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U Must Own As Many Properties As U Can...
12-14-2021, 06:08 PM
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#61
Originally Posted By JPF82⏩
These little autists lolIs my math wrong or does this not make sense?
350k @ 3.2% interest rate over 30 years is around a little less than 600k, yet you claim he made 600k in the first 20 years........
How were you eating and surviving?
Unless I am missing something or I am a dumbass which I am willing to concede
Edit, I used a crazy low interest rate (today's interest rate)
So your dad spent $959,000 in 30 years of this house.......still doesn't make sense how he had enough money to afford the house with a $2,664 mortgage and including taxes and whatever else.....
Year............... Average 30-Year Rate
1992......... 8.39%
1993.......... 7.31%
1994........... 8.38%
1995......... 7.93%
350k @ 3.2% interest rate over 30 years is around a little less than 600k, yet you claim he made 600k in the first 20 years........
How were you eating and surviving?
Unless I am missing something or I am a dumbass which I am willing to concede
Edit, I used a crazy low interest rate (today's interest rate)
So your dad spent $959,000 in 30 years of this house.......still doesn't make sense how he had enough money to afford the house with a $2,664 mortgage and including taxes and whatever else.....
Year............... Average 30-Year Rate
1992......... 8.39%
1993.......... 7.31%
1994........... 8.38%
1995......... 7.93%
Most Asian immigrants come to Canada with some money. We weren’t refugees.
My dad owned a condo in Shanghai which he sold for 100k. It was the down payment for the 350k house.
Now run the numbers again
12-14-2021, 06:10 PM
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#62
Originally Posted By CulturalDecay⏩
Lol@ this dumbazz feeling stupid for writing a novel for nothing.Your math isn't wrong. The monthly payment on a $350k loan for 30-year fixed rate @ 8% back in the early 90's would be $2,500/month
This is yet another example of Slaydom being completely full of chit - all this guy does is lie, and it's obvious.
Not to mention, a $350k house back in the early 90's is FOOOOKING EXPENSIVE, the median home price in 1992 was right at $100k - adjusted for inflation that's $192,000.
So how was this immigrant janitor making $40k/yr with a wife and a short little slanty-eyed kid (who'd later grow up and lie about girls & money on a bodybuilding forum) buying a house that was 3x the median home price? How did he even afford the monthly payments - this doesn't even include taxes, insurance, maintenance, utilities, etc.
LOL avoids the question and/or doesn't even understand how he just got outed for being full of chit.....again.
Bro, stop being stupid. People who don't have a clue about real estate & finance......should probably not try and lie about Real Estate & Finance.
This is yet another example of Slaydom being completely full of chit - all this guy does is lie, and it's obvious.
Not to mention, a $350k house back in the early 90's is FOOOOKING EXPENSIVE, the median home price in 1992 was right at $100k - adjusted for inflation that's $192,000.
So how was this immigrant janitor making $40k/yr with a wife and a short little slanty-eyed kid (who'd later grow up and lie about girls & money on a bodybuilding forum) buying a house that was 3x the median home price? How did he even afford the monthly payments - this doesn't even include taxes, insurance, maintenance, utilities, etc.
LOL avoids the question and/or doesn't even understand how he just got outed for being full of chit.....again.
Bro, stop being stupid. People who don't have a clue about real estate & finance......should probably not try and lie about Real Estate & Finance.
I literally just answered the question.
12-14-2021, 06:17 PM
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#63
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Originally Posted By Anachron⏩
Well just to avoid any confusion, Australia does not impose currency controls so we’re free to buy whatever currencies we like (assuming that currency is for sale)
Even if it’s not for sale you can still buy it if you’re a citizen of that country, but selling it incurs tax depending on tax residency
Glad I could clear that up for you, lmk if you have any other questions
12-14-2021, 06:18 PM
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#64
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Originally Posted By Slaydom⏩
No, you just came up with a new lie, to attempt to cover up your previous lie.Lol@ this dumbazz feeling stupid for writing a novel for nothing.
