Buying Apartment Complex

BigDog · 03-22-2009, 01:11 PM

Quote:

Originally Posted by Heinzftw

Hate on me or not. I am a communications major, and definitely have a good life ahead of me. Thanks to all for the advice

in that case

make sure you go talk to a fucking grizzly bear when you go tie a fucking knot in the woods

fobunited · 03-22-2009, 01:11 PM

Let me get this straight... you started your IRA and your 401k 3 years ago and you've lost 40k? I mean, the max contribution for an IRA is 5k x 3 = 15k. Give or take a couple thousand depending on what you invested in.... I doubt you get paid that much, but the maximum you can contribute to a 401k depending on your pay is 16.5k x 3 is 49.5k give or take a couple thousand.

Essentially, giving you a HUGE benefit of the doubt, the maximum amount you could have in your IRAs and 401ks would be 64.5k. That's a HUGE stretch considering only people making 165k+ a year would be able to contribute that much. Also, your parents would have to open a custodial IRA for you if you just turned 18 this year. Sorry, your numbers don't add up. I call BS.

Heinzftw · 03-22-2009, 03:42 PM

Quote:

Originally Posted by fobunited

Let me get this straight... you started your IRA and your 401k 3 years ago and you've lost 40k? I mean, the max contribution for an IRA is 5k x 3 = 15k. Give or take a couple thousand depending on what you invested in.... I doubt you get paid that much, but the maximum you can contribute to a 401k depending on your pay is 16.5k x 3 is 49.5k give or take a couple thousand.

Essentially, giving you a HUGE benefit of the doubt, the maximum amount you could have in your IRAs and 401ks would be 64.5k. That's a HUGE stretch considering only people making 165k+ a year would be able to contribute that much. Also, your parents would have to open a custodial IRA for you if you just turned 18 this year. Sorry, your numbers don't add up. I call BS.

The 40k I have lost was my parents money in my college fund. Which was ALL tied up in stocks. Fair enough?

yomama69 · 03-22-2009, 03:59 PM

Quote:

Originally Posted by Heinzftw

The 40k I have lost was my parents money in my college fund. Which was ALL tied up in stocks. Fair enough?

You don't have shit. You're just another kid frontin'. Don't even drive a BMW? Why are you here? Go play with the other kids on the Vtech forums. Got stickers?

MisterSkiMask · 03-22-2009, 05:58 PM

Quote:

Originally Posted by yomama69

You don't have shit. You're just another kid frontin'. Don't even drive a BMW? Why are you here? Go play with the other kids on the Vtech forums. Got stickers?

I've never been one to defend anyone online (cuz who cares) but damn, you guys are harsh.

Weather or not the op has really done anything for himself yet, at least he is thinking, which is more then can be said of most 18 year olds.

ps- I would keep that boy scout bs quite, when I see the uniform I think child molester/molested child... either way its not good.

Cab5er · 03-22-2009, 07:41 PM

Quote:

Originally Posted by yomama69

You don't have shit. You're just another kid frontin'. Don't even drive a BMW? Why are you here? Go play with the other kids on the Vtech forums. Got stickers?

Anger management?

Comet · 03-23-2009, 11:23 AM

epic thread

go tie a knot in the woods.. lol

I had to google wtf a toastmaster is... I thought it was some kind of waffle maker.

BForbes · 03-23-2009, 11:43 AM

Its one thing to disagree, but a totally different story to do it in a personal offending way.

Please dont do it.

cougfan335 · 03-23-2009, 07:10 PM

Wow bringing up investing in a REIT on 3/20/2009. I had a couple of RE class profs in college spout about the wonders of REITs, bet they aren't doing that any more. I would suspect they wouldn't even mention a REIT in the present tense.

cougfan335 · 03-23-2009, 07:14 PM

What is with pretty much everyone misunderstanding the OP. I read it immediately as his parents lost crap loads of cash, some of which was supposed to score him an education. Now he wants to invest/suggest some ideas for positive cash flow in real estate investment. Duplex sounds like a good idea, easier to sell in the end too.

03-22-2009, 01:11 PM	#24
fobunited Private First Class 17 Rep 181 Posts Drives: 2007 335i, 2011 550i Join Date: Mar 2007 Location: Folsom iTrader: (1)	Let me get this straight... you started your IRA and your 401k 3 years ago and you've lost 40k? I mean, the max contribution for an IRA is 5k x 3 = 15k. Give or take a couple thousand depending on what you invested in.... I doubt you get paid that much, but the maximum you can contribute to a 401k depending on your pay is 16.5k x 3 is 49.5k give or take a couple thousand. Essentially, giving you a HUGE benefit of the doubt, the maximum amount you could have in your IRAs and 401ks would be 64.5k. That's a HUGE stretch considering only people making 165k+ a year would be able to contribute that much. Also, your parents would have to open a custodial IRA for you if you just turned 18 this year. Sorry, your numbers don't add up. I call BS.
	Appreciate 0 Quote

03-23-2009, 11:23 AM	#29
Comet Troll Harder 411 Rep 596 Posts Drives: 997 GT3, 997 4 GTS, X6M Join Date: May 2007 Location: Montreal, Beirut iTrader: (0) Garage List 2011 Porsche GT3 [8.00] 2012 Porsche 4 GTS [5.34]	epic thread go tie a knot in the woods.. lol I had to google wtf a toastmaster is... I thought it was some kind of waffle maker. __________________
	Appreciate 0 Quote

03-23-2009, 11:43 AM	#30
BForbes Moderator 594 Rep 4,240 Posts Drives: BSM 135i/AW E90 M3 Join Date: Feb 2007 Location: Orlando, FL iTrader: (0)	Its one thing to disagree, but a totally different story to do it in a personal offending way. Please dont do it. __________________ - 04 Honda S2000(gone)
	Appreciate 0 Quote

03-23-2009, 07:10 PM	#31
cougfan335 First Lieutenant 10 Rep 326 Posts Drives: 335i Coupe MT, Montego/Saddle Join Date: Mar 2007 Location: Reno, NV iTrader: (6)	Wow bringing up investing in a REIT on 3/20/2009. I had a couple of RE class profs in college spout about the wonders of REITs, bet they aren't doing that any more. I would suspect they wouldn't even mention a REIT in the present tense. __________________ e92 335i: Montego, Saddle Brown, Burl Walnut, MT, Sport, Prem, CW, PDC, Rear Shade. Mods: JB4, BMS Dual Intake, Cyba Scoops, Beyern Mesh Chrome 19" wheels, 15% F1 tint, LeatherZ weighted shift knob, body color reflectors, Matte black grill with Montego surround, middle lower grill removed, left and right lower grills painted black.
	Appreciate 0 Quote

03-23-2009, 07:14 PM	#32
cougfan335 First Lieutenant 10 Rep 326 Posts Drives: 335i Coupe MT, Montego/Saddle Join Date: Mar 2007 Location: Reno, NV iTrader: (6)	What is with pretty much everyone misunderstanding the OP. I read it immediately as his parents lost crap loads of cash, some of which was supposed to score him an education. Now he wants to invest/suggest some ideas for positive cash flow in real estate investment. Duplex sounds like a good idea, easier to sell in the end too. __________________ e92 335i: Montego, Saddle Brown, Burl Walnut, MT, Sport, Prem, CW, PDC, Rear Shade. Mods: JB4, BMS Dual Intake, Cyba Scoops, Beyern Mesh Chrome 19" wheels, 15% F1 tint, LeatherZ weighted shift knob, body color reflectors, Matte black grill with Montego surround, middle lower grill removed, left and right lower grills painted black.
	Appreciate 0 Quote