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  1. #31
    Registered User tripod29's Avatar
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    Imagine paying a mortgage or rent. Just LOL.
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  2. #32
    Registered boomer r32gojirra's Avatar
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    Originally Posted by Globally View Post
    Buying 4 properties at 25% down with 3% int mortgages is better than buying one property cash. By a mile.

    Paying cash for real estate is a LandTimothy move.
    Why does one exclude the other?

    You can access superior interest rates if you have unencumbered properties to anchor

    Poverty mindset strikes again

    Also in Australia only investment properties are a tax deduction

    So it makes sense to own you primary residence outright
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  3. #33
    Podunks Alt Account LtGoose's Avatar
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    Lol @ mortgagecels celebrating their 30 year debt contract
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  4. #34
    Pedicabo ego vos et irrum A-GAME's Avatar
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    I've never heard anyone say that, but okay. Regardless, the trick is to never sell. Why pay capital gains tax when you can hold forever? If you need the cash and have to sell then you have other problems.

    Originally Posted by tripod29 View Post
    Imagine paying a mortgage or rent. Just LOL.
    You can't live with your parents forever, boyo.
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  5. #35
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    Well, it's true for the most part. Only great when the home value increases if you are selling investment property or if it is your house, you are downsizing but only marginally better.
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  6. #36
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    I bought a house three years ago in south Florida for $440k, now the zillow estimate is at $562k. It's initially great to see but the fact is I'm not planning on moving, hopefully ever, so it really means nothing to me. The only thing thing the rising housing market means to me, is that my parent's house, my in-laws house, and my grandparents house, all also in south Florida are also skyrocketing, which one day will simply add a large cash value to my one-day inheritance. And the same regarding my house to my kids one day.

    My wife's family moved down to Miami in the 1920's and actually owned a house on Palm Island but sold it sometime in the 1950's or something. That house now could be in the $20-millions if they would have just held on to it...
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  7. #37
    I’m not 47 Globally's Avatar
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    Originally Posted by r32gojirra View Post
    Why does one exclude the other?

    You can access superior interest rates if you have unencumbered properties to anchor

    Poverty mindset strikes again

    Also in Australia only investment properties are a tax deduction

    So it makes sense to own you primary residence outright
    If you have X to spend on investment properties, you can buy 4X properties if you take out a 75% LTV mortgage on each. That’s basic arithmetic.

    My “poverty mindset” has resulted in me owning 6 properties totaling 2.8mm in value (1.6mm equity) rather than maybe owning 1 paid down property with your strategy.

    There is not one single finance person on the planet who would tell you to pay cash for a home when you could get a 3% interest rate mortgage. Even without the tax deduction it makes no sense.

    timothies and Dave Ramsey’s pay cash or aggressively pay down their mortgage and landchads use other peoples money to build a portfolio.

    This isn’t even a discussion worth having it’s not even close.
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  8. #38
    High Value Male Lefticle's Avatar
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    Originally Posted by 8pieces View Post
    rising prices are good for selling houses you already own. but if you are buying a house for a first time you already will lose value if the price drops especially at all time highs. get a mortgage worth 350k 5 years later your house is valued at 250k. basically paying 100k more for no reason
    Lmfao. I’ll keep buying houses and renting them out to you. And you’ll keep paying my mortgage, property tax, and them some.
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  9. #39
    Registered User Lastro's Avatar
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    Originally Posted by r32gojirra View Post
    Why does one exclude the other?

    You can access superior interest rates if you have unencumbered properties to anchor

    Poverty mindset strikes again

    Also in Australia only investment properties are a tax deduction

    So it makes sense to own you primary residence outright
    the money you would make off leveraging your money to buy multiple properties or even stocks would be much greater than whatever money you would save off tax deductions and lower interest rates

    i think you mentioned you were not incoprorated though, which helps explain whyy you think the way you think. i think that once you incorporate, you will be able to deduct a bunch of nonsense from your taxes (e.g. tens of thousands of dollars of depreciation every year).

    the only valid rationale that i can think of behind buying a house cash would be that you want to keep your investment money separate from your spending money, and therefore want a personal cash flow that is not hampered by personal (as opposed to corporate) mortgage payments
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  10. #40
    Registered User Anachron's Avatar
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    Originally Posted by Globally View Post
    My “poverty mindset” has resulted in me owning 6 properties totaling 2.8mm in value (1.6mm equity) rather than maybe owning 1 paid down property with your strategy.
    How cute.

