LOL @ Rentcels you are peasants

02-24-2021, 03:31 AM

-

#31

4Mum69
Banned

4Mum69
Banned

Join Date: Aug 2020

Age: 56

Posts: 1,695

Rep Power: 0

"Just put your money in the market bro!"

Peasant style cope.

In the mean time a guy who owns his house outright

- Never has to worry about rent going up, what would of gone to rent goes into stocks and real estate on top of the amount he would be investing as a rentcel
- No one is kicking him out unless his wife takes the house and she can hang all the black dildos from the walls she wants no landlord to say no
- Owns an asset that he can borrow against and at ridiculously low interest rates
- If he loses his job, the equity in his home can carry him until his next job and he does not even need to pay rent either his living costs are far lower
- Will not wake up at 60 years old paying rent and wondering if his furniture will even fit in the next place
- Does not need to keep the names of a few movers handy
- Owns an asset that will tend to track inflation anyway
- Major tax write offs to free up more money for stonks.
- The home is his, can come and go as he pleases

etc etc

02-24-2021, 03:34 AM

-

#32

xeron
███♣███

xeron
███♣███

Join Date: Aug 2010

Location: New York, New York, United States

Age: 32

Posts: 10,835

Rep Power: 128685

Imagine taking out a $300k loan with interest to go all in some random stock... that’s what you’re doing with a house, except you have all kinds of other expenses a stock doesn’t have so it’d be like $300k loan plus margin fees on top of the interest

Just lol

Make Misc Great Again

02-24-2021, 03:49 AM

-

#33

Hector002
Banned

Hector002
Banned

Join Date: Jul 2020

Posts: 4,771

Rep Power: 0

This thread again

02-24-2021, 03:58 AM

-

#34

wave_length
Retired at 42

wave_length
Retired at 42

Join Date: Dec 2008

Location: Vienna, Austria

Age: 53

Posts: 18,041

Rep Power: 68853

What major tax write offs?

How to lose fat for Noobs: http://forum.obnoxiousbrutes.com/showthread.php?t=129247741

02-24-2021, 04:01 AM

-

#35

ayyy
~20% gay

ayyy
~20% gay

Join Date: Dec 2015

Posts: 10,012

Rep Power: 88829

Originally Posted By xeron⏩

Imagine taking out a $300k loan with interest to go all in some random stock... that’s what you’re doing with a house, except you have all kinds of other expenses a stock doesn’t have so it’d be like $300k loan plus margin fees on top of the interest

Just lol

Official LTC representative

02-24-2021, 04:03 AM

-

#36

Issobolic28
IG Taurus46ott

Issobolic28
IG Taurus46ott

Join Date: Dec 2004

Location: Ottawa, Ontario, Canada

Posts: 34,710

Rep Power: 324159

2 things I miss about renting:

1. Something breaks down; call to building management to have it fixed.

2. You have access to multiple washers and dryers so you can finish your laundry in probably half the time.

02-24-2021, 04:06 AM

-

#37

DesiredUserphag
1:12TilTheDayIFukinDie

DesiredUserphag
1:12TilTheDayIFukinDie

Join Date: Sep 2014

Posts: 40,176

Rep Power: 397140

Originally Posted By xeron⏩

Imagine taking out a $300k loan with interest to go all in some random stock... that’s what you’re doing with a house, except you have all kinds of other expenses a stock doesn’t have so it’d be like $300k loan plus margin fees on top of the interest

Just lol

This x350. LMFAO. "BUT I OWN IT!!!??" nah, the bank and the state does

Fixing sht and mowing the lawn is exactly what I want to do with my time away from work

𝗣𝗨𝗥𝗘𝗕𝗟𝗢𝗢𝗗
ωσяℓ∂ тяανєℓєя ȼяєω ₅₀/₁₉₅
𝕬𝖊𝖘𝖙𝖍𝖊𝖙𝖎𝖈𝖆𝖑𝖑𝖞 𝕮𝖚𝖙 𝕸𝖆𝖘𝖙𝖊𝖗 𝕽𝖆𝖈𝖊 ®
ᗪIᔕᑕᖇIᗰIᑎᗩTIOᑎ E᙭ᑕᒪᑌᔕIOᑎ IᑎᗪOᑕTᖇIᑎᗩTIOᑎ

