If you were to sell your Porsche for big money, how would you invest the money?

[Rick Lee]

Assume I don't want another toy car for a while, but would like to sink my car funds into starting a business or investing in something that will supplement, if not become, my main income. Say the 993 market hits $50k or more, what to do with that money to really make it work for me?

[look 171]

50K is not enough to do much. at 150k, there maybe some room to play.

[911dean]

The plan for me is to sell mine and pay cash for a 2016 Toyota Tacoma and keep it for 15 years as a daily driver. I had a company vehicle for the past 20+ years and with the new career I no longer have that. Not exactly an investment but a solid plan.

[Nostril Cheese]

Buy a faster Porsche.

[Norm K]

I'm actually considering selling my 930 and buying a 996tt, as prices on the former are very strong and on the latter remain somewhat depressed.

[Rick Lee]

I don't want another car for a while. I get as much a rush from my bike as I ever did in a Porsche at the track and the bike is way, way faster and cheaper. I'd like to find a way to finally work for myself. I know I can't buy a bldg. or a business with $50k, but how to make it work for me. I think the closest thing to owning my own business I can get there is becoming a Snap-On dealer and I don't want to become a lender and collections guy, which that job entails.

[WPOZZZ]

Originally Posted by nkowi

I'm actually considering selling my 930 and buying a 996tt, as prices on the former are very strong and on the latter remain somewhat depressed.

I've had a few unsolicited offers for an obscene amount of money for my 930, and it is not for sale. I may sell her later and if I do, I'll buy a Ferrari to putter about and dump the rest into more real estate. If I want fast, I'll drive the 996tt.

[fintstone]

stock fund

[Z-man]

Originally Posted by Nostril Cheese

Buy a faster Porsche.

I think he's asking about a money making investment!

Real Estate. There's only so much dirt to go around...

-Z

[MT930]

Originally Posted by nkowi

I'm actually considering selling my 930 and buying a 996tt, as prices on the former are very strong and on the latter remain somewhat depressed.

Bingo +1

$40-$50 K P-Car of some type, put the rest in to something Interesting.

[slodave]

2nd trust deeds, but the safer ones. Vanguard type account and invest a little in investment grade funds and some in "junk bonds".

[sc_rufctr]

Originally Posted by look 171

50K is not enough to do much. at 150k, there maybe some room to play.

50k is enough for a deposit on a rental property and that's the only thing I spend the money on.

[look 171]

Originally Posted by WPOZZZ

I've had a few unsolicited offers for an obscene amount of money for my 930, and it is not for sale. I may sell her later and if I do, I'll buy a Ferrari to putter about and dump the rest into more real estate. If I want fast, I'll drive the 996tt.

What are those offers like may I ask? I am not selling my 930, but have lost touch with market pricing. I get little notes on my windshield sometimes. I called one back just to see what the crazies want. The offer was 15000, CASH

[look 171]

Originally Posted by sc_rufctr

50k is enough for a deposit on a rental property and that's the only thing I spend the money on.

I could not agree more. Now he's gotta qualify and really do some work like screening and collecting and repairs.

[look 171]

Rick, can 50K get you good chunk of down payment on a condo in AZ somewhere close by home? If Condos are trading at 110-120k, with 1000 bucks in rent you just might break even with today's interest. I am start to like the condo when it comes to rental. I learn from an old guy that has a bunch of them. His big thing is that you are basically hands off on the repairs and maintenance. You just have to worry about the inside and nothing on the outside. No tripping and falling, rot on the walls and leaks. Association takes care of that. I am sure you already knew that.

[Tobra]

Hookers and blow, is it hookers and blow?

[porsche4life]

Originally Posted by look 171

Rick, can 50K get you good chunk of down payment on a condo in AZ somewhere close by home? If Condos are trading at 110-120k, with 1000 bucks in rent you just might break even with today's interest. I am start to like the condo when it comes to rental. I learn from an old guy that has a bunch of them. His big thing is that you are basically hands off on the repairs and maintenance. You just have to worry about the inside and nothing on the outside. No tripping and falling, rot on the walls and leaks. Association takes care of that. I am sure you already knew that.

Rick we could certainly find a nice rental condo here in AZ for 110k -120k... I've seen a few out in the west valley between 50 and 60k!

Give me a call and I can set you up to at least browse.

[look 171]

sid, 50-60? What's the rent like in those places?

[WPOZZZ]

Originally Posted by look 171

What are those offers like may I ask? I am not selling my 930, but have lost touch with market pricing. I get little notes on my windshield sometimes. I called one back just to see what the crazies want. The offer was 15000, CASH

Offers have been up to $165k. Never asked if it was cash or financed, but it didn't matter as the car was not for sale.

[porsche4life]

Really depends on the area, but I did a quick search and there are a few scattered all over the valley. I just pulled up one place in a not bad area that you could buy for 70k and should rent in the 750 to 1000 range?

Keep in mind I'm not a rental guy so I'd need to do more homework but a quick search looks promising.