Updated about 9 years ago on . Most recent reply
Liabilities vs Assets
This month was a good month... My girlfriend and I decided to get a puppy.(pic below) We rented out two new properties, got one under contract in a new area about 45 mins from where I live,(which is out of my norm, most of the houses we buy are within 5 mile radius of where we live) So here is where the title comes in.... My birthday is coming up on Dec 5th, and after years of working my (8am-5pm) job and investing in real estate, I decided it was time for me to treat my self to a new work truck. Sadly it was time to retire the 99 Dodge Ram 2500. I've been on the search for over six months but never pulled the trigger until yesterday. Although it was time to treat my self with this new truck, I realize its a HUGE liability for me. After only owning it for two days i've already been rear ended (pic below). This is were the liability comes in, If this was my 99 Ram, I would have said just leave it. But now i feel the need to spend more money to get it repaired since its a newer truck.
Basically if you have a 1999 Ram or a 2015 Ram, they both would get the job done just at different cost. The money from this could have easily went towards a investment(house) that would bring a long term income.