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The Finances and Debt Thread

Do Not Sell My Personal Information
David. said:
In years and they won't be cheap
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It depends on what you consider cheap. A self driving Tesla Model 3 will cost 43k with 210 miles of range when they ship and the self driving feature is complete. 35k for the car, 8k for the software add ons.

My current car (Not a Tesla, made a mistake), almost self drives (level 2 automation). It completely self drives in traffic jams, self drives most of the time on highways. On highways you have to touch a button every 30-60 seconds to let it know you're paying attention (which defeats the purpose of getting your time back).

Tesla is supposed to hit level 3 in the next update. Level 3 means for some driving modes (like the interstate, the car, not the human, monitors the environment). Level 4 would let someone do most of their commute without monitoring the road. Level 5 wouldn't require a licensed driver in the car at all.
 
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KI4MVP said:
It depends on what you consider cheap. A self driving Tesla Model 3 will cost 43k with 210 miles of range when they ship and the self driving feature is complete. 35k for the car, 8k for the software add ons.

My current car (Not a Tesla, made a mistake), almost self drives (level 2 automation). It completely self drives in traffic jams, self drives most of the time on highways. On highways you have to touch a button every 30-60 seconds to let it know you're paying attention (which defeats the purpose of getting your time back).

Tesla is supposed to hit level 3 in the next update. Level 3 means for some driving modes (like the interstate, the car, not the human, monitors the environment). Level 4 would let someone do most of their commute without monitoring the road. Level 5 wouldn't require a licensed driver in the car at all.
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In any event I get car sick if I do anything besides drive in the car so no go for me
 
bcort said:
OK I couldn't find anything after searching and rereading through this thread...

I know there was a thread talking about saving plans for children and all the differences/benefits. Maybe it was in a political thread?

Anyone remember this thread? @The Oi @Lee
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I remember contributing but cant tell you the thread name.
 
Jig, it's cheaper to build than buy and vice versa depending on where you're at in the cycle. If supply is low and demand is high, build. I think I got that right .
 
Just like you shouldn't watch Jaws before swimming in the ocean, you don't watch The Big Short as you're buying a house.
 
Hurl Bruce said:
Just like you shouldn't watch Jaws before swimming in the ocean, you don't watch The Big Short as you're buying a house.
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Meh. 2008 will never happen again, but don't buy a home as an investment and don't buy a home you can't afford and you're good. I'm looking to buy within the next year and am selfishly hoping the next downturn comes around then so I can score a deal.
 
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Pick6 said:
Meh. 2008 will never happen again, but don't buy a home as an investment and don't buy a home you can't afford and you're good. I'm looking to buy within the next year and am selfishly hoping the next downturn comes around then so I can score a deal.
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What's wrong with buying a home as an investment? Isn't that what most people view their home as?

I'm doing it a bit different in that I bought way below my means and plan to pay it off in 8-10 years, use it as a rental property, and have new down payment for my next place saved up by then, but what changed the mindset of homes being a quality investment in the buy and sell down the line sense?
 
Cassity14 said:
What's wrong with buying a home as an investment? Isn't that what most people view their home as?

I'm doing it a bit different in that I bought way below my means and plan to pay it off in 8-10 years, use it as a rental property, and have new down payment for my next place saved up by then, but what changed the mindset of homes being a quality investment in the buy and sell down the line sense?
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Home values tend to fall below inflation. Your annual upkeep is usually 2-4% of the purchase. There's a lot of sunken costs people forget to include like remodels etc. You don't gain positive equity until around year 7, which is when the average homeowner sells.

Http://www.moneyunder30.com/why-your-house-is-not-an-investment
 
Cassity14 said:
What's wrong with buying a home as an investment? Isn't that what most people view their home as?

I'm doing it a bit different in that I bought way below my means and plan to pay it off in 8-10 years, use it as a rental property, and have new down payment for my next place saved up by then, but what changed the mindset of homes being a quality investment in the buy and sell down the line sense?
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You may have misinterpreted my post. I didn't say you shouldn't buy homes as an investment. I'm saying don't buy one for that sole purpose if you're that worried about another 2008 and losing your ass. Buying below your means and not having plans to profit off your home and another 2008 doesn't mean anything. Who cares if the value drops, you can afford the mortgage, and you don't have plans to sell?

I will not view my main residence as an investment. I don't plan to make money on it, I just hope I can get out of it what I bought it for (inflation adjusted) and am able to sell it quickly if the time comes. Anything else is gravy. Extra money would likely be better off in stock market
 
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David. said:
Really depends on what you can rent it for
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If you pay it off, great. Otherwise, you're really banking on finding a place that you can rent for a profit. You have to be able to factor in taxes, upkeep, and covering the mortgage and you're not always finding that. Plus if you have gaps with no tenents that's costing you money.
 
FiveThous said:
If you pay it off, great. Otherwise, you're really banking on finding a place that you can rent for a profit. You have to be able to factor in taxes, upkeep, and covering the mortgage and you're not always finding that. Plus if you have gaps with no tenents that's costing you money.
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I've been studying up on rental properties for awhile and my dad has a couple

All of these things are taken into account, plus capital expenditure account, property management etc

They exist, much moreso in some markets than others. Rent to own ratio is absolutely sick in some areas. My dad just bought a foreclosure for 25k in Oregon, will put in 50, and rent it for 1800 a month.
 
Buying foreclosures requires connections or a lot of monitor time..

I think it's a good time to own property. And rent it if you do due diligence on renters.. but there are scary renters out there that can and will ruin you..

Key to real estate is the buy low part. If y po u can handle the long term, the risk is minimal...
 
So, if it isn't obvious by this point, I enjoy talking about finance. It's been tugging on me lately to go into that field in some capacity, so I have finally applied for a branch manager position with Chase. I have my first interview on Tuesday. This would be a great opportunity to get into a field that can offer me more than being a store manager can.
 
I'm starting to make and save good money. What do I do with it?

@natedagg
 
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