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Forum » Mortgagecucks - answer me this
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Thread: Mortgagecucks - answer me this

post 1666352783 08-18-2022, 05:47 PM
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#61
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Originally Posted By PlanoLifter⏩
You're looking at it wrong. Pay for $1500/mo for 25 year mortgage and you own the home. Pay $1500/mo in rent for 25 years and own nothing. Think before you post.
post 1666353073 08-18-2022, 05:53 PM
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ITT, OP isn't aware of the most basic fact that mortgagecells can actually sell their house, make major profit AND still then be in a far better position than him.

Talk about an all time backfire.
post 1666353283 08-18-2022, 05:57 PM
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Originally Posted By dopamine72⏩
Why would I worry? If anything goes wrong I can sell my place (hot area) and cash out with about a quarter mil in profit and over a half mill in equity.

Why wouldn't you want to put your money into appreciating assets? Especially in times like these when our appreciating assets keep us safer during hyper inflation.

Why would you want to give your money to someone else never to be seen again (rent) and not build equity (mortgage) that you can cash out on later?

Logic not even once
I don't think he's intelligent enough to realize what a great hedge real estate is inflationary times.

And he's most likely too low income to realize not 'everyone' gets crushed by a mortgage payment. Pay a mortgage. Pay a rent Its the same **** except with the mortgage you retain the money you put in.



Originally Posted By 300Lane1⏩
Couldn't you essentially walk away from your house and be where OP's at? Either way we're locked in at 2.75% for 30 years. We pay $1,000 additional so we'll be paid off in 15ish years.

No HOA fees and currently looking for a rental in a state we might possibly retire in.
Depending on how much you put down/into the home and the cost of rentin the area, yeah, pretty much. You could basically give the house to someone to take over the mortgage and be in the exact same spot OP's in. Or, if you put money down/have equity sell it for a break even quickly so you don't lose any money.


I have quiet a few friends in the 28-35 age range that have already bought/sold 2-3 houses and have turned a profit on all of them. I think a lot of rentcels think when you sign a 30 year mortgage you're stuck living there for 30 years. Buying/selling houses isn't difficult at all. I also have a cousin that's 40 that has bought/sold 12 homes so far. (Profits or break even on all of them). They started in the 300K home range and are now in the 1M home range.
post 1666353503 08-18-2022, 06:01 PM
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Originally Posted By bananastand11⏩
ITT, OP isn't aware of the most basic fact that mortgagecells can actually sell their house, make major profit AND still then be in a far better position than him.

Talk about an all time backfire.
OP here

1) I own a place too but I have it rented out so I am gaining equity

2) It takes at least several months and a long, drawn out process to sell a home. This involves lawyers, agents on both sides, buyer not dipping out, etc. Most mortgagecucks are under stress to continue working, mentally tied to wagecucking to pay the 30 year mortgage payments stuck on them.
post 1666353533 08-18-2022, 06:02 PM
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Originally Posted By sf813⏩
I rent but purposely live on month-to-month flexibility terms which means I can leave my place with one month notice at any time. I also have large emergency savings that'll last me years so I give zero fuks about my job and whether I lose it or not so I feel a lot of freedom. I have zero fear about going jobless as I have no mortgage payments hanging over my head and not stuck with it.

You have a 30 year mortgage that you're stuck with and I bet you sweat bullets every day to keep performing at your job and stay wagecucking
I went with Option C: Paid-off home, no mortgage
post 1666353553 08-18-2022, 06:02 PM
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Originally Posted By r32gojirra⏩
Rentceling > living with your parents
Imagine being so gay for another miscer that even when he's trolling on your side on a topic, you still find it necessary to quote him in the thread.

My dick is so far down your throat right now typing is just about the only form of communication you can give.
"One day I won't be able to lift any more. Not I won't want to lift. I mean physically unable. That day could be decades from now or it could be tomorrow. All I know is that's the day I'll wish I could lift more than ever. The day I'd give anything for one more workout, one more set, or one more cardio session. So go hard and enjoy every workout, every set, every rep. Because one day you will wake up and you will never get it back."
-SoutheastBeast1
post 1666353683 08-18-2022, 06:05 PM
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post 1666353873 08-18-2022, 06:10 PM
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Originally Posted By LinuxJon⏩
Answer:

My mortgage is $2300. In 30 years, it'll still be $2300. In 31 years, it'll be gone.

