Flex Posted January 7, 2017 Share Posted January 7, 2017 nub said What's the best way to invest around 30k down south if I already have a mortgage and don't want to use it to pay off the interest etc. Would love to buy to let a 1 bedroom flat or something but being that I've already got a mortgage, on paper it's unaffordable so I might give the money to my bro to do the same. Any other ideas what to do with 30k? How much would one need to begin low end property development? I.e like on homes under the hammer. I could raise more deposit but selling the Z is not an option of course and I'll buy mods each year What do you know about property development ? Do you have skills you could use doing some work yourself ? Do you have friends that have skills that you could use ? There's a bit more to it than buying a property and giving it a lick of paint ... Also I have seen many close friends and family members fallout over loans of much less value than 30k. I'd be very wary about loaning your brother 30k to invest in a property without water tight contracts and agreements in place. I also know of a lady who with her and her husband along with a couple who they were best friends with bought a property to redevelop 50/50 all was well and good until it came to the graft and the other couple seriously let them down so they did most of the manual labour to try and recoup their investment while the other couple sat back did very little and profited out of it. That sounds like a great idea, I hate hard graft Best suggestion so far!! 1 Quote Link to comment Share on other sites More sharing options...
ATTAK Z Posted January 7, 2017 Author Share Posted January 7, 2017 Just moved money around a bit ... interest up to £100/month now ... looking to do a bit more work to get another £20 using the same money 1 Quote Link to comment Share on other sites More sharing options...
Strudul Posted January 7, 2017 Share Posted January 7, 2017 (edited) The South / London is pretty much the same as the North, just more expensive. Name one good thing you have that we don't. Decent weather Doesn't bother us cos we ain't a bunch of fairies Lots of jobs Fewer Brexit voters Most leave voters were southern Accents you can actually understand At least we can pronounce water and butter (it's not wah-ah and bah-ah). Coats What? Newsreaders Since when is that a good thing? Easy access to Europe From all our airports and the Port of Hull? Airports Manchester... Proper kebabs Kebabs are vile and we have better Fish & Chips which is way more important Rugby Union Racetracks Most of them are in the Midlands and no Londoner would ever accept that as being in the South. You lads do tend to make a better cup of tea though Edited January 7, 2017 by Strudul 1 Quote Link to comment Share on other sites More sharing options...
Ekona Posted January 7, 2017 Share Posted January 7, 2017 No-one ever goes to Hull out of choice. 1 Quote Link to comment Share on other sites More sharing options...
Strudul Posted January 7, 2017 Share Posted January 7, 2017 Unless you want to go to Amsterdam. Quote Link to comment Share on other sites More sharing options...
ATTAK Z Posted January 7, 2017 Author Share Posted January 7, 2017 No-one ever goes to Hull out of choice. My TransAm overheated every time it went to Hull. Nowhere else. Just Hull (see what I did with my writing style there Dan ?) 2 Quote Link to comment Share on other sites More sharing options...
Ekona Posted January 7, 2017 Share Posted January 7, 2017 Unless you want to go to Amsterdam. No, you'd go anywhere else to get to Amsterdam. Hull truly is the armpit of the world. Apart from maybe Bradford. Quote Link to comment Share on other sites More sharing options...
ATTAK Z Posted January 7, 2017 Author Share Posted January 7, 2017 (edited) Unless you want to go to Amsterdam. No, you'd go anywhere else to get to Amsterdam. Hull truly is the armpit of the world. Apart from maybe Bradford. Hard choice there. One stinks of curry, the other stinks of fish. Edited January 7, 2017 by ATTAK Z Quote Link to comment Share on other sites More sharing options...
ATTAK Z Posted January 7, 2017 Author Share Posted January 7, 2017 Not sure why Hull stinks of fish Quote Link to comment Share on other sites More sharing options...
Ekona Posted January 7, 2017 Share Posted January 7, 2017 I blame the women of Hull. 1 Quote Link to comment Share on other sites More sharing options...
ATTAK Z Posted January 7, 2017 Author Share Posted January 7, 2017 I blame the women of Hull. You're confusing it with Grimsby ... there you can't tell the difference with a blindfold on Only joking if there are any Grimsby folk around 1 Quote Link to comment Share on other sites More sharing options...