    Spoiler!
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  11. #41
    Fuk off, Lahey! LargePeter's Avatar
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    Originally Posted by r32gojirra View Post
    Lol everytime

    Did it occur to these idiots that people own multiple investment properties and just engage in profit taking when the market is hot?
    The only issue I have is taxation, and the fact that if you sell an investment property to fund a lifestyle - especially approaching retirement - that will limit or eliminate your dependence on government funded pensions in your twilight years, you get taxed up the ass for your efforts.
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  12. #42
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    Originally Posted by LtGoose View Post
    Lol @ mortgagecels celebrating their 30 year debt contract
    I bought my house over 4 years ago fairly cheap, and refinanced it late last year @ 2.365% I basically got the best of both worlds. Paying the loan back will be easy with inflation going crazy in the future, but that all hinges on wages going up with has historically been the problem.
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  13. #43
    Some idiot MrBourbon's Avatar
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    I had a roommate years ago tell me that he drove expensive cars because "you're always going to have to have a car payment every month anyway".

    Lol I paid cash for a ~5k mile used card and didn't have a car payment for a decade. Like yeah if you want to drive new/nice cars, but you HAVE to have a monthly payment?

    Dude made $100k and lived paycheck to paycheck some people are legit financially retarded.
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  14. #44
    Registered boomer r32gojirra's Avatar
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    Originally Posted by Globally View Post
    If you have X to spend on investment properties, you can buy 4X properties if you take out a 75% LTV mortgage on each. That’s basic arithmetic.

    My “poverty mindset” has resulted in me owning 6 properties totaling 2.8mm in value (1.6mm equity) rather than maybe owning 1 paid down property with your strategy.

    There is not one single finance person on the planet who would tell you to pay cash for a home when you could get a 3% interest rate mortgage. Even without the tax deduction it makes no sense.

    timothies and Dave Ramsey’s pay cash or aggressively pay down their mortgage and landchads use other peoples money to build a portfolio.

    This isn’t even a discussion worth having it’s not even close.
    Lmao whatever helps you sleep at night boyo

    Sold 3 properties this financial year alone

    Might close out a fourth

    Always easier to cop a good deal on the land when you aren’t messing around with appraisals and dropping straight cash
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  15. #45
    Registered User Destor's Avatar
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    ^^ Well throwing more cash at a mortgage can also reduce your debt-to-income and service ratios, expanding your ability to assume more mortgages. And if you want to go the 140 IQ route, you can throw cash at a mortgage and then use a low interest HELOC to buy more.
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  16. #46
    Registered User Anachron's Avatar
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    Originally Posted by destor View Post
    ^^ well throwing more cash at a mortgage can also reduce your debt-to-income and service ratios, expanding your ability to assume more mortgages. And if you want to go the 140 iq route, you can throw cash at a mortgage and then use a low interest heloc to buy more.
    brrr
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  17. #47
    Wizard llama (っ◕‿◕)っ suave2000's Avatar
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    This is why you shoul always own more than one property and also that's why land, not houses themselves is always a solid investment.

    Buy a property as your home base
    Buy more properties when the market is cold and sell when hot for profit
    Buy LAND in future growth areas to develop in the future, always be on the look for and buy land, it's a better investment in the long run than finished properties as you can develop them and make profit on the land, construction and sale of the finished product

    LAND boyos that's where it's at.
    Last edited by suave2000; 04-10-2021 at 08:12 AM.
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  18. #48
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    Originally Posted by suave2000 View Post
    This is why you shoul always own more than one property and also that's why land, not houses themselves is always a solid investment.

    Buy a property as your home base
    Buy more properties when the market is cold and sell when hot for profit
    Buy LAND in future growth areas to develop in the future, always be on the look for and buy land, it's a better investment in the long run than finished properties as you can develop them and make profit on the land, construction and sale of the finished product

    LAND boyos that's where it's at.
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    GTFO out of our richcel thread you poverty phaggit living in a poverty country. Go take your socialist ass to Venezuela and see how investing in property there goes. I could go to your country and buy your entire family you poverty phaggit.

