" I own a home"

[Perpetual Beast]

It all depends..... it really does.

Rent, if you're willing to make sacrifices,( which if you're young you should since these are the years where you have energy to put in big hours) can be great for having/saving immediate funds. This is the coli, so everyone here is the second coming of Mark Cuban and have all these big ideas for companies they want to start, but for the realistic 2% that aren't mental masturbators and actually get shyt done, you can see why having immediate capital would be a better investment vs say a home.

You're a computer technician, have excellent expertise/mastery, but know in order to take it to the next level you're going to need some cash; 20k to expand vs 20k on a down payment. One of these will prove to have a higher ROI in a shorter time frame.

Owning a home is always ideal in the sense that, if you lost everything tomorrow, at least you have your ass covered because you have collateral. Also, the obvious of the equity and "paying yourself", etc.

Point is...it's not as black and white as folks are making it seem in this thread (no pun intended) and depending on circumstances it could go either way.

 

[Sad Bunny]

i wouldn't trade owning my home for anything i have a yard, i built a fire pit, i built a garden and grow flowers and vegetables. i used to have a pitbull and a GF in a 2BR and no space and now i have a giant basement full of music gear and golf stuff and all kinds of shyt. i mean i'm going to have this place paid off in 14 years and by then i'll be 46 but then i'll sell it and buy another one.

Dope

Yeah I can't wait to customize my shyt and all that

And I want something to leave to my kids so they always have a place to call hone

I never had that

 

[Malta]

Real talk, but its funny..although I realize this it makes me more ambitious lol. The best thing money can buy is time. So i'd rather bust my ass now so I can be done with this shyt by my 40s. I'm talking to this chick who lives in Goias, the interior of Brazil. Seems like a nice spot, good location. Might get some land there and start a village

Exactly, I cut back on a lot of my spending and bills a few years ago, no debt at all and the plan is to buy land in one of the countries I used to frequent.

Colombia, Brazil, DR, South Africa, Panama, Belize etc

lmao, exactly breh.
You got people spending half a mil on condominiums.
Meanwhile in DR I know a guy selling 55 acres for 40 grand. And I'll bet he'll take 35. Yeah you gotta build your house on it afterwards, but still....

Yeah, it's all about thinking outside the box, people are too focused on following the trail already set.


My friends' parents retired to DR 3 years ago, they own a house outright there and never owned one in the US, always rented. She (Dominican) was a social worker and he was a short order cook living off his veteran benefits.

 

[Sad Bunny]

You dont truly own anything, life is one big game of monopoly. And the US government is the banker.

Once I realized we essentially work for money just to give it right back through bills, frivolous objects, basic necessities, etc....I was like

You know the funny thing about the rat race? Even if you win, you still a rat

Real shyt

Call me cynical but this is the reason why I'm not into flashy clothes jewelry or none of that shyt

I enjoy my video games and big tv. shyt that keeps me happy and entertainmed. Much rather spend 300 on a plane ticket rather than some fukking LeBron James sneakers

 

[Sunalmighty]

Again, I agree with you on land and a business, but not median homes which is what the vast majority of people in this thread are talking about. Your kids aren't building wealth selling some $170,000 home in Ohio after you're dead, they're going to be able to retire sooner and that's really about it




That's not the world we live in, it's the country we live in. @chefmate7days is a fellow #Vagabondboy aka, someone that will leave the US before they're 45 and retire with a fully paid off cheaper home in another country while people his own age are living that American dream working till they're 70 paying off the mortgage and kid's tuition.

Dude what you said is irrelevant. Anyone with SENSE knows if they have purchased property and it has accumulated EQUITY over the years can sale, relocate and RETIRE in another country. You can do that BEFORE you're 45 also. People do that everyday, nothing new under the sun.

 

[Malta]

Dude what you said is irrelevant. Anyone with SENSE knows if they have purchased property and it has accumulated EQUITY over the years can sale, relocate and RETIRE in another country. You can do that BEFORE you're 45 also. People do that everyday, nothing new under the sun.

I forget this is the Coli sometimes, reality is the average American retires around 65, on the Coli everyone is retiring before 45 because they're all real estate czars that have amassed a huge portfolio of buildings and land.

 

[BaldingSoHard]

I forget this is the Coli sometimes, reality is the average American retires around 65, on the Coli everyone is retiring before 45 because they're all real estate czars that have amassed a huge portfolio of buildings and land.

Of course. If you haven't retired by 45 you're a failure at life.

at having accumulated enough wealth to live on for another 30-40 years by the time you're 45.
I love / hate this site sometimes.

