I sold a piece of property, should I take the cash and buy a new boat or expand my business?
I sold the property to buy the boat. I have other properties. I want to go sailing before I’m too old. Should I put down a down payment and finance the boat, use the remainder of the cash to expand the business; or use the money to buy the boat outright?
Tags: Business Money, Business Property, Buy Boat, Down Payment, Finance, New Business, Remainder, Sailing
Buy the boat. You’ll complete your “dream” so you can move on with your life.
Anyway to purchase items free of debt is the route I always try to take. You are more free that way.
Expand your new buisness gets you more money then you can buy a boat and still have money left over
Make a downpayment, finance the boat and expand the business. Pay the boat on time and improve your credit score and expand your business even more – sail before you die. Its a trifecta!!!
You should really do what you think is best. If you think that if you expand your business you will earn more cash, then you should do that and buy the boat with the extra cash you make. If you dont think it will expand and make more cash, then I’d go for the boat, this way if you dont have money to pay youre rent, the you can live in you’re boat! : )
Do what you feel is right for you.
do the american thing and buy the boat.
That depends on how good of a financing deal you can get – if you can get a good interest rate on the boat and investing the money in your business will bring you a higher rate of return, then you should finance the boat. (Like, if financing the boat costs $500 a year, and you could make more than $500 extra a year by investing the money in your business, you should finance the boat.)
That said… A boat is a hole in the water into which money is poured… So you might be better off renting a boat when you want to sail unless you’re really serious about using it all the time.
i definitely advice you to invest and expand your business. if you expand your money, you can have as many boat as you wanted in the future.. just think about your future..
Hi, well if you have other properties, & sounds as though you been waiting for an opportunity like this one,I would go & buy the Boat!!.You can always sell your other properties at a later date.GO ENJOY YOUR LIFE WHILE YOU HAVE IT.!!!!!!!
It depends on taxes. If you have to pay the government for the sale that will show when you calculate you total earnings when you file you income tax. If that sale puts you in a higher income bracket, then you will want to put it into your business, and then you may be able to get the money from your business as a business expense
BOAT? Break Out Another Thousand