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Worst investment cars and homes

Discussion in 'Off Topic Threads' started by smsnyder, Mar 26, 2010.

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  1. smsnyder

    smsnyder Well-Known Member

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    Well that,s how i feel. I see people buying homes for $300,000 and after they pay the interest for 30 years its 5 times a much or more. Wrong. Cars are the same way, buy it new vehicle and loose 40% within a year. Wrong. Best investment trapshooting. LOL
     
  2. halfmile

    halfmile Well-Known Member

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    Earl, did you just get stung on a repo house?

    HM
     
  3. smsnyder

    smsnyder Well-Known Member

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    No the bank did on three of them. How about $500,000 in losses on three homes? Some people just don't pay there bills.

    MODERATOR - Please place these kinds of threads in Off Topic or elsewhere, not in shooting related. Thanks.
     
  4. mixer

    mixer Well-Known Member

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    It's up to you to choose where the thread is placed not the moderators.

    Eric
     
  5. School Teacher

    School Teacher Well-Known Member

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    Wives can also be a very risky "investment". I got lucky and picked a good one 40 ears ago. We shot informal trap on our first date and she hit her first target.

    Trapshooting was and is a great investment for me. I have met many friends and had many a good time.

    As to cars, we typically buy new and keep the vehicle for 15 years, properly maintained for safety and appearance, and then donate the vehicle to charity.

    Ed Ward
     
  6. grnberetcj

    grnberetcj Active Member

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    If we would all take advantage of the tax loopholes, then a car/truck can counteract your tax liabilities thus costing you almost nothing.

    Curt
     
  7. GW22

    GW22 Active Member

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    A nice air-conditioned house and a new car are basic human rights. These things should be provided to all Americans by the federal government. This would help reduce the national debt just like the new healthcare bill.

    -Gary
     
  8. Tripod

    Tripod Well-Known Member

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    don't forget cheap beer Gary. It is a human right too! Homer Simpson says so.
     
  9. GW22

    GW22 Active Member

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    Cheap hell -- FREE. This is America.

    -Gary
     
  10. Big Jack

    Big Jack Well-Known Member

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    I was told how to end up with a million dollars Trapshooting...Start with two!
    Now tell me thats not true!

    Big Jack
     
  11. stokinpls

    stokinpls Well-Known Member

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    This is especially true in Detroit.
     
  12. W.P.T.

    W.P.T. TS Member

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    Homes might be one of the best overall investments even at this time being as they can be bought for what they are really worth or close to it ... There is a home not far from where I live that sold for $699,000 when the market was up, it just sold to the same realtor that sold it for $699,000 for $300,000 which is what the current value of the home is ... The decline in realestate has slowed but is still slipping ever so slightly ... Cars have never been a good investment unless they are classics and then there are very select indiviuals who deal in that market, and they know what they are talking about more times than not ... Repos are not a good investment even though they can be bought cheap because more times than not the person who is losing it knows it and quits taking care of it ... Best thing is to buy new and pay cash, eliminates the problem of the Repo man coming to get it ... WPT ... (YAC) ...
     
  13. KEYBEAR

    KEYBEAR Active Member

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    Earl I sold an old pickup truck (1990) as it was getting old and alot of rust . Was thinking about an older Jeep Wrangler (98-05) and can,t believe the price being ask . 1998 wrangler 4X4 4 cl 5 speed 100,000 miles $7000.00 and it gets worse . Think I will forget it and just trade for a new tuck sooner .
     
  14. GW22

    GW22 Active Member

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    Like anything else, the wisdom of making an investment varies case-by-case.

    I've been fortunate enough to make a decent profit on several homes, but some of that was because I fixed them up while I lived in them.

    Firearms can be an pretty decent investment if you know what you're doing and take care of them. Over three decades of buying/selling/trading I can't think of a single deal where I didn't end up making money. And think about this -- how many other things can you own, use, and enjoy for years with minimal maintenance cost and then sell at a profit? Not too many things other than firearms.

    -Gary
     
  15. Tron

    Tron Supporting Vendor Supporting Vendor

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    I bought a buttload ot TWA stock 2 weeks before flight 800 was shot down by a missle. No, I'm not kidding. Beat that!
     
  16. Bisi

    Bisi TS Member

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    Tron, I know how you feel. I purchased some Washington Mutual stock on a Monday and they got took over by the Feds on Thursday night. Owned em 3 whole days before they went belly up.

    Speaking of airlines - I've got a dividend check from Eastern Airlines that bounced. Bank sent it back to me with insufficent funds marked on it. Still got it somewhere. I should've learned my lesson then and stayed away from the stock market.

    I'm a dunce, and just a worker bee. The only money I ever made in life was from working. The investments all went to hell.
     
  17. short shucker

    short shucker TS Member

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    First home I bought for $35,000 and sold it for $90,000 5 years later (good location).

    I turned around and bought my present abode for $115,000 and logged out the back 20 (selective cut) for a $38,000 return. Between what I sold my old place for and what the logs brought, my property was paid for with money left over.

    My last appraisal was for $215,000 one year ago.

    I bought a P/U a few weeks ago for $2,500 and sold it for $5,000 one week later. All I did was spend a day cleaning and waxing the old girl up. It was actually a nice truck once I cleaned it up.

    I've faired better than most when it comes to property and auto's. I never buy property in town or in an edition. Way too much BS for me.

    ss
     
  18. W.P.T.

    W.P.T. TS Member

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    jcl,

    Not sure when you sold them but if it was lately you had to take a hit unless you bought them for next to nothing in the first place, and remodeled or renevated them ... Where you are located has a lot to do with it also, in Arizona you can steal property right now for the most part ... People are taking offers way below their asking price just to unload them ... WPT ... (YAC) ...
     
  19. wolfram

    wolfram Well-Known Member

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    I have had good luck on the two stick built homes that I have bought and sold. Not so good with my first mobile home. It is true though, a lot of people got into a new home a few years ago at exaggerated prices backed variable rate or intrest only loans and they are deffinately underwater now.

    Bad investment or good, you need to have a place to live and rent will always be a metered loss.
     
  20. southjblue

    southjblue Active Member

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    I think guns and ammo are a human right also---Don't forget those homes need heat and elect and those cars need fuel and ins etc---where does it end and who pays 4 it all---??? sjb
     
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