Bruddah IZ
DA
It's okay if you're confused.
Essential Economics for Politicians
- Thread starter Bruddah IZ
- Start date
-
- Tags
- finance too
Bruddah IZ
DA
I can't wait.
You ALWAYS pay one way or another " messy " financial human....
Not to mention the fact that YOUR new Governor ( You Voted For ! )
and his Communist/Democrats in the Northern Mexican Cartel located
in Sacramento are going to re appraise ALL of the property you own
after Jan 8th 2019.......And you'll pay even more !
Then they are going to tax ALL Labor ( YES ALL LABOR ! ) at a rate
that will suffice to temporarily shore up the unfunded State Pension
plans in California....Yes, Good ol Jerry Brown handed off one of the most
toxic items ever to the incoming Idiot from " Poop " Town by the sea....
Barney Frank almost got away with it...!
Bruddah IZ
DA
False
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!
Bruddah IZ
DA
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.
Bruddah IZ
DA
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?
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.
Again, as an individual I can buy houses, I can’t be a bank. So the only choice here is to buy the real estate...and make a lot of money!
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.
Bruddah IZ
DA
You can be a lender.
too rich for my blood. i'd rather buy houses.
Bruddah IZ
DA
So what was the purchase price?
Bruddah IZ
DA
That makes no sense and doesn't sound like it is too rich for you. Unless the 960k cash purchase is fake too.
Bruddah IZ
DA
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.
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.
Bruddah IZ
DA
Even if the price is right?
Hey " Messy " Financial experience.....You should read the below post..........Again.
Hey " Messy " Financial experience.....You should read the above post..........Again.
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?
You really are ignorant. It was just not one period, just one I used as an example.
Do you recall the 70s and early 80s? Do you recall 18% mortages? How much of a profit would you be making if you sold your home three years after you purchased it?
Kinda funny how you are presenting yourself. All the crying your party does about the 2% and you are probably in the 1%. You do realize that most cannot do what you and that many people have lost their asses in real estate.