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      07-14-2013, 11:31 PM   #111
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      07-14-2013, 11:37 PM   #112
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So...this thread got hijacked. To the OP, I suggest you leave town again, but disconnect the brakes this time. Collect on insurance.
I don't think OP had voluntary manslaughter in mind when it comes to punishment for driving his M3.

I don't think asking advice here is the best thing to do. We just don't know enough personal info about you and your roommate to make any reasonable recommendations. You could be best friends with him. You could have done the same to him in the past. You might not put much weight on someone else driving your car, especially when you were cool enough to leave the keys around. Maybe you owe him rent, utilities, bills etc. Who knows? BUT are we 100% sure that your roommate is the total douche and you had nothing to do with this? Think about it bro.

Honestly, its just a car. If you can actually charge him exactly for the x amount of miles he drove then you probably shouldn't be driving an M3. I'd say forgive him, let it slide and have him owe you one down the road.

"Hey I see that you're driving this nice brand new "luxury/sports" car now, remember the time you took my M3 out for a joyride? Im gonna need this for a week. lol."
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      07-15-2013, 11:03 AM   #113
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because any money spent on renovations is a waste on a rented space.

Maybe I think differently, but I want my own space where I can do whatever the hell I want with it.
First thing I do when I move in anywhere is tear the bathroom apart and redo it.
You need to rent places with nicer bathrooms.

Mine has a nice radiant floor, a lovely dual all Italian tile shower with a seat and large sliding glass doors, Grohe fixtures, a Jacuzzi, in-wall speakers, and LCDs in transparent vanities.

A little over the top for my personal tastes, but would cost me big money to reproduce. Plus who has time to remodel a bathroom?
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      07-15-2013, 01:44 PM   #114
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Houses can be an instant high yielding return on investment depending on where you buy and what you do with the property. Purchase a property for less than it costs to build, and purchase it FHA. Buy as much house as you can with as little down as possible, preferably 4 or more bedrooms and at least 2 bathrooms, then rent out the rooms individually. You will collect more than your mortgage+prop tax, insurance (homeowner's Live in one of the rooms& mortgage).

All of the above is possible not taking into account appreciation.

It is possible to see instant gains, but in only select cities in America.
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      07-15-2013, 03:28 PM   #115
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What is this crap? I hope you're being sarcastic. I'm 25 and just signed a closed on my first house in a highly desirable area. Maybe I should pay someone else's mortgage instead of ensuring I have a roof over my head and my own home to be proud of and blow my money on depreciating assets!! Yippie!!!
No, I am not being sarcastic. I am turning 26 in 16 days and I am sure I have enough money to buy your house cash. I was stating the point I would not want my friends living with me if I have my own house and it would be horrible to come to an empty house after work. Finally, if you live where I live now, you would not want to move. Santana row for the people that know. It comes to preferences in the end but I have not come across any mid twenties kid who makes 6 figure and chooses to live alone.

Last edited by badazzm; 07-15-2013 at 03:35 PM.
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      07-15-2013, 03:37 PM   #116
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No, I am not being sarcastic. I am turning 26 in 16 days and I am sure I have enough money to buy your house cash. I was stating the point that most of the kid's mid twenties do not prefer to buy a house because they do want to deal with house related problems. I would not want my friends living with me if I have my own house and it would be horrible to come to an empty house after work. Finally, if you live where I live now, you would not want to move. Santana row for the people that know. It comes to preferences in the end but I have not come across any mid twenties kid who makes 6 figure and chooses to live alone.
If you have 309k to buy my house in cash at 26, then I'm impressed. I was only able to put 60k downpayment. It sounds like you know what you're doing so keep acquiring that currency.
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      07-15-2013, 03:52 PM   #117
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If you have 309k to buy my house in cash at 26, then I'm impressed. I was only able to put 60k downpayment. It sounds like you know what you're doing so keep acquiring that currency.
Yep I sure do. Not all mine though. I have $167k of my own and a very good chunk of my grandmother's trust which is invested in Australia currently. HSBC is paying 11.5-14% interest on savings account with $500k and up portfolios. I invested $11,000 of pizza delivery boy earned money into apple when it was $84.14 in Feb 2009. I sold it at $702.17 last year in Sept getting back a good chunk. Working for the past three years I have been able to save $30-$35k a year. Apple was pure luck and grandma's money is inherited. I am not super smart and don't care about investing and all. I like to work and party. Would never live alone unless I am married.
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      07-15-2013, 04:12 PM   #118
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      07-15-2013, 04:17 PM   #119
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Quote:
Originally Posted by badazzm
Quote:
Originally Posted by Kwando View Post
If you have 309k to buy my house in cash at 26, then I'm impressed. I was only able to put 60k downpayment. It sounds like you know what you're doing so keep acquiring that currency.
Yep I sure do. Not all mine though. I have $167k of my own and a very good chunk of my grandmother's trust which is invested in Australia currently. HSBC is paying 11.5-14% interest on savings account with $500k and up portfolios. I invested $11,000 of pizza delivery boy earned money into apple when it was $84.14 in Feb 2009. I sold it at $702.17 last year in Sept getting back a good chunk. Working for the past three years I have been able to save $30-$35k a year. Apple was pure luck and grandma's money is inherited. I am not super smart and don't care about investing and all. I like to work and party. Would never live alone unless I am married.
11.5-14% interest on a savings account? Bullshit. I don't care how much you have invested.
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      07-15-2013, 04:21 PM   #120
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11.5-14% interest on a savings account? Bullshit. I don't care how much you have invested.
Australia is giving 11.5-14%, Singapore is giving 9-11% and India is 8-10%. Go to your local HSBC and find out before typing ignorant responses.
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      07-15-2013, 04:33 PM   #121
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Off-topic but for people who want to make decent money in the future 1-2 years, send money to India. $1 = Rs.60 right now. Transfer $100K right now and it will be 6 million Indian rupees. Indian currency usually stays at $1 = Rs 45. Once it goes back to the usual, transfer the money back and you just made $33k profit. And it will happen soon once the new budget passes. I am waiting for it to go to Rs. 65-70 and then will transfer a good chunk. There will be a lot of new millionaires once the currency goes back to usual.
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      07-15-2013, 04:35 PM   #122
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I wish I was born with a silver spoon in my mouth
Gotta love old money
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      07-15-2013, 05:25 PM   #123
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Australia is giving 11.5-14%, Singapore is giving 9-11% and India is 8-10%. Go to your local HSBC and find out before typing ignorant responses.
I just checked.