ATTAK Z Posted January 7, 2017 Author Share Posted January 7, 2017 I blame the women of Hull. I set you up for that one Dan Quote Link to comment Share on other sites More sharing options...
nimz Posted January 7, 2017 Share Posted January 7, 2017 The South / London is pretty much the same as the North, just more expensive. Name one good thing you have that we don't. Decent weather Lots of jobs Fewer Brexit voters Accents you can actually understand Coats Newsreaders Easy access to Europe Airports Proper kebabs Rugby Union Racetracks You lads do tend to make a better cup of tea though + The best art galleries and museums in the country plus countless smaller independent ones. Vast amounts of incredible places to eat and the majority of the best restaurants in the country. The best theatres and shows. The best gig venues and you know when people tour in the UK they will almost definitely be playing London. Huge array of shopping, far more choice than anywhere else. Iconic architecture everywhere. Etc etc. Yes you get some of it elsewhere but not on the same scale, with same variety or the same quality. Unless your only interests are driving and the countryside I find it very difficult to believe you can't find anything you like about London. Quote Link to comment Share on other sites More sharing options...
Bandit Posted January 7, 2017 Share Posted January 7, 2017 It's a good game this ... I recently bought a car through CarWow ... I got 20.7% off list, so a good deal ... the discount included £1k manufacturer's contribution if I took out 0% finance deal which I will do. I now have to put down about £5K deposit which I'll do with a new 0% credit card and I'll invest the cash I would have used in a 5% interest account. The monthly payments for the next year will also be paid by said credit card and I'll invest that money in a 5% interest account too. At the end of 12months I'll do the same again and (hopefully) get a bonus for switching the current account and get another 0% credit card. At the end of that period I'll probably pay off the car with cash and interest earned ... The car's for Mrs ATTAK Z so she's happy, I've saved money and will make money on the investment, so I'm happy, and I've sold the old car privately for a good price which has already been invested. Also the new car is zero road tax if it's registered before April (which it will be) So that's a WIN WIN WIN WIN WIN WIN situation if my calculations are correct ...happy days ETA and I get 0.5% cash back on all credit card purchases ... I have a quick question ATTAK, if you buy a car say for £25k on 0% finance and you keep it for a year or so and you sell it you will get £18k for it if your lucky depending on the car. How do you factor in the £7k loss or am I missing something..? Quote Link to comment Share on other sites More sharing options...
ATTAK Z Posted January 7, 2017 Author Share Posted January 7, 2017 I have a quick question ATTAK, if you buy a car say for £25k on 0% finance and you keep it for a year or so and you sell it you will get £18k for it if your lucky depending on the car. How do you factor in the £7k loss or am I missing something..? No I didn't say I was buying it as an investment so you're quite right if you thought I was ... the only way to make money on a NEW car is to be on the Ferrari or Porsche mega-customer list. Which I am definitely not. The car I bought is for Mrs ATTAK, will do few miles and WILL depreciate. It will probably be the only car we have when I can't justify/afford having more than one car. 1 Quote Link to comment Share on other sites More sharing options...
Bandit Posted January 7, 2017 Share Posted January 7, 2017 I have a quick question ATTAK, if you buy a car say for £25k on 0% finance and you keep it for a year or so and you sell it you will get £18k for it if your lucky depending on the car. How do you factor in the £7k loss or am I missing something..? No I didn't say I was buying it as an investment so you're quite right if you thought I was ... the only way to make money on a NEW car is to be on the Ferrari or Porsche mega-customer list. Which I am definitely not. The car I bought is for Mrs ATTAK, will do few miles and WILL depreciate. It will probably be the only car we have when I can't justify/afford having more than one car. I have a pet hate of loosing money on cars, so I have a budget of about £10k for a car, so I look around and buy something I like at that price that I can keep for 2 years and sell for the same amount as I paid for it, has worked up to now. It just seems a lot of work and afford to accumulate say £2k or £3k PA on interest and then loose it on a car via depreciation. But that's just me, also every couple of years or less you can get a reasonably nice car that somebody else has taken a big hit on. Quote Link to comment Share on other sites More sharing options...
gangzoom Posted January 8, 2017 Share Posted January 8, 2017 (edited) ^ All depends on how much disposal income you have to play with. A few yeara ago we wouldn't have dreamed of buying a brand new car and nor could we afford it. But we work hard, and have both done well in our jobs and progressing up the ladder quickly. Yes by buying used cars we will have more £ in the bank, but what's the point of working hard and saving money if your not going to spend it. We thought about cancelling the up and coming new car purchase, and instead throw the money into the mortgage, but actually we are both really looking forwards to the Tesla arriving and £250/month off the mortgage isn't really going to put as big smile on our faces as a car with gull wing doors . I know some people on here don't get EVs, I'm very much still a car nut and wasting money on cars is in my blood!! But you wouldn't catch me spending more than £30 on a pair of jeans, I may like spending on cars but that doesn't mean I like to waste it on other stuff like clothes . Edited January 8, 2017 by gangzoom 1 Quote Link to comment Share on other sites More sharing options...
