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The toy buying frenzy has me wondering

traquer

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It's very tempting... I see my buds out driving their Porsche's and Z06 Corvettes.. I had my best year yet in business so I'm *this* close to walking into the dealer and ordering an individual M3 new spec-ed the way I want it for $100k OTD. They new M3/M4 for 2021 look so fockin stupid I might need to get in now to order the older model the way I want it.. Talk me out of it pleaseeee

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Looking Glass

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It's very tempting... I see my buds out driving their Porsche's and Z06 Corvettes.. I had my best year yet in business so I'm *this* close to walking into the dealer and ordering an individual M3 new spec-ed the way I want it for $100k OTD. They new M3/M4 for 2021 look so fockin stupid I might need to get in now to order the older model the way I want it.. Talk me out of it pleaseeee

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Buyers Remorse is a Real Deal.🤔
 

Performance Grips

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It's very tempting... I see my buds out driving their Porsche's and Z06 Corvettes.. I had my best year yet in business so I'm *this* close to walking into the dealer and ordering an individual M3 new spec-ed the way I want it for $100k OTD. They new M3/M4 for 2021 look so fockin stupid I might need to get in now to order the older model the way I want it.. Talk me out of it pleaseeee

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Get a porsche. Way better way better resale. You just have to come up with a little more coin but worth it.
 

endobear

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Buddy has a 22' camper that he really only uses during hunting season.. Started renting it out in March and is killing it. Most renting for 10 days at a time. Pretty much booked solid for the summer.
He's almost got me convinced to start renting my toy hauler.
 

traquer

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Get a porsche. Way better way better resale. You just have to come up with a little more coin but worth it.

Thank you. This is very logical and smart advice. However it's not just a little more coin, it's quite a bit more coin if you wanna buy new. I'd be looking at Carerra S for the performance I'm looking for, and if you add in all the goodies you're looking at an easy $150k.

I'll probably get a few years old Porsche, buying new is a stupid decision financially for me right now. But it'd be a lot of fun lol
 

Performance Grips

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Thank you. This is very logical and smart advice. However it's not just a little more coin, it's quite a bit more coin if you wanna buy new. I'd be looking at Carerra S for the performance I'm looking for, and if you add in all the goodies you're looking at an easy $150k.

I'll probably get a few years old Porsche, buying new is a stupid decision financially for me right now. But it'd be a lot of fun lol
I bought a 2 year old turbo s saved about 60k. I think used is the way to go. Especially if you get a certified pre owned. They are pretty awsome cars and I've had a few AMG's.
 

bentprops

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Well good thing your post had that information in there when you said @outboard_256 post was not true. I almost thought you were the resident expert with your comment. His post actually is true for some areas, just not yours...99% of the time.
The only thing I know right now that has stopped evictions was eviction due to lack of payment. All other evictions such as damaged property, lease violations or expired leases that become squatters are still in full effect. Even the eviction for lack of payment in the states where my stuff is located, the tenet has to file for protection to keep from getting evicted. Now is this 100% correct? Where I am yes. The states where I have one tenet not paying the state is covering 3 months. 45 days after that I can evict her for lack of payment. even that protection law expires aug 15. The federal laws "which have expired" the tenet was only protected if the loan is federally backed. Could be more to this but it docent apply to me so I have not discussed with my attorneys. I feel for people that have rental's and small business right now. My opinion this hole thing is to destroy small business and continue shrinking of the middle class. Also im not a expert at anything. Just trying to the best I can like most others.
 
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bentprops

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I personally know of 3 people that have tenants in CA that aren't paying rent and they are trying to evict them but haven't been successful. They aren't happy and the tenants are gone all day meaning they are either working or playing. I am have been lucky as my rental tenants are paying and if they didn't then it would really hurt us. Another reason I am not buying crazy toys now, if I loose my rental income it will have to come out of savings. I did refi and knocked 5 years off the loan and lowered payments by a few hundred. Didn't even think about taking cash out, and I could have easily as I have 400k in equity in the house now.
Look to evict for other reasons such as lease violations damage property ect. expired lease. You can bug the shit out of them with doing maintenance repair work inspections. It blows me away that they pay unemployed more $ than also give them a pass on paying rent. Something more to all this than meets the eye. Id sell that cali house and go buy yourself 10+ rentals in the midwest. they rent for 1% RV ratio (rent to value) 130k house rents for 1300.pm in cali I bet you may get .5 maybe .6 RV? 600K house rented for 3k .PM?
 

Looking Glass

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Look to evict for other reasons such as lease violations damage property ect. expired lease. You can bug the shit out of them with doing maintenance repair work inspections. It blows me away that they pay unemployed more $ than also give them a pass on paying rent. Something more to all this than meets the eye. Id sell that cali house and go buy yourself 10+ rentals in the midwest. they rent for 1% RV ratio (rent to value) 130k house rents for 1300.pm in cali I bet you may get .5 maybe .6 RV? 600K house rented for 3k .PM?


