What would you do with 5 million dollars?
06-02-2009, 12:03 AM
#21
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Originally Posted by craigm1841' post='897669' date='Jun 2 2009, 03:04 AM
how about the topic "what is the craziest thing you would do for 5 million dollars" 
bwahahahahaa
06-02-2009, 12:25 AM
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Originally Posted by v_therussian' post='897686' date='Jun 2 2009, 04:03 AM
let me do the math... a-ha, ok, 1 mil is 2, 2 times 5 is 10... okay, I'll do 10 chicks at the same time bwahahahahaa
bwahahahahaa
06-02-2009, 12:27 AM
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Originally Posted by craigm1841' post='897697' date='Jun 2 2009, 04:25 AM
i wouldnt do that for 5 million, i would do that for free.
06-02-2009, 04:57 AM
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Originally Posted by slickrick' post='897607' date='Jun 2 2009, 01:59 AM
R-. why am i trying to recoup my 5 million? i still own 5 million in property, which is building equity. point is moot.
A- You hope it's building equity, this is all hypothetical and speculative. Very naive if you think the point is moot.
R- Sure I could rent the condos. buy properties that already have tenants. very common.
A- This is not your first recommendation. You stated buy them and then rent them.
R- headaches if i dont sell the property? why, I dont have a mortgage payment and i am surely not strapped for cash. My property manager handles that crap anyway. it is a paper investment for me.
A- You still have taxes, your 5mil is fully invested unless you have another 5 mil we don't know about? Cool paper investment $5 mill worth of paper.
R- risk is minimal in real estate when the economy is down. 20K is less per month not to mention the profit lost on built equity. I will take the 10-15K a month extra over your plan and put it in a high yeild money market account if it makes you happy. modest 5% return though? doubtful in this world at this time.
A- Risk is minimal don't you live in florida. Have you not seen what has gone on with the real estate in that state. I don't know who you invested with but mine returns 6%. Regardless your speculating on you gains.
R- the dropping dollar bills was a joke. that was implied.
A- tasteless.
You wanted a debate don't be a child. Have a nice night.
A- You hope it's building equity, this is all hypothetical and speculative. Very naive if you think the point is moot.
R- Sure I could rent the condos. buy properties that already have tenants. very common.
A- This is not your first recommendation. You stated buy them and then rent them.
R- headaches if i dont sell the property? why, I dont have a mortgage payment and i am surely not strapped for cash. My property manager handles that crap anyway. it is a paper investment for me.
A- You still have taxes, your 5mil is fully invested unless you have another 5 mil we don't know about? Cool paper investment $5 mill worth of paper.
R- risk is minimal in real estate when the economy is down. 20K is less per month not to mention the profit lost on built equity. I will take the 10-15K a month extra over your plan and put it in a high yeild money market account if it makes you happy. modest 5% return though? doubtful in this world at this time.
A- Risk is minimal don't you live in florida. Have you not seen what has gone on with the real estate in that state. I don't know who you invested with but mine returns 6%. Regardless your speculating on you gains.
R- the dropping dollar bills was a joke. that was implied.
A- tasteless.
You wanted a debate don't be a child. Have a nice night.
06-02-2009, 05:00 AM
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$5 million US Dollars?
I would get a cheap suit and then go out for a nice dinner.
I would get a cheap suit and then go out for a nice dinner.
06-02-2009, 05:02 AM
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The very first thing I would to is go to my dealer and order a Jet Black M6 with every option under the sun 
06-02-2009, 05:15 AM
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Sillyness. Rick, you've got the right idea. Craig, you've got the right idea too but it's 3 years too late. The assumption of built equity is naive and one of the reasons were in this mess in the first place. My russian friend in brooklyn, no.
06-02-2009, 06:42 AM
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1) $800,000 in gold. I can't shake the feeling that the US is in for some SERIOUS inflation. Gold is a stable store of value and not subject to much manipulation from government and central bankers (the Fed's Monetary Base graph looks like a hockey stick). Don't confuse a fluctuating gold price for changes in its value...it reflects changes in the Dollar's value.
2) Silver e60 M5, red leather interior with aluminum trim, with mods, budget $125,000.
3) Car for the Lady...budget $75,000
4) House/condo...I plan on continuing working...$1,000,000.
5) $8,000,000 apartment community...$2,000,000 down with a 75% agency mortgage. If you bought at the right price, net after-tax income would run around $300,000/year (15% ROE is what a lot of purchasers are looking at in multifamily and commercial real estate today).
6) $500,000 for the equity markets...I wouldn't be buying right now, but I'd place a few limit orders and try to pick off some value. I'm not a "trader."
7) $500,000 reserve
I like having at least 20% of net worth in liquid assets. There's a significant risk in putting 40% of net worth in a single-asset, but when you can buy an apartment community for only 10 times NOI (versus 15-20 times not too long ago) and with rents and occupancies currently depressed, I think it is a pretty safe investment. With non-recourse debt, the rest of your assets are safe as well.
2) Silver e60 M5, red leather interior with aluminum trim, with mods, budget $125,000.
3) Car for the Lady...budget $75,000
4) House/condo...I plan on continuing working...$1,000,000.
5) $8,000,000 apartment community...$2,000,000 down with a 75% agency mortgage. If you bought at the right price, net after-tax income would run around $300,000/year (15% ROE is what a lot of purchasers are looking at in multifamily and commercial real estate today).
6) $500,000 for the equity markets...I wouldn't be buying right now, but I'd place a few limit orders and try to pick off some value. I'm not a "trader."
7) $500,000 reserve
I like having at least 20% of net worth in liquid assets. There's a significant risk in putting 40% of net worth in a single-asset, but when you can buy an apartment community for only 10 times NOI (versus 15-20 times not too long ago) and with rents and occupancies currently depressed, I think it is a pretty safe investment. With non-recourse debt, the rest of your assets are safe as well.
06-02-2009, 06:47 AM
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Originally Posted by EersNC' post='897834' date='Jun 2 2009, 10:42 AM
5) $8,000,000 apartment community...$2,000,000 down with a 75% agency mortgage. If you bought at the right price, net after-tax income would run around $300,000/year (15% ROE is what a lot of purchasers are looking at in multifamily and commercial real estate today).
75% mortgage on the property you describe doesnt exist and your ROE is aspirational at best.
As craig would say "Next!"