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wrote in message oups.com... Joe wrote: wrote in message oups.com... Yeah, how DID that happen, when you've stated here that you have an interest only mortgage? Not only did you NOT pay cash, you're not even paying down the balance. LOL! You really do get dumber by the day. Really? You don't think that NOYB has an interest only mortgage? That's not why he called you stupid. He called you stupid because you failed to realize that you can build equity in a house even when you don't pay down the principal...and then turn around and apply that equity as a downpayment on your next house. |
wrote in message ups.com... NOYB wrote: wrote in message oups.com... NOYB wrote: There is one home (out of 31 for sale in my neighborhood) under 7 figures. It's 1500 sq ft., was built in 1960, and is priced at $959k. ************ 31 homes for sale in your "neighborhood"? Either its a big neighborhood, or that full size Bush billboard in your front yard has everybody p-o'd. :-) (kidding) Illustrating my point, exactly. Lets say you paid $500,000 for you pad, and it would now sell for $1.3mm. If you sold your house for that price and needed to move to another just as nice, it would cost you $1.3mm to buy an equivalent home in the same area. Here's the real life example: I paid $825k for the current home on the water. The last house to sell just like mine sold for $1.225m. After realty and closing costs, I'd clear about $360k I sold my old house for $560k last year (not on the water) The last house to sell like my old one just sold for $625k. If I bought the new house for $625k, after closing costs, I'd be in it for under $650. So I would net a quarter of a million dollars if I sold my current home and bought my old one again. That's profit, right? I could always sell my house and move a little bit inland...and make a huge profit in the process. Or I could move to Lee County instead of Collier County. This from a person who has an interest only loan because he's maxed out..... I am maxed out...but a huge chunk of my debt will be retired in 4 years. That'll free up $60,000/year in *additional* net disposable income. |
Bassy,
You need to tell NYOB that you call them mobile home communities. wrote in message oups.com... NOYB wrote: wrote in message ups.com... NOYB wrote: Chuck is the first person that I've heard say that a home in a rapidly appreciating real estate market is *not* a good investment. **************************** I'm seriously surprised. Your house is a house. It's not an investment. Sky high and soaring housing prices are only a good thing if you own other real estate in addition to your primary home. You can have your home, (which you need), or the money tied up in it, but not both. When you cash out an "investment" your options in life should increase substantially. When you cash out your house, you get to live in a yurt. But a really, really nice yurt. Of course, I could retire to Snellville, buy an entire trailer park, and still put a million in my pocket. Really? How many "trailer parks" are there in Snellville, GA? Do you want the answer? |
"Dr. Jonathan Smithers, MD Phd." wrote in message ... Bassy, You need to tell NYOB that you call them mobile home communities. Asslicker needs to 'man enough' to live up to his word regarding posting to this NG wrote in message oups.com... NOYB wrote: wrote in message ups.com... NOYB wrote: Chuck is the first person that I've heard say that a home in a rapidly appreciating real estate market is *not* a good investment. **************************** I'm seriously surprised. Your house is a house. It's not an investment. Sky high and soaring housing prices are only a good thing if you own other real estate in addition to your primary home. You can have your home, (which you need), or the money tied up in it, but not both. When you cash out an "investment" your options in life should increase substantially. When you cash out your house, you get to live in a yurt. But a really, really nice yurt. Of course, I could retire to Snellville, buy an entire trailer park, and still put a million in my pocket. Really? How many "trailer parks" are there in Snellville, GA? Do you want the answer? |
On Wed, 2 Mar 2005 16:02:03 -0500, "Dr. Jonathan Smithers, MD Phd."
