Don't Forget to Pay Your Rent

Originally posted by nkotb:
Let this be a lesson, econo. You are an idiot for paying rent. Now thank sonick for the sound advice.

Originally posted by le sonick:
rent sucks.

its just throwing your money away.

and no one can argue with that.

HEY HEY HEY!!!

i never said that. i throw my money away on other shit, just not rent! my comment was directed at rent…not econo..dont put words in my mouth.

:mad:

Not that my specs mirror anybody else in the DC area, but I put my info into that calculator and it said that buying is better then renting after ONE year, and it only gets better over time (unless the market plummets in the future).

Originally posted by Hoya Paranoia:

Originally posted by le sonick:
rent sucks.

its just throwing your money away.

and no one can argue with that.

except for economists and people who actually study this kind of stuff

http://www.nytimes.com/2007/04/11/realestate/11leonhardt.html?ex=1178164800&en=9facf6b120f77fca&ei=5070
http://www.nytimes.com/2007/04/10/business/2007_BUYRENT_GRAPHIC.html?ex=1178164800&en=030cb4c6466792a7&ei=5070

Originally posted by Charlie Nakatestes,Japanese Golfer:
Not that my specs mirror anybody else in the DC area, but I put my info into that calculator and it said that buying is better then renting after ONE year, and it only gets better over time (unless the market plummets in the future).

Originally posted by Hoya Paranoia:

Originally posted by le sonick:
rent sucks.

its just throwing your money away.

and no one can argue with that.

except for economists and people who actually study this kind of stuff

http://www.nytimes.com/2007/04/11/realestate/11leonhardt.html?ex=1178164800&en=9facf6b120f77fca&ei=5070
http://www.nytimes.com/2007/04/10/business/2007_BUYRENT_GRAPHIC.html?ex=1178164800&en=030cb4c6466792a7&ei=5070

and this data that was used to make this article…like most "statistical" data is PURELY how you read it. anyone who's even taken a statistics class knows theres 19 ways to spin any set of data.

if my mortgage is $900 a month for a rowhome…and in my neighborhood, they are being rented for $800. what am i supposed to do with that extra $100 a month that would make it better than owning???? and what happens in 2 years when my rent is $900 anyway?

perhaps if you're talking about people buying $700K homes and still have liquid assets and stuff, maybe then you can make an argument how real estate isnt the "best investment" but for someone who pay under 100K for his house in 2005 and houses are selling for over 200K in 2007..i just dont believe renting is better, and i dont believe i am in some wicked lucky situation uncommon to other people in the US!!!!

You're bull930 aren't you.

Originally posted by le sonick:
and i dont believe i am in some wicked lucky situation uncommon to other people in the US!!!!

and to think i have rent due in nyc and paying a mortgage down in virginia. ah the insanity.

on that note - anyone need a place to live. like all things in the area, its not cheap but its a great place :)

2BR/2BA condo + huge loft (big enough for a pool table not sure how anyone can possibly get it up there). if interested - email me for details.

Originally posted by econo:
You're bull930 aren't you.

Originally posted by le sonick:
and i dont believe i am in some wicked lucky situation uncommon to other people in the US!!!!

wait, what does that mean?

Originally posted by xneverwherex:
and to think i have rent due in nyc and paying a mortgage down in virginia. ah the insanity.

Finally. Somebody who has it right. Own income bearing property. Use the income to pay your mortgage and less or equal rent elsewhere where you possibly can't afford to buy. It's a perfect tax scenario.

Originally posted by vansmack:

Originally posted by xneverwherex:
and to think i have rent due in nyc and paying a mortgage down in virginia. ah the insanity.

Finally. Somebody who has it right. Own income bearing property. Use the income to pay your mortgage and less or equal rent elsewhere where you possibly can't afford to buy. It's a perfect tax scenario.

something i plan on doing in a few years! :)

Originally posted by le sonick:
something i plan on doing in a few years! :)

Done right, you may never have to work again…

Originally posted by vansmack:

Originally posted by le sonick:
something i plan on doing in a few years! :)

Done right, you may never have to work again…

i am probably doing it on a smaller level than that. but if my plan works…when i am ready to retire in my 50's, i'll have 2 or 3 houses being rented to supplement my income nicely.

Slumlord!

Originally posted by le sonick:
i am probably doing it on a smaller level than that. but if my plan works…when i am ready to retire in my 50's, i'll have 2 or 3 houses being rented to supplement my income nicely.

Originally posted by econo:
You're bull930 aren't you.

Originally posted by le sonick:
and i dont believe i am in some wicked lucky situation uncommon to other people in the US!!!!

Econo is now the front-runner for post of the week!!!!!!! ;)

I don't know how Rhett gets four bedrooms in a home that is only 1,226 square feet.

Originally posted by TheDirector217:

Originally posted by econo:
You're bull930 aren't you.

Originally posted by le sonick:
and i dont believe i am in some wicked lucky situation uncommon to other people in the US!!!!

Econo is now the front-runner for post of the week!!!!!!! ;)

but i dont get it!!! does bull930 say wicked?

No, he uses multiple exclamation marks.

Originally posted by le sonick:
but i dont get it!!! does bull930 say wicked?

I don't think they count the lower level of a ranch home as part of the square footage. But they do count offices as bedrooms.

Originally posted by ggwâ?¢:
I don't know how Rhett gets four bedrooms in a home that is only 1,226 square feet.

Originally posted by ggwâ?¢:
I don't know how Rhett gets four bedrooms in a home that is only 1,226 square feet.

It's a trailer!!! Double wide of course.

Originally posted by vansmack:

Originally posted by xneverwherex:
and to think i have rent due in nyc and paying a mortgage down in virginia. ah the insanity.

Finally. Somebody who has it right. Own income bearing property. Use the income to pay your mortgage and less or equal rent elsewhere where you possibly can't afford to buy. It's a perfect tax scenario.

yes there are some great benefits of doing this. all sorts of tax breaks and what not. of course, without all this i probably couldnt afford to live in nyc. im planning on buying more property and doing just the same :)

Originally posted by Charlie Nakatestes,Japanese Golfer:
But they do count offices as bedrooms.

Only if it has a window.

Priceless.

Originally posted by Roadbike Mankie:

Originally posted by Charlie Nakatestes,Japanese Golfer:
I forgot, remind me what rent is again?

About half of what a mortgage payment is.