HSBC Australia is giving 3.15%

I found an Indian bank called "Mauritius" that gives 3.65%.

I did some more digging and found an article that talks about an 8% savings account for HSBC, but there were severe limitations -

When you scour the market and look at what’s available, the highest rates are available on regular savings accounts. HSBC and First Direct are both offering rates of 8.00 per cent - impressive when you consider the average no notice account is paying just 0.31 per cent according to the Bank of England.

However, the reason why banks and building societies are able to offer higher rates on regular savers is because of the way these accounts work. The rate tends to be fixed for a 12 months after which the account matures and you will move your money elsewhere.

During the 12-month term you must pay money into the account every month and you can’t usually access your savings until maturity. The amount you can pay in is also capped, restricting how much you can save. It is for these reasons that regular savers often pay higher rates of interest than other savings accounts.

The maximum you can deposit each month is usually £250, although some accounts allow up to £300. As a result, while regular savings accounts are great for those wanting to get into the savings habit, existing savers or individuals with a large amount of money they’re looking to invest may find that they’re not quite as attractive as they initially appear.

After all, the only money you’ll earn the full annual rate of interest on is that paid in in month one. The money you deposit in the final month will earn just one twelfth of it. Consequently, the amount of interest earned over the 12-month term may be less than you were expecting.

Read more: http://www.thisismoney.co.uk/money/s...#ixzz2Z9hRyC88
Follow us: MailOnline on Twitter | DailyMail on Facebook

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The bolded part is the most relevant to me. Yeah 8% sounds great until you realize the limit is absurdly low.

If there was a low risk way of accruing 11-14% on $500k+ investments, everybody would be doing it. If it sounds too good to be true, it probably isn't true.
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      07-15-2013, 05:28 PM   #124
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Most savings accounts are hovering around 1% -

http://www.consumerismcommentary.com...ings-accounts/
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      07-15-2013, 05:32 PM   #125
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Originally Posted by NemesisX View Post
I just checked.

HSBC Australia is giving 3.15%

I found an Indian bank called "Mauritius" that gives 3.65%.

I did some more digging and found an article that talks about an 8% savings account for HSBC, but there were severe limitations -

When you scour the market and look at what’s available, the highest rates are available on regular savings accounts. HSBC and First Direct are both offering rates of 8.00 per cent - impressive when you consider the average no notice account is paying just 0.31 per cent according to the Bank of England.

However, the reason why banks and building societies are able to offer higher rates on regular savers is because of the way these accounts work. The rate tends to be fixed for a 12 months after which the account matures and you will move your money elsewhere.

During the 12-month term you must pay money into the account every month and you can’t usually access your savings until maturity. The amount you can pay in is also capped, restricting how much you can save. It is for these reasons that regular savers often pay higher rates of interest than other savings accounts.

The maximum you can deposit each month is usually £250, although some accounts allow up to £300. As a result, while regular savings accounts are great for those wanting to get into the savings habit, existing savers or individuals with a large amount of money they’re looking to invest may find that they’re not quite as attractive as they initially appear.

After all, the only money you’ll earn the full annual rate of interest on is that paid in in month one. The money you deposit in the final month will earn just one twelfth of it. Consequently, the amount of interest earned over the 12-month term may be less than you were expecting.

Read more: http://www.thisismoney.co.uk/money/s...#ixzz2Z9hRyC88
Follow us: MailOnline on Twitter | DailyMail on Facebook

------------------------------------------------------------------------------------

The bolded part is the most relevant to me. Yeah 8% sounds great until you realize the limit is absurdly low.