I literally just answered the question.
I literally just answered the question.
Even with $100k down, he still would have to finance $250k @8 percent - which is still $1850/month - before taxes, before fees, before utilities, before maintenance, before insurance, etc.
His alleged salary as a janitor was $40k/yr - that's $just over $3k/month BEFORE taxes.
LOL just LOL at getting exposed this hard.
Keep doubling down on the lie though. Maybe next you'll tell us he got a special interest rate because he was in the Asian-Janitor mafia and they gave him a 1% interest loan?
LOL JUST LOL at all your frauding. Pathetic.
12-14-2021, 06:25 PM
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#65
Originally Posted By CulturalDecay⏩
That’s about right.No, you just came up with a new lie, to attempt to cover up your previous lie.
Even with $100k down, he still would have to finance $250k @8 percent - which is still $1850/month - before taxes, before fees, before utilities, before maintenance, before insurance, etc.
His alleged salary as a janitor was $40k/yr - that's $just over $3k/month BEFORE taxes.
LOL just LOL at getting exposed this hard.
Keep doubling down on the lie though. Maybe next you'll tell us he got a special interest rate because he was in the Asian-Janitor mafia and they gave him a 1% interest loan?
LOL JUST LOL at all your frauding. Pathetic.
Even with $100k down, he still would have to finance $250k @8 percent - which is still $1850/month - before taxes, before fees, before utilities, before maintenance, before insurance, etc.
His alleged salary as a janitor was $40k/yr - that's $just over $3k/month BEFORE taxes.
LOL just LOL at getting exposed this hard.
Keep doubling down on the lie though. Maybe next you'll tell us he got a special interest rate because he was in the Asian-Janitor mafia and they gave him a 1% interest loan?
LOL JUST LOL at all your frauding. Pathetic.
food was cheap back then
Like 80 bucks a week for the whole family. Didn’t eat out. Had my first steak at 20.
Cable was 20 bucks.
We had 56k modem. Think it was free. AOL user.
Had a beat up Buick station wagon for 1500 bucks. Owned it.
Gas was cheap too. Like 20 bucks per fillup.
He never bought us new clothes. No trips. Etc.
I started working at 12. Paper boy. Bought my own chit
We were so poverty. I couldn’t pay for school field trips lol.
I had to buy my own year books. Haha
It was poverty living. But we made it
12-14-2021, 06:26 PM
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#66
12-14-2021, 06:28 PM
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#67
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Originally Posted By Slaydom⏩
Strong distorted perception of reality JUST lol.My dad worked his entire life as a wagecuck. First as a janitor when we first got to Canada. He was a janitor for 20 years until he was 60. Making 40K/yr supporting the whole family.(take home pay was 30K) Mom doesn't speak english, no work. During those 10 years, he went to school at night and worked full time, got his electrician certificate. In the last 10 years of his career, he became an electrician making on average 80K/yr(take home was around 55K).
over his entire 30 year career in Canada. he made 660K in the first 20 years. 550K in the last 10 years.
that is around 1.1 million.
He bought a house 30 years ago for 350K in Richmond Hill, Ontario. That house today is worth 2.6 million.
He made more than double the money, owning this house, than he worked his entire career.
BUY PROPERTY. that is the key to wealth as an everyday man.
over his entire 30 year career in Canada. he made 660K in the first 20 years. 550K in the last 10 years.
that is around 1.1 million.
He bought a house 30 years ago for 350K in Richmond Hill, Ontario. That house today is worth 2.6 million.
He made more than double the money, owning this house, than he worked his entire career.
BUY PROPERTY. that is the key to wealth as an everyday man.
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12-14-2021, 06:28 PM
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#68
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Originally Posted By Ratfish⏩
But what about the other properties you ownMy house has gone up a ton in value but that doesnt benefit me in any tangible way
Can’t you sell one of those and re-up with the profits?
