Owning a house and 1 car or renting and owning 4 cars?

You can buy 4 cars cash with your food money 
laugh.gif
 

But I'll play along I'll take mutliple houses with multiple cars (max of 3 cars)
 
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millenial said:
People have lost way more money on properties than cars so you can lose money on anything first of all.  
Click to expand...
peolkr have gained way more money as well...


Outside of a forinn exotic racer car... An automobile depreciates over a period of time...


Real estate in most cases doesn't...

You csn build new cars...



You can't build more land.
 
Fontaine said:
peolkr have gained way more money as well...


Outside of a forinn exotic racer car... An automobile depreciates over a period of time...


Real estate in most cases doesn't...

You csn build new cars...



You can't build more land.
Click to expand...
Investing in real estate is all luck, even Robert Herjavic said it on Shark Tank.  You either catch a great wind or you don't
 
millenial said:
 
Investing in real estate is all luck, even Robert Herjavic said it on Shark Tank.  You either catch a great wind or you don't
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Tell that to the people that are making money off of real estate. It is no luck its just analyzing deals and pulling the trigger.
 
millenial said:
 
Don Adidada said:
 
You can't be that dumb.

Assuming you aren't just a troll....

Owning > renting. Owning your home allows you to sell it, rent it out to someone else, run a business out of it, etc. In short you can make money off of it ON TOP OF living there. It is an asset that can bring in revenue.

Now you're right that a lot of things we buy depreciate but cars depreciate stylistically not in utility. And you can only drive one at a time so owning 4 is not beneficial. And just like you can make money off owning a house, you can make money off owning a car. Uber, Lyft, gypsy cab, thats why your proposition of owning 4 cars is crazy.
Click to expand...
People have lost way more money on properties than cars so you can lose money on anything first of all.  
Click to expand...
Like I said there is more utility and money to be made overall on 1 house and 1 car than no house and 4 cars.

So the risk of losing money on property as a solo dude is small considering youre probably not trying to flip it within a short period of time.
 
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Do you what you feel, but understand those around you with your 4 cars and renting think you're an absolute joke.
 
You can save Money and live in your car (that you own) and rent out the other cars to people Who you can make money off of because they are living in the cars that you own...
 
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This question depends on what the person likes, as this is not an investment question. Most people who buy homes aside from buying for rental purposes will lose money when you factor interest, repairs, and property tax factors over a 30 yr mortgage. Most/almost all vehicles will lose value especially if bought new(aside from collectors and exotics).

Live how you want, but personally I wouldn't own more than 2 cars since they would never get used.
 
millenial said:
And what do I tell to the people that are losing money?
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Don't buy houses with negative cash flow? Get other investors opinions before making a purchase?

I honestly want to know who is losing money on houses right now? Out in Cali people are making a killing, and anyone that bought post market crash has at least doubled their money.

Buying a bunch of cars and renting makes 0 sense to me. Neither are considered assets.
 
AmericanGenius said:
This question depends on what the person likes, as this is not an investment question. Most people who buy homes aside from buying for rental purposes will lose money when you factor interest, repairs, and property tax factors over a 30 yr mortgage. Most/almost all vehicles will lose value especially if bought new(aside from collectors and exotics).

Live how you want, but personally I wouldn't own more than 2 cars since they would never get used.
Click to expand...
Finally someone that makes sense, the question was just to see people's preference as either house person or car person.  I guess in your case you'd rather have 1 than as thats closer than 2 than 4 is
 
millenial said:
AmericanGenius said:
This question depends on what the person likes, as this is not an investment question. Most people who buy homes aside from buying for rental purposes will lose money when you factor interest, repairs, and property tax factors over a 30 yr mortgage. Most/almost all vehicles will lose value especially if bought new(aside from collectors and exotics).


Live how you want, but personally I wouldn't own more than 2 cars since they would never get used.
Click to expand...

Finally someone that makes sense, the question was just to see people's preference as either house person or car person.  I guess in your case you'd rather have 1 than as thats closer than 2 than 4 is
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Should just change the title to "Owning a house and 1 pair of sneakers or renting and owning (x amount) pairs".
 
If the question meant no financial repercussions and no other factors considered, I think most would pick the 4 cars with a decent apartment (by decent I mean actually nice and not some studio apartment in the worst part of the city).
 
I rent an apartment and own a car and a truck (both paid off)

I prefer the apartment life (24 no kids) rent is about 15% of my income so I have more to save/invest

Housing prices are too high in SoCal right now plus I don't want a 15yr loan right now. I hate debt.
 
Yeah there are way too many variables that go into answering this question correctly.

-Location?

-How old iz you ***** ?

- What kind of cars?

- Familiar situation? married? Kids?
 
Oh YoU MaD said:
I rent an apartment and own a car and a truck (both paid off)

I prefer the apartment life (24 no kids) rent is about 15% of my income so I have more to save/invest

Housing prices are too high in SoCal right now plus I don't want a 15yr loan right now. I hate debt.
Click to expand...

You know what, I own my house but I actually miss the apartment life. No worry of high cost maintenance, the freedom to move, in house amenities (pool, guest area, ect). I'm about to sell this place and make it happen. I don't even need that much space either. Nice luxury apartment life is for me
 
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From 2006 - 2010, it would have been better to rent the apartment and own 4 cars.
 
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Sell the house and get the cash
Sell the cars and get the cash
The only 2 things people in this world respect is money and violence
 
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