Dear folks who wish you owned your own home

[TrueSOMDGirl]

you must be a renter

Actually, I was a home owner till the travel increased in my job to where I was hardly ever home. So yes, now I find it much easier to rent. So what? Why do you care?

 

[kom526]

Actually, I was a home owner till the travel increased in my job to where I was hardly ever home. So yes, now I find it much easier to rent. So what? Why do you care?

He's jerking your chain.



While some people extol the virtues of renting, nothing can beat the feeling of owning your own home (IMHO). For every post about "the millions" of people facing foreclosure and being upside down, there are probably twice as many who did things right.

 

[GWguy]

Wasn't me, I jammed a knife in my hand on Friday so it's uncomfortable the hold on.
Must have been GWguy, he looks really old

I resemble that.....

He's jerking your chain.



While some people extol the virtues of renting, nothing can beat the feeling of owning your own home (IMHO). For every post about "the millions" of people facing foreclosure and being upside down, there are probably twice as many who did things right.

As one of those who "did it right", I can say that I am within months of completing my mortgage. After that, it's 100% equity.

 

[kom526]

As one of those who "did it right", I can say that I am within months of completing my mortgage. After that, it's 100% equity.

I'm not within months (20 some odd years and counting) BUT there's plenty of equity.

 

[GWguy]

I'm not within months (20 some odd years and counting) BUT there's plenty of equity.

It's a great feeling to be at this point.

 

[aps45819]

Why do you care?

He's jerking your chain.

and she's dancing with every jerk

 

[TrueSOMDGirl]

He's jerking your chain.



While some people extol the virtues of renting, nothing can beat the feeling of owning your own home (IMHO). For every post about "the millions" of people facing foreclosure and being upside down, there are probably twice as many who did things right.

LOL I know...I just jerked back... and he liked it.

I resemble that.....



As one of those who "did it right", I can say that I am within months of completing my mortgage. After that, it's 100% equity.

congrats!!

and she's dancing with every jerk

is that what you call it?

 

[Chasey_Lane]

As one of those who "did it right", I can say that I am within months of completing my mortgage. After that, it's 100% equity.

Niiiiice!! Congrats!!

 

[Two-er]

I resemble that.....



As one of those who "did it right", I can say that I am within months of completing my mortgage. After that, it's 100% equity.

Yea - but it's dead equity earning in Maryland about 1.25% annual rate of return based on historical data.

 

[PrepH4U]

Yea - but it's dead equity earning in Maryland about 1.25% annual rate of return based on historical data.

I suppose you can say that you do not have to pay a mortgage or pay rent to anyone? :shrug: Wouldn't you like to have that extra money a month instead of paying someone else? :shrug:

 

[Baja28]

Yea - but it's dead equity earning in Maryland about 1.25% annual rate of return based on historical data.

 

[Baja28]

I suppose you can say that you do not have to pay a mortgage or pay rent to anyone? :shrug: Wouldn't you like to have that extra money a month instead of paying someone else? :shrug:

Doncha love how these renters who have nothing always try to find a jab....

May they live long and pay rent even longer!

 

[BuddyLee]

Doncha love how these renters who have nothing always try to find a jab....

May they live long and pay rent even longer!

I'd much rather own than rent, which is why I'll be looking for a house before an apartment if I can help it.

 

[Two-er]

I suppose you can say that you do not have to pay a mortgage or pay rent to anyone? :shrug: Wouldn't you like to have that extra money a month instead of paying someone else? :shrug:

Just saying that a $500,000 house sitting there earning 1.25% annual return is lame compared to $500,000 invested wisely earning 10-12%. Even a modest 10% return on that $500,000 would earn you $50,000 a year. In other words, more than enough to pay for your housing along with housing for a few of your kids.

Like I said, a house that's paid off and just sitting there, is dead equity.

 

[Baja28]

I'd much rather own than rent, which is why I'll be looking for a house before an apartment if I can help it.

You're a fart smella....er...a... I mean you're a smart fella BuddyLee!! And if you keep that house, one day it'll be paid for and all yours. Then you won't have any payments and can use the equity to enjoy yourself.

 

[Baja28]

Just saying that a $500,000 house sitting there earning 1.25% annual return is lame compared to $500,000 invested wisely earning 10-12%. Even a modest 10% return on that $500,000 would earn you $50,000 a year. In other words, more than enough to pay for your housing along with housing for a few of your kids.

Like I said, a house that's paid off and just sitting there, is dead equity.

So where did you get this $500K to just drop in this AWESOME 10% interest bearing account genius?

And if you think $50K a year pays for your and a few of your kids housing, I now know what I'm dealing with. :moron:

 

[Two-er]

So where did you get this $500K to just drop in this AWESOME 10% interest bearing account genius?

And if you think $50K a year pays for your and a few of your kids housing, I now know what I'm dealing with. :moron:

I'll talk slower Sell the $500,000 house, invest the lump sum, and pay 2 mortgages with the interest you earn without ever touching the $500,000 principal

 

[Baja28]

Sell the $500,000 house, invest the lump sum, and pay 2 mortgages with the interest you earn without ever touching the $500,000 principal

Ok Einstein, lets back up here.

1. How did you get a paid off house worth $500K?
2. What kind of mortgages do you think you're going to get with $50K/year? Remember, you said "several" earlier. Even if it were 2, you're living in a blue collar apt. at best.

You're not very good at this.

 

[PrepH4U]

I'll talk slower Sell the $500,000 house, invest the lump sum, and pay 2 mortgages with the interest you earn without ever touching the $500,000 principal

hmmm why should I sell my house (tax deduction) when I already have renters paying for my 2nd house?

 

[Baja28]

I'll talk slower Sell the $500,000 house, invest the lump sum, and pay 2 mortgages with the interest you earn without ever touching the $500,000 principal

While you're talking slow (which I don't doubt for a second you do), try reading post 419.