this thread is absolutely terrible


glad I could be a part of it

LMAo

You didnt take into account the 6% in realtor fees he had to pay and all the maintenance he incurred over the years vs what he wouldnt have had to pay renting.
Im not saying a condo in DT LA is a bad investment, but $100k in 5 years for a $600k property that is not making tou passive income on top of that over the 5 years is hardly a nice return.

I have uncles from Asia that buy houses like these in North houston to park their money and DONT EVEN RENT THEM OUT. They just sit. I literally park my classics at one that looks very much like this. The house is used as a storage facility.

But this is not Houston proper. This is a suburb in Houston.

Maybe your uncles want to buy something in Barcelona and I'll take care of it instead of rent. Everybody wins.

ITT OP wanted to be ice cube so bought a house in his old neighbourhood

You seem like a nice guy. I'll keep it short.

1. Anyone who gets a tattoo then proceeds to take a picture of it and post in online while trying to flex did not just get the tattoo "for themselves". Just be honest with yourself.

2. I dont believe in the term "self made" Nobody is self made.
3. A peasant who was able to rise to the top to establish a "royal dynasty" more than likely stepped on people's backs while climbing out of the pile. Ive seen what kind of attitude it takes to get to the "next level" and by next level I dont even mean anything close to royalty. And even that paltry next level wasnt for me.

In North Houston, it is legal to booby trap your home and shoot trespassers.

well he did not buy it as a rental property so I would not expect him to be making passive income

Also we don't know what sort of repairs he is or isnt having to do. And we also don't know if he included the 5% commission in the price, nor do we really know exactly what he paid for the place.

Sure, I'll call them right up and ask if they would be ok with letting a complete stranger "take care" of their investment property while potentially running the risk of said person running a brothel or a grow house from it.

Work on your value selling skills man

Correct, he bought it as a place to live in. So to speculate the property as a investment is not quite accurate. I was not the one to bring this up, someone else did. MThe commission comes out the back end, and it would have been called out. There is always a factor of maintenance, usually expressed as a %. Being that we are discussing property closer to the bottom of the barrel of the pool, it's safe to assume an older property. There is a big difference between a property appreciating $100k (which was stated) vs a property that cleared $100k in profit. At the end of the day, it's always in the detail and there is too much detail left out. All I am saying is that $100k property appreciation in 5 years isn't a stellar return. What if he took that $500k and bought Aapl stock when it was $117 and watched it rise to $700+?

[QUOTE=donblaximus post_id=1456830373][QUO/TE=Testifier;1456829673]

My zip code:

[imbg]https://i.imgsafe.org/a3a5b543f1.png[/img]

Average home price in my zip code:

[imbg]https://i.imgsafe.org/a3abd8d9dd.png[/img]



Nice, so you just proved that you live in a condo less than the median value of the area....am I correct?
I have rental property that I havent seen in more than a decade worth more than your primary residence LOL
Go back to showing off your hamburgers.[/QUOTE][img]https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcQlQrlt1BpBgqbXS3QQGfUM_ydW7u3r9wvvypVPeNuFyH5QJuyjUA[/img]

Well I don't think a bank is giving a 500k loan for you to invest hoping you know how to invest. That was the other point I made. His actual investment is substantially less than 500k. Banks arent giving out investment loans for stocks and such.

says the Brazilian immigrant. not sheriff cereal...

Ya but you have to wake up in Spring, TX.

Let's go by what we know.

He bout the place for $500k
We don't know how much equity but he has thrown around 20% down payment before so could be safe to assume he put $100k down.

So even with $100k, 7x the return on aapl is way better than $100k over 5 years.
Before anyone goes there, I'm not saying they have the same risk profile. One is a place to live while the other is pure investment.

What I am saying is that it is prudent to not have all your money wrapped into one investment. You have to have non risk and riskier assets working.

I don't feel bad for paying 250k for my house in a reasonable area. I live in Mass.

I would need to make like 200k to survive there.

lol yeah because apple is a really common likely investment where people are dropping 100k towards it rather than a home when they themselves only make 130k a year. Dumb argument.

Also from what he posted earlier that is not his only investment.

For what he put towards the house and renovations it sounds like there is a good chance he will get a 100% ROI then subtract out the costs of selling it is still a great investment.

Saying chit like well he could have bought stock in microsoft 20 years ago and would have made more is dumb as fuk and does not somehow mean the investment he made is not still a good investment.

I think you are letting your personal dislike for test have an impact on your opinion of the investment

DonBlaximus u hirin m8 srs

No sir. I have no personal dislike for him since I dont know him personally. I do think his persona online is a douchebag yes. But it does not cloud my judgement.
I speak from experience, the school of hard knocks and the same school that gives you great wins. I dont spew crap from theory or what ifs.

