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Reminder: if you are paying a mortgage, you dont "own the house"
12-15-2021, 08:54 PM
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#91
Originally Posted By Kawhilights⏩
is this the only guy ITT that gets it?Everyone ITT is arguing without logic. OP only stated that if you must make payments to a lien holder on your property, it isn’t yours. He didn’t mention renting, or other living situations. Everyone took it personally and replied like a hurt woman.
Mortgagecel checking in.
Mortgagecel checking in.
Srs its like a bunch of liberal logic ITT. If you say one bad thing about clinton, all of a sudden they go on a tirade against trump - meanwhile i dont support trump either lol. He’s controlled opposition
12-15-2021, 08:59 PM
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#92
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Originally Posted By Destor⏩
This is where I’m at. Paid off the auto and have no other major bills but the house each month.What if you have the cash to pay off the house but sit on the mortgage anyways because interest rates are so low and paying it off early doesn't make sense
Could pay off the house tomorrow, but won’t because I’ll use the money for something else that generates passive income.
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12-15-2021, 09:00 PM
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#93
Originally Posted By IPoopStandingUp⏩
The bank doesnt come after your food if youre late on CC payments boyoI gave the previous owner a check for the full price. I happened to borrow a couple hundred k that morning.
If you buy your groceries with a credit card you don't own the food?
If you buy your groceries with a credit card you don't own the food?
Try again
12-15-2021, 09:03 PM
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#94
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But, you own the equity.
The inflationary environment will
allow for the King of Work From Home Intellectual Landowners using cash to buy out rentals for the plebe and pedestrian peasants funding our yachts.
Cheers.
The inflationary environment will
allow for the King of Work From Home Intellectual Landowners using cash to buy out rentals for the plebe and pedestrian peasants funding our yachts.
Cheers.
12-15-2021, 09:05 PM
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#95
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Originally Posted By Arem24⏩
OP doesn't really know what 'equity' , 'asset', 'liability' , 'inflation' is, he is basically financially illiterate. Bet you he can't read a balance sheet or an income statement either.But, you own the equity.
The inflationary environment will
Make Kings of Work From Home Intellectual Landowners using cash to buy out rentals for the plebe and pedestrian peasants funding our yachts.
Cheers.
The inflationary environment will
Make Kings of Work From Home Intellectual Landowners using cash to buy out rentals for the plebe and pedestrian peasants funding our yachts.
Cheers.
Yet he is spewing 'advice', it's actually quite funny
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12-15-2021, 09:16 PM
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#96
Originally Posted By plebmaximus⏩
More defensiveness, just lol.OP doesn't really know what 'equity' , 'asset', 'liability' , 'inflation' is, he is basically financially illiterate. Bet you he can't read a balance sheet or an income statement either.
Yet he is spewing 'advice', it's actually quite funny
Yet he is spewing 'advice', it's actually quite funny
You can build your equity all you want, butyoure not part of the home owner master race crew until youve paid off the house
Oh and i didnt even give any financial advice ITT. Shows your cope
12-15-2021, 09:21 PM
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#97
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Originally Posted By Dreyth⏩
Not at all, you have no idea how leverage and ROI works.Cope reply right here
You can build your equity all you want, but youre not part of the home owner master race crew until youve paid off your home
Oh and didnt even give any advice ITT. Shows your cope
You can build your equity all you want, but youre not part of the home owner master race crew until youve paid off your home
Oh and didnt even give any advice ITT. Shows your cope
Imagine you own a home outright and it’s a $500,000 home. It goes up by 10% to $550,000.
Say you have a mortgage with 10% down. $50k in and the home goes up by 10%, yielding $50k on a $50k investment.
That’s a 100% return.
Yes, of course there are frictional costs, taxes, etc., but the magnitude of the difference should be obvious.
Leverage is King.
It does make me feel both terribly and great if the general financial literacy of the misc reflects that of the public. Pedestrian people misunderstanding finances just opens doors for those of us smarter than average.
