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» Imagine being a homeownercel and actually thinking your home is worth it's estimate
  1. Results 1 to 18 of 18
post 1676940343 02-10-2023, 03:39 PM
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  1. TryingMen
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Imagine being a homeownercel and actually thinking your home is worth it's estimate

brb bought my house at $500k in 2019
brb Zillow says my house is estimated at $850k in 2023
brb it actually sells at $800k
brb capital gains tax on $300k is another $55k
brb agent commissions I owe are another $50k
brb home improvements to make it appealing were another $5k
brb repairs following the inspection added another $5k


brb my $850k Zillow estimated home where I "made" $350k since the initial purchase actually only brought in $690k, minus the initial purchase of $500k for $190k return on investment.


I always LMAO when homeownercels try to include full home estimates into their net worth. The amount you actually cash out with is so much lower.

And a $500k home estimated at $850k 4 years later is seriously like a historic upswing over the last few years too. It will literally never be more profitable than it's seen now with the craziness.... and it's still weak as f*ck.
post 1676941433 02-10-2023, 03:59 PM
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Originally Posted By S0Jack3d
Capital Gains Tax on Selling Your Primary Home

Many homeowners are aware of the general tax rule for home sales – if you have owned and lived in your main home for at least two out of the five years leading up to the sale, up to $250,000 ($500,000 for joint filers) of your gain is tax-free.

https://www.kiplinger.com/taxes/capi...s%20tax%2Dfree.
Op murdered with words, must be late on rent and pissd off. Loooooooll rentcels
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post 1676941573 02-10-2023, 04:01 PM
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Originally Posted By S0Jack3d
Capital Gains Tax on Selling Your Primary Home

Many homeowners are aware of the general tax rule for home sales – if you have owned and lived in your main home for at least two out of the five years leading up to the sale, up to $250,000 ($500,000 for joint filers) of your gain is tax-free.

https://www.kiplinger.com/taxes/capi...s%20tax%2Dfree.
Entered the thread to post this.
post 1676941993 02-10-2023, 04:10 PM
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Give all your crude valuables away to charity, & roam this earth barefoot & naked before The Lord. Maybe you can still enter the kingdom of heaven.
post 1676942083 02-10-2023, 04:12 PM
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Originally Posted By S0Jack3d
Capital Gains Tax on Selling Your Primary Home

Many homeowners are aware of the general tax rule for home sales – if you have owned and lived in your main home for at least two out of the five years leading up to the sale, up to $250,000 ($500,000 for joint filers) of your gain is tax-free.

https://www.kiplinger.com/taxes/capi...s%20tax%2Dfree.
Ftw bought house for 75k. Now worth 138k. Looooool. Free money.
post 1676942713 02-10-2023, 04:22 PM
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Imagine the banks home being worth as much as the “homeowner” thinks it is….
“The stories and information posted here are artistic works of fiction and falsehood. Only a fool would take anything posted here as fact.“

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post 1676942963 02-10-2023, 04:26 PM
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funny when they brag ohhh i bought for bout 350k now its worth 500k 1 year later! yeah ok but you think youre making 150k profit? YEAH RIGHT!


after penalties, fee's, taxes and commission's your making 10-20k max. and than they just waste it buying into a higher market so they arent any better off LMAO!
post 1676943073 02-10-2023, 04:28 PM
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A little early, rents not due for a couple more weeks OP
post 1676943123 02-10-2023, 04:29 PM
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Hey, my house is worth 500k instead of 350! Better take out a HELOC and renovate it to make sure my debt interest keeps piling up.

The only people winning in real estate are banks. When you finally pay off that 350k house you paid 700k for it.
post 1676943253 02-10-2023, 04:30 PM
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Didn’t pay down any principal on the loan in that time?

People are definitely way too caught up in inflating home values. I built my first house in 2015 and the market at the home base has been flat since then, but my equity has increased substantially. I don’t really want prices to go crazy, I want reasonable prices and stability.
post 1676944453 02-10-2023, 04:52 PM
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Are homeowners still an actual thing in 2023? Brutal if true srs
post 1676944543 02-10-2023, 04:53 PM
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Originally Posted By TryingMen
And a $500k home estimated at $850k 4 years later is seriously like a historic upswing over the last few years too. It will literally never be more profitable than it's seen now with the craziness.... and it's still weak as f*ck.
I bought a place for $305K in 2018. It went up to only $335K almost 4.5 years later.

Feels bad man
post 1676944713 02-10-2023, 04:56 PM
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Imagine being a rentcel paying someone else's home equity. Sad!
post 1676944793 02-10-2023, 04:57 PM
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#14
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Originally Posted By TryingMen
brb bought my house at $500k in 2019
brb Zillow says my house is estimated at $850k in 2023
brb it actually sells at $800k
brb capital gains tax on $300k is another $55k
brb agent commissions I owe are another $50k
brb home improvements to make it appealing were another $5k
brb repairs following the inspection added another $5k


brb my $850k Zillow estimated home where I "made" $350k since the initial purchase actually only brought in $690k, minus the initial purchase of $500k for $190k return on investment.


I always LMAO when homeownercels try to include full home estimates into their net worth. The amount you actually cash out with is so much lower.

And a $500k home estimated at $850k 4 years later is seriously like a historic upswing over the last few years too. It will literally never be more profitable than it's seen now with the craziness.... and it's still weak as f*ck.
How much did you put down on your purchase?

Likely your ROI is through the roof

Even if you bought it cash you’re looking at 12-13% annualized for something that solves a necessity. Not too shabby
post 1676946173 02-10-2023, 05:23 PM
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#15
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lol @ being such a loser you need to obsess over the numbers and the pro's/con's to owning vs renting.


Brb trying to justify renting to cope with the fact that you're a loser.
post 1676946283 02-10-2023, 05:27 PM
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#16
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Rentcels never get any money back. Always lose.

Homeownercels can almost always recoup or profit.

Rarely see it mentioned here.
post 1676946573 02-10-2023, 05:34 PM
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#17
  1. friesbruh
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Originally Posted By TryingMen
brb agent commissions I owe are another $50k
not for me. if i were to sell i might pay $12k in commissions (2.5%ish to buyers agent)

there is power in having a real estate license even if just for buying/selling for yourself.

brb getting $13k back at closing on your 0 down VA loan
brb getting $13k back at closing on your 0 down USDA loan
brb only putting down .5% instead of 3.5% on your FHA loan
brb save a fuk ton when you go to sell your home.

and how much are dues a year, $2,426. if you buy/sell once every 3yrs youre still money ahead.
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post 1676947533 02-10-2023, 05:52 PM
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Curious, how much did the apartment you rent increase in value.
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