If there was a low risk way of accruing 11-14% on $500k+ investments, everybody would be doing it. If it sounds too good to be true, it probably isn't true.
Americans bank are hovering around 1% and checking online won't do you any good dude. Can you please go into an HSBC and show them you actually have a $500k portfolio? Talk to me then. Like I said, I don't care and don't about investments much but that is where my grandma's trust is and earning that much. Me and other trustees get an 1099-INT end of the year which goes on our tax returns. Sorry you had to type up an essay for nothing.
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      07-15-2013, 05:38 PM   #126
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Most savings accounts are hovering around 1% -

http://www.consumerismcommentary.com...ings-accounts/
Why do you think IRS wants you to report your accounts if you have over $10k in foreign accounts? Because shit tons of people are making ridiculous amounts on savings account via HSBC and not reporting the taxable income. That is why IRS did a bust on HSBC and HSBC was forced to give up names for many clients. I am a CPA and have various clients with money in India, Singapore and Australia. Interest income is the only income they have.
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      07-15-2013, 05:39 PM   #127
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Americans bank are hovering around 1% and checking online won't do you any good dude. Can you please go into an HSBC and show them you actually have a $500k portfolio? Talk to me then. Like I said, I don't care and don't about investments much but that is where my trust is and earning that much. I get an 1099-INT end of the year which goes on my tax return. Sorry you had to type up an essay for nothing.
I didn't type up an essay. Most of the post is a copy/paste from that article.

And honestly I will call them up because 11-14% is absolutely ridiculous.

You sound way too blase with your money, imo. If I were you I'd check to make sure that you're really earning a guaranteed 11-14% in your savings account, because if that's true you're making a better return on your money than the top hedge fund managers on earth.

Warren Buffet, for all his expertise, doesn't average that kind of return per year.
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      07-15-2013, 05:46 PM   #128
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It's curious that HSBC Australia would write one thing on their website but tell people something entirely different in person -

HSBC Australia Savings Account

The following rates apply to the HSBC 'Serious Saver' Product and you will get the following interest rate for every month you do not withdraw. However interest will not be payable for any month where you have made a withdrawal. Deposit amount range - $1 - $1,000,000

APY = 3.15%

According to HSBC Australia's website, they're giving 3.15% on any deposit between $1 and $1 million.


But, I'll take your word for it and give them a call anyway when I get the chance.
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      07-15-2013, 05:47 PM   #129
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I didn't type up an essay. Most of the post is a copy/paste from that article.

And honestly I will call them up because 11-14% is absolutely ridiculous.

You sound way too blase with your money, imo. If I were you I'd check to make sure that you're really earning a guaranteed 11-14% in your savings account, because if that's true you're making a better return on your money than the top hedge fund managers on earth.

Warren Buffet, for all his expertise, doesn't average that kind of return per year.
I don't know what warren buffet earns and I am damm sure neither do you. His doesn't put his personal tax return out for people to look at. You are right about me not caring too much about my money in investing wise but if you were local, I would show you my last year's 1099-INT from HSBC. It is def. earning 11.5%.
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      07-15-2013, 05:53 PM   #130
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I don't know what warren buffet earns and I am damm sure neither do you. His doesn't put his personal tax return out for people to look at. You are right about me not caring too much about my money in investing wise but if you were local, I would show you my last year's 1099-INT from HSBC. It is def. earning 11.5%.
You don't have to post your personal return. All you need to post is the little snippet in the fine print that says you're guaranteed 11.5% (or 11-14%, or whatever it says).

If you just posted a picture of a $500k account that accrued 11.5% in interest one year, that doesn't tell me anything. I don't care about that. That's what your 1099-INT would show me, but that doesn't tell me anything.

I only care about the part that talks about the guaranteed 11-14% APY. And I'm just curious as to why HSBC Australia's online account says something completely different for investments in the $1 - $1,000,000 range.
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      07-15-2013, 05:57 PM   #131
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You don't have to post your personal return. All you need to post is the little snippet in the fine print that says you're guaranteed 11.5% (or 11-14%, or whatever it says).

If you just posted a picture of a $500k account that accrued 11.5% in interest one year, that doesn't tell me anything. I don't care about that. That's what your 1099-INT would show me, but that doesn't tell me anything.

I only care about the part that talks about the guaranteed 11-14% APY. And I'm just curious as to why HSBC Australia's online account says something completely different for investments in the $1 - $1,000,000 range.
Lol I would never post anything online showing my money. Dumbest thing anyone can do. I don't have any part where it says I am getting this much. I did the math by dividing my percentage of the trust by how much I got. If you were here and had a $500k portfolio, I would take you my local HSBC lady and you could argue with her about whatever you want.
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      07-15-2013, 06:00 PM   #132
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It could also be true that they don't offer it anymore after the IRS bust or grandma's trust has come up this to percentage for being a very old trust.
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