02-24-2021, 04:09 AM

-

#38

FingerNailsBrah
phaggot here

FingerNailsBrah
phaggot here

Join Date: Nov 2010

Location: Washington, United States

Posts: 19,407

Rep Power: 91977

Originally Posted By DesiredUser****⏩

This x350. LMFAO. "BUT I OWN IT!!!??" nah, the bank and the state does

Fixing sht and mowing the lawn is exactly what I want to do with my time away from work

The op says “ owns his house outright ”

02-24-2021, 04:20 AM

-

#39

vulgoo

vulgoo

Join Date: Feb 2017

Age: 42

Posts: 9,904

Rep Power: 15095

dat property tax

02-24-2021, 04:23 AM

-

#40

phaginator
Ayyy lmao

phaginator
Ayyy lmao

Join Date: Apr 2013

Posts: 36,761

Rep Power: 122033

The cope of the mortgagecels knows no bounds.

Have fun with you life of debtslavery OP.

02-24-2021, 04:38 AM

-

#41

GainzMcgee
Banned

GainzMcgee
Banned

Join Date: Sep 2014

Location: Tampa, Florida, United States

Posts: 11,787

Rep Power: 0

There are pros and cons to both and each can serve purposes for indiviudual circumstances. The fact that OP got babbys first subprime mortgage loan and think he is better than everyone is a sign that he doesnt realize he will be paying almost the entire mortgage amount in interest one time over through the course of the loan and that he has to pay 90% of that interest up front in the first 10 years. Also dont forget, taxes, hoa, cdd you are still SOMEBODYS bitch OP doesnt matter if you rent or "own". In reality we OWN nothing.

02-24-2021, 04:48 AM

-

#42

Brozef
‎ ‎ ‎

Brozef
‎ ‎ ‎

Join Date: Mar 2013

Location: Maine, United States

Posts: 17,033

Rep Power: 210050

Rentcels always ignore the fact that they will NEVER get their rent money back, and that their landlord is profiting from them, even after all the "repairs".

The home buyers almost always make their money back and then some.

What about the fact that you can sell the house before you even actually own it, and you can keep the difference? Never acknowledged.

My last home sold for over $30k over the mortgage after living there for 3 years. Mortgage was $900 / month for a two bedroom. Barely spend anything on "repairs".

My current home is already up $25k in value after two years. After selling this one I'll have enough money for a down payment on a NEW house.

Cope on rent cells. If you can make more than that liquid from investing go for it but all the while you'll be stuffed in a box that's not yours with neighbors on all sides.

02-24-2021, 04:49 AM

-

#43

phaginator
Ayyy lmao

phaginator
Ayyy lmao

Join Date: Apr 2013

Posts: 36,761

Rep Power: 122033

Originally Posted By Brozef⏩

Rentcels always ignore the fact that they will NEVER get their rent money back.

The home buyers almost always make their money back and then some.

What about the fact that you can sell the house before you even actually own it, and you can keep the difference? Never acknowledged.

My last home sold for over $30k over the mortgage after living there for 3 years. Mortgage was $900 / month for a two bedroom.

My current home is already up $25k in value after two years. After selling this one I'll have enough money for a down payment on a NEW house.

Cope on rent cells. If you can make more than that liquid go for it but all the while you'll be stuffed in a box that's not yours with neighbors on all sides.

Implying housing prices only rise...

02-24-2021, 04:51 AM

-

#44

GainzMcgee
Banned

GainzMcgee
Banned

Join Date: Sep 2014

Location: Tampa, Florida, United States

Posts: 11,787

Rep Power: 0

Originally Posted By Brozef⏩

Rentcels always ignore the fact that they will NEVER get their rent money back, and that their landlord is profiting from them.

The home buyers almost always make their money back and then some.

What about the fact that you can sell the house before you even actually own it, and you can keep the difference? Never acknowledged.

My last home sold for over $30k over the mortgage after living there for 3 years. Mortgage was $900 / month for a two bedroom.

My current home is already up $25k in value after two years. After selling this one I'll have enough money for a down payment on a NEW house.

Cope on rent cells. If you can make more than that liquid from investing go for it but all the while you'll be stuffed in a box that's not yours with neighbors on all sides.

Housing was never supposed to be an investment and right now its baby boomer musical chairs, only a matter of time before the music stops.

02-24-2021, 06:03 AM

-

#45

FingerNailsBrah
phaggot here

FingerNailsBrah
phaggot here

Join Date: Nov 2010

Location: Washington, United States

Posts: 19,407

Rep Power: 91977

Originally Posted By Brozef⏩

My current home is already up $25k in value after two years.

