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post #131 of 139 (permalink) Old 03-12-2008, 10:34 PM
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Very good bear! I am impressed!!
I concur that is an excellent rate, thus my inquisitiveness on it
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post #132 of 139 (permalink) Old 03-12-2008, 10:43 PM
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Actually, I was most impressed that bear knows enough to leverage life to the max rather than pay "up-front" for everything! Most people never figure that out.

Don't believe everything you think
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post #133 of 139 (permalink) Old 03-13-2008, 08:42 PM Thread Starter
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Actually, I was most impressed that bear knows enough to leverage life to the max rather than pay "up-front" for everything! Most people never figure that out.
Well, thank you. That Economics degree thingie does pay off every once in a while.

I set up a meeting with my investment broker, the erstwhile mortgage broker and basically worked them to get the rate. They knew that with the CR, down payment and what I had available that I could go anywhere [and take all my toys with me]. That helps.

Always helps to let the money work for you. Now I am looking for a place to park a bit. Heading to NYC next week and Atlanta the week afterwards to talk to a couple of people. This should be fun.

I intended to set up a carbon fibre mold business which would allow manufacturing and custom work for everything from automotive to cycles to custom work but CF has gone up 8X in price in the past year for the good stuff. So that is on the back burner. Plus, I am not excited about huffing the necessary chemicals for all the processes. [the buzz might be ok but the long term effects...]

McBear,
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Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
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post #134 of 139 (permalink) Old 03-14-2008, 06:51 AM
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Well then McBear
Borrow money or sell shares ( mostly HSBC )
which is the best bet?
I reckon to sell the shares even at a relatively poor price
As the cost of borrowing is horrendous ( and would be a new exp. for us )
Claw back inside less than 5 years and buy shares again when reasonably priced.
Cheers
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post #135 of 139 (permalink) Old 03-14-2008, 11:37 AM Thread Starter
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Well then McBear
Borrow money or sell shares ( mostly HSBC )
which is the best bet?
I reckon to sell the shares even at a relatively poor price
As the cost of borrowing is horrendous ( and would be a new exp. for us )
Claw back inside less than 5 years and buy shares again when reasonably priced.
Cheers
Hard to tell when th HSBC shares will go back up. IF the market can get some footing [the financial sector gets bailed out be US and UK governments sufficiently] then they have a chance to rebound to where they were [which would bump them up 15-25%]. But if it is a long term recession then the value could go down further. If you plan on keeping the stock years, keep it. It will eventually get back up [unless it goes the Northern Rock or Bear Sterns route] but money is not real expensive right now if your credit is VERY GOOD and you borrow short term.

I always hate selling a stock when it is crashed out. It adds long term frustration to the deal.

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post #136 of 139 (permalink) Old 03-15-2008, 04:36 AM
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How about £28,000 over two years to borrow £200,000 -- interest only
Actuallyl we were quoted £56,000 for £400,000 over two years , but will not need that much
That sound cheap to you
It sounds quite expensive to me
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post #137 of 139 (permalink) Old 03-15-2008, 03:29 PM Thread Starter
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How about £28,000 over two years to borrow £200,000 -- interest only
Actuallyl we were quoted £56,000 for £400,000 over two years , but will not need that much
That sound cheap to you
It sounds quite expensive to me
So you are getting your money at about 7%?

Right now, here in the States that is about the "base estimate" return on mutual funds when they cross their fingers and pray that the economy doesn't tank. If Northern Ireland [and its direct links to British Economic issues is promising a similar return then it would be a wash. What are the banks offering for savings interest and Certificates of Deposit [CDs]? And what kind of National Treasury investments [like our Savings Bonds] can you get?

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post #138 of 139 (permalink) Old 03-16-2008, 05:42 AM
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Bear,
Yes 7% for a land related business loan from the Northern Bank, we do not intend to shop around as we have a very good relationship with this bank, which I have used ( and occasionally abused ) from I was 14 years old.
At heart I am a lazy sod, so I cannot answer your questions about the other rates, and the wife wont.
Anyway our policy from about 1983, regardless of the economic climate has been to save like fuck, buy property with cash, save up again, sell up and trade up for cash. NEVER borrow.
We could have invested in the property boom early ( and discussed doing so ) on but took time out to build a 3750 sq foot house in an 8 acre field , part of a 107 acre property we purchased at public auction.
And we bought shares at the height of the market
Net result after 25 years ,
by the standards of our peers, we are very very well ahead.
Still be reluctant to sell the HSBC as my paternal grandfather started buying them, but with 15 more years salary to come, in with a chance.
And in case anyone is thinking I or "the wife" inherited a fortune, I only very recently got 17,000 HSBC from my late father's estate.
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post #139 of 139 (permalink) Old 03-16-2008, 07:35 PM Thread Starter
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Bear,
Yes 7% for a land related business loan from the Northern Bank, we do not intend to shop around as we have a very good relationship with this bank, which I have used ( and occasionally abused ) from I was 14 years old.
At heart I am a lazy sod, so I cannot answer your questions about the other rates, and the wife wont.
Anyway our policy from about 1983, regardless of the economic climate has been to save like fuck, buy property with cash, save up again, sell up and trade up for cash. NEVER borrow.
We could have invested in the property boom early ( and discussed doing so ) on but took time out to build a 3750 sq foot house in an 8 acre field , part of a 107 acre property we purchased at public auction.
And we bought shares at the height of the market
Net result after 25 years ,
by the standards of our peers, we are very very well ahead.
Still be reluctant to sell the HSBC as my paternal grandfather started buying them, but with 15 more years salary to come, in with a chance.
And in case anyone is thinking I or "the wife" inherited a fortune, I only very recently got 17,000 HSBC from my late father's estate.
Dude, you're Irish. "At heart I am a lazy sod" was an unnecessary thing to need to type. Yes, the Irish quarter of my lazy ass concurs. The Scottish half questions it often and the Welsh quarter is still trying to figure out how the Hell all the words have so many F'ing letters.

Since you have a good working relationship with your bank, I think I would go to them with this question. Of course they are going to want both your Mortgage AND your investment money but if they can offer you a deal where you can do both, keep your shares and make a couple of points, take it. Also, you might go to your local HSBC office and see about any deals they might have [I know the lazy issue but it might make you some Pounds].

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.

Last edited by mcbear; 03-16-2008 at 08:00 PM.
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