100 other ways to fund you mod fetish!

[XRQTOR]

Originally Posted by TURBOTAXI

Yeah but 5 of them cost me $45,000 or less. So it sounds more impressive than it really is.

Not the point mate they are still assets, whats the return on them. What part of country nsw we talking about here.

[XRQTOR]

Saving my hard earned mostly but if a deal comes up that i cant refuse or i see a deal where i know i can make money i'll jump on it.

2 months ago i bought a set of HSV 19'' wheels with rubber for $2,ooo from a guy my mate know's. My mate sold them for $32oo the same day. All i had to do was go give my mate the money and i made $1ooo. Also bought 2 sets of BA 18" wheels since xmas and sold them, made about $3oo a set selling them fairly cheap. Some people have no idea what factory rims are worth.

[TURBOTAXI]

How long is a peice of string? How well anyone is doing is all relative. I drive a very average car, and we dont live in a mansion. The whole point of +CF (Positive cashfow) property is that capital gain is less relavant, rather we focus on what the property makes over and above what is costs. eg: purchase price $42k monthly interest <>$210-$230 rates pm $35 insurance $20pm, that means I pay out $265 - $285 per month but with the property rented at $130 per week ($520 per month) I have a +CF of $235-$255 per month per property, then it is just a matter of duplicating. So considering we dont pay the motgages, the tenants do there is no limit to the number I can buy as my serviceability improves with each property I buy. It is not glamorous, and it can be hard work if you buy a roughie and need to do it up. But it is a way of setting up a passive income that can eventually replace your working income.

[TURBOTAXI]

I mostly buy property in satelite towns to large regional centres. I have property around Dubbo, Rockhampton QLD and at North Richmond in the foot hills of the blue mts out of Sydney.

[XRQTOR]

Originally Posted by TURBOTAXI

How long is a peice of string? How well anyone is doing is all relative. I drive a very average car, and we dont live in a mansion. The whole point of +CF (Positive cashfow) property is that capital gain is less relavant, rather we focus on what the property makes over and above what is costs. eg: purchase price $42k monthly interest <>$210-$230 rates pm $35 insurance $20pm, that means I pay out $265 - $285 per month but with the property rented at $130 per week ($520 per month) I have a +CF of $235-$255 per month per property, then it is just a matter of duplicating. So considering we dont pay the motgages, the tenants do there is no limit to the number I can buy as my serviceability improves with each property I buy. It is not glamorous, and it can be hard work if you buy a roughie and need to do it up. But it is a way of setting up a passive income that can eventually replace your working income.

Might not be glamours now mate or retuning big $ atm but once they are paid off you'll be laughing. $13o per week per house x 7 houses is $91o a week. I take my hat off to a smart man.

[MITCHAY]

There is people who own 100s of homes which is amazing. The basic jist of it all is to be making more of it than your paying on it. Also some people can buy houses just to sell them when the value increases. Someone i know bought a house for $100000 and can sell it for $140000. Just made $400000 profit if he sells it

[Dez]

Originally Posted by MITCHAY

There is people who own 100s of homes which is amazing. The basic jist of it all is to be making more of it than your paying on it. Also some people can buy houses just to sell them when the value increases. Someone i know bought a house for $100000 and can sell it for $140000. Just made $400000 profit if he sells it

settle down mitch. $140,000 - $100,000 is $40,000. not $400,000 ;)

$40k is still nice obviously.

[TURBOTAXI]

There are plenty out there. If you go to www.realestate.com.au and establish search parameters of price and let the search give you the answers. $45k was my dearest that was purchased as an investment. I have paid $18000, $23500, $27000 $42,000 and $45,000 so the returns can be better. The 27k house after 5k in renos will be revalued in excess of 50k (meaning I can access that equity to fund new aquisitions) and will pay me $140 per week.

[MITCHAY]

Originally Posted by Dez

settle down mitch. $140,000 - $100,000 is $40,000. not $400,000 ;)

$40k is still nice obviously.

lol typo hahhahaha

[XRQTOR]

Originally Posted by MITCHAY

There is people who own 100s of homes which is amazing. The basic jist of it all is to be making more of it than your paying on it. Also some people can buy houses just to sell them when the value increases. Someone i know bought a house for $100000 and can sell it for $140000. Just made $400000 profit if he sells it

My old man bought vacent land in an industrial estate to build a shed on it for his business, sat on it for just over 2 years and got offered a stupid amount for it. Cleared 6 times the original investment once all was done. If you can afford it vacent land is the big short term money maker weather it's private or industrial.

[MITCHAY]

Yeah heard land is good way to go. I was thinking when i get a full time job that it might be a good idea to get an investment and use that to fund my own house and car projects. As with shares their is risk in any investment. You got to be prepared to take it and you can lose money aswell. You could buy a property and then it decreases in value. Then your ****ed

[trick_xd]

Well every thing i have i own outright . So apart from Bills Mine and the missers Cars get what we want for them . and now im haveing 3 day weekends i have some time to play around

[Mechan1k]

I work a decent job in the Networking Dept at optus .. plus I am a part time courier driver .. my 2nd job makes more money than Optus would you believe it (minimum $220 per day).