If your rent is $2300, in 30 years it'll be $10k. lol
in 30 years, you will be dead. This is why normie arguments always lose.
post 1666353933 08-18-2022, 06:11 PM
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Originally Posted By SoutheastBitch1⏩
Imagine being so gay for another miscer that even when he's trolling on your side on a topic, you still find it necessary to quote him in the thread.

My dick is so far down your throat right now typing is just about the only form of communication you can give.
Lol
Originally Posted By SoutheastBitch1⏩
Are you a lost cause socially?

I feel like I am. Not just with girls but people in general.

-Struggle to connect with people
-No idea what to talk about with them
-Most social events feel like a chore rather than something to look forward to
-Hard time trusting others
-Not good at making friends
-Always an outcast in team/group settings... don’t work well with others basically

Not just personally but professionally as well. Even within family settings too.

I’ve tried switching environments (new friends, new jobs, new cities, new universities) and there’s never a place that I’ve really fit. Mostly just consider myself a lost cause at this point.

Starting to accept I’ll always be out of place no matter what.

I imagine a lot other miscers are like this too
post 1666354003 08-18-2022, 06:14 PM
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Buying is only worth it if you have children ad want to have something stable and to eventually leave it to them when your gone. If you don't plan or have children then buying is a complete waste of time and energy.
post 1666354123 08-18-2022, 06:17 PM
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Originally Posted By r32gojirra⏩
How salty are you about the recent interest rate rises? I remember you gloating about starting your property venture which in hindsight is probably the worst time in Australian history you could have done so
post 1666354623 08-18-2022, 06:27 PM
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Poor people rent, wealthy people buy, pretty simple peasant OP
post 1666355163 08-18-2022, 06:36 PM
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Originally Posted By bobmuscle⏩
Poor people rent, wealthy people buy, pretty simple peasant OP
Bull chit, wealthy people move their money where they get the best returns. I know plenty of people who rent inner city appartments but own commercial realestate or businesses for example.
post 1666355193 08-18-2022, 06:37 PM
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Originally Posted By shreddedloser⏩
How salty are you about the recent interest rate rises? I remember you gloating about starting your property venture which in hindsight is probably the worst time in Australian history you could have done so
Why would interest rates possibly affect me?
post 1666355303 08-18-2022, 06:39 PM
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#75
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Originally Posted By bobmuscle⏩
Poor people rent, wealthy people buy, pretty simple peasant OP
To be fair. Some wealthy people do just rent. But they are so wealthy it doesn't matter.

Home ownership is a fairly important tool in building wealth. The majority of self made millionaires own instead of renting.
post 1666355433 08-18-2022, 06:42 PM
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Originally Posted By r32gojirra⏩
Why would interest rates possibly affect me?
Because we both know it does and its evident in you contempt for your tenants
post 1666355503 08-18-2022, 06:44 PM
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Originally Posted By shreddedloser⏩
Because we both know it does and its evident in you contempt for your tenants
If we both know shouldn’t be difficult for you to explain right?
post 1666355743 08-18-2022, 06:48 PM
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Originally Posted By NextPound⏩
Mortgages are a hedge against inflation.

Rents due, also it just went up 10%.

LOL @ rentcels, srs.
Rent is a major component of CPI.

Fed increases interest rate to curb CPI, Bank passes it on to mortgage holders, Landlords pass it on to tenants, CPI goes up again.

Repeat the cycle.
post 1666355853 08-18-2022, 06:51 PM
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Originally Posted By r32gojirra⏩
If we both know shouldn’t be difficult for you to explain right?
But its the Misc right and were all CEO 10k a daying and buying houses with suitcases of cash right?
post 1666356253 08-18-2022, 06:56 PM
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Originally Posted By shreddedloser⏩
But its the Misc right and were all CEO 10k a daying and buying houses with suitcases of cash right?
Close enough.

So again I ask, how do interest rates movements impact on me?
post 1666356313 08-18-2022, 06:57 PM
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In my city currently it's a smarter financial decision to rent than buy because rental rates are way lower than cost of owning for an equivalent property. I'd be paying $1500 a month more if I owned this place than it costs me to rent it, so it's a no brainer for now. That's a 60% difference.

