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Best use for found money?

kkelso

Well-known member
Apr 27, 2003
2,472
28
48
So hypothetically,

Let's say I just returned from a vendor conference where I won some money from several people in what might best be described as an elaborate "bar bet". By the end I netted about 35k in actual cash. All in good fun and no hard feelings - these are people who can afford it.

I now have this lovely pile of cash, undocumented cash. Before I go and create a paper trail for uncle sam by depositing it into my retirement account, I might think to myself "how could I use this to my financial advantage, in a way that 35k pulled out of my savings could not be used?"

What an interesting thought experiment, eh? Your interesting thoughts would be welcome.

Best - KK
 

MuffDiver

No patience
Oct 12, 2001
1,030
650
113
St. Catharines
Live for free for a year or 2 by paying cash for everything and move that money you would have spent into a separate savings account. Then you have free money that does not attract attention.

Buy your groceries cash. Buy a new TV, stereo, phone, laptop, etc. Escorts are cash business. Anything and everything you used to pay for by debit or credit, you pay cash for now.
 

kkelso

Well-known member
Apr 27, 2003
2,472
28
48
Live for free for a year or 2 by paying cash for everything and move that money you would have spent into a separate savings account. Then you have free money that does not attract attention.

Buy your groceries cash. Buy a new TV, stereo, phone, laptop, etc. Escorts are cash business. Anything and everything you used to pay for by debit or credit, you pay cash for now.
Interesting and valid idea Muff. Thanks.
 

Annalise Lane

Sport Sex Specialist
May 24, 2005
231
2
0
a city near you
Renovate your home. New bathroom, finish your basement, maybe refresh of your kitchen.

Will pay dividends when you come to sell it, more than double what you put in, plus youll enjoy it till then.
Renovations do not double your investment EVER, and in fact many people over renovate for the area they live or consumer desire. This aricle illustration shows this but there are many others online.

Paint is a good example, consumer choice and it's variables are personal. Just because the current "in" color is blue doesn't mean someone viewing the home wants white or grey. It's a waste of investment. Unless the seller has over personalized their home then the investment to a neutral color would be wise, but it won't increase your listed price by the same amount as the cost to paint. It would only reduce the chance of it not being a depreciation.


While tile, ceramic verses natural stone is practical, with a difference in investment. Both achieve an increase in sale price, either are equal to ROI.

http://www.moneysmartsblog.com/how-to-determine-the-value-of-a-house-renovation/
 

godfazha

Member
Nov 4, 2017
222
4
18
So hypothetically,

Let's say I just returned from a vendor conference where I won some money from several people in what might best be described as an elaborate "bar bet". By the end I netted about 35k in actual cash. All in good fun and no hard feelings - these are people who can afford it.

I now have this lovely pile of cash, undocumented cash. Before I go and create a paper trail for uncle sam by depositing it into my retirement account, I might think to myself "how could I use this to my financial advantage, in a way that 35k pulled out of my savings could not be used?"

What an interesting thought experiment, eh? Your interesting thoughts would be welcome.

Best - KK
Give some to charity?
 

Butler1000

Well-known member
Oct 31, 2011
28,707
3,403
113
Renovate your home. New bathroom, finish your basement, maybe refresh of your kitchen.

Will pay dividends when you come to sell it, more than double what you put in, plus youll enjoy it till then.
Not even close. Certain upgrades like a newer roof or furnace will help but anything cosmetic won't. You can't predict a buyers taste. They will look at the SPACE and what they can do with it. Not what you have done with it.
 

Butler1000

Well-known member
Oct 31, 2011
28,707
3,403
113
As to the op take 1000 per month and use as entertainment expense. Whether hobby or say golf, dinners, weekend away that's your money.

And if you want to feel more responsible and can afford it add an extra 1000 per month to the retirement fund. Do direct deposit so you dont miss it. And after three years i bet you wiil be making more money and still wont miss it. But will enjoy it in your twilight years.
 

Annalise Lane

Sport Sex Specialist
May 24, 2005
231
2
0
a city near you
I'm not sure where I mentioned paint as the renovation I was talking about. Paint is cheap and absolutely subjective to what is in style and owners personal preferences.

I know a thing or two about this. I have made a LOT of money this way. A lot a lot.

Taking $35K to a shitty kitchen will definitely land you more than $70K on an asking price of a home in Toronto. Same can be said finishing a basement or adding another bedroom and bathroom in an attic. You can do each of those things, as long as no structural changed required, for around that amount. Even if the purchaser is planning on demoing the home, it shows that you cared for it and therefore they will see more value and tend less to lowball you on their offer. Maybe you don't live in our city, but homes are going up in value more than that per 6 months just sitting there, so sprucing them up slightly will certainly help expedite that process.

Absolutely the best investment in the city of Toronto is real estate, even with the new laws and stalling of the bubble, which has proven to be over now. Homes are still listing and selling for inflated values, so if turnover is what you are after thats where to look.
I think I said, as an example: paint is the common thing people do and except to gain the 2500 back in increased value.

Basements do NOT give YOU ROI by double, I dont care where you live.
Bathrooms YES, even adding one yes.
Adding a bedroom to a 3 bedroom, does not increase your value by double on investment. Infact it can be a deduction.

My guess about Toronto would be that people are bidding high is because there is no more land to build on. When land is limited, the value of it increases. There's only one way to build, GO UP.
 

Annalise Lane

Sport Sex Specialist
May 24, 2005
231
2
0
a city near you
Ok, I guess I got lucky then with my choices.

Ive done each of those, to a few houses, of my own, and more than quadrupled my investment. Returns in the millions.

But like I said, it is probably not because it was smart, had to be lucky.
Passive Aggressive behaviour ? - Sharing ideas and opinions and experiences, is the purpose for these forums. We have both shared and we have had different experiences and success.

Thank you for yours
 

Samranchoi

Asian Picasso
Jan 11, 2014
2,609
696
113
Passive Aggressive behaviour ? - Sharing ideas and opinions and experiences, is the purpose for these forums. We have both shared and we have had different experiences and success.

Thank you for yours
Welcome to the land of make believe, where if what others said were actual facts, everyone would be a millionaire, lol.
 

rhuarc29

Well-known member
Apr 15, 2009
9,590
1,193
113
Well, if you're married, that's the perfect hobby fund for the next several years.
Even if you aren't married, it's a useful hobby fund.
 

kkelso

Well-known member
Apr 27, 2003
2,472
28
48
Well, if you're married, that's the perfect hobby fund for the next several years.
Even if you aren't married, it's a useful hobby fund.
Yes, I'm funding my SB with it. Surprisingly there's not that much I use cash for.

KK
 

HEYHEY

Well-known member
Nov 25, 2005
2,511
574
113
I think I said, as an example: paint is the common thing people do and except to gain the 2500 back in increased value.

Basements do NOT give YOU ROI by double, I dont care where you live.
Bathrooms YES, even adding one yes.
Adding a bedroom to a 3 bedroom, does not increase your value by double on investment. Infact it can be a deduction.

My guess about Toronto would be that people are bidding high is because there is no more land to build on. When land is limited, the value of it increases. There's only one way to build, GO UP.
People in Toronto keep bidding up because they're fucken retarded. Record low interest rates and prices through the roof = everyone wanting in on the action. Herd mentality, plus ignorant people who think that some paper mache walls are somehow worth a million bucks.


As for the op do whatever you want with it that makes you happy.

I;d take the cash and go on a vacation, put some away, buy a couple toys and move on.
 

Smallcock

Active member
Jun 5, 2009
13,703
21
38
What did you decide to do?
 
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