whats the most you've ever had in your bank account?

[Ego Noir]

well i cant just sell a council house can i

i still dont understand how you got together 300k to buy a house in the first place

Vast majority of people don't buy a house outright. Only the very wealthy do that.

You mortgage it. Which only requires a 10-20% down payment. So all you have to get is $30k then you can "buy" it

Spoiler

its like a mafia racket, but this one is legal..

 

[yo moms]

Vast majority of people don't buy a house outright. Only the very wealthy do that.

You mortgage it. Which only requires a 10-20% down payment. So all you have to get is $30k then you can "buy" it

Spoiler

which IMO is one of the best rackets conjured up by society. Up there with this college thing

so how does that work? if you only own part of the house you can sell it and take all the money?

 

[Non Sequitur]

$1.5M doing the Los Santos Customs Glitch

Tell me more

 

[Ego Noir]

so how does that work? if you only own part of the house you can sell it and take all the money?

You finance the house.

You pay the 30k down. Then they put your name on the title saying you 'own' it. And you pay a monthly mortgage payment. On 300k it's something like $2000/mo

...for 30 years

But if you at any point miss payments for 3 months in a row they can foreclose. Meaning take the house back from you.

 

[yo moms]

You finance the house.

You pay the 30k down. Then they put your name on the title saying you 'own' it. And you pay a monthly mortgage payment. On 300k it's something like $2000/mo

...for 30 years

But if you at any point miss payments for 3 months in a row they can foreclose. Meaning take the house back from you.

so how much money do you get if you sell it?

 

[Ego Noir]

so how much money do you get if you sell it?

If you sell it you have to pay off the bank first. If there's anything left then you keep that.

God help you if the economy goes down, then you'll owe more on the house than its worth

 

[69 others]

so how does that work? if you only own part of the house you can sell it and take all the money?

wait you didn't know that almost all home owners pay for their homes through mortgages. you really think millions of americans paying all cash for these 100k+ houses. it's like a car lease, it's yours to do want you want as long as you keep up with the payments which includes selling it and as someone said above you can make a profit as long as your total payments is less than the price you sell it at

 

[Sad Bunny]

2000


im so broke lol

but I will be 26 on Dec. 14

ill be debt free and have thousands in my account withinn 2 years

I am on a mission brehs

 

[SwagKingKong]

a little over 6k

spent most of it on furniture and stuff when i moved into my new place

now im at around 3k, moving up slow since im still in college

 

[Theraflu]

@Ego Eimis and @manwhatthefukk thanks for explaining this shyt to @yo moms

I made a profit when I sold my first home because by then I had built significant equity.

That's how a normal every day dude like me can end up with such an amount in his account

OFCOURSE it's gone now as i used it as a deposit for my second house.

 

[Theraflu]

I live in New York.

Well I live in Berlin and I looked at house prices in NYC (hefty). I'm pretty certain that you don't plan on renting for life.

When u wanna buy ur house I'm sure ur gonna build up a good deposit.

Will 60k in your bank 4 an NYC deposit be unrealistic then

 

[yo moms]

wait you didn't know that almost all home owners pay for their homes through mortgages. you really think millions of americans paying all cash for these 100k+ houses. it's like a car lease, it's yours to do want you want as long as you keep up with the payments which includes selling it and as someone said above you can make a profit as long as your total payments is less than the price you sell it at

i know what a mortgage is you dumb fukk.

 

[Fillerguy]

300

 

[RadaMillz]

In one year I managed to save 20k as a security guard and a student.

I've always been good with money, heck sometimes I don't even think I have money in the bank. My brotha saw my atm receipt and now thinks he can get me to spend lol

 

[69 others]

i know what a mortgage is you dumb fukk.

you know what a mortgage is yet you miss the concept of not paying the full asking price for a house out of pocket and being able to sell it while not fully paying for it before the sale get your dumb ass the fukk outer faggit