I'm sure over time that will change, and purchase prices are starting to drop like a stone. I'm looking at three years from now when everyone has to renew who overpaid for their properties because they got FOMO and are house poor already it will be a great time to get in. In Canada we have to renew every five years so in about 2025 a lot of people are screwed.

Renting versus buying is pros versus cons. Renting brings flexibility, usually more home for your money and no need to stress about big issues. Buying is developing a good financial asset.
post 1666356523 08-18-2022, 07:01 PM
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Originally Posted By LinuxJon⏩
Answer:

My mortgage is $2300. In 30 years, it'll still be $2300. In 31 years, it'll be gone.

If your rent is $2300, in 30 years it'll be $10k. lol
This all that money your hoarding in your bank account is rapidly losing value inflation is a one way train
post 1666356663 08-18-2022, 07:06 PM
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you dun goofed if you rent

but who was flipping for a phat profit

lol @ living there for 30 years
post 1666358093 08-18-2022, 07:36 PM
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Originally Posted By sf813⏩
OP here

1) I own a place too but I have it rented out so I am gaining equity

2) It takes at least several months and a long, drawn out process to sell a home. This involves lawyers, agents on both sides, buyer not dipping out, etc. Most mortgagecucks are under stress to continue working, mentally tied to wagecucking to pay the 30 year mortgage payments stuck on them.
Just lmfao at your point 2. I have no idea what bubble you're living in.

Here's what actually happened in the real world. My parents spoke to a real estate agent to get the house valued.

The real estate agent came, and during the visit mentioned he has several lookers who may be interested.

By the end of the next day they had two offers, and accepted one of them. Didn't even advertise. OK Jeff.

Such stress. Much several months. Crazy long process.
post 1666358353 08-18-2022, 07:40 PM
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Originally Posted By NextPound⏩
You literally have no idea what you are talking about.
OK, aware me then since your so knowledgable about economics.
post 1666358503 08-18-2022, 07:44 PM
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Originally Posted By sf813⏩
...You have a 30 year mortgage that you're stuck with and I bet you sweat bullets every day to keep performing at your job and stay wagecucking
What makes you think I'm "stuck" with it?

I can sell my house faster than you can wait for your 1 month rent to be up.

Then I get money back for doing it.

What am i supposed to be answering??
post 1666358513 08-18-2022, 07:44 PM
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All I see in this thread is a bunch of but hurt property investors who thought they could get rich quick. Its quite hilarious. And this is coming from someone who bought a family home 2.5 years ago at the beginning of this madness.
post 1666358543 08-18-2022, 07:45 PM
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Originally Posted By NextPound⏩
Rents due, also it just went up 10%.

LOL @ rentcels, srs.
theres rent control here and it only goes up 1.5-2% a year

and they put a freeze on rent increase for last 2 years due to covid, LOL

then the non eviction too. lots of ppl not paying rent meanwhile that mortgage is still due otherwise you lose the house!

imagine getting bankrupted due to guvment mandates who are run by the banks, JUAST LOL
post 1666358613 08-18-2022, 07:46 PM
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Originally Posted By Numba1Misker⏩
theres rent control here and it only goes up 1.5-2% a year

and they put a freeze on rent increase for last 2 years due to covid, LOL

then the non eviction too. lots of ppl not paying rent meanwhile that mortgage is still due otherwise you lose the house!

imagine getting bankrupted due to guvment mandates who are run by the banks, JUAST LOL
Imagine wanting to move to go travel but you're locked into a 6 month lease, meanwhile any homeowner in this thread could sell their house within a week and get a nice fat cheque to bring with them on their travels.
post 1666358723 08-18-2022, 07:48 PM
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Well, OP...

If renting fits your lifestyle, great. However, the buildings I pay mortgage on will maintain the same monthly payment for the entire span of the loan. I will own each building and only pay property tax (which will also not change much if at all) after it is all said and done. I rent out a portion of each building so I don't really pay anything out of my pocket, though.

Now your rent will go up when your lease is up and eventually will cost more than what a mortgage would be if you bought a house a few years ago. So, maybe you're a wizkid with investing and used the extra money right now to build your wealth, but that's very unlikely.

Anyways, rent is due on the 31st, don't be late and we'll fix your AC next month.
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