    Also don't talk about investing you socialist phaggit. You should be talking about "wealth distribution" you autist.
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  19. #49
    Wizard llama (っ◕‿◕)っ suave2000's Avatar
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    Originally Posted by frezKo View Post
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    GTFO out of our richcel thread you poverty phaggit living in a poverty country. Go take your socialist ass to Venezuela and see how investing in property there goes. I could go to your country and buy your entire family you poverty phaggit.

    Also don't talk about investing you socialist phaggit. You should be talking about "wealth distribution" you autist.
    I can be both a communist and wealthier than you son (which I am btw)

    You sound very mad , take a nap and come back later boyo.
    When you come to think of it, almost all human behaviour and activity is not essentially any different from animal behaviour. The most advanced technologies and craftsmanship bring us, at best, up to the super-chimpanzee level. Actually, the gap between, say, Plato or Nietzsche and the average human is greater than the gap between that chimpanzee and the average human.

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  20. #50
    Gooner for Life frezKo's Avatar
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    Originally Posted by suave2000 View Post
    I can be both a communist and wealthier than you son (which I am btw)

    You sound very mad , take a nap and come back later boyo.
    Imagine thinking being rich in Peru means anything









    Combined with my vanguard account I'm worth over 350k right now with Bitcoin hitting 60k this morning.

    I'm more rich now than you'll ever be you phaggit.


    My goal is to be a millaionre by 30 years old while you legit are barely scraping by in Peru aged 31.

    Povertycel detected


    Go cry about socialism somewhere else you phaggit

    trying to by a rental property this year as well.
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  21. #51
    Wizard llama (っ◕‿◕)っ suave2000's Avatar
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    Originally Posted by frezKo View Post


    My goal is to be a millaionre by 30 years old
    millaionre

    millaionre

    MILLIAIONRE

    LOL

    maybe when you're wealthy you'll get to afford and education, lol. Do you have pictures of your accounts saved in order to "own" strangers on the internet? LMAO you're pathetic son.

    btw LOL @ thinking that having 350K is being "wealthy" that's poorcel menatlity right there.
    When you come to think of it, almost all human behaviour and activity is not essentially any different from animal behaviour. The most advanced technologies and craftsmanship bring us, at best, up to the super-chimpanzee level. Actually, the gap between, say, Plato or Nietzsche and the average human is greater than the gap between that chimpanzee and the average human.

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  22. #52
    ToningWasTooHarshForMe atgbrahsrs's Avatar
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    Originally Posted by frezKo View Post
    Combined with my vanguard account I'm worth over 350k right now with Bitcoin hitting 60k this morning.
    it depends relatively that is why these threads are irrelevant just lol at you proving to him your net worth - communist dictators head of gov owned everything in a country actually

    I am worth 66% of what you are (edited for mistake) at age 24 from inheritance alone in a country where everything is cheaper but it is about how much you have and whether the investment is safe


    although the principle in the OP is correct, rentceldom IMHO is always a LOSS unless:

    a) you want flexibility and capital to be invested somewhere else more important for you (education etc) instead of a downpayment at this stage of your life

    b) somehow you have other types of investments that give you better returns with similar risk
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  23. #53
    Gooner for Life frezKo's Avatar
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    Originally Posted by suave2000 View Post
    millaionre

    millaionre

    MILLIAIONRE

    LOL

    maybe when you're wealthy you'll get to afford and education, lol. Do you have pictures of your accounts saved in order to "own" strangers on the internet? LMAO you're pathetic son.

    btw LOL @ thinking that having 350K is being "wealthy" that's poorcel menatlity right there.
    110k-130k a year and work as a structural engineer. (Total comp based on end of the year bonus)

    More educated than you'll ever be.

