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Lets say you make $500-600 grand per year. How much of a mortgage would

Posted on 12/10/13 at 7:22 pm
Posted by AndyJ
Member since Jul 2008
2753 posts
Posted on 12/10/13 at 7:22 pm
You take? Your salary would not go up, but you'd always have a job, but that salary could drop as low as $400 grand
Posted by yellowfin
Coastal Bar
Member since May 2006
97608 posts
Posted on 12/10/13 at 7:26 pm to
8kish
Posted by I Love Bama
Alabama
Member since Nov 2007
37693 posts
Posted on 12/10/13 at 7:33 pm to
Hire me.
Posted by Mr.Perfect
Louisiana
Member since Mar 2013
17438 posts
Posted on 12/10/13 at 7:37 pm to
Piss the frick off a-hole
Posted by GaryMyMan
Shreveport
Member since May 2007
13498 posts
Posted on 12/10/13 at 7:39 pm to
You're smart enough to make half a mil a year but can't figure out how much house you can afford?

If it's mailbox money I have got a can't miss investment opportunity for you.
This post was edited on 12/10/13 at 7:41 pm
Posted by C
Houston
Member since Dec 2007
27816 posts
Posted on 12/10/13 at 7:41 pm to
I never understand how you can give a good answer to something like this.
Posted by AndyJ
Member since Jul 2008
2753 posts
Posted on 12/10/13 at 7:48 pm to
quote:

8kish


Thanks. That feels about right for total cost of house. Uptown NOLA and Old Metairie are crazy
Posted by Vols&Shaft83
Throbbing Member
Member since Dec 2012
69891 posts
Posted on 12/10/13 at 7:50 pm to
quote:

You're smart enough to make half a mil a year but can't figure out how much house you can afford?



He could play for the Saints
Posted by LSUAfro
Baton Rouge
Member since Aug 2005
12775 posts
Posted on 12/10/13 at 7:59 pm to
One million dollars
Posted by Bayou Tiger
Member since Nov 2003
3657 posts
Posted on 12/10/13 at 8:05 pm to
Why take a mortgage? Just buy a modest house and be done with it.

I don't understand the concept of making that much and having a mortgage.
Posted by C
Houston
Member since Dec 2007
27816 posts
Posted on 12/10/13 at 8:13 pm to
quote:

I don't understand the concept of making that much and having a mortgage.


He probably can get a loan for less than 2%. why not stick that money in the stock market?
This post was edited on 12/10/13 at 8:24 pm
Posted by Vols&Shaft83
Throbbing Member
Member since Dec 2012
69891 posts
Posted on 12/10/13 at 9:02 pm to
quote:

He probably can get a loan for less than 2%. why not stick that money in the stock market?



I go back to this point

quote:

You're smart enough to make half a mil a year but can't figure out how much house you can afford?



and then think

quote:

Maybe he plays for the Saints


Perhaps he should avoid math
Posted by FootballNostradamus
Member since Nov 2009
20509 posts
Posted on 12/10/13 at 9:58 pm to
quote:

You take? Your salary would not go up, but you'd always have a job, but that salary could drop as low as $400 grand


Is this a trust fund baby question?

You marry into money and gonna start working for dad?
Posted by Libertariantiger
Member since Nov 2012
981 posts
Posted on 12/10/13 at 10:07 pm to
Guessing, I would say two doctors that are married. You start making that money but have no real savings and student loans. If I guess right, I would buy a first home in the 300k range for 4-5 years. Save and pay loans off, then move up to 800-mil.
Posted by AndyJ
Member since Jul 2008
2753 posts
Posted on 12/10/13 at 10:33 pm to
Wow. Spot on.
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 12/11/13 at 2:22 am to
If you're making that much bank and can't figure out the answer on your own, the answer is to hire a financial manager to help you with your financial questions.
Posted by Vols&Shaft83
Throbbing Member
Member since Dec 2012
69891 posts
Posted on 12/11/13 at 5:47 am to
quote:

If you're making that much bank and can't figure out the answer on your own, the answer is BITCOINS MOTHER frickER





Fify
Posted by Motorboat
At the camp
Member since Oct 2007
22664 posts
Posted on 12/11/13 at 6:59 am to
It amazes me that doctors getting out of school are like 32 year old 22 year olds. Not trying be an arse, but these should be some sort of class in med school to at least inform you guys about money.

BTW, I wish we had the same type class in law school.
Posted by cwill
Member since Jan 2005
54752 posts
Posted on 12/11/13 at 9:26 am to
Hey a doctor with money and no financial acumen....want to invest in some oil wells in Africa?
Posted by Brood211
Member since Jun 2012
1414 posts
Posted on 12/11/13 at 9:27 am to
No mortgage. Buy w/ cash.
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