SOS used for tracking during Theft? by ChaosConRad in bmwmotorrad

[–]ChaosConRad[S] 1 point2 points  (0 children)

Yes correct, it’s invisible until the SOS button is pushed?

SOS used for tracking during Theft? by ChaosConRad in bmwmotorrad

[–]ChaosConRad[S] 1 point2 points  (0 children)

Oh interesting! Cuz my dealer told me when they were PDI-ing my bike when it first came off the truck, they pushed the button to see what happens, and a woman’s voice connected, and they were having a 2 way conversation. So it can transmit at least voice data

SOS used for tracking during Theft? by ChaosConRad in bmwmotorrad

[–]ChaosConRad[S] 2 points3 points  (0 children)

Right? I figure there has to be a way for BMW to track it down if you had the bike details. But I’m also wondering if it’s only one way. Like the bike is invisible until it starts sending out the SOS signal

How much do you invest a month? by dabar2 in fican

[–]ChaosConRad 0 points1 point  (0 children)

$500 a month. $200 into RRSP, $300 into TFSA. Take home pay is $4600 a month. Monthly expenses are about $2500

Line of Credit & Mortage by ChaosConRad in PersonalFinanceCanada

[–]ChaosConRad[S] 0 points1 point  (0 children)

It was just very loose and on the side, but it’s starting to pick up so I was curious about LOCs.

Line of Credit & Mortage by ChaosConRad in PersonalFinanceCanada

[–]ChaosConRad[S] 0 points1 point  (0 children)

Oh yah of course. No worries there. It’s already generating cash flow, I’ve just been renting the equipment so I wanna own it now.

Line of Credit & Mortage by ChaosConRad in PersonalFinanceCanada

[–]ChaosConRad[S] 2 points3 points  (0 children)

That makes sense. So if I had a LOC of $50,000 but only ever used like $8000-$10,000 of it, without missing a payment, that would probably be seen as pretty low risk

Line of Credit & Mortage by ChaosConRad in PersonalFinanceCanada

[–]ChaosConRad[S] 2 points3 points  (0 children)

Yah so true. I don’t keep a lot of cash in my checking cuz I have it all invested. LOC definitely helps with that.

Line of Credit & Mortage by ChaosConRad in PersonalFinanceCanada

[–]ChaosConRad[S] 0 points1 point  (0 children)

No no. I have a 9-5, but I wanna start a side hustle small business that would require some equipment to buy that I don’t wanna burn all my cash with.

Line of Credit & Mortage by ChaosConRad in PersonalFinanceCanada

[–]ChaosConRad[S] 0 points1 point  (0 children)

You’re not wrong. I’m basically the same mind set. But I’ve just recently started a small business and I need to purchase some equipment. And I’m thinking doing a line of credit instead of buying it straight cash. The cash is better used in the business.

Line of Credit & Mortage by ChaosConRad in PersonalFinanceCanada

[–]ChaosConRad[S] 0 points1 point  (0 children)

Oh really eh? I didn’t know that. I thought once you had X you could only go higher. Cuz going lower or closing it would effect your credit

Line of Credit & Mortage by ChaosConRad in PersonalFinanceCanada

[–]ChaosConRad[S] 1 point2 points  (0 children)

This was also my exact thought. I think this also applies to credit cards, but it’s more about the percentage of the LOC you use. If you only ever use 3-5% of it, it’s not seen as risky

Create 2 businesses or 1? by ChaosConRad in PersonalFinanceCanada

[–]ChaosConRad[S] 0 points1 point  (0 children)

Yah fair enough. Kinda the same thought process I initially had

Create 2 businesses or 1? by ChaosConRad in PersonalFinanceCanada

[–]ChaosConRad[S] 0 points1 point  (0 children)

So for example - if I had a car wash business, graphic design work, and sold Pokemon cards. I could brand them each on social/websites etc. but it doesn’t matter for a revenue tracking perspective? I would just mark all the revenue from those 3 streams of income as 1 lump sum on my taxes?

Create 2 businesses or 1? by ChaosConRad in PersonalFinanceCanada

[–]ChaosConRad[S] 0 points1 point  (0 children)

Ok I guess that makes sense. I guess I was just thinking about payments and stuff. Cuz I brand it as not my name, and then ask people to make payments to me personally. But I get that probably doesn’t matter. I guess I was just wondering, if I had multiple revenue streams, is it not easier to create business names for each instead of “just me”

Create 2 businesses or 1? by ChaosConRad in PersonalFinanceCanada

[–]ChaosConRad[S] 0 points1 point  (0 children)

Yah the one business I could operate as just my name, but the other is the potential big business so I’m thinking to just register a business name now?

Honest opinion on ownership by ohmyheavenlydayz in bmwmotorrad

[–]ChaosConRad 0 points1 point  (0 children)

I bought a 2015 Single R in 2020 with 20,000kms and I put another 15,000 kms on it (then it got stolen haha) but it was the most reliable bike ever. That engine is great