    I'm 4 years younger than you and worth more money than your family. (srs)

    Originally Posted by atgbrahsrs View Post
    it depends relatively that is why these threads are irrelevant just lol at you proving to him your net worth - communist dictators head of gov owned everything in a country actually

    I am worth 66% of what you are (edited for mistake) at age 24 from inheritance alone in a country where everything is cheaper but it is about how much you have and whether the investment is safe


    although the principle in the OP is correct, rentceldom IMHO is always a LOSS unless:

    a) you want flexibility and capital to be invested somewhere else more important for you (education etc) instead of a downpayment at this stage of your life

    b) somehow you have other types of investments that give you better returns with similar risk

    I think my investments are going to 5x and 10x over the next 3-5 years (srs)

    I'm that confident. That's why I haven't pulled the trigger on buying a rental property.

    My parents own 2 rental properties and live off of them after they paid the mortgages off a few decades ago. My mother hasn't had a job in over 10 years (srs)

    Need to follow my parent's footsteps (srs)
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    Originally Posted by suave2000 View Post
    This is why you shoul always own more than one property and also that's why land, not houses themselves is always a solid investment.

    Buy a property as your home base
    Buy more properties when the market is cold and sell when hot for profit
    Buy LAND in future growth areas to develop in the future, always be on the look for and buy land, it's a better investment in the long run than finished properties as you can develop them and make profit on the land, construction and sale of the finished product

    LAND boyos that's where it's at.
    Of course, it helps if said land is not in a third world chithole.
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    Originally Posted by Anachron View Post
    Of course, it helps if said land is not in a third world chithole.
    reps on spread.

    Imagine bragging about land in peru.

    Pretty sure I can buy thousands of acres of land in peru with my net work (srs)

    Poverty country
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    Originally Posted by BigDeeps01 View Post
    Yes but if I am buying a house with a minimum down payment, and then I am reselling that house a year or so later for a profit, my ROI is based off what I actually put into it right, not the price of the house?

    /thread.

    I mean the context of that logic is pretty clear...no **** if its an investment vehicle, higher is better.
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  27. #57
    Wizard llama (っ◕‿◕)っ suave2000's Avatar
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    Originally Posted by frezKo View Post
    reps on spread.

    Imagine bragging about land in peru.

    Pretty sure I can buy thousands of acres of land in peru with my net work (srs)

    Poverty country
    I'm not Peruvian, my family is not Peruvian... I 'm not in Peru so...? I just put that in my location because it drives simple minded, uncultured small dicked rednecks such as your self LIVID for some reason. They just cant accept a "Peruvian" disagreeing with them, thanks a lot for the entertainment kid you're making LOL incredibly hard with your blatant insecurities and internal rage (yo DO have a small dick do you?)

    Anyway thanks for the laughs, and no. You're not wealthier than I am, unlike you my plebcel friend I come from an aristocrat lineage . Keep coping and work on those anger issues (srs) they won't do you any good in life and you'll just become more bitter and bitter over time. Thanks for the laughs again, It makes me so entertained when plebcels get IRATE at the thought of a Peruvian communist having a different opinion than theirs .
    When you come to think of it, almost all human behaviour and activity is not essentially any different from animal behaviour. The most advanced technologies and craftsmanship bring us, at best, up to the super-chimpanzee level. Actually, the gap between, say, Plato or Nietzsche and the average human is greater than the gap between that chimpanzee and the average human.

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  28. #58
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    just lol at mortgagecels coming up with every excuse to keep paying 1k+ a month for 25 years. ohhhh it will be worth 10x as much in 3 years!!1 ohhh i will sell it for so much profit!!! ohh lol i own it!!!

    brb they pay 1700 a month for a house and i pay 900 for an apartment and invest the rest. we both sit in a room and internet, JUST LOL
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  29. #59
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    Originally Posted by BigDeeps01 View Post
    Oh man, he may have to add 1-2 roommates, if he's able to afford rent at all
    You never really "own" any of your properties anyway. And the way it's going you might be housing some "climate refugees" whether you like it or not in the next 10-15 years.
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    Originally Posted by LtGoose View Post
    Lol @ mortgagecels celebrating their 30 year debt contract
    We all have to pay for a place to live. The difference is I'm locked in at sub $600 per month on a 1875 square foot home + garage for the next 30 years. Check back in over the next 10, 20 and 30 years and lets see what your paying.


    Got my rate low by getting enough equity into my home then refinancing at this juicy low rate.


    Can't help but lol at rentcels. Rent houses in my area the size of my home are now at 1850 per month.
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