wrote: Bassy, You need to tell NYOB that you call them mobile home communities. No, they're "Manufactured Home Developments" in the back-counties of Virginia. John H "All decisions are the result of binary thinking." |
On Wed, 02 Mar 2005 20:22:53 GMT, "NOYB" wrote:
wrote in message oups.com... NOYB wrote: wrote in message oups.com... NOYB wrote: There is one home (out of 31 for sale in my neighborhood) under 7 figures. It's 1500 sq ft., was built in 1960, and is priced at $959k. ************ 31 homes for sale in your "neighborhood"? Either its a big neighborhood, or that full size Bush billboard in your front yard has everybody p-o'd. :-) (kidding) Illustrating my point, exactly. Lets say you paid $500,000 for you pad, and it would now sell for $1.3mm. If you sold your house for that price and needed to move to another just as nice, it would cost you $1.3mm to buy an equivalent home in the same area. Here's the real life example: I paid $825k for the current home on the water. The last house to sell just like mine sold for $1.225m. After realty and closing costs, I'd clear about $360k I sold my old house for $560k last year (not on the water) The last house to sell like my old one just sold for $625k. If I bought the new house for $625k, after closing costs, I'd be in it for under $650. So I would net a quarter of a million dollars if I sold my current home and bought my old one again. That's profit, right? I could always sell my house and move a little bit inland...and make a huge profit in the process. Or I could move to Lee County instead of Collier County. This from a person who has an interest only loan because he's maxed out..... I am maxed out...but a huge chunk of my debt will be retired in 4 years. That'll free up $60,000/year in *additional* net disposable income. With that much free money you could afford to buy a quadruple-wide with a triple-wide on top. Just be sure to put a lightning rod up there. John H "All decisions are the result of binary thinking." |
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wrote in message oups.com... JimH wrote: wrote in message ups.com... JimH wrote: wrote in message oups.com... DELTETED BY CHUCK: First of all, the quality of your argument is diminished with your childess munipulation of the name of the city of Naples. It is Naples, not Nipples. Grow up Chuck. Secondly, you have to look at the end result of the real estate process. Let us compare owning vs. renting. Example (real life) I have $30,000: EXAMPLE 1: If purchasing a house: I buy a 4 bedroom house for $150,000, putting $30,000 down. I owe the bank $120,000 and I put nothing into the house over the years I own it other than the mortgage payment. I then sell that house for $250,000, yielding $75,000 net after commision, payments to the bank and expenses. My initial investment was $30,000. I now have $75,000. I then buy a house for $350,000, putting the entire $75,000 down. I owe the bank $275,000 and I put nothing into the house over the years I own it other than the mortgage payment. I then sell that house for $450,000, yielding $133,000 net after commision, payments to the bank and expenses. My intial investment was $30,000. I now have $133,000 I downsize and look back at that $150,000 starter home I once owned. It is now selling for $300,000. I buy it, put down my $133,000 in down payment and thus owe the bank $167,000. I eventually sell the house and move into a retirement community (paid for by my insurance). The house sells for $325,000. After expenses and commisions I net $155,000. My initial investment was $30,000. I yielded a net profit of $125,000 on a $30,000 investment, *and* I had ZERO living expenses over all those years. EXAMPLE 2: If renting a house/apartment: A $30,000 investment over 30 years at at 5% rate of return would yield a return of $130,000. With an average cost of rental housing over 30 years for a 4 bedroom apartment @ $000/month (a very low average) of $180,000, I yield a a net loss of -$50,000. Compare to that the ownership scenario and realize almost a $1000,000 return. RESULTS: A net profit of $100,000 to own. A net loss of $50,000 to rent. The difference....$150,000 over 30 years on a $30,000 ownership investmet. My scenarios were very conservative. Real estate is not an investment? Bull****. You know absolutely nothing about real estate Chuck. *************** Funny, you would have thought I might have learned at least something after all these years. I've bought and sold a total dozens of investment properties since the early 70's, as well as several non investment primary residences. My primary current income is from rents and royalties. Real estate can be an *excellent* investment, but your personal house is not an investment property in the most accurate sense of the word. Even if you could sell your left leg, that wouldn't make in an "investment". You need it. Just like you need your house. If the food in your kitchen cupboards doubled in price, you wouldn't be any richer unless you could get by without eating. As soon as you sold your "appreciated" food you would need to spend an equal amount to replace it. Summing up: Real estate = investment. Primary residence= housing expense. This is ever so typical. a. You delete the majority of my reply. b. You make up things and present them as facts, then surround your entire argument around those made up *facts. c. You delete sections of the post you respond to then twist the facts as they were originally presented. Dispute the facts all you want Chuck. The facts show that you are wrong. BTW: Get over it, stop whining and move on. At least he's not a proven liar like