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RATE the economics of the new house i bought
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Date: December 16th, 2017 9:07 PM Author: disgusting brunch 1350 sq ft
$120,000
Can rent for 1250/mo
2.5 bath, 2 BR in ARE cuntry
Mortgage: 15 yr, 5% down, 3.375% PMI: ~$50/mo Insurance: $300-400/yr bc only a condo/townhome
Association fees: $160/mo Real estate tax: $3500/yr (I know this sucks so bad)
Total monthly payment (all in) $1400/mo PMI gone in 3 years
Hoping for the house to go up to $140k. Only nonblack, nonprole neighborhood with newer homes (built early 2000s) |
Date: December 16th, 2017 9:22 PM Author: judgmental twinkling uncleanness Is this a rental? (http://www.autoadmit.com/thread.php?thread_id=3831618&forum_id=2#34938681) |
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Date: December 16th, 2017 9:23 PM Author: disgusting brunch Owner occupied but can rent down the line. Saves me $1200 rent. (http://www.autoadmit.com/thread.php?thread_id=3831618&forum_id=2#34938683) |
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Date: December 16th, 2017 9:24 PM Author: fear-inspiring well-lubricated black woman You get a tax deduction on the interest, you get to deduct property tax, and your monthly payment is basically fixed (all but the escrow part). In 25 years when you are still paying 1400 a month or whatever and the rents in the area have more than doubled you will be very glad you bought. (http://www.autoadmit.com/thread.php?thread_id=3831618&forum_id=2#34938689) |
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Date: December 16th, 2017 9:29 PM Author: disgusting brunch Yo, is the standard deduction doubling to $12,000? BC then I guess I would not itemize (http://www.autoadmit.com/thread.php?thread_id=3831618&forum_id=2#34938723) |
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Date: December 16th, 2017 9:28 PM Author: Cheese-eating balding knife boistinker I just moved into a new place. Today, I took my first shit in the house AND jerked off in the bathroom sink. Not at the same time though. (http://www.autoadmit.com/thread.php?thread_id=3831618&forum_id=2#34938713) |
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Date: December 16th, 2017 9:29 PM Author: disgusting brunch From HYY in Philadelphia... (http://www.autoadmit.com/thread.php?thread_id=3831618&forum_id=2#34938721) |
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Date: December 16th, 2017 9:31 PM Author: Cheese-eating balding knife boistinker Yeah, I can only cum if Fresh Air is playing in the background. (http://www.autoadmit.com/thread.php?thread_id=3831618&forum_id=2#34938735) |
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Date: December 16th, 2017 9:29 PM Author: disgusting brunch Principal is $487/month Interest is $320/month
Say, if a renter pays 1200, you have -200/mo in cashflow.
$3444 profit in first year=57.4% return on initial $6000 investment, assuming no capital appreciation or tax deductions.
In 5 years the principal rises to $575. Returns 75% of the initial down payment annually.
I'm gonna buy more of these properties bros. NOCOIN!! |
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Date: December 16th, 2017 9:30 PM Author: low-t swashbuckling factory reset button locale you're hoping your house goes from 120 to 140 in 10 years? meanwhile bitcoin 10x'd (again) over the last 2 months (http://www.autoadmit.com/thread.php?thread_id=3831618&forum_id=2#34938729) |
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Date: December 16th, 2017 9:31 PM Author: disgusting brunch Just do value investing bro
Expected present value of future cashflows
Margin of safety
Buy a dollar for $0.50 rather than a bitcoin for $20,000 |
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Date: December 16th, 2017 9:32 PM Author: disgusting brunch That's not so bad under 20:1 leverage
Hopefully it can do even better
Just conservatively stated
Dhando investing, bro |
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Date: December 16th, 2017 9:32 PM Author: Cheese-eating balding knife boistinker Depends. Any black neighbors? (http://www.autoadmit.com/thread.php?thread_id=3831618&forum_id=2#34938742) |