amazing.. Quote Link to comment Share on other sites More sharing options...
baptizo Posted August 30, 2014 Report Share Posted August 30, 2014 Land. 1 Quote Link to comment Share on other sites More sharing options...
c7fx Posted August 30, 2014 Report Share Posted August 30, 2014 some say pay off the house, for me my mortgage is 3.2% I can do better investing and use the interests and dividends to pay the rent without touching the principal.Most likely I would invest in growth, growth and income and a little tax free income investments. As they say wall street is having a sale and no one is shopping. Funny how people will hunt around for a deal in the stores but rather pay full to over inflated prices with investments. Quote Link to comment Share on other sites More sharing options...
RCBS Posted August 30, 2014 Report Share Posted August 30, 2014 Roulette table. Not out anything I didn't have and bawse-sauce if I win. Quote Link to comment Share on other sites More sharing options...
Gump Posted August 30, 2014 Report Share Posted August 30, 2014 Second thought would be land in Alaska in an undeveloped burrow on a lake or river. No property taxes. And hold for ten years. Quote Link to comment Share on other sites More sharing options...
redkow97 Posted September 1, 2014 Report Share Posted September 1, 2014 Second thought would be land in Alaska in an undeveloped burrow on a lake or river. No property taxes. And hold for ten years. Alaska actually has so many natural resources that citizens receive payment from the gov't in the form of tax credits. Quote Link to comment Share on other sites More sharing options...
speedytriple Posted September 1, 2014 Report Share Posted September 1, 2014 Remenber 10 years ago when land was under $1000/acre. It is now $2000-$3000 a acre. Solid investment that can be used and enjoyed. Quote Link to comment Share on other sites More sharing options...
MidgetTodd Posted September 1, 2014 Report Share Posted September 1, 2014 Class 3 transferable guns never loose value Quote Link to comment Share on other sites More sharing options...
max power Posted September 1, 2014 Report Share Posted September 1, 2014 Remenber 10 years ago when land was under $1000/acre. It is now $2000-$3000 a acre. Solid investment that can be used and enjoyed.If I could buy land for $3000/ac where I live I would snatch it up. It's not even close to that here. More like $15k/ac Quote Link to comment Share on other sites More sharing options...
speedytriple Posted September 2, 2014 Report Share Posted September 2, 2014 Im talking rural land. Hell by me its 40k a half acre lot in the suburbs Quote Link to comment Share on other sites More sharing options...
turnone Posted September 2, 2014 Report Share Posted September 2, 2014 (edited) Remenber 10 years ago when land was under $1000/acre. It is now $2000-$3000 a acre. Solid investment that can be used and enjoyed.Maybe, keep in mind you have to pay property taxes every year which can be substantial. Asset is hard to turn into cash and normally pay 6-8% at time of sale for commission then pay tax on the money made of not immediately reinvested. Also, liability insurance on the property top tote to yourself. I used to think land was an awesome investment. I don't feel that way anymore. Edited September 2, 2014 by turnone Quote Link to comment Share on other sites More sharing options...
speedytriple Posted September 2, 2014 Report Share Posted September 2, 2014 I look at paper money or electronic investments as just that, not worth what they are made of. I will put my money into tangable items thank you. But to each their own. Quote Link to comment Share on other sites More sharing options...
baptizo Posted September 2, 2014 Report Share Posted September 2, 2014 I still think land is a wise investment and not necessarily here in Ohio. Go west, young man.... Quote Link to comment Share on other sites More sharing options...
c7fx Posted September 3, 2014 Report Share Posted September 3, 2014 Land is fine but have to think about taxes and upkeep $$$$ Quote Link to comment Share on other sites More sharing options...
baptizo Posted September 3, 2014 Report Share Posted September 3, 2014 Land is fine but have to think about taxes and upkeep $$$$ Where I'm looking at cheap land that might one day be bought up by a developer - Colorado, Nevada, NM, Arizona, etc., - none your concerns are valid. Quote Link to comment Share on other sites More sharing options...
turnone Posted September 4, 2014 Report Share Posted September 4, 2014 Where I'm looking at cheap land that might one day be bought up by a developer - Colorado, Nevada, NM, Arizona, etc., - none your concerns are valid.They don't tax raw land annually? Or just so low it won't affect you? What happens if someone gets hurt on your property? Quote Link to comment Share on other sites More sharing options...
speedytriple Posted September 4, 2014 Report Share Posted September 4, 2014 (edited) I am looking at land within two hours of me to invest in and use for a recreational property. Maybe built my retirement house there. Edited September 4, 2014 by speedytriple Quote Link to comment Share on other sites More sharing options...
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