So dudes on the coli really think owning is more important than money lol.

[Conan]

I have not clue what this thread about, nor whose right, but it feels kinda important

For people who think having a mortgage makes them better than others.

 

[-DMP-]

For people who think having a mortgage makes them better than others.

I have a mortgage and I also rent so I guess that’s why I took interest in this convo

 

[fifth column]

This isn’t how credit works.


Money sitting in the bank has zero affect on your ability to get loans. Zero. Deposit as a % of a mortgage does have an affect.


So loans and credit cards are given based on your credit score and ability to pay it back (mostly income).

Loan example 1: So you can have zero in the bank account but if you are a high earner with good credit banks will loan you 50k easy.

loan example 2: if you have 100k in the bank. But poor credit and average earning. You will find it harder to get that 50k loan. It’s not about cash in the bank. It’s about the bank thinking you can pay it back ans that comes from income and credit.


Mortgage example: say there’s a property for 200k. Someone with great credit and great income can get that house work a 10% 20k deposit. The person with bad credit and a high income might need to put down 60k for the same property to get the mortgage.

if you want to borrow for loans having cash is meaningless. If you want to borrow for a mortgage - cash is great - but having assets, credit etc. can mean you need to spend less cash.

In the context of my example, 200k in the bank means you can put more down than someone with merely 10k. I’m talking about what someone brings to the table for a loan not just what they have in their bank account.

 

[RTF]

In the context of my example, 200k in the bank means you can put more down than someone with merely 10k. I’m talking about what someone brings to the table for a loan not just what they have in their bank account.

Why would you want to put down more money for an asset worth the same amount?

The extra money you've put down could be used to take advantage of another opportunity.

 

[mag357]

I guess I didn't have to say it....
First page did enough

 

[mag357]

Ok... Y'all got to deep with this shyt
But it's simple.
Money is worthless...it's paper.
Credit is worthless.

The items that you can obtain with those things have value to you.

That's why you're supposed to feel good with money in your account because you know that you can buy more things you need.
But nowadays, having the money or seeing the number amount on a bank statement is more important to people.

You could have a billion dollars in a room.
Because it's only as valuable as the things u can buy with it.
What happens when the value of things change, or if the world has a major disaster.
The money in your account won't get you shyt.
The things you could have bought with it would be more important to you

 

[Renegade47]

Why not just get cash and get ya credit up you don't have to pick this ain't Celtics vs lakers nikka

cus if you have the cash you dont need credit. credit is for the poor

 

[fifth column]

Why would you want to put down more money for an asset worth the same amount?

The extra money you've put down could be used to take advantage of another opportunity.

I get what you are saying if we were taking a class but that’s not how real world making money works. Real opportunities to cash flow are rare so when you find one then you have to go all in and secure it. The hedging on another opportunity will guarantee that you don’t make any real money.

 

[tuckgod]

I don't think that's his point. Judging by his name I'm guessing has money but isn't able to buy property, and is tired of being flexed on by middle American home owners.

 

[RTF]

I get what you are saying if we were taking a class but that’s not how real world making money works. Real opportunities to cash flow are rare so when you find one then you have to go all in and secure it. The hedging on another opportunity will guarantee that you don’t make any real money.

Bro 99% of property investors utilise mortgages. They also like to have cash around for renovations or other purchases.

Cash buying entire properties is for people with fukk it money like richArabs, billion dollar companies or people trying to clean their dirty money.


Do you own more than 1 property or know people that do closely? Cos what you’re saying is simply not true.

 

[fifth column]

Bro 99% of property investors utilise mortgages. They also like to have cash around for renovations or other purchases.

Cash buying entire properties is for people with fukk it money like richArabs, billion dollar companies or people trying to clean their dirty money.


Do you own more than 1 property or know people that do closely? Cos what you’re saying is simply not true.

I can’t keep up with your argument, you all over the place. I never said nothing about buying all cash properties. My argument is that cash is king especially for opportunities. When you find a great opportunity you have to go all in and not worry about other potential investments. As far as these coli property investment strategies I know nothing about. I don’t own any properties as a landlord and don’t want to unless it’s a fund, I stick to investments that cash flow. I live in NYC and like the apartment lifestyle. I just bought some lady’s website 7 months ago for 1400 that is already making me 2500-3000 a month and many little cash flow situations like this so not into this whole real estate mogul game. Find a simple idea and take it serious is the best advice I ever got. It’s 2021 and y’all still trying some old school methods that’s hard to make extra money.

 

[RTF]

I can’t keep up with your argument, you all over the place. I never said nothing about buying all cash properties. My argument is that cash is king especially for opportunities. When you find a great opportunity you have to go all in and not worry about other potential investments. As far as these coli property investment strategies I know nothing about. I don’t own any properties as a landlord and don’t want to unless it’s a fund, I stick to investments that cash flow. I live in NYC and like the apartment lifestyle. I just bought some lady’s website 7 months ago for 1400 that is already making me 2500-3000 a month and many little cash flow situations like this so not into this whole real estate mogul game. Find a simple idea and take it serious is the best advice I ever got. It’s 2021 and y’all still trying some old school methods that’s hard to make extra money.

Aight man. If you making a killing doing what you're doing that's great.

My only point is - one way to ensure you always have good cash flow.... is not spending all of your cash on investments if you don't have too and the opportunity for immediate return is not there.