Essential Economics for Politicians

messy said:
How much do you pay her every month?
Is it a big building?
I buy my own asset while I live in it.
I also buy art assets while enjoying them on my walls. They don’t produce income either but boy do they appreciate.
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I pay her a "sufficient amount" with the income I earn from leasing out Fries uncle's Caterpillars. An income earning asset.
 
messy said:
I understand that it’s hard for a person with your, shall we say, limitations, to believe that every word I’ve said is true. Money is very complicated for you; you like to talk about it a lot, but you really know very little about how to earn it and make it grow. It’s an ironic juxtaposition. I never pretended, like you do. I shut up until I learned about things like real estate and bonds and stocks. You should try acknowledging how little you know...I’ve noticed that Fries is very patient with you in trying to explain how things work, but your insecurity prevents you from getting it. Your loss. Stay poor, my friend!
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Lol! Just play the game. You might learn something about how the bank strokes your ego with promises of equity and the magic of Net Worth while you pay them double digit interest on your monthly payments. Kek!
 
Bruddah IZ said:
Lol! Just play the game. You might learn something about how the bank strokes your ego with promises of equity and the magic of Net Worth while you pay them double digit interest on your monthly payments. Kek!
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The bank tells me nothing about my equity and my net worth. Why are you so scared? You see, yet again you’re complicating it. The bank loans me money on a repayment schedule so I can buy my house. nothing more to it than that. Instead of going to the bank for a loan, you pay money to your landlord so she can buy the house. I also use credit lines to buy capital assets for my business and income-producing assets. And yes, the big, bad bank charged me interest! They don’t strone my ego or make promises. What’s the deal? A bank throw you out of your house once, because you’re so bad with money that you got foreclosed upon? That’s my guess.
 
messy said:
Does she own a big building or are you a substantial contributor to the costs of her maintaining her asset value?
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Yup and the adjoining cannibis fields. Hard Money Loan, 12% simple interest, 3 years, balloon payment at the end. I hold the DOT's and the promissary note. 60% LTV.
 
Bruddah IZ said:
Yup and the adjoining cannibis fields. Hard Money Loan, 12% simple interest, 3 years, balloon payment at the end. I hold the DOT's and the promissary note. 60% LTV.
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You pay her rent so she can own the house? And proof that you’re on another planet is your reference to 12% interest. Fancy talk though...”hard money” “DOT’s” “LTV.” Legit people don’t talk like that.
 
messy said:
The bank tells me nothing about my equity and my net worth. You see, yet again you’re complicating it. The bank loans me money on a repayment schedule so I can buy my house. nothing more to it than that. Instead of going to the bank for a loan, you pay money to your landlord so she can buy the house.
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Yes that was my point. The bank doesn't tell you anything about your equity and net worth? Really? They just full doc'd your loan. Does an appraisal and loan application ring a bell. And you wonder why I question what you say about your financial prowess.
 
messy said:
You pay her rent so she can own the house? And proof that you’re on another planet is your reference to 12% interest. Fancy talk though...”hard money” “DOT’s” “LTV.” Legit people don’t talk like that.
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They actually do. And don't flatter yourself, it's not that fancy. It's a loan with different terms for repayment.
 
Bruddah IZ said:
Yes that was my point. The bank doesn't tell you anything about your equity and net worth? Really? They just full doc'd your loan. Does an appraisal and loan application ring a bell. And you wonder why I question what you say about your financial prowess.
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Bank tells me nothing about my equity and net worth, fool. They tell themselves about the house value based upon what their appraiser tells them. And they ask me my net worth when I fill out the application...they don’t tell it to me nor do they promise me anything. My mortgage co is my broker (Morgan Stanley, remember) so they’re already well aware of my net worth, anyway. Now how much do you pay in rent every month?
 
Bruddah IZ said:
No. But I did have to foreclose someone before. What a pain.
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Stroke of a pen from the cubicle and you served your banker bosses by taking somebody’s home? No wonder you’re such a happy guy.
And no wonder you can’t afford a house. Jeez, what a shit job you have.
 
messy said:
Stroke of a pen from the cubicle and you served your banker bosses by taking somebody’s home? No wonder you’re such a happy guy.
And no wonder you can’t afford a house. Jeez, what a shit job you have.
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But it was their asset. How could we take it? Fries U strikes again!
 
Bruddah IZ said:
But it was their asset. How could we take it? Fries U strikes again!
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You had a contract that allowed you to take it if they didn’t pay you for it. Pretty much the same with any asset that anyone buys. Again, very basic stuff. Don’t overcomplicate it, son.
 
Bruddah IZ said:
You mean like a liability. Fries U baby!!
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There are a few ways to be an asset. On credit, via a loan, installments, etc. It doesn’t matter what kind of asset. Real property is just one type of asset.
Unless you buy it “outright,” you can in many cases be at risk for losing the asset. This particularly applies to when the lender has the asset as “collateral” (look it up) for the loan. In such a case, the lender need not sue you for money, they can simply repossess the asset. Liability is the loan, not the asset. They are not only two different things, they are actually opposite. Why are you having such a difficult time with these concepts? They’re not complicated.
 
messy said:
There are a few ways to be an asset. On credit, via a loan, installments, etc. It doesn’t matter what kind of asset. Real property is just one type of asset.
Unless you buy it “outright,” you can in many cases be at risk for losing the asset. This particularly applies to when the lender has the asset as “collateral” (look it up) for the loan. In such a case, the lender need not sue you for money, they can simply repossess the asset. Liability is the loan, not the asset. They are not only two different things, they are actually opposite. Why are you having such a difficult time with these concepts? They’re not complicated.
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LMAO!!! You and Fries should get married. Nothing more complicated then your jumbled thesis above.
 
messy said:
Stroke of a pen from the cubicle and you served your banker bosses by taking somebody’s home? No wonder you’re such a happy guy.
And no wonder you can’t afford a house. Jeez, what a shit job you have.
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Getting a bit emotional aren't we?
Personal also, especially for someone who can't even be 1 identify on a soccer forum.
You lose.
 
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