12-15-2021, 09:23 PM
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#98
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Originally Posted By Dreyth⏩
Meh owning a single home that you live in doesn’t do much anyway. Yeah the value goes up but when you sell it you still have to buy back into the same market more or less.?If you are still paying off your mortgage then you havent entered the homeowner master race crew. So out of your cope you decide to make fun of rentcels lol
So much defensiveness ITT its unreal. All these people who dont own homes lashing out at rentcels, it’s hilarious
So much defensiveness ITT its unreal. All these people who dont own homes lashing out at rentcels, it’s hilarious
People who only own one home and think they’ve made money when it goes up in value are just as hilarious as mortgagecels
Originally Posted By Arem24⏩
“Frictional costs” can be highNot at all, you have no idea how leverage and ROI works.
Imagine you own a home outright and it’s a $500,000 home. It goes up by 10% to $550,000.
Say you have a mortgage with 10% down. $50k in and the home goes up by 10%, yielding $50k on a $50k investment.
That’s a 100% return.
Yes, of course there are frictional costs, taxes, etc., but the magnitude of the difference should be obvious.
Leverage is King.
It does make me feel both terribly and great if the general financial literacy of the misc reflects that of the public. Pedestrian people misunderstanding finances just opens doors for those of us smarter than average.
Imagine you own a home outright and it’s a $500,000 home. It goes up by 10% to $550,000.
Say you have a mortgage with 10% down. $50k in and the home goes up by 10%, yielding $50k on a $50k investment.
That’s a 100% return.
Yes, of course there are frictional costs, taxes, etc., but the magnitude of the difference should be obvious.
Leverage is King.
It does make me feel both terribly and great if the general financial literacy of the misc reflects that of the public. Pedestrian people misunderstanding finances just opens doors for those of us smarter than average.
Having the cash on hand allows you access to deals that “leveraged” buyers can’t move quickly on, because they need “permission” from their bank (which equals delays)
Also “leverage” restricts what you can do with the land. Want to demolish the house? Bank needs to approve it. Building approval? Mortgagee needs to give the go ahead. Splitting title? Same. Want to sell the house? Bank will make sure you discharge that loan, AND any other loans secured by that property. If they don’t agree that they’re maintaining the value of their security you need a whole new loan.
All of which is cost, loan fees, valuation fees and weeks of delays. Miss me with that ****.
12-15-2021, 09:25 PM
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#99
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Originally Posted By r32gojirra⏩
Once again, a rentcell that doesn’t understand finance or leverage.Meh owning a single home that you live in doesn’t do much anyway. Yeah the value goes up but when you sell it you still have to buy back into the same market more or less.
People who only own one home and think they’ve made money when it goes up in value are just as hilarious as mortgagecels
People who only own one home and think they’ve made money when it goes up in value are just as hilarious as mortgagecels
Just shaking my head. No wonder there are so many rentcell/basement cell posters here.
12-15-2021, 09:30 PM
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#100
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Originally Posted By Arem24⏩
Rentcel? LmaoOnce again, a rentcell that doesn’t understand finance or leverage.
Just shaking my head. No wonder there are so many rentcell/basement cell posters here.
Just shaking my head. No wonder there are so many rentcell/basement cell posters here.
So much unaweir
12-15-2021, 09:35 PM
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#101
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I own my home, thanks.
12-15-2021, 09:58 PM
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#102
Originally Posted By Arem24⏩
You can say leverage is king,but you cant say you own that houseNot at all, you have no idea how leverage and ROI works.
Imagine you own a home outright and it’s a $500,000 home. It goes up by 10% to $550,000.
Say you have a mortgage with 10% down. $50k in and the home goes up by 10%, yielding $50k on a $50k investment.
That’s a 100% return.
Yes, of course there are frictional costs, taxes, etc., but the magnitude of the difference should be obvious.
Leverage is King.
It does make me feel both terribly and great if the general financial literacy of the misc reflects that of the public. Pedestrian people misunderstanding finances just opens doors for those of us smarter than average.
Imagine you own a home outright and it’s a $500,000 home. It goes up by 10% to $550,000.
