Selling House for a Rolex

[jasonsensation]

Originally Posted by Buzzlite

Buy a Rolex from passive income, never buy luxury items from earned money. I wish I figured this out a long time ago.

Does that include house sale

[Buzzlite]

Well yes it would, as long as the house sold for more than it was originally bought for.

But why not rent the house out and save up the rental money and buy Rolex, that's proper passive income and you still have your house in addition to Rolex.

Originally Posted by jasonsensation

Does that include house
sale

[dnpina]

This place is very entertaining

Sent from my Pixel 2 using Tapatalk

[jasonsensation]

Originally Posted by Buzzlite

Well yes it would, as long as the house sold for more than it was originally bought for.

But why not rent the house out and save up the rental money and buy Rolex, that's proper passive income.

ive been told being a landlord is a lot of work and little profit monthly, and im a bouncer, i cant fix things id pay people when things go wrong

also the hassle of tenants not paying, otherwise id love 2 houses

[Buzzlite]

If the property is owned outright, its alot of money even paying the tax. Source your own tenants and you cut out the middleman. Any good lawyer can draft up an agreement that protects you.

Originally Posted by jasonsensation

ive been told being a landlord is a lot of work and little profit monthly

[derekhayden]

Originally Posted by jasonsensation

and then i wouldnt got the discontinued BLNR, as i didnt have the savings, so needed the loan

I wanted the Patek 5726 White dial before it was discontinued but guess what, it was out of my watch savings range so I had to pass....my first thought was never, "hey lets over leverage myself so I can get a watch".
Honestly this post is pretty pointless since we all know you're going to get the watch no matter how many people say it's a bad idea. That being said it's your money so you should do whatever makes you happy. I look forward to the incoming

[ZeGerman11]

Originally Posted by Santiago79

Come on guys, lets be real here. He has the cash so why not use it to buy whatever he wants, does it really matter where the money comes from? I don't think so. Its better than taking a loan to finance "just a watch". It's still an investment when you think about it, The value will not go down anytime soon.
Go for it man and enjoy!

He literally has a loan out right now to finance his current watch, which he explicitly said he would not have been able to purchase otherwise as he did not have adequate savings. This is just funny.

The financially responsible version of this thread would be: “Should I flip my recently acquired GMT and put the profits towards my next home?”

[Feelix]

Originally Posted by jasonsensation

I plan to use 30% of the profit to buy a Daytona

has anyone else ever done this, used house profit to buy a watch/car

Unless your next house will be paid off, I would use the money to pay down your mortgage instead of purchasing the watch.

Remember, watches are fun, not investments.

Frankly, you probably know buying the watch is foolish if you’re asking randoms on a message board for justification.

[kieselguhr]

I would keep the house as capital. Unless it was a liability. In which case I would sell it and get a different house. That’s just my personal preference though. Good luck OP