Negotiations.
Essential Economics for Politicians
- Thread starter Bruddah IZ
- Start date
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- finance too
Negotiations.
Bruddah IZ
DA
It’s an asset for sure. For the bank. You have at least 12 opportunities a year to reconcile that fact as money flows from your account to the bank so that they can lend it out again. Does your “asset” do that?
Bruddah IZ
DA
Lol! Yes. The bank says do this or you’re not getting the loan.
We were given options.
Bruddah IZ
DA
Your monthly payments agree with Izzy.
Bruddah IZ
DA
Ye$ you were. Which one did you take for them? I’m sure they appreciated it.
Are you a bank, or a real estate owner? Which one are you? Second time I have asked.
Bruddah IZ
DA
Third time I've answered both. Aren't you both? Did you negotiate with your bank like espola did?
Bruddah IZ
DA
Actually, I don’t own the home yet. It’s still a liability.
Bruddah IZ
DA
Like yours
As I suspected. You’re neither. Did you ever see The King of Comedy? Are you Rupert Pupkin the economist?
Bruddah IZ
DA
Did he deny that his home was a liability until he paid off his loan from the bank? Seen it hundreds of times. But there is no way that a savy RE guy doesn't know about the function of PMI or tax deductible interest.
Still waiting for you to answer the questions. Answering questions with questions is not an answer.
Just in case you didn't know, these "little eras" happen about every 12 years or so. Also, you were the one who posted like an idiot that it's a "fact" that you always make money in real estate in So Cal. Don't blame me for your ignorance.
it’s a fact that it’s almost impossible not to make money owning so cal real estate. Sorry if you got caught playing over your head. Sounds like you must have. I have bought and sold several times since the late 80s. Read up, Torros. Learn about location. Don’t buy things you can’t afford to hold. Learn from your mistakes. You’ll do great! Maybe you and Iz should team up and buy a cool little cottage in San Pedro. It’s gonna happen next. Don’t buy a condo. I may go in with you!
Still no answer? Predictable.
I believe your questions were, effectively, if I bought high and sold low did I lose money? Yes I would have! I didn’t think you were serious in asking such a stupid question. Like I said, go find a nice property and buy it. But only if you can afford to hold it. You will make money. Choose wisely. I can help you.
Bruddah IZ
DA
Bring your 25% down payment with you.
Bruddah IZ
DA
At least you’re talking about buying an asset now.
Or 20%, but you can split it.
Bruddah IZ
DA
Rental?
Down payment. 20%. Normal and customary for a residential home mortgage. But only for the 30 years that I’ve been buying houses in LA County. Maybe you know different.