12-14-2021, 06:32 PM
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#69
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Depends on a lot of factors. I have friends that can’t collect rent or evict tenants from rental properties that they bought 4 years ago. It was rough for them, but fortunately, they weren’t over leveraged. My dad bought 3 rental properties back in 2006. Turned out badly, and it took 10 years to recover. Part of it is reading the market, part of it is adapting, and part of it is just luck.
12-14-2021, 06:35 PM
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#70
Originally Posted By Adam16121⏩
Can you tell me what happened to your dad’s properties??Depends on a lot of factors. I have friends that can’t collect rent or evict tenants from rental properties that they bought 4 years ago. It was rough for them, but fortunately, they weren’t over leveraged. My dad bought 3 rental properties back in 2006. Turned out badly, and it took 10 years to recover. Part of it is reading the market, part of it is adapting, and part of it is just luck.
Yes. Try to buy in major metro cities
12-14-2021, 06:46 PM
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#71
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Originally Posted By Slaydom⏩
BRUH, just stop. You've been caught either not understanding how this works - or lying entirely (the most likely of the 2 scenarios)That’s about right.
food was cheap back then
Like 80 bucks a week for the whole family. Didn’t eat out. Had my first steak at 20.
Cable was 20 bucks.
We had 56k modem. Think it was free. AOL user.
Had a beat up Buick station wagon for 1500 bucks. Owned it.
Gas was cheap too. Like 20 bucks per fillup.
He never bought us new clothes. No trips. Etc.
I started working at 12. Paper boy. Bought my own chit
We were so poverty. I couldn’t pay for school field trips lol.
I had to buy my own year books. Haha
It was poverty living. But we made it
food was cheap back then
Like 80 bucks a week for the whole family. Didn’t eat out. Had my first steak at 20.
Cable was 20 bucks.
We had 56k modem. Think it was free. AOL user.
Had a beat up Buick station wagon for 1500 bucks. Owned it.
Gas was cheap too. Like 20 bucks per fillup.
He never bought us new clothes. No trips. Etc.
I started working at 12. Paper boy. Bought my own chit
We were so poverty. I couldn’t pay for school field trips lol.
I had to buy my own year books. Haha
It was poverty living. But we made it
You said this was in Toronto - Ok, that's in the province of Ontario, which has a 5% income tax rate, on top of the 15% federal tax rate for earning less than $48k/yr.
That would leave your father with $32k/year net or $2,600/month.
Your mortgage payment on $250k financed at 8% fixed is $1850.
That leaves $750/month leftover and we have not even included property taxes, insurance, utilities, or maintenance on the house.
So if we're being SUPER generous lets say all that combined will leave you with $400/month - so now you have only $400/month to support a family of 3?
Really bro - I thought Asian twinks like you are supposed to be good at math?? How'd you screw this up so bad bro - LOL just LOL at this guy.
12-14-2021, 07:02 PM
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#72
Originally Posted By CulturalDecay⏩
BRUH, just stop. You've been caught either not understanding how this works - or lying entirely (the most likely of the 2 scenarios)
You said this was in Toronto - Ok, that's in the province of Ontario, which has a 5% income tax rate, on top of the 15% federal tax rate for earning less than $48k/yr.
That would leave your father with $32k/year net or $2,600/month.
Your mortgage payment on $250k financed at 8% fixed is $1850.
That leaves $750/month leftover and we have not even included property taxes, insurance, utilities, or maintenance on the house.
So if we're being SUPER generous lets say all that combined will leave you with $400/month - so now you have only $400/month to support a family of 3?
Really bro - I thought Asian twinks like you are supposed to be good at math?? How'd you screw this up so bad bro - LOL just LOL at this guy.
You said this was in Toronto - Ok, that's in the province of Ontario, which has a 5% income tax rate, on top of the 15% federal tax rate for earning less than $48k/yr.
That would leave your father with $32k/year net or $2,600/month.
Your mortgage payment on $250k financed at 8% fixed is $1850.
That leaves $750/month leftover and we have not even included property taxes, insurance, utilities, or maintenance on the house.
