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Started By
Message
1
Posted on 3/19/18 at 8:05 pm to liz18lsu
Hey
I bought a 2012 Cabernet Sauvignon tonight
I know you don't care, but....voila
I bought a 2012 Cabernet Sauvignon tonight
I know you don't care, but....voila
Posted on 3/19/18 at 8:07 pm to Rouge
quote:
I know you don't care, but....voila
Oh come on Rougie, I always care...
Posted on 3/19/18 at 8:16 pm to liz18lsu
You spent $76,000 in payments, cleared $30k when you sold (assumming you actually cleared 30k after commission and closing costs, any applicable taxes, etc) and you said you spend $5k getting it ready to sell, and spend $300 a year in an hoa etc.
You spent $55k to live there for 12 years, basically.
$382 a month is what you spent, after all returns.
You could have just rented with roommates for that, you said you already had roommates anyway.
I don't see the investment strategy here.
If you had held on to the property, moved out, and continued collecting rent that exceeded your expenses on the place, and parlayed that profit into a second property, and snowballed it into a real estate empire, something could be said for that.
Instead, you decided to move, take your $30k and call that "investment income" which is ridiculous.
You spent $55k to live there for 12 years, basically.
$382 a month is what you spent, after all returns.
You could have just rented with roommates for that, you said you already had roommates anyway.
I don't see the investment strategy here.
If you had held on to the property, moved out, and continued collecting rent that exceeded your expenses on the place, and parlayed that profit into a second property, and snowballed it into a real estate empire, something could be said for that.
Instead, you decided to move, take your $30k and call that "investment income" which is ridiculous.
Posted on 3/19/18 at 8:22 pm to deeprig9
quote:
deeprig9
quote:
Instead, you decided to move, take your $30k and call that "investment income" which is ridiculous.
Keep pace hon, I said I got $30K out of the house. Not once did I say investment income. I moved to another state and have more than doubled my income. You should be nicer, the pompous schtick doesn't look good on you.
Posted on 3/19/18 at 8:25 pm to deeprig9
quote:
$382 a month is what you spent, after all returns.
You could have just rented with roommates for that, you said you already had roommates anyway.
A decent 2BR apartment away from the ghetto in BR is easily $1200-1300 and up. Sounds like she still saved money. You don't want to rent a $750 2BR here. Trust me on that one.
This post was edited on 3/19/18 at 8:26 pm
Posted on 3/19/18 at 8:28 pm to liz18lsu
quote:
You should be nicer, the pompous schtick doesn't look good on you.
Easy there, sweetheart.
I just don't want people getting the wrong idea, see?
People... they.... they see these things on television, they hear all this noise on the radio, they think owning a home is the answer... the answer to what.. I don't know toots.
It's a crazy world out there.
Posted on 3/19/18 at 8:28 pm to liz18lsu
quote:
deeprig9
You’re getting your arse handed to you bro. Stop now while she’s being nice.
Posted on 3/19/18 at 8:32 pm to deeprig9
quote:
Easy there, sweetheart.
I just don't want people getting the wrong idea, see?
People... they.... they see these things on television, they hear all this noise on the radio, they think owning a home is the answer... the answer to what.. I don't know toots.
It's a crazy world out there.
Did you just go all 1940's Private Eye on me?
"Schee, just the facts..."
Posted on 3/19/18 at 8:45 pm to deeprig9
quote:
You could have just rented with roommates
Nothing against renting, but I'm not paying someone else for 12 years.
Posted on 3/19/18 at 8:55 pm to philabuck
quote:
Nothing against renting, but I'm not paying someone else for 12 years.
When you are paying a mortgage, property taxes, insurance, landscaping, utilities and maintenance, you are paying someone else.
Posted on 3/19/18 at 9:00 pm to deeprig9
quote:
When you are paying a mortgage, property taxes, insurance, landscaping, utilities and maintenance, you are paying someone else.
You make a LOT of assumptions. I was a broke college student, paying a whole lot less than rent, $30 HOA's, no maintenance, etc.
I am a tax accountant. I am not stupid with money, but you just can't let it go that you seem a bit stupid about life.
Posted on 3/19/18 at 9:02 pm to deeprig9
quote:
property taxes, insurance, landscaping, utilities and maintenance
All included with rent. You think the homeowner doesn't factor this shite in? Are you that stupid?
Posted on 3/19/18 at 9:18 pm to liz18lsu
One argument you can make is that it's consistent. No surprises.
Posted on 3/19/18 at 9:25 pm to deeprig9
quote:
When you are paying a mortgage, property taxes, insurance, landscaping, utilities and maintenance, you are paying someone else.
But you're also building equity. With rent (you pay all those expenses, too, baw, you're the customer, remember), you aren't building jack squat.
Name a person who became wealthy by paying his or her rent? You can't because it's never happened. Many middle class folks pay on a mortgage 30 years and find themselves fairly wealthy with a paid off house.
Posted on 3/19/18 at 9:27 pm to jimbeam
quote:
One argument you can make is that it's consistent. No surprises.
This is true and mainly why rent makes sense for the young, the broke and the transitional - if you're not settling in for the long haul, transactional costs will eat you up. If you want to just plan for $X per month to cover housing without any ownership responsibilties, rent is the best way.
Likewise, it's probably better to rent than pay a huge HOA or PMI (at least in my opinion), particularly if those costs eat up any equity gains and drive you out of your budgeted range.
Posted on 3/19/18 at 9:30 pm to jimbeam
You can get a pretty decent home warranty if you want piece of mind. Minus a big city or a short term stay I can't see renting being more affordable than buying a house..
Posted on 3/19/18 at 9:31 pm to Ace Midnight
The snake oil salesmen are out in force tonight.
Real estate is high right now, bad time to buy, from an investment standpoint, unless you are a pro taking risks and working to flip it. Or if you know you want to live somewhere for 20 years.
The problem is that in today's economy, people don't, can't, count on the fact they have a good company job they can stay at for 40 years. Job mobility, instability, however you want to describe it, significantly diminishes the logical part of the charm of owning your own home.... at least in a seller's market like we have now.
Real estate is high right now, bad time to buy, from an investment standpoint, unless you are a pro taking risks and working to flip it. Or if you know you want to live somewhere for 20 years.
The problem is that in today's economy, people don't, can't, count on the fact they have a good company job they can stay at for 40 years. Job mobility, instability, however you want to describe it, significantly diminishes the logical part of the charm of owning your own home.... at least in a seller's market like we have now.
Posted on 3/19/18 at 9:34 pm to deeprig9
quote:
The snake oil salesmen are out in force tonight.
Oh, sweetie, it's ok, you will make your millions one day. I wish you the best of luck.
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