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6 Jul 2009, 09:32 (Ref:2496446) | #51 | ||
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That would depend on the "House" Simon.At the moment most "collectable" cars have not taken much of a hit,as was predicted earlier in another thread,but for how much longer? Bricks and mortar will soon be very much in demand,the market is starting up again,albeit very slowly.Once the bank's are happier with the situation and carry the lending a little further,will that be the time that cars take a bit of a downturn? [God,I wish I knew]
So I dont suppose my estimate of £50k for a scratch built shell ,with all the mods and brackets would be too far out? |
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Living the dream,Chief instruktor and racing on the worlds best circuits-The Nordschleife and Spa.Getting to drive the worlds best cars-someone has to do it, so glad its me. |
6 Jul 2009, 09:58 (Ref:2496461) | #52 | ||
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I will keep my money and faith in me bricks and mortar thanks, you guys spend your 50k renovating a rust bucket. You can only live in a car for so long! :-)
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You can't polish a turd but you sure can sprinkle it with glitter! |
6 Jul 2009, 11:52 (Ref:2496518) | #53 | ||
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But you cant race a house.
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Living the dream,Chief instruktor and racing on the worlds best circuits-The Nordschleife and Spa.Getting to drive the worlds best cars-someone has to do it, so glad its me. |
6 Jul 2009, 11:55 (Ref:2496520) | #54 | ||
The Honourable Mallett
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I dunno Terry, I know of at least one Galaxy that tried to be as big as a house at Spa last year.
Al, whilst living in a car may have its shortcomings, from all the recent threads it would appear that you've been living under yours for most of the season. |
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6 Jul 2009, 12:26 (Ref:2496545) | #55 | |
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yes its a fine line toss of coin £100k race car= extra 2 inches on yer pecker or buy a flat rent it out earn £5k PA in rent plus on average 5% property growth in value and rental income versus car that eats money to run maintain ( i do not include accident damage in my calcs) then i can go to bank borrow another £50k in 2 years time and buy a race car or build 1 from scratch whilst rent covers the loan payments but the 100k racecar is worth what 85k by now or maybe 112k?
guess where my money is? and i have 95kg to push my peckker in with ! |
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6 Jul 2009, 12:47 (Ref:2496565) | #56 | ||
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Ah well you see on my yellow car at least I can do an engine change 99% from up top and literally get under the thing for five minutes to unbolt the quick removable exhaust system such is the pleasure of working on these big old tonker toys. Anyhow I am just building an engine now with a brand new aftermarket crank and am trying a few things like a one way valve on the Accusump, blocking the bypass valve in the oil filter housing and running sans cooler with semi synthetic oil, GM Bowtie heads out the box and quite frankly if this one goes without at least giving me a few races I am either giving up or running in a series where I can dry sump as I have had enough. This engine is going together beautifully and I can turn the whole assembly over without the pushrods operating the valves with about 7 to 10 lbs torque so its nothing to do with the way the things are put together it should run like a sewing machine and would its all about having to run wet sumps on the things!
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You can't polish a turd but you sure can sprinkle it with glitter! |
6 Jul 2009, 14:52 (Ref:2496649) | #57 | |||
The Honourable Mallett
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6 Jul 2009, 19:37 (Ref:2496800) | #58 | |
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Bricks & mortar...not so sure. If you could go back to 1973 with £15,000 in your pocket I fancy investing from the ad`s in the back of Motorsport would be better than an estate agents. Maybe a GT40 & a Cobra ? And have you never had a house that needed money spending on it ?
On the race budgets, in 1973 at lleast they spent all of the budget on the cars, not corpoate entertainment ! Alex |
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6 Jul 2009, 19:56 (Ref:2496812) | #59 | ||
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You could have got at least three Ferrari Dinos for that money...
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Tim Yorath Ecurie Llanfairpwllgwyngyllgogerychwyrndrobwllllantysiliogogogoch Fan of "the sacred monster Christophe Bouchut"... |
6 Jul 2009, 21:05 (Ref:2496863) | #60 | |
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bricks n mortar far better investment than any GT40 or 917
house earn rental income banks will lend against them anyone who thinks a race car is an investment is a fool |
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6 Jul 2009, 21:12 (Ref:2496870) | #61 | ||
The Honourable Mallett
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Good job someone buys them otherwise you'd probably have been playing trians for a hobby over the last few years.
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7 Jul 2009, 06:34 (Ref:2497028) | #62 | |
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To get income from renting out your house that surely means you have to own 2 houses, the other one to live in ?
Alex |
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7 Jul 2009, 06:41 (Ref:2497031) | #63 | ||
The Honourable Mallett
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Alex,
Don't try to apply logic please! Also the buy-to-let market has dried up in the UK. Better to buy a decent race car and enjoy your money. |
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7 Jul 2009, 07:08 (Ref:2497044) | #64 | ||
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buy to let market hasn't just the financing now requires a larger haircut making the return on the capital employed less exciting. I know several people who are quietely picking up flats in central London for rental.
However blocks of flats built purely for investment on brown field sites next to railway lines are very 2007.... |
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Borrowed money is only credit in a bull market - its debt in a bear market |
7 Jul 2009, 07:18 (Ref:2497048) | #65 | |
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now if someone gave me £450k i would be buying property to rent out not race cars
I would come back in 1-2 yeas time and buy the race cars with the rent ive earnt from property or the "profit" in the rising market or even borrow money against property to have some cars/ go racing that way i get best of both worlds |
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7 Jul 2009, 07:26 (Ref:2497053) | #66 | |
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Drifty, have you rented out residential property ? If you have, you'll find that there's very little income to be made on the rent after you've dealt with all the expenses. I've been doing it for 15 years now. Buy-to-let is all about long term capital appreciation.
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7 Jul 2009, 07:39 (Ref:2497059) | #67 | ||
The Honourable Mallett
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Well, I've seen the light. I'll stop racing, buy property. Probably on the disused race tracks.
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7 Jul 2009, 07:47 (Ref:2497061) | #68 | |||
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You can't polish a turd but you sure can sprinkle it with glitter! |
7 Jul 2009, 07:49 (Ref:2497062) | #69 | ||
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Odd somehow it double posted.
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You can't polish a turd but you sure can sprinkle it with glitter! |
7 Jul 2009, 08:14 (Ref:2497075) | #70 | ||
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7 Jul 2009, 14:25 (Ref:2497307) | #71 | |
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yes been renting for over 20 years
i agree it is about capital growth but if you have good condition stock in the first place the outgoings are minimal therefore a "profit" is achievable ( often why i have a tax bill to pay!) but i would not invest my $$ in race cars for the profit that may be achived in 5 10 15 years time my toy cupboard has many cars that will be worth millions in years to come but i would gladly sell them today for cash and buy myself more property classic example 14 years ago i renovated with my father a nice house nice street sold the house £107k he then bought F1 car for X price rebuilt car ready to race 18 months 2 years later total cost £120k today that house is £350k car still worth 120k house rental income would be £8-15k PA since then= no brainer on income alone it coulda bought that friggen f1 car !! |
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7 Jul 2009, 14:55 (Ref:2497325) | #72 | ||
The Honourable Mallett
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Yeah, what was the best lap time at Brands, in the house?
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7 Jul 2009, 15:29 (Ref:2497338) | #73 | |
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someone give that man a slap !
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7 Jul 2009, 16:31 (Ref:2497367) | #74 | |||
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You can't polish a turd but you sure can sprinkle it with glitter! |
7 Jul 2009, 17:15 (Ref:2497391) | #75 | |
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Talk about going off topic
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CSCC Swinging Sixties #128 Red/Black Mustang |
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