then why is he divorcing you
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then why is he divorcing you
hes also not like you and can actually commit to his woman.
I mean, hooray for your potitive attitude I guess, but lets base it in reality
oh so either he's an idiot or he's afraid of being aloneQuote:
Originally Posted by Cag.
getting old really isnt bad if you have someone to grow old with. sounds cheesy but ita true :)
i just threw the fuck upQuote:
Originally Posted by Cag.
fine, I'll get married when I'm 55. until then life has way too many adventures to offer.
actually nevermind that's going to put a damper on my retirement. fuck marriage at any age.
just buy up properties ane rent them out, retire early. thats what jon and i plan on doing anyway
i suggest he put them all in his name. you got a little wetback in you, i can tell
I want to have the flexibility to fuck any old bag in the bingo parlor tyvm
retirement is the best time to date, no work no chance of pregnancy plenty of money
terrible idea considering neither of you know about real estate finance or construction/regular upkeep of an apt etc...Quote:
Originally Posted by Cag.
put your spare money in vanguards total stock market index or some field that you are educated in (e.g. if jon wanted to do a start-up or something).
i doubt you have great access to credit (esp considering you bought your house with an FHA loan with like 2% down) or have any familiarity with the legal framework of organizing an LLC, obtaining lending to the LLC to leverage you RE investment and write off depreciation/re taxes/loan interest etc... (to maintain more profitability) etc...
jon can buy homes with cash, hes not poorQuote:
Originally Posted by Cams Purple Lambo
rule 101 of real estate. you don't buy investment property with your own cash (solely) unless you're a dumbass.Quote:
Originally Posted by clay
leverage your buying power with borrowed money (for better ROI, tax consequences, etc...). More leverage the better (in investing in RE). LLC will shield you from liability etc... besides personal guarantees on the loans etc...
if you have extra money buy more investment properties or put it into the stock market. don't plunge all 200k of your savings to buy some shitty duplex in all cash (so dumb) more leverage = more profits from rent
see thisQuote:
Originally Posted by clay
Quote:
Consider the common real estate purchase requirement of a 20% down payment – or $100,000 on a $500,000 asset. When a buyer puts only 20% of the money down, and borrows the rest, is essentially using a relatively small percentage of his or her own funds to make the purchase; the majority is being provided by a lender. That's why real estate investors often refer to the 80% remainder of the purchase price as "other people's money": It is, in fact, being provided by someone else.
Assuming the property appreciates at 5% per year, the borrower's net worth from this purchase would grow to $525,000 in just 12 months. Comparing this gain to the gain from a purchase made outright, without any loan, highlights that value of the leveraging strategy. For example, the same borrower could have used the $100,000 to make a paid-in-full purchase of a $100,000 property.
Assuming the same 5% rate of appreciation, the buyer's net worth from the purchase would have increased $5,000 over the course of 12 months, versus $25,000 for the more expensive property. The $20,000 difference demonstrates the potential net worth increase provided through the employment of leverage. Now, picture that 5% gain every year for 20 years. Over time, the use of leverage can have a significant, positive impact on your net worth.
cag you should hire bgd to be your accountant, since you're the sort of person who meets her husband on rubynet that isn't much of a stretch
Bgd is not trolling since he studied the economy.
she should honestly just talk to a financial planner or read elementary investing books. i don't think jon studied finance at all in college and i'm sure cag has limited financial education.Quote:
Originally Posted by maks
or cag should just listen to hgtv and think she will get rich by buying second homes and renting them. (bc that's how trump got rich- real estate duh). fyi trump was a highly leverage motherfucker who knew what the fuck he was doing - cut costs by any means necessary and used the legal system and local government offering tax incentives to his advantage.
I don;t think cag even finished high school
cag how much money do you or jon have in retirement savings (either 401k or IRA)? if you want to retire early that is your best bet to tax free income.
our mortgagr is already paid off. jon knows what hes doing.Quote:
Originally Posted by Cams Purple Lambo
Jon studied engineering systems, it may create an application for Finance but it doesn't include Finance concepts. He got a dunning-kruger effect.Quote:
Originally Posted by Cams Purple Lambo
jon also had huwhite credit
has* present tense. we good. we alrrqdy set
no he doesn't because you had a low interest FHA loan. why the fuck would you put 2k down on a 200k house and then pay it all off in cash like in 2 years lmaoQuote:
Originally Posted by Cag.
not sure about his ira or retirement honestly and probably shouldnt share too much informationQuote:
Originally Posted by Cams Purple Lambo
I bet Jon doesn't know about Fair Housing, in that case you need to be awared about housing discrimination is illegal.Quote:
Originally Posted by Cag.
lol he paid off our mortgage last decemberQuote:
Originally Posted by Cams Purple Lambo
in the scenario you quoted, the person who paid for their house in full is now $5,000 positive in 1 years time.
the person who paid 100k down and borrowed the rest is now $375,000 negative in 1 years time.
$5,000
-$375,000
i dont know, man, tough choice.
dont be shy, cag. jon has probably $800,000 lying around in loose bills. he has a lot more in jewels and antiques, silver frames, etc. let me give you his home address so you can see what his house is worth and get a look at it on google street view.Quote:
Originally Posted by Cag.
i should mention the loose bills are lying around in his home. all of this is in his home. he just moved, too, so he hasnt gotten one of those pesky safes yet
well thats why you run credit checks on people to find out how reliable they are :)Quote:
Originally Posted by juji
i initially joked that you are dumb as hell/poor for only putting 2k down on a 200k house because you can easily get underwater on a mtg that way (20% is sufficient cushion), but you got extremely lucky buying real estate at a very low price and having very cheap financing. your home has probably appreciate 25% in value or somethingQuote:
Originally Posted by Cams Purple Lambo
rather than invest the 198k you just lit on fire and get like 10% returns in a total stock market index fund - you dumped it all into a home that is probably at the peak of its value (before an impending stock market or real estate market correction) and now if you want to buy another house interest rates are much higher
we didnt have 300 grand at the time. we had my rape money and jons savings and used it on down paymentQuote:
Originally Posted by clay
asset is secured by the loan. bank made a loan to LLC. Loans on real estate are generally non-recourse (they can only go after the property not your personal assets) no harm to credit or minimal if a foreclosure bc its against the llcQuote:
Originally Posted by clay
minimal risk of downside. i make the 25k in a year...sell the house to someone else and pocket 25k. meanwhile the chump with a 5k return needs to do that for five years.... i can continue to make 25k repeatedly.
i mean yeah doing the grandma thing and making 5k is OK with no risk. But you should just buy treasury bonds if you want low returns with 0 risk and avoid the issues with real estate (maintenance, fluctuation in price, etc...)
rhodes scholars usually don;t end up as strippers, jsQuote:
Originally Posted by maks
i dont think i want to leave this house. we just put in a 20k retaining wall and stone patio last year and i actually want to enjoy themQuote:
Originally Posted by Cams Purple Lambo
you've obviously never done this otherwise you would realize the insurance requirements for the llc + the interest rate on the home would be more than the 5% annual return.Quote:
Originally Posted by Cams Purple Lambo
the 5% SPECULATIVE annual return
If everything is not OK for me, Section 8 would be my Plan B.Quote:
Originally Posted by Cag.
cag what's your education level lets do some math problems together