Trade my Condo for a Lambo?

[jetfalcon]

So my parents bought a condo and it's under my name. So technically I am the owner of this condo. I think they paid around $170-200k for it. And it's all in cash so no loans or anything.

I'm not sure how the market is now or what we could get it for it. But would it be possible to get a 2 yr old Aventador that has depreciated from it's $500-600k full retail price? And just trade my condo for that car?

Some real estate agent person who called me about my condo said it is possible under a Internal Revenue Code section 1031. Where you just simply swap real estate property for other property, or maybe an exotic car. I have seen Craigslist ads of people with exotic cars that say they will trade for condos.

I have trades just normal stuff you buy at retail stores. But I just wonder how more expensive & things with titles like cars & houses would work if you just wanted to trade.

If someone wanted to trade their centanario for my condo, I'd do it without thinking about even if my parents would kill me. Because I know I could probably drive that centanario for a month and sell it for alot more than the condo is worth. But probably never going to happen, unless it was a gift from an ex. I may do it for an Aventador, but if it's a Huracan, I'd have to think about it.

[lp580]

Can we please start banning people? PLEASE.

[Kermit]

what the...

[robby3]

You will not drive the Centenario for a month because you cant reach the pedals ...

[TTBear]

No, you shouldn't.

The mere suggestion of doing this is farcical. Grow up. Buy an exotic when you can, not when you can steal the funds from your parents, which in effect is what you would be doing. Just because the condo is in your name, does not mean it is yours to sell or trade. There's no thinking about anything, here. The condo is not yours - and even if your parents do consider it as your property, it would be ridiculous to sell it to fund a Lambo purchase.

Moderators, could we implement a "ban by consensus" option on this forum?

Jesus.

[MBG]

No, you shouldn't.

The mere suggestion of doing this is farcical. Grow up. Buy an exotic when you can, not when you can steal the funds from your parents, which in effect is what you would be doing. Just because the condo is in your name, does not mean it is yours to sell or trade. There's no thinking about anything, here. The condo is not yours - and even if your parents do consider it as your property, it would be ridiculous to sell it to fund a Lambo purchase.

Moderators, could we implement a "ban by consensus" option on this forum?

Jesus.

Seconded.

MBG

[richardw331]

There goes the saying, 'if you talk about money, you generally don't have it!'

My best advice to you is, ambitions are powerful, but be realistic as well.

[jetfalcon]

This was just a theoritical idea, I'm pretty sure if I did such a trade, the guy with the Lambo will be the one who got the good deal and now I'm stuck with a car that is losing value every day and is extremely expensive to maintain. Yeah the car is cool, but I've seen entrepreneur videos talking about how these exotics can be financial burdens. You guys need to calm the fuck down, I wasn't really serious.

But I did contact an Aventador owner on Craigslist and he actually responded. Asking me stuff like what the market value of my condo is. Meaning even though I was just fucking around, he still considered. So ya it could be done if the condo was the right market value to justify a trade for a Lambo.

I know I can just rent one for $300 and be satisfied. It's not like it's outta reach for me to go drive a Lambo.

[Venzz1028]

This guy is just a troll. Jetfalcon man, big fan, keep up the good work

[TTBear]

This was just a theoritical idea, I'm pretty sure if I did such a trade, the guy with the Lambo will be the one who got the good deal and now I'm stuck with a car that is losing value every day and is extremely expensive to maintain. Yeah the car is cool, but I've seen entrepreneur videos talking about how these exotics can be financial burdens. You guys need to calm the fuck down, I wasn't really serious.

But I did contact an Aventador owner on Craigslist and he actually responded. Asking me stuff like what the market value of my condo is. Meaning even though I was just fucking around, he still considered. So ya it could be done if the condo was the right market value to justify a trade for a Lambo.

I know I can just rent one for $300 and be satisfied. It's not like it's outta reach for me to go drive a Lambo.

"Theoritical" (sic) or otherwise, your post reeks of immaturity and with your most recent post, disrespect.

The mere fact that you started this thread makes my head spin. The vast majority of your posts make my head spin with their lack of insight, and level of entitlement. That you state "If someone wanted to trade their centanario for my condo, I'd do it without thinking about even if my parents would kill me" speaks volumes as to your level of maturity. I believe (and this is of course just my own opinion), that your parents should have bought you a Yugo to start with, rather than an M3.

I feel sorry for your parents. I really do.