Property owners

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ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Apr 16, 2012 11:47 AM
justincredible;1145125 wrote:I do not have a garage. I have a shed.
Then where have I been sleeping?
Apr 16, 2012 11:47am
password's avatar

password

Senior Member

2,360 posts
Apr 16, 2012 12:17 PM
thavoice;1145095 wrote:Own my own home.

I would be willing to sell it, dirt cheap, but the wife is included in the deal.
What kind of condition is she in?
Apr 16, 2012 12:17pm
S

Steel Valley Football

Senior Member

4,548 posts
Apr 16, 2012 12:25 PM
Belly35;1145072 wrote:That would be bank appeal :D lake front property don't really have curbs

A house does not have to have a curb to have curb appeal. Sounds like you're in a conversation with the right guy, though.
Apr 16, 2012 12:25pm
FatHobbit's avatar

FatHobbit

Senior Member

8,651 posts
Apr 16, 2012 1:59 PM
Steel Valley Football;1145173 wrote:A house does not have to have a curb to have curb appeal. Sounds like you're in a conversation with the right guy, though.
What if he doesn't care about curb appeal?
Apr 16, 2012 1:59pm
S

Steel Valley Football

Senior Member

4,548 posts
Apr 16, 2012 3:17 PM
FatHobbit;1145261 wrote:What if he doesn't care about curb appeal?

Then he's definitely blowing Con_Alma.
Apr 16, 2012 3:17pm
F

fan_from_texas

Senior Member

2,693 posts
Apr 16, 2012 5:18 PM
We own a home.
Apr 16, 2012 5:18pm
dwccrew's avatar

dwccrew

Not Banned

7,817 posts
Apr 16, 2012 6:44 PM
I own the home I live in and I also own 22 rental units (9 houses and a 13 unit apartment building). I also sold one house that I carry the mortgage on, so I don't own the property but I do own the mortgage which my buyer pays on every month at 10% interest.
Apr 16, 2012 6:44pm
GoChiefs's avatar

GoChiefs

Resident Maniac

16,754 posts
Apr 16, 2012 6:48 PM
Own our home. Looking into buying the rental property beside us and tear that sum bitch down once the mortgage is paid off.
Apr 16, 2012 6:48pm
hoops23's avatar

hoops23

Senior Member

15,696 posts
Apr 16, 2012 6:54 PM
I own 22 properties all of which I make money on. If you have a mortgage you're a fucking idiot.
Apr 16, 2012 6:54pm
j_crazy's avatar

j_crazy

7 gram rocks. how i roll.

8,372 posts
Apr 16, 2012 6:56 PM
I own a house in Katy TX. 16 acres in Washington county Ohio. Also have a 160 acre hunting lease in Homer LA.
Apr 16, 2012 6:56pm
dwccrew's avatar

dwccrew

Not Banned

7,817 posts
Apr 16, 2012 7:14 PM
hoops23;1145446 wrote:I own 22 properties all of which I make money on. If you have a mortgage you're a ****ing idiot.
Actually, if you are smart enough to do so, you can leverage your money and make even more money by borrowing. Interest rates are at historic lows. As long as you don't overleverage yourself, you can make loads of money. I only have one mortgage, but it allowed me to buy 3 more houses outright and one property's rent pays the note each month. Taking that mortgage allowed me to gain 3 more properties in which I have positive cash flow on.

So using arbitrary numbers, if I receive $500 a month in rent on the house I took a mortgage on, and the mortgage payment is $400; using the equity I took out of the home I bought 3 more houses with cash and make $500 a piece on them ($1500 total), I just increased my gross monthly income by $1500 a month.
Apr 16, 2012 7:14pm
dwccrew's avatar

dwccrew

Not Banned

7,817 posts
Apr 16, 2012 7:25 PM
I must add that I originally payed cash for the house and a VERY reduced price (foreclosure), fixed it up and took out 70% of it's appraised equity, hence I have a very low mortgage payment in which my renter basically covers and I still have money leftover out of their rent.
Apr 16, 2012 7:25pm
hoops23's avatar

hoops23

Senior Member

15,696 posts
Apr 16, 2012 7:27 PM
dwccrew;1145454 wrote:Actually, if you are smart enough to do so, you can leverage your money and make even more money by borrowing. Interest rates are at historic lows. As long as you don't overleverage yourself, you can make loads of money. I only have one mortgage, but it allowed me to buy 3 more houses outright and one property's rent pays the note each month. Taking that mortgage allowed me to gain 3 more properties in which I have positive cash flow on.

