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Another FAIL. Disregarding the infrequent example where the Bentley appreciates because its owner is a collector who maintains it in pristine condition, cars generally depreciate over time, while homes appreciate over time.
PLEASE give us some examples of appreciating assets which are accessible to the average renter.
there is no average renter , we are all different , like snow flakes . renters range from the very poor to the very wealthy .
huh , you need an example of assets that appreciate to a renter ?
stocks ,bonds , investment real estate , and any other asset class .
i have rented and made lots of money in all these other assets .
in fact i made the biggest chunks just because i rented and my money was not tied up in a home .
initially i worked many jobs starting as a teen so i always had money accumulating to invest .the more i accumulated the bigger the deals i entered in to .
if anything ,renting was a plus in my life as far as accumulating assets since it gave me working capital that was not tied up and the assets appreciated at a far greater rate than residential real estate you live in did .
if someone has the resources to own a home they have choices , they can rent and invest elsewhere or buy . it is only those renters who always were poor or have little resources that will stay poor with no choices .
there is no average renter , we are all different , like snow flakes . renters range from the very poor to the very wealthy .
Agreed.
Quote:
... if someone has the resources to own a home they have choices , they can rent and invest elsewhere or buy . it is only those renters who always were poor or have little resources that will stay poor with no choices .
I have had many tenants who had more salary income than I had.
They were not homeowners because they perceived that they did not earn enough to own home.
there is no average renter , we are all different , like snow flakes . renters range from the very poor to the very wealthy .
huh , you need an example of assets that appreciate to a renter ?
stocks ,bonds , investment real estate , and any other asset class .
i have rented and made lots of money in all these other assets .
in fact i made the biggest chunks just because i rented and my money was not tied up in a home .
initially i worked many jobs starting as a teen so i always had money accumulating to invest .the more i accumulated the bigger the deals i entered in to .
if anything ,renting was a plus in my life as far as accumulating assets since it gave me working capital that was not tied up and the assets appreciated at a far greater rate than residential real estate you live in did .
if someone has the resources to own a home they have choices , they can rent and invest elsewhere or buy . it is only those renters who always were poor or have little resources that will stay poor with no choices .
More FAIL. Investment real estate is NOT accessible to the vast majority of renters. HowTF is someone who cannot buy a home buy investment real estate?
wrong .soooo many renters are renters with money and choices . they just choose not to own .
our entire building is filled will well to do renters . many own investment property , 2nd homes or business's . why do you assume if you rent you have no money . you are basing your assumptions on the fact you have no money .
at our peak we owned 10 co-ops , 9 in the 200 central park south building and one in kew gardens ,plus commercial lease rights on 200 central park south and yet we rented in queens . we continue to rent right up to today . for us renting is the better value and the easiest .
our tenants in the city apartments can buy us if they wanted to they are so wealthy .
Last edited by mathjak107; 08-16-2016 at 07:59 AM..
wrong .soooo many renters are renters with money and choices . they just choose not to own .
our entire building is filled will well to do renters . many own investment property , 2nd homes or business's . why do you assume if you rent you have no money . you are basing your assumptions on the fact you have no money .
at our peak we owned 10 co-ops , 9 in the 200 central park south building and one in kew gardens ,plus commercial lease rights on 200 central park south and yet we rented in queens . we continue to rent right up to today . for us renting is the better value and the easiest .
our tenants in the city apartments can buy us if they wanted to they are so wealthy .
Sorry to burst your bubble, but CPW - and Manhattan below 96th generally - is hardly accessible to the vast majority of renters. Manhattan is an outlier among renter habitats.
but that is just our location , there are renters all over the country doing what we did . to think every renter is poor and does not invest elsewhere is nonsense .
those who want to succeed will find a way . the others will find an excuse .
You did ask about the AVERAGE renter . Homeowners are generally smart enough to not invest in things like that.
Over time I developed a much larger Net Worth. But to start I had the same Net Worth as any renter might have.
I came up with the closing costs to get into a building, and my tenants provided the cash to make the monthly mortgage payments. I built equity from their salaries.
Four properties later it was much different. I still had never made a mortgage payment from my salary. I still had tenants who earned more than I earned. But over years of having tenants provide the cash every month to make my mortgage payments, I had built up a large Net Worth.
Investing works great, using other people's money.
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