" I own a home"

[BaldingSoHard]

if you live in the northeast you getting raped in property taxes

especially new jersey and massachusetts

i would only live in those places if i had crazy bread

I've heard ridiculous things about NJ taxes.

 

[Edub]

depends on their situation

i'll say this though….90 percent of people are NOT gonna pay off their mortgage

i would never get a fixed rate unless its a 10-15 year…ARMs are the way to go

i refinance people all the time already 10 plus years into a mortgage…but wanna go back for various reasons(some reasons smart some dumb)

america is so debt heavy its crazy…it really just depends on the person

at the same time if you want ownership in something…a house is the safest investment…its the only thing i would buy once that i couldn't buy twice….other than that just know what you doing.. but most people don't lol

ARMS are the way to go...but u gotta stay on top of your shyt with them...gotta watch the LIBOR rate adjustments so you know what your mortgage will be...most people aren't able to flip and sell during the fixed rate period

 

[↓R↑LYB]

Hear brags like that bullshyt too often yo unless your mortgage is paid off you're essentially paying to the bank. Then once it's paid off you still pay taxes and they'll take that shyt and throw you in jail if you don't pay up. The ownership scam brehs pay into it until you're to old and end up dying in that shyt making it an over priced coffin

 

[cleanface coney]

I've heard ridiculous things about NJ taxes.

yea dog new jersey is crazy i don't see how those people do it

they always go crazy when i tell them what people pay in other states

 

[↓R↑LYB]

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.

And when you sell it, you get to keep 100% of the profits tax free (up to 250,000 if you're single and 500k if you're married).

Stay woke brehs

 

[↓R↑LYB]

For yall doing well in home ownership, how many of you live in black communities?

*raises hand*

 

[cleanface coney]

ARMS are the way to go...but u gotta stay on top of your shyt with them...gotta watch the LIBOR rate adjustments so you know what your mortgage will be...most people aren't able to flip and sell during the fixed rate period

most people don't care about anything but the interest rate on a fixed 30 year…thats all they hear because of advertising

thats why its situational on if you should own a home…most people close and just make their payment

the people who keep up with ARMSs, interest only loans, taking advantage of equity etc…. usually are successful in life and most of the time are the people paying off their homes hate to say that but its true lol

 

[dark_magic]

I know exactly how much is paid in taxes where I live, because I pay them

ive taken the time to calculate, that it would cost the about the same to rent a room here year round, as it would to pay the annual taxes..

once again, the point of the thread was that all these people claiming to "own" a home.. DON'T

either the bank really owns it and you're paying on it, or the government will come and take it as soon as you can't afford the taxes. that's not true ownership

Let's look at this from a (common) law perspective:

The land is held absolutely by the territorial sovereign.

This stems from the English Common Law doctrine that the king owns all land by radical title.

Subjects (citizens) hold (tenure) an abstract of the land titled an estate.

The representation of this grant is a deed. There are six different types of deeds in the U.S.
The deed has rights attached there to. These bundles of rights are called titles. A title is a bundle of rights.

In addition to rights, there will be obligations attached to ownership of this abstract. In medieval times, it may have been serving in the king's army, paying a quit-rent, or paying a rent charge.

Today, this obligation, in part, is taxes assessed by the county. The county being an administrative sub-division of the state. The state being a (public) corporation.

We could get into the financing aspect of all this from a legal perspective, but I'll save that for later if anyone is interested.

If anyone is interested, ask me about land patents.

 

[The Coochie Assassin]

*raises hand*

Was it u or somebody else who lived in Cobb County?

Oh yeah I sent u my blog months ago and u told me u was gonna give me feedback on it but never did

 

[Zero]

Rule 1 of real estate:

Location, location, location.

 

[Edub]

most people don't care about anything but the interest rate on a fixed 30 year…thats all they hear because of advertising

thats why its situational on if you should own a home…most people close and just make their payment

the people who keep up with ARMSs, interest only loans, taking advantage of equity etc…. usually are successful in life and most of the time are the people paying off their homes hate to say that but its true lol

Right...the financial system is designed for the advancement of educated risk takers for the enlargement of the market in general. A cat that takes an ARM loan and flips the home during the low fixed rate period and sells for a profit will easily be able to repeat the same steps for continued profit. But most people don't take risks and would rather have a 30 year death plan at a fixed rate...and with credit averages today that rate isn't great. There's a proper way to approach this system for guaranteed success

 

[cleanface coney]

Right...the financial system is designed for the advancement of educated risk takers for the enlargement of the market in general. A cat that takes an ARM loan and flips the home during the low fixed rate period and sells for a profit will easily be able to repeat the same steps for continued profit. But most people don't take risks and would rather have a 30 death plan at a fixed rate...and with credit averages today that rate isn't great. There's a proper way to approach this system for guaranteed success

lol if i talk to 10 people…8 go when i mention ARMs..they don't realize they getting killed on a 30 year fixed

both my director and my RVP got ARMs(both millionaires)

shyt if i buy…I'm going interest only…i don't give a fukk…if i wanna pay it off ill pay it off when i want to i got better things to do with my bread

i will never let financing a car or house dictate my life, i see it everyday

 

[-G$-]

Breh not on Long Island the taxes alone got you in a choke hold

lol fax

 

[Marl0 Stanfield]

yea dog new jersey is crazy i don't see how those people do it

they always go crazy when i tell them what people pay in other states

Truthfully, you shouldn't own a home unless you have a retirement package and/or ownership in a business. At least an LLC.

Then configuretabucalculitate ur mortgage, insurance, ppty txs up to 30-35% of ur income separate from investments. You shouldn't even be configurflagellating that shyt when you're looking for a trap house. That's extra shyt u bring to the table once you find the trap house you want based on ur income so you're guaranteed to be approved for your little bullshyt loan.

Do a thutty-thutty-thutty n come to the table with 30% down, 30 yr fixed, at 30% of your income n put another 5-10% into equititty.

If you live in a non-flyover state, you can rent ur shyt out during the summer n holidays. Just put aside ur rent or timeshare fees or whatever cracker bullshyt you got for your lil pissant vacay with your pissant stank coochie ass wife and charge at least double ur mortgage for rent of ur crib.

Put all ur shyt into storage and have your loser fgt emo Gumby haircut having assed nephew go check on ur shyt each month for a hunnet and report any bullshyt to you. If you set up your LLC you can do some creative shyt tacks-wise with your various expenses ie goddamned FiOS bills being used as rightovs cuz a nga is forced to communicate to ur patnaz n ur wack ass nephew with the internet and phone regarding biz, and your fgt nephew having to use gas to make trips and having to store your shyt in fukk nga st0rage.

 

[Edub]

Well...ARMS in my opinion require a little more financial preparation from the buyer because if the fixed period ends and you still hold the loan you gotta be prepared for your rate to jump, and sometimes that jump is violent. Gotta have cash on hand to cover whatever payment. But with good credit that payment should be reasonable anyway. With arms...the best thing to do IMO is ensure the area you're buying in has a stable value property wise, first, make sure it has good resale ability, and keep good credit to ensure the rate you're paying is low...add in a decent rehab crew (maybe family) and you got yourself a viable house flip biz