Thread: Mind=Blown at people who RENT.
07-05-2016, 05:36 PM
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#91
- Norrov
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- Norrov
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I bought a house for 40K when I was 21, lived in for a few years then rented it out for 750/mo (Singlewide trailer, 2 acres and a two car garage) and bought a nicer house in the mountains for 170K. (House, 30x40 shop and 5 acres)
Both are paid off and rented out now. I just rent the house and I keep my personal crap in the shop of the latter. It's a decent deal but I was just lucky I worked all through high school, saved every penny and ended up with a decent career. Getting that 20% is rough for a lot of people.
I currently rent a place in Denver since I travel often for work, but the extra income from renting is nice. I found some good renters who fix crap that breaks down and take good care of the place. I just subtract issues off the rent if need be. It's not much of a hassle, but finding good renters is very difficult.
I prefer no maintaince living anymore, Fuk mowing the lawn and worrying about **** breaking down. Renting definitely has some appeal.
Both are paid off and rented out now. I just rent the house and I keep my personal crap in the shop of the latter. It's a decent deal but I was just lucky I worked all through high school, saved every penny and ended up with a decent career. Getting that 20% is rough for a lot of people.
I currently rent a place in Denver since I travel often for work, but the extra income from renting is nice. I found some good renters who fix crap that breaks down and take good care of the place. I just subtract issues off the rent if need be. It's not much of a hassle, but finding good renters is very difficult.
I prefer no maintaince living anymore, Fuk mowing the lawn and worrying about **** breaking down. Renting definitely has some appeal.
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07-05-2016, 05:40 PM
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#92
- FullGluteSpread
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Originally Posted By AGstrong⏩
Guess your BBA (lol) didn't teach you how asset valuations and bubbles work. You bought during one of the greatest short term price appreciation periods ever in canadian real estate. Don't mistake a bull market for brains boyo. Ill be there in 2 years with a cash lowball bid when the bank is calling everyday and youre drowning in your debt.strong deflection with nonsense bird logic.
i have a bba from one of the top schools in the country. where did you go to school *******? inb4 devry commerce.
i have a bba from one of the top schools in the country. where did you go to school *******? inb4 devry commerce.
07-05-2016, 05:52 PM
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#93
- cookiefiend
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- cookiefiend
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Originally Posted By TheJunkMan81⏩
No, I'm saying where I am its about 20% deposit.FHA loan you can get in for as little as 3.5% down. Are you saying houses where you live start at almost 3 million?
07-05-2016, 05:54 PM
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#94
- DeusExTerra
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stop calling people "birds" you fuktard potato. making me rage IRL.
07-05-2016, 05:56 PM
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#95
- AGstrong
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- AGstrong
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Originally Posted By anacottsteel27⏩
you were deflecting. i stated what my investment was and what my return on the investment was and opted to provide you proof, you replied by insulting my intelligence instead of answerign my question of what your investment was that you claimed provided a higher return.Lol no deflection, just fact.
Congrats brother, Although I am sorry you correlate a degree from "Unknown Top School in Country" with intelligence. I went to a private university with a scholarship and then a public university, I'm doing just fine.
Congrats brother, Although I am sorry you correlate a degree from "Unknown Top School in Country" with intelligence. I went to a private university with a scholarship and then a public university, I'm doing just fine.
answer the question of sit down.
Originally Posted By nvrstopworking⏩
i sub contracted work from a retail maintenance company. so id get jobs like doing touch up painting, installing basebaords, replacing lights, cleaning in retail sotres.This is probably what holds back a lot of people living in expensive markets.
What was your down payment? And did you pay for it yourself or go in on it with someone?
EDIT: Just saw this post.
Living at home is a necessity. Not everyone can do that though. Need some more clarification on the job.... you say you ONLY worked summers? And were able to save $80K over 5 years? What kind of work was this? Hourly rate? Hours?
What was your down payment? And did you pay for it yourself or go in on it with someone?
EDIT: Just saw this post.
Living at home is a necessity. Not everyone can do that though. Need some more clarification on the job.... you say you ONLY worked summers? And were able to save $80K over 5 years? What kind of work was this? Hourly rate? Hours?
the highest paying project i ever got from them was a home depot, which i had to repaint the front facing wall of the store and replace/clean the lights in the lunch room. it took 15 work days for 3 workers , $26k canadian.
07-05-2016, 05:58 PM
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#96
07-05-2016, 05:58 PM
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#97
- truth223
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- truth223
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Originally Posted By TheJunkMan81⏩
And with that FHA loan you will have a chitload of hoops to jump through and some stupid ass rules you have to go by. I wouldn't get a fha loan unless it was absolutely necessary.FHA loan you can get in for as little as 3.5% down. Are you saying houses where you live start at almost 3 million?
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07-05-2016, 05:59 PM
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#98
- Zackad
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- Zackad
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Originally Posted By AGstrong⏩
so is your point that people should be homeowners and not renters?most people who have a good career can afford to buy a property in their mid-late 20s, unless they can't manage their finances worth shiet.
That was the entire point of the op.
And I'm not ragging on people getting a mortgage, I'm ragging on people paying it off. If your intent is to pay off your mortgage in 50 years then you are essentially renting from the bank or whatever 2nd/3rd party lender you went with.
That was the entire point of the op.
