What would you do if...?

Probably stop renting.

 

Rule #1: Do not get married or have kids yet. If you must get married, wait until you're at least 30 and sign a pre-nup.

Rule #2: Make your money work for you. Now is the time to take chances -- you can make the money back again. It's much easier to take chances at age 25 than at age 55.

Rule #3: enjoy life while you're young. People will tell you to buy a house, save for your retirement, and save for your unborn kids' college tuition. I would say to make sure you spend some of your money on yourself -- you can do all of the above and still carve out a few bucks for a 360...

 

Buy RE. Maybe in a few months ..

 

Buy a foreclosure and a Challenge Stradale.

 

Buy a 599 from Premier, and you will still have money left over!!!

 

It really depends on the steady income. $500K [liquid] is quite a bit of money to many people but won't go far if start spending it and you are only making $60K per year.

Buy a modest house with a 20% down payment (to avoid PMI).
Buy a nice car that makes you smile (realizing it is an expense and not an investment).
Invest aggressively and put your money to work for you (assuming you can earn more than the interest paid on your mortgage).
Live below your means.

 

You are still 25? You were also 25 three years ago (see your first post, July, 05) ....

 

Looks like you broke your own law, dipsh*t!

 

You tripled the value of your 25th year of life, excellent time management!

 

What does this have to do with 360's or 430's???

I'll bite though....what would I do with 500k at 25 making 200k a year?

-Likely use 200k as a nice down payment on a condo/townhouse in a cool part of town.

-Pay down some debt.

-Buy a nice "sporty" car...M3 or M5, Vette, Audi R8.

-Invest the rest

IMO 500k is not a HUGE amount of doe and I employee Physicans Assistants that make nearly 200k a year friendo.

If this is trully YOUR situation then I would suggest you save your pennies

 

I was going to call BS, but you did it with much more style!

 

Play the market (commodities) after you put a non-qualifying deposit on a nice condo/townhouse and maybe indulge (by that I mean put a down payment or lease) in a good used 308/328/348/355 (something under $60G's). Let the rest of the cash work for you!

REMEMBER: Having liquid asset (available at a moments notice) is still better than any "R.E. or Investments", so watch your spenditures carefully! Dont empty the well!

 

The thread/post in question.

http://www.ferrarichat.com/forum/showpost.php?p=135095348&postcount=1
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OMG! BUSTED!?

LOL!

 

He need to have this as his sig:

"Act as if."

 

Well Gee, Taggert.....

 

Three kinds of people. People that are stuck in the past...and don't age.

I'd say screw the cash; you are Johnny Immortal and can just sit back and cruise.

 

You must leave her brother.........

 

.........you just got caught.

Your post 07/28/2005...............
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Ahah . . .

 

well, not to be the devils advocate, but I don't think that he ever said that he is 25 in this thread. He also never said that he was a renter, had a half million, or was making 200k per year. It is alluded to the fact that this is his situation. The post just asks what would you do?

If it turns out that this guy truly is a turd just disregard this post all together

 

It's still an interesting question. The RE market is really weird -- everybody is in deeper than the reduced value, so the prices can't drop. So everyone is still trying to get the earlier prices -- even on the foreclosures.

So RE is now priced above its value. Who wants to buy into someone else's loss?

At least, that's how the market looks to me.