Would you sell your Charger to buy property?

[Big Lebowski]

It's a big decision, some of you know I do remodel work, and sometimes, log cabins in the forests of So. Calif. Anyway, I'd have to sell a '70 Six-pack Charger to buy it. I've got an investor for building costs, but I need serious cash for the property. It's basically a 1/2 acre lot at 6000' with a view of the great Palomar Observatory. What would you do? here's a few pics...

[Big Lebowski]

It's a nice view, look in the middle on the next hill over, you see the great Palomar Observatory.

[89MOPAR]

 Can you buy two equivalent chargers with the profits ?
Do you need the profit for things other than cars ?

Can you shine a Big Floodlight at the observatory at night , just to be a pest ? 

I don't think I'd sell unless I planned on living on the property. If it were for investment purposes, I would have the charger appraised , then attempt to take out a "secured" loan with the charger as collateral - yes, you'll pay more interest, but if the profit is large enough , the interest on the Charger Loan should be negligible , as you'd probably have the home built and sold in a year [?]

[4402tuff4u]

That's a tough one....depends what you are doing it for. For investment purposes only?  Buying property to invest your money and get equity out of it? in most cases realstate investments are a good way to go. A Charger could be an investment but I think you have a better chance turning a profit easier in realstate. With a vehicle such as a Charger, you are limited on the buyers/market and after all is set and done how much profit can you really make on a Charger. You would have had to be the type of owner that had the Charger since new - only owner, a survivor with a desired power plant/options with no work (expense) done to it to turn around and sell it for 10 or 12 times what you paid for the car brand new. The market for a Charger is way less than the market of selling a new home in nice piece of property. I'm not familiar with the California realstate market, but if you turn around the property with a home on it, would the profit margin be significantly high that you could go ahead and buy another Charger of higher value, perhaps a Hemi car? and at that point, you still have a car that is a good investment.

Nice property by the way. Remember location, location, location.....good luck, cheers.

[ChargerBill]

LB, to answer your question, yes, I would sell my Charger to buy a house or property...I personally think that property ownership is a little more important than hanging on to a vehicle. I mean, can you sleep in your Charger..live in it?

As far as the property you are looking at, is the land buildable...it looks a little steep in the photos. Are the local values similar to the asking price? Are you getting a deal? Is it s a desirable area? If it will appreciate and is in a desirable location I think you should give it serious thought. Also, is the Charger you have to sell your ONLY Charger? If not, the decision should be easy... Good luck.

[greenpigs]

  Well the value of a Charger will always go up but I don't see the value going to the moon like a HEMI E body.
  How important is having a legit 6  pack car to you?

If it were me I would build on the lot if at all possible as that view is NICE and you will enjoy it 365 days a year how often will you get to play with the Charger?

To me where I live is more important to what I drive and a regular Charger with a transplanted 440-6 pack would do just fine..

If this is just an investment then how long will you need to wait to flip it?

[41husk]

i think cars are much like property, the good pieces will always go up in value.  You are the only one that can decide the one that is more valuable, monitary or sentiment.

[NHCharger]

Tuff call. The way you word it I'm assuming you would build a house or cabin on this property and then sell it?? If you sell the property and can buy a 70 Charger of equal or greater value AND put 20k+ in your pocket I would say it would seem like a smart deal, unless the Charger has some type of sentimental value to you.

[Old Moparz]

I agree it's a hard choice, but there are a few variables to consider. Is the lot for yourself, or are you building to sell & profit from it? If it will be for yourself, will you be content with just 1/2 an acre? Personally, I'd want no less than 2 acres for some privacy, & also make sure you know about the land usage around you. I'm on 1/2 an acre now, but wish it were more because town houses (condos) are being proposed on the adjacent land. I'm so used to being surrounded by 35+ acres of woods, like 15 years, it's going to suck.

If you are investing & selling for a profit once it's done, then like NHCharger stated, to replace the car with extra cash sounds very cool. If there's sentimental value & you're concerned with that part of the car, that'll make it harder to decide since you won't replace that part of it. Of the cars I have, projects or not, the ratty looking, Satellite ragtop means more to me than the others. I'd sell the Charger or all the others to do what you're considering, but the Satellite would be virtually impossible.

[PocketThunder]

I'd sell my '69 500 when the value of it equals the payoff on my mortgage..  ($175,000)

[Telvis]

I'd go with the land. You can always find another Charger later.

[67_Dodge_Charger]

That is a tough question.  If the Charger was handed down from a family member I would keep it forever and pass it on.  But for a Charger with no emotional attachment, other than the love of mopar, I would sell to futher my ability to purchase a more unique one.  JMO

-Robert

[Blown70]

I would sell it with some of the profit you could buy another one or two.  Unless it is hand me down can that has some other value.

I have seen a lot of nice Chargers for sale.  Buyone later.