So using arbitrary numbers, if I receive $500 a month in rent on the house I took a mortgage on, and the mortgage payment is $400; using the equity I took out of the home I bought 3 more houses with cash and make $500 a piece on them ($1500 total), I just increased my gross monthly income by $1500 a month.
This is complete and utter bullshit. Your post is now rendered useless by me.

For the record, I do not own 22 properties. My entire post was in jest.
Apr 16, 2012 7:27pm
Cleveland Buck's avatar

Cleveland Buck

Troll Hunter

5,126 posts
Apr 16, 2012 7:28 PM
If you have to pay property taxes then you don't own your house, you rent it from the government.
Apr 16, 2012 7:28pm
J

jmog

Senior Member

6,567 posts
Apr 16, 2012 7:45 PM
Technically the bank owns my house. If I pay it off on schedule they will own it for another 26 years. My prediction at the rate I am going now, I will pay it off in about 13 years.
Apr 16, 2012 7:45pm
Heretic's avatar

Heretic

Son of the Sun

18,820 posts
Apr 16, 2012 7:57 PM
justincredible;1145125 wrote:I do not have a garage. I have a shed.
A molesting shed to store kidnap victims?
Apr 16, 2012 7:57pm
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Apr 16, 2012 7:59 PM
Heretic;1145492 wrote:A molesting shed to store kidnap victims?

If you're going to get technical on me, yes.
Apr 16, 2012 7:59pm
Glory Days's avatar

Glory Days

Senior Member

7,809 posts
Apr 16, 2012 8:01 PM
hoops23;1145446 wrote:I own 22 properties all of which I make money on. If you have a mortgage you're a fucking idiot.
sleeper'd
Apr 16, 2012 8:01pm
S

sjmvsfscs08

Senior Member

2,963 posts
Apr 16, 2012 8:18 PM
Cleveland Buck;1145470 wrote:If you have to pay property taxes then you don't own your house, you rent it from the government.
lol wut?
Apr 16, 2012 8:18pm
dwccrew's avatar

dwccrew

Not Banned

7,817 posts
Apr 16, 2012 8:19 PM
hoops23;1145468 wrote:This is complete and utter bull****. Your post is now rendered useless by me.

For the record, I do not own 22 properties. My entire post was in jest.
I am assuming you just don't understand business or are trolling or both.
Apr 16, 2012 8:19pm
S

sjmvsfscs08

Senior Member

2,963 posts
Apr 16, 2012 8:20 PM
I own nothing. My family owns six or so properties. Renting one, a triplex in Fremont, OH.
Apr 16, 2012 8:20pm
Cleveland Buck's avatar

Cleveland Buck

Troll Hunter

5,126 posts
Apr 16, 2012 8:24 PM
sjmvsfscs08;1145502 wrote:lol wut?
What happens if you don't pay your property taxes? If you have to pay someone to keep your home, who owns it?
Apr 16, 2012 8:24pm
Speedofsand's avatar

Speedofsand

Troublemaker

5,529 posts
Apr 16, 2012 8:37 PM
my swamp shack was paid off just 2 months ago.
Apr 16, 2012 8:37pm
DeadliestWarrior34's avatar

DeadliestWarrior34

gooby pls

3,101 posts
Apr 16, 2012 9:05 PM
ernest_t_bass;1145149 wrote:Then where have I been sleeping?

His rape dungeon.
Apr 16, 2012 9:05pm
hoops23's avatar

hoops23

Senior Member

15,696 posts
Apr 16, 2012 9:05 PM
dwccrew;1145504 wrote:I am assuming you just don't understand business or are trolling or both.
I am assuming you didn't read where I said my post was in jest or you don't understand the meaning of the word or both.
Apr 16, 2012 9:05pm