 

[Sunalmighty]

I forget this is the Coli sometimes, reality is the average American retires around 65, on the Coli everyone is retiring before 45 because they're all real estate czars that have amassed a huge portfolio of buildings and land.

you dont have to be an estate czar. I never said That. Invest your money WISELY. Where i work i make a decent salary. But the BEST investment Ive EVER made was purchasing a foreclosure back in 2009 using my Veterans Loan. Ive remodeled and the end result is unbelievable. No money down. I paid 112k and when i sell im gonna profit 140-150k easily. What am I gonna do with that profit? Use my Veterans loan to use zero down and avoid pmi, use the profit to REINVEST and get a start on retirement. One of the reasons folk in America cant get ahead is because of debt.

 

[BaldingSoHard]

you dont have to be an estate czar. I never said That. Invest your money WISELY. Where i work i make a decent salary. But the BEST investment Ive EVER made was purchasing a foreclosure back in 2009 using my Veterans Loan. Ive remodeled and the end result is unbelievable. No money down. I paid 112k and when i sell im gonna profit 140-150k easily. What am I gonna do with that profit? Use my Veterans loan to use zero down and avoid pmi, use the profit to REINVEST and get a start on retirement. One of the reasons folk in America cant get ahead is because of debt.

Hang on a second....

You're gonna have 150k in your pocket, and put zero down on your next home?

 

[Sunalmighty]

Hang on a second....

You're gonna have 150k in your pocket, and put zero down on your next home?

Why not. My mortgage is 796.00. I afford that comfortably. Im frugal bruh. I can go to texas now and get another FORECLOSED house for ZERO DOWN using my VA Loan. Using my veterans loan i AVOID PMI and i dont have to have a down payment. Benefit of serving in the military. In Texas thr property taxes are higher but there is no state income tax. I can easily have the same mortgage or something a tad bit higher if i want to spend a bit more. If i get a house for 180k why in the hell would i give the banks 36k (20%) just to lower my mortgage by a couple hundred bucks. Use a mortgage calculator. I can keep my profit and REINVEST into other real estate. What would you rather do give the banks damn mear 40k of your money to lower your mortgage a couple hundred OR take your profit from your prior sale and make other moves. Like I said before Texas has no state income tax so the property taxes are higher to balance out. But If your not a military veteran you cant qualify for a no money down loan. Ive been learning about real estate for a while. Yall niccas need to start reading.

 

[BaldingSoHard]

Yall niccas need to start reading.

Breh, I've been in the mortgage game since 2003 so... just stop with that holier than thou nonsense.

At any rate, it comes down to personal preference. Just wanted to hear your thoughts on the matter. If it were me buying a 180k home, I'd probably put half down and do a 5-year loan. Basically no interest paid and be free and clear before 2020, but again it's personal preference.

 

[Sunalmighty]

Breh, I've been in the mortgage game since 2003 so... just stop with that holier than thou nonsense.

At any rate, it comes down to personal preference. Just wanted to hear your thoughts on the matter. If it were me buying a 180k home, I'd probably put half down and do a 5-year loan. Basically no interest paid and be free and clear before 2020, but again it's personal preference.

I wouldn't do that unless i have that much wealth or i plan on living there forever. I can use my veterans loan forever as long as i sell the property or its paid off. I was going tl buy a brand new house once we relocate but why should i? I can get a foreclosed home and negotioate with the banks. Get some concessions and keep it moving. Put some money into it. I had to wait for my house to gain equity but now the comps within .5 miles are letting me know its time to make a move.

 

[BaldingSoHard]

I wouldn't do that unless i have that much wealth or i plan on living there forever. I can use my veterans loan forever as long as i sell the property or its paid off. I was going tl buy a brand new house once we relocate but why should i? I can get a foreclosed home and negotioate with the banks. Get some concessions and keep it moving. Put some money into it. I had to wait for my house to gain equity but now the comps within .5 miles are letting me know its time to make a move.

Well if you're just buying properties to build equity and cash out then sure, that's the obvious move.
But... be careful because it may catch up to you eventually.

And you DO have that much wealth, btw.

 

[fscballin]

You dont truly own anything, life is one big game of monopoly. And the US government is the banker.

Not if y o u become a private banker, but if I don't have a million rep points y'all will ignore this and my previous post in the thread.


If y'all only knew

 

[itsyoung!!]

ive lived on my own most of my 20s.. in california, bay area.. easily paid over $60,000+ in rent.. to some shyt I dont own.. When I got hired at AT&T at 21 I regret til this day of just not staying home and stacking for A FEW months (this was in 2008 when the market was crashing) and buying my own house.. instead I wanted the nice ass apartment in the gated community and all the amenities etc that came with it. Regret it all the time.