Strong market. Mines up +200k in 3 years

02-24-2021, 06:04 AM

-

#46

phaginator
Ayyy lmao

phaginator
Ayyy lmao

Join Date: Apr 2013

Posts: 36,761

Rep Power: 122033

Originally Posted By Anachron⏩

You're welcome to post non-cherry picked historical examples.

Or, You're welcome to show us 1970's property prices anywhere.

You're welcome to show us when the interest rates were 0% too...oh wait

Stop trying to convince other people into debtslavery like you

02-24-2021, 06:51 AM

-

#47

darkninja67
The Dark Lord

darkninja67
The Dark Lord

Join Date: Aug 2009

Posts: 87,403

Rep Power: 802217

Originally Posted By FingerNailsBrah⏩

The op says “ owns his house outright ”

Yeah because once you own it all other expenses are gone forever. LOL

Strong cope in this thread.

BRB central air unit goes down, BRB oven burns out, BRB need a new roof, etc.

rumpler of stiltskins

"I'm not afraid to die, I'm afraid I'll survive and have to watch you suffer" - Thy Art Is Murder

"Life will cease so breathe deep" - Lorna Shore

02-24-2021, 06:54 AM

-

#48

LtGoose

LtGoose

Join Date: Jan 2014

Location: Dallas, Texas, United States

Age: 34

Posts: 33,623

Rep Power: 262212

Your HOA says you aren't allowed to grill or fly an American flag so be a good a little cuck and pay your mandatory HOA fees

02-24-2021, 06:55 AM

-

#49

Jhamaican
Registered User

Jhamaican
Registered User

Join Date: Jan 2006

Posts: 4,056

Rep Power: 42978

but who was time value of money trapped in your home?

the issue at hand is if price of mortgage and ALL costs (often underestimated and not included, including your TIME which is priceless) is <= rent.

In most cases this is not true, as individuals tend to buy a home that is much nicer than that which they rent.

02-24-2021, 06:56 AM

-

#50

phillipsanchez
Registered User

phillipsanchez
Registered User

Join Date: May 2015

Posts: 4,306

Rep Power: 14727

No thanks, bud.
I'll let somebody else pay mortgage and fees while I'll just invest and leverage all the rest.

They can enjoy their depreciating "asset" all they want.

02-24-2021, 07:00 AM

-

#51

Jhamaican
Registered User

Jhamaican
Registered User

Join Date: Jan 2006

Posts: 4,056

Rep Power: 42978

Originally Posted By xeron⏩

Imagine taking out a $300k loan with interest to go all in some random stock... that’s what you’re doing with a house, except you have all kinds of other expenses a stock doesn’t have so it’d be like $300k loan plus margin fees on top of the interest

Just lol

based and true.

and people also falsely assume their house will always appreciate (but who was 2008)

02-24-2021, 07:02 AM

-

#52

Jhamaican
Registered User

Jhamaican
Registered User

Join Date: Jan 2006

Posts: 4,056

Rep Power: 42978

Originally Posted By Brozef⏩

Rentcels always ignore the fact that they will NEVER get their rent money back, and that their landlord is profiting from them, even after all the "repairs".

The home buyers almost always make their money back and then some.

What about the fact that you can sell the house before you even actually own it, and you can keep the difference? Never acknowledged.

My last home sold for over $30k over the mortgage after living there for 3 years. Mortgage was $900 / month for a two bedroom. Barely spend anything on "repairs".

My current home is already up $25k in value after two years. After selling this one I'll have enough money for a down payment on a NEW house.

Cope on rent cells. If you can make more than that liquid from investing go for it but all the while you'll be stuffed in a box that's not yours with neighbors on all sides.

now do the side to side comparison if you had put that trapped value into BTC instead... (pro tip: returns will not even be comparable)

02-24-2021, 07:03 AM

-

#53

WishIWasJawBrah
Misc Enthusiast

WishIWasJawBrah
Misc Enthusiast

Join Date: Sep 2012

Posts: 16,196

Rep Power: 96934

Just LOL if you don't own a house by the time you're 21

02-24-2021, 07:09 AM

-

#54

meanstringbean
Registered User

meanstringbean
Registered User

Join Date: Mar 2019

Age: 56

Posts: 11,550

Rep Power: 58418

lol at owning a house outright, leaving hundreds of thousands dollars on the table by not investing it

02-24-2021, 07:10 AM

-

#55

phillipsanchez
Registered User

phillipsanchez
Registered User

Join Date: May 2015

Posts: 4,306

Rep Power: 14727

Originally Posted By Anachron⏩

So let me guess, you live in your investment portfolio?