Also a credit card helps at times .. but it get spaid back up every fortnight.

[Timmeh]

Originally Posted by neb

worked for it.... .. and my brother

Go the brothers - heh. I have considered selling rare trim parts of the RS2000 to fund go fast parts, but in the end I can't bring myself to do it, I'll just patiently save.

Tim

[FordFan86]

I work, and save... don't waste it on anything i don't really need, and the banks come in handy. After tafe i'll be looking for full time work for 6 months to play with my car and save for uni

[Smoke Pursuit]

By throwing all my change in a coin tin and then banking it.. I don't mod my car much but like to occasionally spend some money on them especially when they are new and I am decking them out with tint / phone kits etc.

My car is complete for now, ill probarly put my saving coins away for the next one.

[AdzT3-146]

work hard, take all the overtime, save and sometimes borrow money off the olds.

[dansedgli]

Every time I dont go out and get ****ed I save myself $80+ and a hangover the next day.

I live at home and work full time, while going to uni part time. I dont really have many expenses, my phone bills have gone down to $40 from $150+ by changing to orange. I get free 5 minute calls to all my mates and GF and free sms to everyone as well.

Other than my phone bill, I pay for a gym membership that I dont use. The rest is able to go to my cars. Soon I will have a 13 second mini!! I cant wait to drive a manual again!

[MITCHAY]

I get smashed before i go out that way save a fortune on drinks. Just have a few to keep me goin. Dont usually get a hangover. I live at home so not hard to save up but now im saving up for a car. Job interview today YAY so hopefully more funds for next car lol. Oh man do i have to give up the smokes lol. That will save me money.

[Captain Stubing]

Originally Posted by MITCHAY

... Oh man do i have to give up the smokes lol. That will save me money.

It's almost 4 months since I gave them up Mitchay! Best thing I've done, now I just have to convert the missus. I'd been smoking the last 18 years. Figure out how much that might have cost at 30-40 a day.

[MITCHAY]

Originally Posted by swanny

It's almost 4 months since I gave them up Mitchay! Best thing I've done, now I just have to convert the missus. I'd been smoking the last 18 years. Figure out how much that might have cost at 30-40 a day.

Answer to that question= A ****LOAD lol

Well ill be a bit of a smarty pants :P

Say bout $20 a day X7 = $140 a week. $140X 52 = $7280 a year. $7280X 18= $131040 blown on giving yourself cancer lol.

Even if it wasnt so expensive any money you save would be better than a slap in the face. Im pretty good though usually only spend bout $30-40 a week on the durries where as my dad probably smokes $200 worth a week.

[LuvinmyEB]

Keeping the loose change I find in the pockets when I'm doing the washing. :

I own everything that I have, being unemployed for so long was not something I planned but life throws you curve balls and you have to do the best you can.

Hopefully I'll be working again soon so as long as I can keep a roof over our heads, food in our mouths and clothes on our back without struggling I'll be happy. Then I'm going to start up my 'mod' bank account. ;)

[MotherNatureVer2]

I usually use my at home haircuts for car mods ..... not that I have any mods but really running costs.

Being on a pension + raising three kids doesnt allow for much .... but I do have a sympathetic mechanic who lets me pay off the jobs ....... Just got the wagon rego'd & needed an exhaust (damn that huge rock) and a tappid cover gasket ........ am paying it off but she does sound a heap better & goes well too .......

A mod fund ........ one day ....... anyone know of some rich old dude who needs company & will leave his riches to his new company ... hehehehehhehe... then I can have my Sprint & a Terry :P

[Feathers]

I worked every public holiday for 4 years. I did graveyard shifts when they asked..
Every cent went into the bank.
I live at home as well, but I had to pay all my expenses on my old car, and pay board and my phone bills/internet.
I never denied myself anything. If I wanted to go out with friends I did. When I wanted to get my windows tinted, or put a cd player in the XD I did.
I went away for weekends with friends too.
It took me awhile, but I knew I wanted the BA, and that was my goal.
I finally got it in January, and although my Dad did lend me some $$, that was only because he wanted me to still have cash in the bank to fall back on if I really needed it.
I'm paying that money back to him now as well, and I'm starting to save again for a few things I want to do the the XR.

[Psycho Chicken]

Oh crap, bank account is about to go into the red.....I just got some heads that I can barely afford. Ah well, no take away for a few weeks.

[Peuty]

Save save save, its all i ever seem to to. Though, like Feathers, I have never denied myself of anything either.

[FRDXR6]

Originally Posted by dansedgli

Every time I dont go out and get ****ed I save myself $80+ and a hangover the next day.

Haha i know what you mean im not going to have any big nights for the next two weekends because of exams : which is good in a way because it means i'll have like an extra $150+ for no reason lying around :. Although i might go overseas next semester because im sick of uni at the moment so that means lots more saving in next month or two

[smciner1]

Overtime (tm)..........

[JAJH]

I just let the wife have unlimited sex with me and then I get what I want for the car!!

[rodderz]

weekend work, landscaping the house of the owner of the company that install's the said mod, selling of old gokart to buy the ute

These days all the extra work goes to paying bills and doing stuff to the house

I must take the above unlimited sex option on board though.....