And I'm not ragging on people getting a mortgage, I'm ragging on people paying it off. If your intent is to pay off your mortgage in 50 years then you are essentially renting from the bank or whatever 2nd/3rd party lender you went with.
or is your point that you should have your mortgage paid off within certain set of years?
or is your point that you should just be able to save up enough money by a certain age to buy a house cash, and if you can't then you're a failure at finances?
A mortgage is renting from the bank, whether it's for 1 year, 15 years, 30 years, or if you have to keep paying it until you die and transfer the debt to your kids.
It is in no way an asset to you unless you are not the one putting the money down, or if you rent it out. And as someone who is strongly against any sort of money borrowing, and hates the idea of a credit card, let alone a mortgage, I'm still going to try and get one as early as possible. But just because someone doesn't own a home by a certain time doesn't mean they don't understand finances or are peasants. Different people have different circumstances.
"So t
07-05-2016, 06:03 PM
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#99
07-05-2016, 06:05 PM
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#100
- harmsxwhey
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Job requires me to move every couple of years, otherwise I'd agree with you, OP. Wish I could buy.
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07-05-2016, 06:16 PM
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#101
- OliverTwisterJr
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As usual renter crew claims renting costs less in the long run even though rent has spiked way above home prices since the recession. I know because I rent my house out lol
We still out here trying to use 6-year old articles to prove a point???
http://fortune.com/2015/10/07/rents-rise-housing/
http://www.bloomberg.com/news/articl...e-family-homes
We still out here trying to use 6-year old articles to prove a point???
http://fortune.com/2015/10/07/rents-rise-housing/
http://www.bloomberg.com/news/articl...e-family-homes
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Buying is better than renting crew
07-05-2016, 06:29 PM
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#102
07-05-2016, 06:50 PM
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#103
- TrueBromance
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- TrueBromance
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Originally Posted By Norrov⏩
bought a house for 40kI bought a house for 40K when I was 21, lived in for a few years then rented it out for 750/mo (Singlewide trailer, 2 acres and a two car garage) and bought a nicer house in the mountains for 170K. (House, 30x40 shop and 5 acres)
Both are paid off and rented out now. I just rent the house and I keep my personal crap in the shop of the latter. It's a decent deal but I was just lucky I worked all through high school, saved every penny and ended up with a decent career. Getting that 20% is rough for a lot of people.
I currently rent a place in Denver since I travel often for work, but the extra income from renting is nice. I found some good renters who fix crap that breaks down and take good care of the place. I just subtract issues off the rent if need be. It's not much of a hassle, but finding good renters is very difficult.
I prefer no maintaince living anymore, Fuk mowing the lawn and worrying about **** breaking down. Renting definitely has some appeal.
Both are paid off and rented out now. I just rent the house and I keep my personal crap in the shop of the latter. It's a decent deal but I was just lucky I worked all through high school, saved every penny and ended up with a decent career. Getting that 20% is rough for a lot of people.
I currently rent a place in Denver since I travel often for work, but the extra income from renting is nice. I found some good renters who fix crap that breaks down and take good care of the place. I just subtract issues off the rent if need be. It's not much of a hassle, but finding good renters is very difficult.
I prefer no maintaince living anymore, Fuk mowing the lawn and worrying about **** breaking down. Renting definitely has some appeal.
what
07-05-2016, 07:00 PM
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#104
- nvrstopworking
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- nvrstopworking
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Originally Posted By AGstrong⏩
How'd you get that job? Difficult to believe that Home Depot would just hand over $26k to some dude and his friends as opposed to an established company.i sub contracted work from a retail maintenance company. so id get jobs like doing touch up painting, installing basebaords, replacing lights, cleaning in retail sotres.
the highest paying project i ever got from them was a home depot, which i had to repaint the front facing wall of the store and replace/clean the lights in the lunch room. it took 15 work days for 3 workers , $26k canadian.
the highest paying project i ever got from them was a home depot, which i had to repaint the front facing wall of the store and replace/clean the lights in the lunch room. it took 15 work days for 3 workers , $26k canadian.
07-05-2016, 07:06 PM
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#105
- FreshlySnipes
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- FreshlySnipes
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In on weekly rent vs. buy thread where everyone thinks everyone else's life priorities, financial circumstances, and local real estate markets are all identical to their own.
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07-05-2016, 08:02 PM
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#106
07-05-2016, 09:49 PM
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#107
- Norrov
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- Norrov
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Originally Posted By TrueBromance⏩
Middle of nowhere South Dakota brah. (Black Hills) poverty area.bought a house for 40k
what
what
Rent them out and living it up in Denver now.
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07-05-2016, 09:54 PM
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#108
07-06-2016, 12:00 AM
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#109
- AGstrong
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- AGstrong
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Originally Posted By nvrstopworking⏩
home depot wouldnt do that, but the guys home depot have a contract with would. i filed for a master business licence, got WSIB (which i later got rid off because i needed it just to get the initial job with these guys), sent them an email with my work experience (ive done a lot residential work because i grew up painting ever summer) and they gave me a GAP in Vaughn to paint.How'd you get that job? Difficult to believe that Home Depot would just hand over $26k to some dude and his friends as opposed to an established company.
anyone can do this though. send them an email with some bullchit pics and reference numbers for something like carpentry. its all retail so its reallly easy, any ignoramus can work a mitre saw an a nail gun.
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