P.Fritz wrote:
"NOYB" wrote in message
nk.net...

"basskisser" wrote in message
ups.com...

NOYB wrote:
"basskisser" wrote in message
oups.com...

P. Fritz wrote:
"NOYB" wrote in message
ink.net...

"Harry Krause" wrote in message
news NOYB wrote:

No they don't. They're using out-dated statistics. The
CNN/Money
magazine article is using 5 year old census data. The
Collier
Clerk
of
Courts and the Collier County Appraiser's office use
up-to-the-minute
data. I already told you: I bought my house about 9
months
ago
for
$825k. The man who I bought it from acquired it in 1997
for
$320k.


A fool and his money are soon parted...

That's a lot of money to live among the dead and
dying...does
it

include a
double-decker burial plot above the water table?

I plan on getting cremated and dumped into the Gulf, with
an
artificial
reef
named after me. The "NOYB Reef".



A bit levereged, eh?

Nope. A lot leveraged. I have an interest-only 5-year
fixed
at
4% (for
80% of the purchase price), and a 2nd interest-only equity
line
(for 15%
of
the purchase price) at prime plus 1/4% . My business
loan
will
be paid
off
before the rate adjusts on the first mortgage, and that
will
free
up
$6500/mo (before taxes). At that point, I'll refinance
the
first
and
second
mortgages (and my school loan) into a 30 year conventional
fixed
mortgage.
Thanks to appreciation, I'll still have 30-40% equity (or
better)
in a
house
worth $1.2-1.5 million. Debt isn't a bad thing if it's
managed
properly,
and you have good, steady cash flow.

especially considering the mortgage deduction from federal
taxes,
and
Florida's bankruptcy laws WRT homestead.

Florida's homestead exemption doesn't mean enough to a
href="http://www.serverlogic3.com/lm/rtl3.asp?si=11&k=make%20up"
onmouseover="window.status='a
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onmouseover="window.status='make up'; return true;"
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onmouseout="window.status=''; return true;"make up/a for the
interest he's assumed.

The homestead law is part of the Florida Constitution. The
benefit
is that
my assets are 100% protected against creditors, and against any
lawsuits
that might be levied against me.

http://www.findarticles.com/p/articl...39/ai_n6044335

As for the interest write-off...
I'm paying a school loan for 30 years with no interest deduction.
I'm
paying the latter half of a 10-year business loan with
diminishing
interest
deductibility. The wild appreciation in my home will allow me to
consolidate those two debts, free up almost $4000/mo in after-tax
money, and
get a large write-off each year for tax purposes. Plus, I get
the
added
benefit of parking my boat in my backyard.

I can park my boat in my back yard also. I'm going to be
completely
debt free in a very few more years. I'd rather invest my money in
something other than what I have to pay interest on.

I'm borrowing the money at 4.25%. At my tax bracket, and due to
the tax
write-off, I'm borrowing it at an effective rate of less than 3%.
Since
waterfront homes are appreciating at least 10-20%/year, that means
my
return on my investment is anywhere from 7-13% per year. It's not
liquid,
but it's zero risk. Name one other investment that gives you that
kind of
return with no risk.

You have to look at it from asslicker's perspective......trailer
homes don't
appreciate, and at a 15% bracket, it just doesn't make that much of a

difference :-)

But once again he fails Econ 101. what a mar00n


Man, I LOVE it when you show the world how dumb you are!! This is
great. Once again, NOTHING of substance, just childish name
calling......typical....Oh, you forgot your other trademark that shows
the world that you are simple minded and childish....LMAO