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Forum » 2.5% interest on mortgage but don't like where we live
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Thread: 2.5% interest on mortgage but don't like where we live

post 1669837643 10-21-2022, 10:14 AM
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#31
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Originally Posted By iabs⏩
Lol the “rent is due” meme is lame as fuk, what you rulers don’t pay a mortgage? Or even if you paid “your” house off don’t you pay property taxes/ insurance?
I factor it in the rent. As a slum lord, I never use my own money to pay bills or even do repairs, its all factored in.
post 1669837663 10-21-2022, 10:14 AM
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#32
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Originally Posted By Anachron⏩
This.

When will rentcels learn srs?
They will never learn. Thats why there will always be rentcels.
post 1669837703 10-21-2022, 10:15 AM
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#33
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I don't know how you end up with a mortgage in an entire direction you don't like (the south), but maybe that's the decision-making to be expected of someone who posts on Reddit looking for advice about this stuff

The prudent move financially is obviously to suck it up and make the best of the situation
post 1669838363 10-21-2022, 10:29 AM
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#34
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Renting saved me 500K so far this year



Another interest hike coming. Properties gonna tank even more with no end in sight

I’ll keep letting the retards take the hit then I scoop up their properties mortgage free. A fool is born everyday

Imagine holding properties rn. Jfl
post 1669843353 10-21-2022, 12:12 PM
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Originally Posted By Retoaded⏩
They will never learn. Thats why there will always be rentcels.
I'm not sure that they are capable of learning.
post 1669843493 10-21-2022, 12:14 PM
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#36
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The irony of this whole f'n thread is that the OP lives in NYC......lolz. Talk about being trapped even without a home or a mortgage.
post 1669843783 10-21-2022, 12:19 PM
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#37
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Originally Posted By donblaximus⏩
The irony of this whole f'n thread is that the OP lives in NYC......lolz. Talk about being trapped even without a home or a mortgage.
Yeah trapped collecting 250k bonuses each year (next year could be 300k plus).

I'm not building any wealth at all
post 1669844003 10-21-2022, 12:23 PM
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#38
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He can probably make at minimum 1000 dollars profit per month if he rents his house out just saying. Lol rentcels
post 1669844083 10-21-2022, 12:24 PM
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#39
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Originally Posted By TheGoldenBull⏩
Renting saved me 500K so far this year



Another interest hike coming. Properties gonna tank even more with no end in sight

I’ll keep letting the retards take the hit then I scoop up their properties mortgage free. A fool is born everyday

Imagine holding properties rn. Jfl
No one cares about Canadas rates. You’ll don’t have 30 year locked interest rates lmaoooo
post 1669844203 10-21-2022, 12:26 PM
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#40
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Originally Posted By AWSbruh⏩
He can probably make at minimum 1000 dollars profit per month if he rents his house out just saying. Lol rentcels
a whole 12k a year! thats like....8-9k post tax

he can save 8-9k a year! wow! would literally change my life
post 1669844223 10-21-2022, 12:26 PM
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#41
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Winter is coming, OP. Better include a generous tip if you want your landchad to maintain your heater.
post 1669844293 10-21-2022, 12:27 PM
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#42
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Originally Posted By AWSbruh⏩
No one cares about Canadas rates. You’ll don’t have 30 year locked interest rates lmaoooo
Doesn't matter.


Your property is still doing this as we speak















hundreds of thousands by the end of the year. you worked for free this year basically.


how do you cope?
post 1669844743 10-21-2022, 12:34 PM
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#43
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Originally Posted By TheGoldenBull⏩
Doesn't matter.


Your property is still doing this as we speak















hundreds of thousands by the end of the year. you worked for free this year basically.


how do you cope?
if someone hasn't actually handed you the money for your home, your zestimate means nothing. rates going up to 8% almost right now.

by q1 2023 I predict 10%

you think you will have buyers for your home at 10% anywhere near what you bought?
post 1669844893 10-21-2022, 12:36 PM
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#44
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Originally Posted By kengriffeyjr24⏩
if someone hasn't actually handed you the money for your home, your zestimate means nothing. rates going up to 8% almost right now.

by q1 2023 I predict 10%

you think you will have buyers for your home at 10% anywhere near what you bought?
the only thing more retarded than holding a property in 2022 is holding 2 properties.