you, Jim. It's a damned shame that you and your two circle jerk buddies have resorted to the lowest of the low, in that you choose to knowingly post lies about other people, in order to bolster your pathetic egos. Glad to see you survived your week in detox ok. Yet another lie from JimH. The most prolific liar on usenet. Please show what you know about me EVER being "in detox". What a good for nothing ****ing liar you are. How is your marijuana crop this year? What "marijuana crop", Jim? Please show any evidence you have that I have one. Another ****ing lie, from the ****ing liar. What a nasty little piglet you are. By the way, my wife's doing fine, and she likes to go fishing with me on my boat. The one you planted after your order from Heaven's Stairway arrived...remember? If not, try this to refresh your memory: http://tinyurl.com/6kllf And that Heaven's Stairway site is located he http://www.hempqc.com/ So how good of crop did you have last year? |
"JimH" wrote in message ... wrote in message oups.com... JimH wrote: wrote in message ups.com... JimH wrote: wrote in message oups.com... DELTETED BY CHUCK: First of all, the quality of your argument is diminished with your childess munipulation of the name of the city of Naples. It is Naples, not Nipples. Grow up Chuck. Secondly, you have to look at the end result of the real estate process. Let us compare owning vs. renting. Example (real life) I have $30,000: EXAMPLE 1: If purchasing a house: I buy a 4 bedroom house for $150,000, putting $30,000 down. I owe the bank $120,000 and I put nothing into the house over the years I own it other than the mortgage payment. I then sell that house for $250,000, yielding $75,000 net after commision, payments to the bank and expenses. My initial investment was $30,000. I now have $75,000. I then buy a house for $350,000, putting the entire $75,000 down. I owe the bank $275,000 and I put nothing into the house over the years I own it other than the mortgage payment. I then sell that house for $450,000, yielding $133,000 net after commision, payments to the bank and expenses. My intial investment was $30,000. I now have $133,000 I downsize and look back at that $150,000 starter home I once owned. It is now selling for $300,000. I buy it, put down my $133,000 in down payment and thus owe the bank $167,000. I eventually sell the house and move into a retirement community (paid for by my insurance). The house sells for $325,000. After expenses and commisions I net $155,000. My initial investment was $30,000. I yielded a net profit of $125,000 on a $30,000 investment, *and* I had ZERO living expenses over all those years. EXAMPLE 2: If renting a house/apartment: A $30,000 investment over 30 years at at 5% rate of return would yield a return of $130,000. With an average cost of rental housing over 30 years for a 4 bedroom apartment @ $000/month (a very low average) of $180,000, I yield a a net loss of -$50,000. Compare to that the ownership scenario and realize almost a $1000,000 return. RESULTS: A net profit of $100,000 to own. A net loss of $50,000 to rent. The difference....$150,000 over 30 years on a $30,000 ownership investmet. My scenarios were very conservative. Real estate is not an investment? Bull****. You know absolutely nothing about real estate Chuck. *************** Funny, you would have thought I might have learned at least something after all these years. I've bought and sold a total dozens of investment properties since the early 70's, as well as several non investment primary residences. My primary current income is from rents and royalties. Real estate can be an *excellent* investment, but your personal house is not an investment property in the most accurate sense of the word. Even if you could sell your left leg, that wouldn't make in an "investment". You need it. Just like you need your house. If the food in your kitchen cupboards doubled in price, you wouldn't be any richer unless you could get by without eating. As soon as you sold your "appreciated" food you would need to spend an equal amount to replace it. Summing up: Real estate = investment. Primary residence= housing expense. This is ever so typical. a. You delete the majority of my reply. b. You make up things and present them as facts, then surround your entire argument around those made up *facts. c. You delete sections of the post you respond to then twist the facts as they were originally presented. Dispute the facts all you want Chuck. The facts show that you are wrong. BTW: Get over it, stop whining and move on. At least he's not a proven liar like you, Jim. It's a damned shame that you and your two circle jerk buddies have resorted to the lowest of the low, in that you choose to knowingly post lies about other people, in order to bolster your pathetic egos. Glad to see you survived your week in detox ok. Yet another lie from JimH. The most prolific liar on usenet. Please show what you know about me EVER being "in detox". What a good for nothing ****ing liar you are. How is your marijuana crop this year? What "marijuana crop", Jim? Please show any evidence you have that I have one. Another ****ing lie, from the ****ing liar. What a nasty little piglet you are. By the way, my wife's doing fine, and she likes to go fishing with me on my boat. The one you planted after your order from Heaven's Stairway arrived...remember? If not, try this to refresh your memory: http://tinyurl.com/6kllf And that Heaven's Stairway site is located he http://www.hempqc.com/ So how good of crop did you have last year? Did asslicker stop beating his wife yet? |
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