Tom

[my73charger]

Nope.  In my experience, it becomes tough to ever get another one.  Plus I am still kicking myself in the rear over past cars I should have kept.  My neices husband sold his 69 camaro with hopes of buying another in the near future.  He needed money for land actually.  That was 5 years ago and it is beginning to look like he will never buy another.  Anyway, just my 2 cents.

[Orange_Crush]

Nope.  In my experience, it becomes tough to ever get another one.  Plus I am still kicking myself in the rear over past cars I should have kept.  My neices husband sold his 69 camaro with hopes of buying another in the near future.  He needed money for land actually.  That was 5 years ago and it is beginning to look like he will never buy another.  Anyway, just my 2 cents.

Depends on the property.

I bought a house in '99 for 200,000 and sold it in 2004 for 400,000.

You bet your ass I would've sold the Charger to buy that one (if I had to).

1/2 acre moutntain property witha view in SoCal...Yes, I'd sell the charger in a heartbeat to buy it. 

[last426]

Don't forget to take into account taxes, both on the sale of the car and the re-assessment of the land.  It can and likely will be substantial.  Kim

[CaptMarvel]

Its always nice to make some RE money, I would strongly consider it, but also dont forget what interested you in the Charger to begin with. Is it worth alot of great sentimentality & dreams to buy the property? Dont get me wrong, I've given up alot of fun things in my life in order to make money, I am a capitalist at heart, but I'm starting to understand you cant take it with you at the same time. Have fun, enjoy the Charger...

[RD]

I own a 73 Charger SE, 1 of like 200,000...  I couldnt buy property even if I got top dollar for it hehehehe 

[Silver R/T]

it all depends on what kind of property

[Big Lebowski]

Can you buy two equivalent chargers with the profits ?
Do you need the profit for things other than cars ?

Can you shine a Big Floodlight at the observatory at night , just to be a pest ? 

I don't think I'd sell unless I planned on living on the property. If it were for investment purposes, I would have the charger appraised , then attempt to take out a "secured" loan with the charger as collateral - yes, you'll pay more interest, but if the profit is large enough , the interest on the Charger Loan should be negligible , as you'd probably have the home built and sold in a year [?]

    Ok, let me see if i can answer everybody's questions...Those pics above are from 2 acres that my uncle owns with 4 cabins and a real 1922 log cabin. Actually his 2 acres are flat land at the very top of the mountain. The flat 1/2 acre that I'm looking at is 1 lot above his, so it has an even better view of the Observatory.

    The Big Floodlight? I've met some of the comet chasers, they tell me because of the light making it useless, the Observatory was converted to radio telescope that looks way farther out than the 200" mirrior does. 

  As far as being buildable, this is why it's a winner. It has the "Water share" with the water meter in, the elec is there, the forestry has ok'd all of the road access BS, and with the stamped approved plans I'd have 1 year to at least have the foundation finished.

  And ya the taxes totally suck, the car tax from selling it and the property tax. So this is a build and sell project. I already have my uncle's cool cabin to hang out in now, so if the guy sells his property this weekend, it's no big deal.

   I just like it because it's above my uncle's place, but you guys are right, a 1/2 acre sucks, 2 acres is way better. And I should have bought it 20 years ago for $10,000 instead of his $105,000 asking price. But remember, here in So Cal. EVERYTHING is 500k This mountain home would sell for maybe 300k when it's finished.

[Drop Top]

I sold every car and everything I loved just to keep the land I already had. Now things are looking like I will retire very soon and buy any car I want. Property is always the best investment especially in Calif. Of course I'm too young to retire so I'm just going build my dream shop and keep on doing what I like. 15 years ago this property that I have fought for was worth at the most $1500 an acre but it was my home. Now its worth on the down side to $150,000 an acre.

Besides, from the looks of those pictures, in a few years, after the big one, its going to be Ocean Front Property. You know how much thats worth. Right? 

[my73charger]

Nope.  In my experience, it becomes tough to ever get another one.  Plus I am still kicking myself in the rear over past cars I should have kept.  My neices husband sold his 69 camaro with hopes of buying another in the near future.  He needed money for land actually.  That was 5 years ago and it is beginning to look like he will never buy another.  Anyway, just my 2 cents.

Depends on the property.

I bought a house in '99 for 200,000 and sold it in 2004 for 400,000.

You bet your ass I would've sold the Charger to buy that one (if I had to).

1/2 acre moutntain property witha view in SoCal...Yes, I'd sell the charger in a heartbeat to buy it. 

Thats why I said, "In my experience.."  Thats great that you can buy and sell land in Cali for that much, that however is NOT my experience.  I live in North Minnesota.  I am not rich, I work my ass off for what I have and if I sold my car to try and invest money around here that would be the end of my car.  Simple as that.  I guess it all depends on what your motives are.  Mine are to keep my car.   It will be my last Charger.

[Big Lebowski]

  This part sucks. Say a property value goes up 7% that year. Woo hoo, but the interest on a construction loan is about that. So that wipes out the profit from that, then the risk becomes...build it yourself as fast as you can, then live there 2 years trying to sell it. Hopefully making a buck when it's over.