So if we're being SUPER generous lets say all that combined will leave you with $400/month - so now you have only $400/month to support a family of 3?
Really bro - I thought Asian twinks like you are supposed to be good at math?? How'd you screw this up so bad bro - LOL just LOL at this guy.
12-14-2021, 07:10 PM
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#73
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Originally Posted By Slaydom⏩
I know, my IQ is off the charts - thanks brah!I'd avoid answering the question also if I were you!
You're now classified as FRAUD on sight.
12-14-2021, 07:18 PM
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#74
Originally Posted By CulturalDecay⏩
Ur autisticI know, my IQ is off the charts - thanks brah!
I'd avoid answering the question also if I were you!
You're now classified as FRAUD on sight.
I'd avoid answering the question also if I were you!
You're now classified as FRAUD on sight.
U r approaching an estimated situation with exact mathematics. Pure autistic stupidity.
Even with ur math. We were prob living on 500/month at that time. Lmfao We are talking stuff from 25 yrs ago off my memory. This idiot I swear
Nothing I wrote in op is exact. I don’t know his exact salary. Could’ve been 44k. He could’ve sold the condo for 120k. And maybe he had savings from Shanghai too. I don’t know the exact premise. The house could’ve been 325K.
All of this was more than 20 years ago
Do you understand how retarded you are? Fukken hell
I can already see you now
12-14-2021, 07:22 PM
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#75
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Originally Posted By Slaydom⏩
Too many renters not paying, too many lawsuits to file, and of course, the crash. It affected it his business greatly, so he had to sell properties at a loss just to stabilize. Once his main income source was shot, he was over leveraged, burned through savings to pay the mortgages, and sold to stop the bleeding. He was ambitious at the wrong time.Can you tell me what happened to your dad’s properties??
Yes. Try to buy in major metro cities
Yes. Try to buy in major metro cities
12-14-2021, 07:23 PM
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#76
12-14-2021, 07:25 PM
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#77
Originally Posted By Adam16121⏩
Ya that’s the problem here too.Too many renters not paying, too many lawsuits to file, and of course, the crash. It affected it his business greatly, so he had to sell at a loss just to stabilize. Once his main income source was shot, he was over leveraged, burned through savings to pay the mortgages, and sold at a loss to stop the bleeding.
I’ll do 2 properties and rent it out. Renters not paying scared me
12-14-2021, 07:25 PM
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#78
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Originally Posted By Slaydom⏩
Should be coming soon, Market pricing in two - four rate hikes in 2022.Ya that’s the problem here too.
I’ll do 2 properties and rent it out. Renters not paying scared me
I’ll do 2 properties and rent it out. Renters not paying scared me
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12-14-2021, 07:26 PM
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#79
12-14-2021, 08:29 PM
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#80
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Originally Posted By Anachron⏩
Well if you must know, a dry vodka martini with 3 olives, but what does that have to do with you not knowing that currency exchanges exist?This is why I started calling kangaroocels koalacels - you're not the brightest bunch...
As I said,whatever helps you sleep at night.
As I said,whatever helps you sleep at night.
Originally Posted By Realclout⏩
Lmao you do understand how monetary policy works right? The factors taken into account by the central bank?Should be coming soon, Market pricing in two - four rate hikes in 2022.
Right?
12-14-2021, 08:30 PM
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#81
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Originally Posted By r32gojirra⏩
I regularly benefit from SELLING your PISS tier DEPRECIATING kangaroo DOLLARS of PISS just LOL.Well if you must know, a dry vodka martini with 3 olives, but what does that have to do with you not knowing that currency exchanges exist?
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12-14-2021, 08:37 PM
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#82
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Originally Posted By Realclout⏩
If they’re depreciating then how do you make money from selling themI regularly benefit from SELLING your PISS tier DEPRECIATING kangaroo DOLLARS of PISS just LOL.