Please show me a quote where he says he has other investments working. Dropping all your savings in a risky stock is just as stupid as buying a place for 5x your annual income, agreed. My whole point is that you need to have multiple pots in the fire. No possible way he could be spending upwards of 40% of his pay on his mortgage+insurance, AND maximizing his retirement folios AND making other riskier investment moves worth talking about. Like I said, I know what I am looking at. Most people watch those real estate TV shows and think wow he bought the place for $500k and sold it for $700k over 5, what a great investment! They think he made $200k when in reality there is closing cost, realtor fees, maintenance, upgrades, payments towards mostly interest, and most importantly OTHER OPPORTUNITY. The place we speak of is a place to live. I wont argue with that angle. But is it a GREAT investment? Who knows?

So lets continue with your hypothetical rhetoric. What if he bought a property that was $350 instead of $600k. Only $70k down with $30k left to invest on riskier alternatives while still having a place to live and still appreciating. So lets say that place only goes up $50k in 5 years, but he put the $30k in appl. He would still be up $260k before cost vs $200k if his condo goes from $500-$700k in 5 years right?


Who is crazy enough to parlay $100k into appl on a down slope? I was. I told the story here before. Market collapse due to 911 and .COM burst. I saw a ton of things on sale. Went out and bought the yellow lambo from someone who was over leveraged. Came back and went straight to the credit union, gave them my title and took ~$100k loan at 1.9%. Bought aapl at a severely discounted rate and made 6x in less than 2 years while also having other safe investments working for me.

why do you keep saying appl? like that chit is an every day occurrence and an easy find. Just because there are other investments that happen to be better at times does not somehow mean his is a bad investment. if he gets 100% ROI over 5 years that is amazing. Sure there are instances here and there where you can make mroe but even if it was a high risk and he got 100% over 5 years that is considered good. SO him getting that on something that is actually low risk should be considered great.

Im sure you are constantly getting those 6x ROI in 2 years on a regular basis with your high risk investments. Or wait...was it 1 fuking time?

You act like I am saying his condo is the all time greatest investment

Honestly not sure I'd care. If I had a home like that, I think I'd be pretty happy, srs. Look on Google Maps, the neighborhood is real nice.

If the question is am getting investment ROI more than 100% in less than 5 years? The answer is absolutely yes.
I put $ in a gym. Got full payback in 10 months. Now I receive a DD every 15th of the month. I invested in that venture 4 years ago.

Why do I keep saying appl? Do you want to see other stocks? As if there is not opportunity literally hitting you in the face daily?
Visa
Vmware
Amazon
Transocean

Do you want me to list more? 100% ROI in 5 years on an INVESTMENT is not AMAZING.
100% on a primary residence is pretty good but you cant look at primary residence that way. Especially the way Test looks at it.
Lets say he does make his 100%, which means he actually sold the place. He will still have to buy a place in LA (because "everywhere else other than there and Hawaii is shiethole") at the same elevated price to live. Do you see why its not considered an investment now?

Why do the buildings in LA look like crap? Crying with laughter here. London is the Daddy of properties if you have money. Stunning aesthetic places, unlike the shacks posted on here. LMFAO damn, looks like a British council estate with some of these shanty LA houses. I'm talking mega bucks for London though. Millions+

LMFAO at the architecture ITT.

who really needs all that space? Honestly it is nice house if you have a family and chit but I would never want something that big. Having to furnish and clean it would suck. Rather live in the city in a much smaller place or on a plot of land in a smaller place

not sure what about a suburb mansion in spring, tx would be appealing

Yup, most people do that have the money to afford it. You dont.
Using your internet list mentality, go look up America's fastest growing cities. Any list, and you will find Austin tops most all the charts if not top 5 in almost all of them.
Ive had the pleasure of living in Austin while also living weekdays in Westwood at the W with full expense account. I think Austin is a much better place to live than LA. Just my opinion.
Im sure you have never been there.....and will run to google images and information on it now.

After living in SF for years, I'm thinking the grass is greener. I'm in the middle of the action and it's fcukin annoying: traffic, people everywhere like sardines, noise, grocery store lines for miles, hours just to drive out of the city. But the Bay Area sucks in general and I'm never settling here - don't get me wrong the city is beautiful, but so many people. People everywhere, it's annoying.

If you ever have kids you will understand. The common working class want a decent house with a neighborhood their kids can play safely in with schools that are good.
If you want all that and be close to the action, you can get that in major cities too but lot values for those types of places often start at $1M and go north of that fast.

I too lived in San Francisco on the weekdays for 4 years. IN fact I stayed in an apartment at the St Regis on 3rd and Minna. If you want to check if I am full of shiet, go ask the door guy mike if there were guys travelling weekly from Texas that lived there.

We had full expense account, used the Bentley house car to go to some of the best restaurants there is (better than LA imo) Even took a few customers to places like French Laundry and Gary Danko. So at that time (in my late 20s) we were living the lives of multi millionaires without any expense from our own pocket. And I still was glad to come home to Austin.

" Honestly it is nice house if you have a family "

Id still rather raise a family in a smaller house with land. Assuming I could find comparable school districts.