Make $400k, mortgage is only debt, worth paying $55k for kids' private school
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Date: March 23rd, 2017 2:08 PM Author: Excitant kitty
"Same home in a better school district costs $500k-$1m more in la so it's really a wash when compared to private school tuition."
Not a wash.
$55,000/year in tuition just gone.
$55,000/year in mortgage buys around $1.1 million in extra house, and that house builds equity and provides tax deductions.
(http://www.autoadmit.com/thread.php?thread_id=3561932&forum_id=2#32898460) |
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Date: March 23rd, 2017 2:23 PM Author: Excitant kitty
"I don't think you understand"
"simply because"
Yes, just uncharitably assume that I'm a retard who, despite all indications to the contrary, doesn't understand simple consumer finance issues.
Or, maybe, you could do something more useful, like, I don't know, maybe make a reasonable assumption about his current equity and qualification prospects, and work from there.
(http://www.autoadmit.com/thread.php?thread_id=3561932&forum_id=2#32898606) |
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Date: March 23rd, 2017 2:33 PM Author: Excitant kitty
And yet you still haven't posted a single thing of value.
Not one number.
Explain.
Are you trying to be a shittier version of Rowan?
"Well, on the one hand... It depends..."
(http://www.autoadmit.com/thread.php?thread_id=3561932&forum_id=2#32898682) |
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Date: March 23rd, 2017 3:10 PM Author: Excitant kitty
"I don't make blanket statements..."
But: "it's really a wash"
With no debt, steady employment, and a sufficient down payment, he could probably get somewhere around a $2.5 million mortgage. $2 million shouldn't be a problem at all, and he might not even need that much.
So it's pretty easy to think of realistic scenarios where it's not a wash.
And your experience with the annoying task of sending in standard mortgage documents to refi your condo doesn't change that.
(http://www.autoadmit.com/thread.php?thread_id=3561932&forum_id=2#32898965) |
Date: March 23rd, 2017 1:42 PM Author: Excitant kitty
Spend $27,500/year on a house in a better district. That gets you about $450,000 more in house mortgage.
Put $27,500/year in a trust, college fund, whatever.
(http://www.autoadmit.com/thread.php?thread_id=3561932&forum_id=2#32898261) |
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Date: March 23rd, 2017 6:03 PM Author: fear-inspiring provocative principal's office elastic band
How is that possbile?
No an LAmo, but I'm pretty familiar with that area. You can't buy anything for under $1.5 mil and can't rent a 1 bedroom for less than $2200.
How the fuck do all those mexican familes live within that area?
(http://www.autoadmit.com/thread.php?thread_id=3561932&forum_id=2#32900475) |
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Date: March 25th, 2017 12:43 AM Author: Very Tactful Persian Mexican
LMFAO
Students
Studies show that diversity in school leads to long-term benefits for students. Discover why!
(http://www.autoadmit.com/thread.php?thread_id=3561932&forum_id=2#32912121) |
Date: March 23rd, 2017 5:51 PM Author: Odious Prole
Over 70% equity in ~$4 mil worth of properties in the Bay Area here, including our home in a "great schools" 10/10/9 and California API 900+/900+/barely under 900 school district.
I'd only do private if it was something legitimately unique and matched my kid's personality and ability. So, schools like Waldorf near Palo Alto, that kind of shit. Otherwise, you're waaaayyyyy fucking better off doing a good PS district + supplementing with parental involvement in literally anything if their life. So, be involved in helping them with sports, learning in general, etc. Having the wife SAH is also probably 100x more valuable then any private school or tutoring (assuming non-Shrew). And that's for 1 kid. Anything above one and private school is a total scam unless you're drowning in money and just don't care.
(http://www.autoadmit.com/thread.php?thread_id=3561932&forum_id=2#32900319) |
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Date: March 24th, 2017 1:36 PM Author: stirring famous landscape painting point
100% agreed and this is the argument in favor of private schools. The most successful people I know from a sheer monetary standpoint are the people who milked their friends' connections to get set up in business. Maybe a bro or chick from a HNW family will serve as investor, or maybe someone's big family business will serve as the first anchor client for your kid's startup. Or someone's influential parent will serve as a resource.
I know a few of these sorts of families who sent their kid to a public school in a superzip, too.
(http://www.autoadmit.com/thread.php?thread_id=3561932&forum_id=2#32907049)
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