Say you have a mortgage with 10% down. $50k in and the home goes up by 10%, yielding $50k on a $50k investment.
That’s a 100% return.
Yes, of course there are frictional costs, taxes, etc., but the magnitude of the difference should be obvious.
Leverage is King.
It does make me feel both terribly and great if the general financial literacy of the misc reflects that of the public. Pedestrian people misunderstanding finances just opens doors for those of us smarter than average.
Just give up already. I understand your logic behind mortgages. I just laugh at people saying they own that house
Oh and: Foreclosure auction crew
12-15-2021, 10:03 PM
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#103
12-15-2021, 10:16 PM
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#104
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Originally Posted By Anachron⏩
There are little “tells” or giveaways that people do unconsciously when they get rustledThe bolded is just a strong assumption -how do you know I don't own my home? 
Like when you outed yourself as a wagecel
12-15-2021, 10:19 PM
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#105
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Originally Posted By Dreyth⏩
If I am going to miss a few payments I will just sell it tomorrow and take the 300k+ I've made in profit I've made in the less than one year I've owned the home and move wherever I want in the world.Edit:
Cant believe all these people who don’t own homes are getting defensive and lashing out at rentcels lol, it’s hilarious
Shows their cope
Listen, if you are under your dark cloud of 500k debt and will be kicked out if you miss a few payments,then you dont own the home
Neither mortgagecels nor rentcels are homeowners
Cant believe all these people who don’t own homes are getting defensive and lashing out at rentcels lol, it’s hilarious
Shows their cope
Listen, if you are under your dark cloud of 500k debt and will be kicked out if you miss a few payments,then you dont own the home
Neither mortgagecels nor rentcels are homeowners
Good luck ending your lease early if you need to LMFAOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO OOOOOOOOOOOOOOOOOOOOOOOOO
12-15-2021, 11:24 PM
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#106
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Originally Posted By pr0digy11⏩
This and my house is almost 2x the size as previous house I was rentingMy mortgage is $200 less than my rent was. As clown world rent costs go crazy I keep a nice low payment
When I sell I keep the equity
Lol at renting Srs
When I sell I keep the equity
Lol at renting Srs
12-15-2021, 11:29 PM
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#107
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Originally Posted By Dreyth⏩
I think we’re talking two different languages but the same thing.You can say leverage is king,but you cant say you own that house
Just give up already. I understand your logic behind mortgages. I just laugh at people saying they own that house
Oh and: Foreclosure auction crew
Just give up already. I understand your logic behind mortgages. I just laugh at people saying they own that house
Oh and: Foreclosure auction crew
Yes, I would also LMAO at any Mortgagecell that claims they “own” their SFH primary mortgage. Yes, the BANK owns it.
I view things more as assets, liabilities, equity, etc., as do my partners, so the idea of “owning” an asset you aren’t the primary call on is humorous.
To ignore the power of leverage in the interest rate environment coupled with the SFH appreciation we’ve had would be financial illiteracy however…
12-16-2021, 03:33 AM
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#108
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Originally Posted By Anachron⏩
Thanks for confirming that you are still rustled, a day later.
NPThanks for confirming that you are still rustled, a day later.
Just so we’re on the same page though, what am I rustled about?
12-16-2021, 03:39 AM
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#109
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Originally Posted By Arem24⏩
Leverage only works if you’re engaging in asset speculation. There was a time when that was a viable strategy but that time may be coming to an end.I think we’re talking two different languages but the same thing.
Yes, I would also LMAO at any Mortgagecell that claims they “own” their SFH primary mortgage. Yes, the BANK owns it.
I view things more as assets, liabilities, equity, etc., as do my partners, so the idea of “owning” an asset you aren’t the primary call on is humorous.
To ignore the power of leverage in the interest rate environment coupled with the SFH appreciation we’ve had would be financial illiteracy however…
Yes, I would also LMAO at any Mortgagecell that claims they “own” their SFH primary mortgage. Yes, the BANK owns it.