Buy high sell low? It sick it piss
12-14-2021, 08:45 PM
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#83
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Originally Posted By r32gojirra⏩
Clearly you don't know much about currency exchanges or Monetary policy JUST lol.Well if you must know, a dry vodka martini with 3 olives, but what does that have to do with you not knowing that currency exchanges exist?
Lmao you do understand how monetary policy works right? The factors taken into account by the central bank?
Right?
Lmao you do understand how monetary policy works right? The factors taken into account by the central bank?
Right?
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12-14-2021, 08:46 PM
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#84
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Originally Posted By r32gojirra⏩
Lol at this LEVEL of SUB-human BANTER confirmed NOT gonna make it SMOOTH brain. I am buying RIGHT now BUT I am gonna DUMP on your PISS-tier kangaroo dollars in the next week or two.If they’re depreciating then how do you make money from selling them
Buy high sell low? It sick it piss
Buy high sell low? It sick it piss
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12-14-2021, 09:08 PM
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#85
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Originally Posted By Anachron⏩
Lol backpedal? I didn’t delete any posts. They’re all up there intact.Nice backpedal via faking ignorance.
Just LOL @ koalacels srs.
Just LOL @ koalacels srs.
But whatever lets you cope kid
Originally Posted By Realclout⏩
So…. You think the currency will go up in value from here relative to whatever currency you bought it in?Lol at this LEVEL of SUB-human BANTER confirmed NOT gonna make it SMOOTH brain. I am buying RIGHT now BUT I am gonna DUMP on your PISS-tier kangaroo dollars in the next week or two.
K den
12-14-2021, 09:12 PM
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#86
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I own 2, bought them during lock down before the market went nuts. I rent out a 5 bedroom house and live in a 2 bedroom house with a big garage. Im able to make a profit from the rental, covers the mortgage plus a little in the pocket. Wish I could swing another property but not at a place right now to do so. I think housing market is going to come way down within the next couple years. Will hopefully buy when houses are low. My dad owns 16 houses. Don't want that many but 3-4 nice houses would be nice.
12-14-2021, 09:14 PM
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#87
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Most people simply cannot afford a down payment for a house. INCOME is everything. INCOME is the number one tool for building wealth.
12-14-2021, 09:15 PM
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#88
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Originally Posted By bsrkoacar2⏩
Are you going to sell the houses you have now before the crash?I own 2, bought them during lock down before the market went nuts. I rent out a 5 bedroom house and live in a 2 bedroom house with a big garage. Im able to make a profit from the rental, covers the mortgage plus a little in the pocket. Wish I could swing another property but not at a place right now to do so.I think housing market is going to come way down within the next couple years. Will hopefully buy when houses are low. My dad owns 16 houses. Don't want that many but 3-4 nice houses would be nice.
12-14-2021, 09:16 PM
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#89
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Originally Posted By Anachron⏩
5 consecutive posts now saying absolutely nothing.Didn't say you did.
Thanks for illustrating that koalacel is a much better term than kangaroocel. Kangaroos aren't that dumb, but koalas certainly are.
Thanks for illustrating that koalacel is a much better term than kangaroocel. Kangaroos aren't that dumb, but koalas certainly are.
If you disagreed with anything I said you had ample opportunity to point it out but you didn’t.
Must be that superior intellect I’ve heard so much about
Stay mad kid
12-14-2021, 09:16 PM
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#90
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Originally Posted By bsrkoacar2⏩
I'm on the fence about buying another property as well. With inflation running rampant and housing allegedly in short supply I'm inclined to think buying sooner rather than later would be better.I own 2, bought them during lock down before the market went nuts. I rent out a 5 bedroom house and live in a 2 bedroom house with a big garage. Im able to make a profit from the rental, covers the mortgage plus a little in the pocket. Wish I could swing another property but not at a place right now to do so. I think housing market is going to come way down within the next couple years. Will hopefully buy when houses are low. My dad owns 16 houses. Don't want that many but 3-4 nice houses would be nice.
Why do you think housing may take a down turn?
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