Yes, I have a huge horizon because I'm young and can easily sell-off and buy acreage back home whenever I want.
Not a chance I would buy on this side of the country.

02-24-2021, 07:17 AM

-

#56

WoofieNugget

WoofieNugget

Join Date: Jun 2010

Age: 51

Posts: 24,095

Rep Power: 109576

Originally Posted By Brozef⏩

Rentcels always ignore the fact that they will NEVER get their rent money back, and that their landlord is profiting from them, even after all the "repairs".

The home buyers almost always make their money back and then some.

What about the fact that you can sell the house before you even actually own it, and you can keep the difference? Never acknowledged.

My last home sold for over $30k over the mortgage after living there for 3 years. Mortgage was $900 / month for a two bedroom. Barely spend anything on "repairs".

My current home is already up $25k in value after two years. After selling this one I'll have enough money for a down payment on a NEW house.

Cope on rent cells. If you can make more than that liquid from investing go for it but all the while you'll be stuffed in a box that's not yours with neighbors on all sides.

For those five years you have paid mostly only interest to the bank. Probably almost zero towards the actual principal of the loan. If you sell it, you pay land transfer taxes and probably realtor fees, which will cut out most of that profit you're talking about. Oh, and in 5 years you've paid probably at least 15k in property taxes as well. So your supposed profit isn't as much as you think.

55k profit - 15k realtor/lawyer fees if you sold, 5k in land transfer and another 15k in property tax means actual profit of 20k in five years. And your mortgage principal is probably exactly the same. Only person laughing is your bank.

If you took out a loan for 300k and invested it at a return of 6% you would be 100k up in that same five years.

02-24-2021, 07:24 AM

-

#57

entropy91
Registered User

entropy91
Registered User

Join Date: Nov 2020

Age: 56

Posts: 7,309

Rep Power: 21093

Originally Posted By Brozef⏩

Rentcels always ignore the fact that they will NEVER get their rent money back, and that their landlord is profiting from them, even after all the "repairs".

The home buyers almost always make their money back and then some.

What about the fact that you can sell the house before you even actually own it, and you can keep the difference? Never acknowledged.

My last home sold for over $30k over the mortgage after living there for 3 years. Mortgage was $900 / month for a two bedroom. Barely spend anything on "repairs".

My current home is already up $25k in value after two years. After selling this one I'll have enough money for a down payment on a NEW house.

Cope on rent cells. If you can make more than that liquid from investing go for it but all the while you'll be stuffed in a box that's not yours with neighbors on all sides.

All the housing prices went up, so you lost money when you factor in all of the closing costs and other fees. Only way that's a good tradeoff is if you sold your home in somewhere like Cali and moved to Texas.

02-24-2021, 07:29 AM

-

#58

LYCLifter
Registered User

LYCLifter
Registered User

Join Date: Sep 2014

Location: Austin, Texas, United States

Posts: 469

Rep Power: 10132

Originally Posted By WoofieNugget⏩

55k profit - 15k realtor/lawyer fees if you sold, 5k in land transfer and another 15k in property tax means actual profit of 20k in five years. And your mortgage principal is probably exactly the same. Only person laughing is your bank.

Ok so I get $20K. How much do you get with renting when you leave? Where I live monthly rental costs are well ABOVE what I am paying monthly for my mortgage (which will not go up due to demand in the rental market BTW). How are people who are renting all of a sudden having all of this extra money to invest to make more money then the possible increase in home value?

02-24-2021, 07:42 AM

-

#59

meanstringbean
Registered User

meanstringbean
Registered User

Join Date: Mar 2019

Age: 56

Posts: 11,550

Rep Power: 58418

Originally Posted By WoofieNugget⏩

For those five years you have paid mostly only interest to the bank. Probably almost zero towards the actual principal of the loan. If you sell it, you pay land transfer taxes and probably realtor fees, which will cut out most of that profit you're talking about. Oh, and in 5 years you've paid probably at least 15k in property taxes as well. So your supposed profit isn't as much as you think.

55k profit - 15k realtor/lawyer fees if you sold, 5k in land transfer and another 15k in property tax means actual profit of 20k in five years. And your mortgage principal is probably exactly the same. Only person laughing is your bank.

If you took out a loan for 300k and invested it at a return of 6% you would be 100k up in that same five years.

Dont forget that the house he is buying also appreciated as much in value as the house he sold. So unless he is making lateral moves and pocketing some, he is spinning wheels in mud