Besides that, Midwest people have "VALUES" much different than out here. People take their word seriously and will do whatever to keep their word, promise and contract. The Nature of folks back there is if something would arise they will contact the Landlord and discuss options to continue VS running and ducking their obligation.
 

bentprops

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Besides that, Midwest people have "VALUES" much different than out here. People take their word seriously and will do whatever to keep their word, promise and contract. The Nature of folks back there is if something would arise they will contact the Landlord and discuss options to continue VS running and ducking their obligation.
This seems to be true! it could also be that in some midwest states will put you in jail if you don't pay your rent within 5 days of the due date. In ca with cps it can take 6 months to get people out. I ant rolling those loaded dice.
 

Looking Glass

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This seems to be true! it could also be that in some midwest states will put you in jail if you don't pay your rent within 5 days of the due date. In ca with cps it can take 6 months to get people out. I ant rolling those loaded dice.


Trust me that has Nothing to do with it. People were raised with Charachter along with other Positive traits missing in many other parts of this Country.
 

bentprops

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Back on topic, ppp, low rates, refinancing and fear of dying "you only live once" is fueling this. I don't blame people for getting out there and buying new stuff. Im good with my 2012 ford. We all have our own lives to live. It all depends what you want. I tell all that listen, just do the opposite of what everyone else is doing and you'll do fine.
Warren Buffett — 'Be Fearful When Others Are Greedy and Greedy When Others Are Fearful'
Baron Rothschild, of the Rothschild banking family, is credited with saying that "the time to buy is when there's blood in the streets.
 

wzuber

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Back on topic, ppp, low rates, refinancing and fear of dying "you only live once" is fueling this. I don't blame people for getting out there and buying new stuff. Im good with my 2012 ford. We all have our own lives to live. It all depends what you want. I tell all that listen, just do the opposite of what everyone else is doing and you'll do fine.
Warren Buffett — 'Be Fearful When Others Are Greedy and Greedy When Others Are Fearful'
Baron Rothschild, of the Rothschild banking family, is credited with saying that "the time to buy is when there's blood in the streets.
Some significantly profound statements by uber wealthy people. Think about all the crazy shit going on right now politically, civil unrest etc. And then think how those 2 statements could apply to these turbulent, violent and CV-19 fear driven times we are living in. Who's driving it and who's prospering as a result? Anybody else hear about the J. Bezos $13 billion made the other week?
 

lbhsbz

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“Do the opposite of what everyone else is doing”

- some dude on RDP
 

Looking Glass

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Some significantly profound statements by uber wealthy people. Think about all the crazy shit going on right now politically, civil unrest etc. And then think how those 2 statements could apply to these turbulent, violent and CV-19 fear driven times we are living in. Who's driving it and who's prospering as a result? Anybody else hear about the J. Bezos $13 billion made the other week?


How long can this continue?

I'm betting not long. Once all this Government $ stop and within 6 Months, We'll see what is what.
 

ChiliPepperGarage

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Crazy times right now! I saw this thread when it first started and didn't think much of it. Then I decided I was going to try to list my '64 Catalina 2+2 again. Put it on facebook and it sold within an hour!

I found a quad on CL in Winnemucca which is in the middle of nowhere, NV. Called and the seller told me he had a guy coming from Chico, CA to buy it. Said the buyer told him all the ones for sale in CA are one to two grand more if you can even find them.

All these people buying brand new highly depreciating assets are going to take a beating at some point. I'm going to wait a while and then swoop up some deals when things go bad and people start dumping stuff.
 

bentprops

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How long can this continue?

I'm betting not long. Once all this Government $ stop and within 6 Months, We'll see what is what.
I try to watch the debit. Its what drives this stuff. When the powers that be want it to end they tighten the money supply. Also watch the usd "US Dollar", when It goes up fast a break down maybe imminent. Lastly these things tend to break near sept 21, just my 2 cent's, not worth much.
 

EmpirE231

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Well I am testing this toy market right now! Just listed my buddies hardly used RZR XP41K turbo in the classifieds..... we will see how long it takes to sell :cool:

Listed it on a Thursday, struck the deal on Friday, and it was picked up by Sunday morning. I'm no SxS expert, but I would say we got about 4-6K more that we could have 4 months ago. Interesting times.
 

Looking Glass

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I try to watch the debit. Its what drives this stuff. When the powers that be want it to end they tighten the money supply. Also watch the usd "US Dollar", when It goes up fast a break down maybe imminent. Lastly these things tend to break near sept 21, just my 2 cent's, not worth much.


You may OR may not be correct, but what scares me now and in the past is when it is not a natural run economy. I always get concerned when Man gets involved to 'CORRECT" things, ANYTHING.

The pawn shops are out of most all Electronics and Guns. Not saving or in your case paying rent. The Government just gave away a ton of $ to make the Economy under control. ?

People are not going back to work when the $'s from Heaven continues.:mad:
 

PaPaG

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So... I wasn't in the housing market during the last crash, but something seems similar. If my memory is correct weren't people taking out equity of their homes because the banks we're approving crazy loan amounts paired with low income. Fast forward today the banks are getting these refis squared away setting owners up for success with a cash out option for emergency use or home renovation not toys. Is the Morale of the story if you give the people money we go shoppin'!?
We were in the last crash and as I planned we were on the buying side once things hit what I thought was the bottom...some amazing purchases were made that is for sure, same is going to happen this time round as well... :)
 
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