" I own a home"

[BezO]

This.... The best thing to do would be to pay off a home in like 10 years ( or pay cash outright ) but people think that because they can get a house for the same amount as renting that its the smarter thing to do, but in most cases its not true, especially when you factor in interest on a typical 30 yr mortgage.

Also you could make more money by taking that "mortgage payment" and putting that in mutual funds or an index fund over the same timespan in most cases but hey what do i know

Payin' off a house is not always the best way to go. More investment to make the same profit in some situations. When capital is cheap, interest expense could be the cheaper route.

And makin' more in the stock market than real estate depends on the performance of both markets. My property has increased 64% in 5 years (I said 68% earlier). The market has not outperformed my property in that time.

And I don't think you're countin' what you will be payin' in rent along side that mutual fund investment. The outlay would be relatively twice as much.

 

[cleanface coney]

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.

lol i can barely understand this my nikka but i think i got the point

 

[Lord_Chief_Rocka]

I agree with the OP. I cant ever see myself owning a home.

1. I'm not having kids or getting married.
2. I'm lazy. My apartment complex just finished landscaping. They also just fixed my AC unit. I would have to do/pay for this myself if it was my house

 

[-G$-]

@Coney Island what kinda rates are you currently showing on your arms and in which terms? and where do you currently show 15 and 30 yr fixed?

 

[Cynic]

Payin' off a house is not always the best way to go. More investment to make the same profit in some situations. When capital is cheap, interest expense could be the cheaper route.

And makin' more in the stock market than real estate depends on the performance of both markets. My property has increased 64% in 5 years (I said 68% earlier). The market has not outperformed my property in that time.

And I don't think you're countin' what you will be payin' in rent along side that mutual fund investment. The outlay would be relatively twice as much.

I agree to an extent, if you are not an active investor/wealth seeker then this rings true...but


Real Estate will never out perform Pre-IPOs

You cant get 500-1000% returns in less than 3 years in real estate. Not even if you force appreciation on commercial property.

 

[cleanface coney]

@Coney Island what kinda rates are you currently showing on your arms and in which terms? and where do you currently show 15 and 30 yr fixed?

2.75 is lowest right now depending on your LTV and credit scores… 5/7/10 terms fixed on 30 year amortization schedule

of course that 2.75 is gonna come with points…ARMs are kinda hard to qualify for

15 year fixed 2.99

30 year fixed 3.75

 

[-G$-]

2.75 is lowest right now depending on your LTV and credit scores… 5/7/10 terms fixed on 30 year amortization schedule

of course that 2.75 is gonna come with points…ARMs are kinda hard to qualify for

15 year fixed 2.99

30 year fixed 3.75

what about 15 and 30 jumbos?

 

[Field Marshall Bradley]

A home is a potential investment, motherfukker. You can easily build equity in it and flip it. You can't build motherfukking equity in a rental, without subletting. And that's a stupid fukking move because you're already paying a 50-hunnet thousand trilli0n% mark up with the rent compared to the mortgage payment on the property.

Even if you buy a home to keep, at any time you can sell it/rent it out if you need cash. There are myriad things a homeowner can do with their investment. At the end of the day it is an investment, if you're going into real estate with the mentality of a nomad trying to find shelter, your ass is bound to drizzown.

Homes are good investments if you plan on renting them out... and even then you better pick the right one for the right price in the right area........

Otherwise, homes were never meant to be investments.......... especially not long term investments......

 

[BezO]

I agree to an extent, if you are not an active investor/wealth seeker then this rings true...but


Real Estate will never out perform Pre-IPOs

You cant get 500-1000% returns in less than 3 years in real estate. Not even if you force appreciation on commercial property.

Almost NOTHIN' outperforms decent IPOs. I did the off Wall St thing for a lil while. Made damn near as much on IPOs as I did in commissions.

But don't move the goal post though. That has nothin' to do with mutual funds or what the average person has access to. You ain't doin' those numbers with a mutual fund.

 

[↓R↑LYB]

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

I stay in Gwinnett/Fulton

 

[cleanface coney]

what about 15 and 30 jumbos?

3.99 on a 30

2.99 on a 15

the fees are crazy though, i tell my jumbo clients... if you can…. try to bring money to the closing because the point adjustments you get are crazy

 

[-G$-]

3.99 on a 30

2.99 on a 15

the fees are crazy though, i tell my jumbo clients... if you can…. try to bring money to the closing because the point adjustments you get are crazy

appreciate the info

 

[Field Marshall Bradley]

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

Do you mind briefly explaining the benefit of an interest only loan?

 

[Field Marshall Bradley]

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

CHUUCH

 

[cleanface coney]

appreciate the info

yea not a problem dog

keep in mind with interest rates…banks/lenders/credit unions are gonna tell you what you want to hear…so try not to be so rate driven they feed off of that

sometimes the lowest rate isn't the best move

also idk if you are shopping…. but if you are….request a lock-in agreement if you find a program/rate you like

if they can't provide a lock-in thats red flag