Bruddah IZ
DA
It's okay if you're confused.I’m sorry you are unable to pay off your mortgage. Save up, you can do it
It's okay if you're confused.I’m sorry you are unable to pay off your mortgage. Save up, you can do it
I can't wait.Duh, the stock market is worse than loaning at 5% too, if you invested in ‘07 and sold in ‘09. You can join the class I’m going to give Iz.
Or sell. Unless you have financial problems, you can almost always sell real estate at a nice profit
FalseI assume nothing. The FACT is that for as long as you or I have been alive, owning real estate in so cal has been much better than secured loans at 5%.
That's right, i could be wrong. You have to pick the right areas to buy in. I shouldn't judge based on my own experiences.False
then again, how many individuals have the opportunity to loan secured money at 5%? easier to buy real estate with the bank's money!That's right, i could be wrong. You have to pick the right areas to buy in. I shouldn't judge based on my own experiences.
No, I like judging by your own experiences. But all you've provided is a fake loan amount, fake capital gains, and fake down payment. No purchase price or interest rate.That's right, i could be wrong. You have to pick the right areas to buy in. I shouldn't judge based on my own experiences.
then again, how many individuals have the opportunity to loan secured money at 5%? easier to buy real estate with the bank's money!
Of course while the 100% of my house is appreciating that I only paid 20% down on, I am capturing all that equity and the rest of my money is working for me elsewhere and growing.Agree. The bank loves that mind set. That's how they make money. They know that the time value of money is where they easily bypass your capital gains.
I amortized your fake loan of 800k at 5% for 30 years. If I am the bank I am excited. 70 to 75% of your monthly mortgage payment goes to interest for the first 6 years of your loan. 59 to 69% of your monthly mortgage payment goes to interest for the next 6 years. You don't get to 5% until roughly the 28th year of a 30 year loan. The bank puts yours and others monthly payments back to work as soon as they get it every month. The bank has 1000's of borrowers in the hopper that are willing to borrow our interest payments from the bank the day after you make your mortgage payment. And the process begins again!! Can your asset do that monthly? Questions?
I have made several real estate transactions, but using the house I’ve been in for 20 years, it was 885K in 1997, now valued at about $4m, interest rate is 3.5% and I have refi’d a couple of times. None of that is fake. I sold a house recently that I bought with 960K cash in 2012 and sold for 1.7m in 2016. Tell me how the banks did better than I did.No, I like judging by your own experiences. But all you've provided is a fake loan amount, fake capital gains, and fake down payment. No purchase price or interest rate.
You can be a lender.Again, as an individual I can buy houses, I can’t be a bank.
too rich for my blood. i'd rather buy houses.You can be a lender.
So what was the purchase price?I have made several real estate transactions, but using the house I’ve been in for 20 years, it was 885K in 1997, now valued at about $4m, interest rate is 3.5% and I have refi’d a couple of times. None of that is fake.
That makes no sense and doesn't sound like it is too rich for you. Unless the 960k cash purchase is fake too.too rich for my blood. i'd rather buy houses.
The equity actually belongs to the bank but you can borrow it from them if you like. Of course that's probably why you were able to re-fi for cash out or lower interest rate. In the mean time the bank is getting monthly income from you that they can use immediately without your permission. Your equity can't do that.Of course while the 100% of my house is appreciating that I only paid 20% down on, I am capturing all that equity
i am not a guy who is going to lend money to others. not my thing. give me real property for my money; not a promissory note and DOT.That makes no sense and doesn't sound like it is too rich for you. Unless the 960k cash purchase is fake too.
Even if the price is right?i am not a guy who is going to lend money to others. not my thing. give me real property for my money; not a promissory note and DOT.
That's right, i could be wrong. You have to pick the right areas to buy in. I shouldn't judge based on my own experiences.
Agree. The bank loves that mind set. That's how they make money. They know that the time value of money is where they easily bypass your capital gains.
I amortized your fake loan of 800k at 5% for 30 years. If I am the bank I am excited. 70 to 75% of your monthly mortgage payment goes to interest for the first 6 years of your loan. 59 to 69% of your monthly mortgage payment goes to interest for the next 6 years. You don't get to 5% until roughly the 28th year of a 30 year loan. The bank puts yours and others monthly payments back to work as soon as they get it every month. The bank has 1000's of borrowers in the hopper that are willing to borrow our interest payments from the bank the day after you make your mortgage payment. And the process begins again!! Can your asset do that monthly? Questions?
I don’t know any individuals who do residential real estate lending. Weird concept. Again, you should try dealing with real life. Pretend you’re someone with money to invest (I know it’s a stretch)...and nobody is asking you to be their mortgage co....because they’re not. Now what would you do?Even if the price is right?
You really are ignorant. It was just not one period, just one I used as an example.Why are you so obsessed with the one period in the last 30 years that real estate dipped? Did you get hurt by it?