Strudul Posted January 8, 2017 Share Posted January 8, 2017 ^ All depends on how much disposal income you have to play with. A few yeara ago we wouldn't have dreamed of buying a brand new car and nor could we afford it. But we work hard, and have both done well in our jobs and progressing up the ladder quickly. Yes by buying used cars we will have more £ in the bank, but what's the point of working hard and saving money if your not going to spend it. We thought about cancelling the up and coming new car purchase, and instead throw the money into the mortgage, but actually we are both really looking forwards to the Tesla arriving and £250/month off the mortgage isn't really going to put as big smile on our faces as a car with gull wing doors . I know some people on here don't get EVs, I'm very much still a car nut and wasting money on cars is in my blood!! But you wouldn't catch me spending more than £30 on a pair of jeans, I may like spending on cars but that doesn't mean I like to waste it on other stuff like clothes . Would still have made more financial sense to wait another year or 3 and get a used Model X. 2 Quote Link to comment Share on other sites More sharing options...
Alpinaman Posted January 8, 2017 Share Posted January 8, 2017 I try and not lose on a car but rarely keep them more than 12 months... I have had the Z around 5 months now and have been offered profit in 2 x px deals.. a cayenne and a C63.. It's not easy to do and takes a lot of time and research into the market, trying to ascertain what will hold money, make a little or is gonna bomb.. I have had 5 x Z4's and collectively they made me nearly £8000 I had a Z3M coupe and a 911 C4s that I let go for a song, made a few quid but could have made a LOT more if sold at the right time ...but I use all the cars I. It as my daily driver and don't have the luxury of being able to store cars I enjoy it... it's good fun and you effectively get free motoring whilst owning some nice metal along the way Quote Link to comment Share on other sites More sharing options...
gangzoom Posted January 8, 2017 Share Posted January 8, 2017 (edited) Would still have made more financial sense to wait another year or 3 and get a used Model X. Ofcourse it does but I have a long history of wasting money on cars, and that isn't changing because I now buy EVs.....The X isn't the car I really want though, the X is about carrying the family around and been safe, the EV I'm really waiting for is the 'P' version of the Model 3, 500bhp+ of instant electric motor power in a car that weighs 1 ton less than the X, its going to be some machine. I reckon it'll be 2019 before we see the first Model 3 land on UK shores, and I'll be at the front of the line . Edited January 8, 2017 by gangzoom Quote Link to comment Share on other sites More sharing options...
Ekona Posted January 8, 2017 Share Posted January 8, 2017 I buy whatever car I want and f*ck the depreciation or running costs. Life is too short, and I may go out without a penny to my name but I'll still consider it money well spent 3 Quote Link to comment Share on other sites More sharing options...
Alpinaman Posted January 8, 2017 Share Posted January 8, 2017 Yep,... You keep with that 6..... Quote Link to comment Share on other sites More sharing options...
Ekona Posted January 8, 2017 Share Posted January 8, 2017 Exactly. Costs a fortune in fuel but makes an awesome noise, worth every penny. Quote Link to comment Share on other sites More sharing options...
coldel Posted January 8, 2017 Share Posted January 8, 2017 I cannot imagine you are going to lose much in depreciation on the 6er given what you paid. But I couldn't imagine buying a new car and watching 20%+ disappear off the value the second I drive it off the forecourt. Let alone compound that when people use loans to buy new cars so paying more than the car is worth once you factor in interest payments. I guess for others its all part of the experience, not for me though. 1 Quote Link to comment Share on other sites More sharing options...
Ekona Posted January 8, 2017 Share Posted January 8, 2017 I owned a 911. That was my dream car. Cost me a fortune, but I got to live my dream. Can't put a price on that, I reckon. Some people have lots of foreign holidays, which you could argue is even more of a waste of money. I prefer to waste my money on things with engines. 1 Quote Link to comment Share on other sites More sharing options...
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