I view things more as assets, liabilities, equity, etc., as do my partners, so the idea of “owning” an asset you aren’t the primary call on is humorous.
To ignore the power of leverage in the interest rate environment coupled with the SFH appreciation we’ve had would be financial illiteracy however…
Once you move up to playing with the big boys and doing medium to large developments, the banks can’t provide leverage, only liquidity by lending against the value of assets you already have.
Which is why I don’t mess with banks going forward.
12-16-2021, 04:25 AM
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#110
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Lol at thinking you own your house even if you own it.
Like the government couldn't just come take that **** from you.
Like the government couldn't just come take that **** from you.
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Fukin mall cop neg police of piss
12-16-2021, 04:38 AM
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#111
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Originally Posted By Tanerian⏩
True but with this logic none of us own anything.Lol at thinking you own your house even if you own it.
Like the government couldn't just come take that **** from you.
Like the government couldn't just come take that **** from you.
12-16-2021, 04:49 AM
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#112
12-16-2021, 05:16 AM
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#113
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If I sold my house right now, I’d walk away with 250k at least above what I owe and 150k above what I paid. I also don’t pay land taxes either.
12-16-2021, 05:49 AM
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#114
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Originally Posted By NextPound⏩
How much of a tip do you normally expect from your tenantFirst and last month’s rent is due up front. Don’t forget to fix the holes in the wall from your Lambo posters. Ah, don’t worry about it, no chance you are getting your deposit back anyway. Also, we are on a 10% yearly increase in your rent - non-negotiable. I also reserve the right to walk through your rental at least once a month. Thanks for signing your lease, Mr. Cuck.
Last year one of my tenants only tipped 10% and I was considering evicting him on principle
Just seemed ungrateful tbh
12-16-2021, 05:52 AM
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#115
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Originally Posted By Dreyth⏩
LOL, yeah im sure it's all cope master race and crewMore defensiveness, just lol.
You can build your equity all you want, butyoure not part of the home owner master race crew until youve paid off the house
Oh and i didnt even give any financial advice ITT. Shows your cope
You can build your equity all you want, butyoure not part of the home owner master race crew until youve paid off the house
Oh and i didnt even give any financial advice ITT. Shows your cope
just shut the fk up and get some financial literacy, you're an embarrassment, you're not 12 it's not cute to be a complete dweeb
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12-16-2021, 05:56 AM
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#116
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Originally Posted By BuckNakedinBama⏩
Will this be considered the new “old money” 50 years from now?Keep paying your landlord's mortgage and helping him build generational wealth for his family while you fail to do the same.
National rent averages keep rising.
It is really time to buy. Population booming, land finite. Although jobs are becoming more remote, maybe you won’t need to buy within a short distance commute.
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12-16-2021, 08:20 AM
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#117
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Originally Posted By Dreyth⏩
If your stance is that someone doesn't own their home as long as they are still making payments, then as long as property taxes still exist you can't claim to own yours either, you absolute retard. lol.?If you are still paying off your mortgage then you havent entered the homeowner master race crew. So out of your cope you decide to make fun of rentcels lol
So much defensiveness ITT its unreal. All these people who dont own homes lashing out at rentcels, it’s hilarious
So much defensiveness ITT its unreal. All these people who dont own homes lashing out at rentcels, it’s hilarious
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12-16-2021, 08:47 AM
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#118
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Originally Posted By SpeedCheeser⏩
What about is I get my tenants to pay the taxes for me, is that counted?If your stance is that someone doesn't own their home as long as they are still making payments,then as long as property taxes still exist you can't claim to own yours either,you absolute retard. lol.
12-16-2021, 08:52 AM
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#119
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Originally Posted By r32gojirra⏩
Of course not. You, as the person on title (not the "owner" according to this line of thought) are still required to make regular annual payments. You may have a tenant pay this year's, but you're still going to be expected to pay them in perpetuity so long as you are the person on the title. How can you be the owner if you're still expected to make payments on it?What about is I get my tenants to pay the taxes for me, is that counted?
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