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1
Posted on 8/10/15 at 10:42 pm to yellowfin
So then how are taxes irrelevant? Using gross income does not accurately depict his monthly take home, which means he is probably spending greater than 10% on housing.
Posted on 8/10/15 at 10:54 pm to BioBobcat
quote:
I agree 9% is insane. Apartments near me (downtown Denver) are ~$1,800 for a one bedroom. This Hawkeye guy must be balling out or living off of Colfax.
its 9% of gross.
And yes, I live a half a block away from colfax. I can look out my office window and see colfax, although its the nicer part of colfax near the bluebird.
also buying in denver is cheaper than renting. All of the rentals near my house go for 25-30% more per month than my house note.
I got in before the recent 20-30% runup in prices too, which helps.
This post was edited on 8/10/15 at 10:58 pm
Posted on 8/10/15 at 10:57 pm to Hawkeye95
Makes a lot more sense now. I must have selectively misread that earlier. Glad to hear you are not living near the more... "interesting" parts of Colfax. 
Posted on 8/10/15 at 10:59 pm to BioBobcat
Its definitely interesting. I mean, its colfax. I saw a transvestite hooker on Saturday night, dressed up like a sailor. 
Posted on 8/10/15 at 11:06 pm to Hawkeye95
Oh Colfax... It is a strange strange street. 
Posted on 8/10/15 at 11:17 pm to dragginass
It really depends on what your baseline is, but generally speaking 3x is the max I could see and keep a reasonable standard of living.
I'm at 2.25x with myself, and with my fiancé we will be at about 1.5x. We live together but I pay the bills so she can knock out her student loans.
I'm at 2.25x with myself, and with my fiancé we will be at about 1.5x. We live together but I pay the bills so she can knock out her student loans.
Posted on 8/11/15 at 12:49 am to TigerDeBaiter
Most you motherfrickers are liars.
Posted on 8/11/15 at 6:08 am to BioBobcat
Because he didn't say he was spending 9% of his take home. He said he was spending 9% of his gross
Didn't you even read his post?
Didn't you even read his post?
Posted on 8/11/15 at 6:39 am to BioBobcat
quote:
So then how are taxes irrelevant?.
Taxes are very relevant. Have a client moving from TX paying 36k a year in property taxes. On same house valuation here, taxes will be 5775.00 a year. Literally a 2nd income. both TN and TX have no state income tax so that's a wash
Posted on 8/11/15 at 6:45 am to Coach Guidry
quote:
25-28% of take home pay...no longer than 15 years.
That wouldn't get me a studio in Anacostia up here
Posted on 8/11/15 at 7:28 am to birdieman
quote:
Most you motherfrickers are liars.
Sorry you overspent on your trailer.
Posted on 8/11/15 at 7:30 am to dragginass
when I bought my place 3 1/2 years ago, my house was 6x my income
Posted on 8/11/15 at 7:36 am to birdieman
quote:
Most you motherfrickers are liars.
I don't think that's true (although I suspect people "round up" on these kinds of threads). It's just that no one would post on this kind of thread to brag about being underwater, the same way no one would pop into one of CptBengal's roid threads to talk about benching 125.
Posted on 8/11/15 at 7:41 am to Cold Cous Cous
quote:I happen to agree with the post earlier that this board is self-selective. What are the kind of people interested enough in investments, economics, and finance that they would regularly post on this board? People with either a decent amount of money, or at the least, the intelligence and financial acumen to be interested in those topics.
It's just that no one would post on this kind of thread to brag about being underwater, the same way no one would pop into one of CptBengal's roid threads to talk about benching 125.
When I was fresh out of college and didn't have any money, I would have been bored out of my mind here. Now that I have an assortment of investments and "skin in the game" so to speak, I am a lot more interested in this board.
Posted on 8/11/15 at 7:45 am to Spirit of Dunson
I think mine is pretty high but we found a house we really like. On a 15 year note our payment is 32% of our net pay. I dont have a ton left over to blow on what we want all the time. Since preschool is so high but in 10 months when that is over we will live a lot more comfortable, and in 12 years when this bad boy is paid off we will really be living good.
Posted on 8/11/15 at 8:13 am to keeton350
We are at 25% of take home, was a lot easier before the baby and when my wife worked full time. Going to be a lean few years. I have about $380k in the house, luckily owe only $245k, 30 year mortgage tho.
Posted on 8/11/15 at 8:26 am to CidCock
Purchase price of my place is 70.2% of my take home. I also have passive income however. It was greater when I purchased it. It's across the street from a golf course. P/I is 3.715% of take home.
Got interested, so I figured it out this morning. I'm single, excepting my 23 yo kinda sorta girlfriend. No kids. I'm also a minimalist. But it's an adequate place to live.
I have non owner occupied real estate as well, and the numbers there are no where near this favorable.
Got interested, so I figured it out this morning. I'm single, excepting my 23 yo kinda sorta girlfriend. No kids. I'm also a minimalist. But it's an adequate place to live.
I have non owner occupied real estate as well, and the numbers there are no where near this favorable.
Posted on 8/11/15 at 9:38 am to keeton350
quote:
I think mine is pretty high but we found a house we really like. On a 15 year note our payment is 32% of our net pay. I dont have a ton left over to blow on what we want all the time. Since preschool is so high but in 10 months when that is over we will live a lot more comfortable, and in 12 years when this bad boy is paid off we will really be living good.
Somewhat similar situation, there are 30 lots left about to released that will complete our little 75 home community. Nowhere else I'd rather live, but timing is not optimal with 850/mo in preschool. That gets cut in half next year and gone in 3 years, new mtg payment will be a wash from what we pay now.
Posted on 8/11/15 at 10:00 am to Spirit of Dunson
I certainly didn't read this board a whole lot when I started posting in 2006 while in college.
Oddly enough my net worth was probably higher back then.
Oddly enough my net worth was probably higher back then.
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