You would HAVE to be retarded.
post 1669844903 10-21-2022, 12:36 PM
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#45
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Originally Posted By MonsieurWhite⏩
>Renting actually SAVES you money, goy!
well yeah

own a home = 2000+ a month
rent an apartment = 900 a month
post 1669845213 10-21-2022, 12:40 PM
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#46
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rentcel checking in

lol @ thinking owning a home isn't somehow a good thing.and by that I mean actually owning, not living in it while you pay the bank all that usury
post 1669845493 10-21-2022, 12:45 PM
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#47
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Originally Posted By kengriffeyjr24⏩
a whole 12k a year! thats like....8-9k post tax

he can save 8-9k a year! wow! would literally change my life
Yeah you don't make the money you claim
post 1669846033 10-21-2022, 12:51 PM
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#48
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Originally Posted By kengriffeyjr24⏩
a whole 12k a year! thats like....8-9k post tax

he can save 8-9k a year! wow! would literally change my life
BRB tax write off
BRB tenant is paying the mortgage off while I gain equity
post 1669846223 10-21-2022, 12:54 PM
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#49
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Originally Posted By AWSbruh⏩
BRB tax write off
BRB tenant is paying the mortgage off while I gain equity
how r u gaining equity if you house just dropped by 250K(tax free)? you're in Florida right? lol
post 1669846673 10-21-2022, 01:04 PM
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#50
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Originally Posted By AWSbruh⏩
BRB tax write off
BRB tenant is paying the mortgage off while I gain equity
brb you hold all the risk while tenant has basically none.

brb highly illiquid asset (in a 10% rate environment)

brb have to pay for repairs and destruction chitty tenants cause

brb for every month you dont find a tenant YOU have to cover the mortgage

brb tenants refuse to pay and it takes over a year to evict them (while YOU cover the costs)

they have literal financial instruments that earn about the same IRR with same relative risk assumptions (high yield bonds). I'd say the average rentercell you landlording over are equivalent to to BBB- rating HY bond, which pays actually a higher return than housing historically and you dont have to deal with any repairs, frozen pipes for your bonds. and there are no closing costs for purchasing bonds. same level of risk in terms of defaulting.

I feel like most people gravitate towards real estate since its physical, they can feel it and see it, and easily understand it. when you are basically average to below average intelligence...i can see the appeal (hence why people like grant cardone have masses of idiots trying to follow him)
post 1669846813 10-21-2022, 01:07 PM
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#51
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building equity for propertycels in 2022











bad news. low interest rates ain't never coming back. 10% is here to stay. half the world just moved off USD via brics
post 1669846983 10-21-2022, 01:10 PM
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#52
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Originally Posted By TheGoldenBull⏩
how r u gaining equity if you house just dropped by 250K(tax free)? you're in Florida right? lol
not sure if srs. I still have over 100K in equity in my house and i've owned it for 3 years lmaoooo
post 1669847193 10-21-2022, 01:13 PM
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#53
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Originally Posted By AWSbruh⏩
not sure if srs. I still have over 100K in equity in my house and i've owned it for 3 years lmaoooo
so you bought in 2019. LMFAO Holy fuk


you will be negative equity by first quarter next year if you are not already btw.

try to sell your house and look at those offers rn
post 1669847283 10-21-2022, 01:14 PM
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#54
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Lol @ rentcels drumming up fake income and stories online, don't you guys have burgers to go flip ?
post 1669847393 10-21-2022, 01:17 PM
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#55
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Originally Posted By OffwhiteBrah⏩
Lol @ rentcels drumming up fake income and stories online, don't you guys have burgers to go flip ?
property value is tanking. especially in hubs.


this is a fact.
post 1669847563 10-21-2022, 01:20 PM
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#56
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Originally Posted By AWSbruh⏩
not sure if srs. I still have over 100K in equity in my house and i've owned it for 3 years lmaoooo
florida market is so pathetic right now realtors are forced to hold pseudo pumpkin patches at their open house to make people want to come by and consider buying their home at 7% rates when prices are falling fast

its honestly sad and pathetic they have to resort to this!
post 1669847573 10-21-2022, 01:21 PM
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#57
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Originally Posted By kengriffeyjr24⏩
In most amortization schedules most of your monthly payment is going to interest and taxes and insurance (throwing it away), particularly in first 5 to 10 years

You are building a marginal bit of equity but you are immediately in the hole upon purchase due to closing costs.

Add in any price drops(more common now), and you have like 5 years to break even
Lol I have only lived in my house 2 years and like 800 a month goes to principal. 0 per month of yours goes towards anything but paying your. Which by the way is due
post 1669847583 10-21-2022, 01:21 PM
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#58
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They could sell and move if they wanted to become a lowly renter. Just can't buy in a new area right now due to high rates. So op logic is just rent from the beginning? Lmao
post 1669847673 10-21-2022, 01:22 PM
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Rentcels losing it!
post 1669848073 10-21-2022, 01:30 PM
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Originally Posted By Titansfan08⏩
Rentcels losing it!
actually realtors are losing it

this is from yesterdays WSJ. market is definitely getting tight when they need to resort to this

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