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Old 6 Jul 2009, 09:32 (Ref:2496446)   #51
terence
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terence should be qualifying in the top 10 on the gridterence should be qualifying in the top 10 on the grid
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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Old 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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Old 6 Jul 2009, 11:52 (Ref:2496518)   #53
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terence should be qualifying in the top 10 on the gridterence should be qualifying in the top 10 on the grid
But you cant race a house.
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Old 6 Jul 2009, 11:55 (Ref:2496520)   #54
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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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Old 6 Jul 2009, 12:26 (Ref:2496545)   #55
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driftwood has a lot of promise if they can keep it on the circuit!
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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Old 6 Jul 2009, 12:47 (Ref:2496565)   #56
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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.
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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Old 6 Jul 2009, 14:52 (Ref:2496649)   #57
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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?
What about the car and rent the flat out. Or are you so impecunious as to be unable so to do?
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Old 6 Jul 2009, 19:37 (Ref:2496800)   #58
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Alex E should be qualifying in the top 10 on the grid
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 !
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Old 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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Old 6 Jul 2009, 21:05 (Ref:2496863)   #60
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driftwood has a lot of promise if they can keep it on the circuit!
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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Old 6 Jul 2009, 21:12 (Ref:2496870)   #61
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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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Old 7 Jul 2009, 06:34 (Ref:2497028)   #62
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Alex E should be qualifying in the top 10 on the grid
To get income from renting out your house that surely means you have to own 2 houses, the other one to live in ?
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Old 7 Jul 2009, 06:41 (Ref:2497031)   #63
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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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Old 7 Jul 2009, 07:08 (Ref:2497044)   #64
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simon drabble should be qualifying in the top 3 on the gridsimon drabble should be qualifying in the top 3 on the gridsimon drabble should be qualifying in the top 3 on the grid
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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Old 7 Jul 2009, 07:18 (Ref:2497048)   #65
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driftwood has a lot of promise if they can keep it on the circuit!
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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Old 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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Old 7 Jul 2009, 07:39 (Ref:2497059)   #67
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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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Old 7 Jul 2009, 07:47 (Ref:2497061)   #68
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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.
I dunno, I paid £92k for my shop with 2 bed flat above and get £650 a month rent for the flat alone which covers all my shop expenditure and currently with the low mortgage rate I pay a mere £79 a month on the interest only loan on £85k, which i had bought ten at this price!
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Old 7 Jul 2009, 07:49 (Ref:2497062)   #69
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Odd somehow it double posted.
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Old 7 Jul 2009, 08:14 (Ref:2497075)   #70
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I dunno, I paid £92k for my shop with 2 bed flat above and get £650 a month rent for the flat alone which covers all my shop expenditure and currently with the low mortgage rate I pay a mere £79 a month on the interest only loan on £85k, which i had bought ten at this price!
Al, if you bought those premises recently, you did very well. If not, how much would it cost today ? Don't forget too that interest rates can go up. If the rate you're paying goes to 5%, your monthly payments [interest only] will be GBP354... that would leave you with GBP3,000/year. All you need is one major problem - e.g. a boiler replacement and you're all but wiped out. And as we know, rental properties are magnets for problems.
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Old 7 Jul 2009, 14:25 (Ref:2497307)   #71
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driftwood has a lot of promise if they can keep it on the circuit!
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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Old 7 Jul 2009, 14:55 (Ref:2497325)   #72
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Yeah, what was the best lap time at Brands, in the house?
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Old 7 Jul 2009, 15:29 (Ref:2497338)   #73
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driftwood has a lot of promise if they can keep it on the circuit!
someone give that man a slap !
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Old 7 Jul 2009, 16:31 (Ref:2497367)   #74
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Al, if you bought those premises recently, you did very well. If not, how much would it cost today ? Don't forget too that interest rates can go up. If the rate you're paying goes to 5%, your monthly payments [interest only] will be GBP354... that would leave you with GBP3,000/year. All you need is one major problem - e.g. a boiler replacement and you're all but wiped out. And as we know, rental properties are magnets for problems.
I bought it about 12 years ago and was a lease holder at the time and the old girl who owned the place did me a deal. I turned down 290k for the whole premises about 5 or 6 years ago and I would think its sneaking slowly back up and beyond that now as a shop with large yard with vehicular access and parking for 5 or 6 cars and flat above is very hard to find now as most have been separated long ago. I rewired, plumbed and reboilered the flat about 2.5 years ago so its all hunky dory and anyhow its all on the books so goes against me tax including the mortgage! Anyhow I can do plumbing and electrics myself so no problem, just need to get it checked off when finished. I completely rewired and replumbed the rear shop when I did an extension on it and its perfect. Still no good around Brands though!
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Old 7 Jul 2009, 17:15 (Ref:2497391)   #75
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Moosehead should be qualifying in the top 10 on the grid
Talk about going off topic
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