Forgive me for asking this but isn't the stamp duty on a $300,000 home aprox $13,000? Agents commission aprox $10,000? If you were to go and buy a new $300,000 home later, another $13,000?
That's a cost to you Jimbob of over $30,000, I hope the car is worth it as were you to transfer the property to yourself and pay out the ex, the stamp duty would be nil, no agents fees etc, etc...
Well worth considering the property as an investment and renting it out IMO. Not that it's any of my business, but I know how hard it is to save over $30,000 let alone earn that much in a year.
BTW ladies, no worries here, just giving my opinion on what I would do if I had a similar position and income to confront as it was advice Jimbob was seeking wasn't it?
if I was a female, I'd be hooking up with Rodplum, those pictures and where he gets to looks like too much fun for just one to enjoy on his own. Should get my own picassa album going, not sure my life is as interesting or in such a picturesque region though
you already own a car outright with ultra low kms IMO, all it needs is a little attention. If you didn't have the money coming, would you still buy a new car? ie: would you borrow money to do so? I don't think so. This is a simple way to work out what should be done with any profits from a settlement. It's your nest egg and should be preserved for your benefit and provide income as an asset. A car is a liability and only produces expences amd costs you income. Learnt that from Robert Kiyosaki
Martia, your support is utter useless like most of your other crap. Jimbob asked for advice, this is the money/car/investment thread it has turned into, not the pat you on the back and everythings alright thread. Some people do want to better their lives and find the magic tricks that others have known about since they could walk. Some people had clueless parents who never got out of their paling fenced backyard to see the grass was greener on the other side. I think the advice offered here has been beneficial to Jimbob and other people who've also read it. Your comments are really not useful in this particular thread at all.
Like in business, you have business plans, our lives need plans too to help us get somewhere we may never have thought possible as we go about our daily lives chores/work/play. And like a business, we need to spend time on our lives rather than just being in our life and letting it steer us. We need to hold the reigns and crack the whip to get to where we really want to be.
Now, how to translate that principle over to relationships?
I know a guy who came out of a controlling relationship, she still owns a home, has holidays every year, always has spare money and is never short. Him on the other hand went out and bought a new car, went on a big holiday and pissed the rest up, lost his job and ended up having the car repossed. Seems the controlling wife knew something he didn't?
cash is the worst investment you can make, who are your advisers as they're not very good at it? I'd be getting a Burley book or Kiyosaki book and studying up on money as it is only a trading tool.
Fix up your AU for $2,000, anymore, just get a sub 100,000km car for under $3,000. You don't maintain the property, your tenants do. As I mentioned before, try Narracan, Warracknabeal, Arrarat etc, large business centres with cash positive income rather than negatively geared stuff. If you feel like paying extra into them along with the rent you collect, more power to you.
You could buy a business that pays more than $40,000 for $80,000. My ex has already wasted her money I paid her, no house, new car etc... Seems the way of the split up, easy come money is easily lost. When you have to earn it, you're wiser and more careful with how you spend it. Read Rich Dad Poor Dad, you need to have investments and make people pay you rather than you paying them all the time. A car is one big liability that just costs you income and depreciates. I know Centrelink classify a car as an asset PMSL The only thing for your money is to invest the lot and work towards an early retirement. You could even buy a home for under $80,000 in Tassie.
Just a gigolo everywhere I go people know the part I'm playing
Paid for every dance selling each romance every night some heart betraying
There will come a day youth will pass away then what will they say about me
When the end comes I know they'll say just a gigolo as life goes on without me
'Cause I aint got nobody nobody nobody cares for me I'm so sad and lonely sad and lonely sad and lonely Won't some sweet mama come and take a chance with me cause I aint so bad
Last time I saw the council dudes, they were down the surf beach catching some waves instead of driving the vehicle around doing whatever they're meant to be doing.
Buying new, you lose $10,000 of value as you drive out of the car yard. Buying a $100,000 home rented somewhere in Aust. will be the best investment you could make right now while the market is down, make a low offer 10% below the asking price, you'll be surprised what the agent will say.
I make sure my car gets its $400 service regularly when the k's are up on the windscreen sticker, learnt the hard way years ago about not doing that. I'm sure the things that need fixing would still make your car valueable to you if not to sell seeing it has low kms.
Are there places available for $100,000 like in Warracknabeal and Narracan? Find a property you can positive gear that's not reliant on you paying the difference to cover the loan. The last thing you want is to waste money on a depreciating car. It's a house buyers market out there and all offers are considered atm as home sales are hard to come by. When the market turns, you'll be able to cash that investment property in for your new car.
Every loan you get reduces the amount you can borrow on a home. This includes your credit card limits etc... My sister was also told having 5 kids cut $175,000 off what they could borrow for a home. I'd be keeping my car if I were you Jimbob until it hits 200,000k's. AU is a good model with the ABS brakes and all.
I just paid out the ex, $285,000 loan on $60k income. I worked out it was cheaper to buy out the ex as you don't have to pay stamp duty when you do it that way. I can't afford to live in the house though so I'll rent it out for $350 week and live in the back of the shop I lease.
I've got 90,000k's on the EL, but I bought it that way. It had been garaged for 10 years, a bargain at $5,000. I should have 130-140k's on it within a year. Another year or 2 and I'll be looking to get my next sub 100,000k's car. I've found you get 2&1/2 years use of a sub 100,000km car as i sell them once they hit 200,000k's.
She musters a smile for his nostalgic tale Never coming near what he wanted to say Only to realize It never really was
She had a place in his life He never made her think twice As he rises to her apology Anybody else would surely know He's watching her go
But what a fool believes ... he sees No wise man has the power to reason away What seems ... to be Is always better than nothing And nothing at all keeps sending him ...
there is one lady in my town who acts, behaves and carries herself like a lady IMO Her dress sense is impecible. Her pronunciation beyond compare. And if i was allowed, i'd date her tomorrow even though she is over 30 years my senior. Ladettes who get pissed, pierced, tattooed and act up just don't do it for me sorry.
daggyone Forum Posts (1,963)
RE: Buying a car ?
Forgive me for asking this butisn't the stamp duty on a $300,000 home aprox $13,000?
Agents commission aprox $10,000?
If you were to go and buy a new $300,000 home later, another $13,000?
That's a cost to you Jimbob of over $30,000, I hope the car is worth it as were you to transfer the property to yourself and pay out the ex, the stamp duty would be nil, no agents fees etc, etc...
Well worth considering the property as an investment and renting it out IMO.
Not that it's any of my business, but I know how hard it is to save over $30,000 let alone earn that much in a year.
BTW ladies, no worries here, just giving my opinion on what I would do if I had a similar position and income to confront as it was advice Jimbob was seeking wasn't it?