I'm 26 years old, currently living with my parents. I make

>>1017857

Paying off the car faster is the best way to 'make' money, in the long run.

For starters you could pay off that fucking car. You have $25,800 more to pay? Are you retarded? What is the principle?

>>1017857

I stopped reading after you said you're paying off your car in a 5 year duration at $430/m.

Fucking idiot, don't go broke trying to look rich.

>>1017879
The length of the loan was rounded up, I don't know off the top of my head how much is left on it probably more like 16k with a rate somewhere around 4%. Can't remember off the top of my head. The payments come out automatically. I do plan on paying it off early but I felt there might be better ways to invest it

>>1017857
the point of flipping houses is to repair as fast as possible and have it back on the market in the least amount of time. this is difficult to do unless it's your full time job and even then you need more than one person to help out.

also, in the US the seller gets fucked pretty hard in terms of fees. you have to pay for both the agent's fees (of course you can become an agent yourself so then you'll list your own properties,) and good chunk of the closing costs are covered by the seller. the seller also prorates the property tax so the longer you hold onto the house the more you'll have to pay. not to mention that depending on the time of the year it may be very difficult to move property and the prices fluctuate.

i don't make as much as you so i took a different approach and tried to buy cheap condos, pretty them up a bit, and rent them out. the first one i got really cheap as it was a foreclosure, got it looking nice, and found tenants pretty easy. bought my second one over the summer in a complex that is professionally managed (over 100 units in the complex.) the condo has been sitting empty for over 4 months and i can't find a tenant. this is in part due to now being the shittiest time to find tenants, but also dealing with a property management company and getting them to approve tenants is a hassle. the first tenant has also been getting shittier in terms of rent, so this isn't without headaches either.

if i had the money i would buy luxury condos and rent them out. you're dealing with an entirely different class of people then. if they fuck something up they have no reservations at throwing money to make the problem go away.

>>1017857
>I have $430 a month car payment to make with like 5 years to pay it off.
What...what the hell did you fucking buy?
Why the hell did you buy it?

Why are you thinking of investing when you have that large of a debt burden hanging over you?

How is anyone this dumb?

>>1017915
Firstly, the 430 a month is the only kind of payment on top of like 95 a month for insurance and 60 for cell phone. That's all of my expenses. I plan on paying the car off early. If I do overtime at work or I've even thought about getting a shitty part time job in the winter and taking everything o make and paying the car off every week, it doesn't matter it'll get paid off no problem. Can't remember if it was a 5 or 6 year loan though I only bought it 17 months ago lol and I can't remember the length. Apr is ridiculously low as well. Less than 4 I'm pretty sure

>>1017857
>>1017925
Take the 20k and pay off that loan right now. If you don't then you pay 24k over 5 years.

Bam, you just made a 25% or more return over 5 years by not being a dumbass. That's a better guaranteed return than any investment in this volatile market. I'm not kidding in any way.

>>1017857
Try fucking around in the stock market. If you don't already have a long term investment plan, look into a DRIP investing. You buy stock cheap and the money you make on it every month is put back into buying more shares and eventually you profit. Short term try ETFs, buy low sell high. If this isn't your type of fun do the house flipping or condo renting like >>1017910

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>>1017857

>Buying a new car

For what fucking reason? You don't know how to change an oil filter or timing belt on a second hand car?

Absolutely disgusting.

Your car is basically depreciating in value faster than you are able to service the debt, meaning you get robbed of equity, negative equity.

You might as well be smoking crack.

>>1017928

He's right, numbers don't lie. Making 25% by avoiding the interest on that debt is way beyond what even the most successful people in the stock markets hope on making.

Op stand and deliver.

Tell us what kind of car you bought.

Inb4 lime green dodge charger

>>1017953
>inb4 I bought a chevy volt it's good on gas guise!