Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
My rent covers your mortgage--most people that have rental property end up taking a loss on their Schedule E.
Says who? If I were to rent out my house right now, I would make roughly 25% more than my mortgage payment--money I'd stash away for when I do need to repair that roof.
Plus, putting on a new roof adds equity, and in some cases, you even qualify for a tax credit.
Says who? If I were to rent out my house right now, I would make roughly 25% more than my mortgage payment--money I'd stash away for when I do need to repair that roof.
Plus, putting on a new roof adds equity, and in some cases, you even qualify for a tax credit.
It's a win-win for the home owner.
Additionally, there are Chips - Community Housing Improvement Programs. It's interest free money to pay for things like the roof, windows and doors, furnace and other items in the home and is not paid back until you sell the home and it's entirely interest free. For some incom levels you never have to pay it back.
Says who? If I were to rent out my house right now, I would make roughly 25% more than my mortgage payment--money I'd stash away for when I do need to repair that roof.
Plus, putting on a new roof adds equity, and in some cases, you even qualify for a tax credit.
It's a win-win for the home owner.
Says the IRS, and many of your major tax preparation companies that prepare Schedule E's for people--like I've done for the past 5 years.
Been working steady since 24 and didn't become a saver until 30. So I wish I had the saving mentality I have now at 24 because I would have a good amount stashed away. I have savings account with a good amount stashed away and will be able to open up a money market account by january. A large portion of my paychec goes to my savings acount since I don't have a car
See, that is good planning for your future. It's never too late. Believe me, there are plenty of people who don't have a dime in savings.
I can't and never have understood why anyone would rent a house from someone for twenty years and pay for that house for the owner. And I'm a landlord that rents a house out..and yes the renters paid for if for me in FULL.
Obviously everybody has there reasons, but over all, I would say it's because human nature gravitates to whats easy. Renting is much easier then OWNING because you don't haft to deal with the upkeep of owning a home.
The cost however; as you already know, is that you don't get to increase family wealth over time and it also puts the family behind in the next generation as the child has to start all over again just to acquire the basics (e.g. buying a home).
Grubby women, loser guys who whine because they are pretty much set in their ways and still wonder why Miss America with a PHd. doesn't want them...?
Where are the normal people out there?
Seems like the older you are, the more 'you have to prove yourself' to people who seem to think they are some sort of prize.
Wow is all I can say.
Thank you for you input of wisdom from the highest order; I completely agree with you. Today, young people (20-40 of age) compare each others balance sheets, investment portfolios, and prestigious titles that will one day be ancient history.
The problem with this type of thinking is that nobody is looking to see if they are actually COMPATIBLE and that they truly enjoy each other company as best friends. Last time I checked, it was free to be a friend and anybody could apply. Nevertheless, with all this manufactured desire to obtain material wealth, lets just say the special union between male and female (marriage) has now been reduced to a mere business transaction.
Anyhow, once the wedding is over, your stuck with that person for a long time. If you find that you have chosen the wrong person, no amount of fame, money or scholarly accolades can help you at that point; and it's even worse for the female as it's harder for her to just pick up and move on again.
IMO, and this is MY OPINION.....it's no body's effing business if who owns a home, boat, car, etc....if you are going to judge someone soley on their assets or bank account, well, that's pretty sh*tty and I'd rather not continue a convo. Just b/c someone doesn't want the HUGE responsibility of a mortgage doesn't automatically make them a loser. AND TVGUY, don't think I am defending your arse. I am just sick of people in general. People forget you're busing out a big check every month on that mortgage and car payment...BUT also living pay check to pay check. So mind your biz and everyone gets along just fine.
Thank you for you input of wisdom from the highest order; I completely agree with you. Today, young people (20-40 of age) compare each others balance sheets, investment portfolios, and prestigious titles that will one day be ancient history.
The problem with this type of thinking is that nobody is looking to see if they are actually COMPATIBLE and that they truly enjoy each other company as best friends. Last time I checked, it was free to be a friend and anybody could apply. Nevertheless, with all this manufactured desire to obtain material wealth, lets just say the special union between male and female (marriage) has now been reduced to a mere business transaction.
Anyhow, once the wedding is over, your stuck with that person for a long time. If you find that you have chosen the wrong person, no amount of fame, money or scholarly accolades can help you at that point; and it's even worse for the female as it's harder for her to just pick up and move on again.
GREAT POST!!!!!!!!!! I agree, no one tries to see if they can get along and enjoy each other's company first just what I have and when I plan to get it. Now I would have been in the wrong if I said-"I expect to have a house by the end of the year and when I get are you going to suck my D,,,,,K inside of it?
GREAT POST!!!!!!!!!! I agree, no one tries to see if they can get along and enjoy each other's company first just what I have and when I plan to get it. Now I would have been in the wrong if I said-"I expect to have a house by the end of the year and when I get are you going to suck my D,,,,,K inside of it?
Um, nice try to be all sane and understanding, but weren't YOU the very one that said you wouldn't date a girl if she didn't have cable?? How is THAT "trying to see if we get along and enjoy each other's company first"??
Um, nice try to be all sane and understanding, but weren't YOU the very one that said you wouldn't date a girl if she didn't have cable?? How is THAT "trying to see if we get along and enjoy each other's company first"??
Double standardddddddddd.
Don't forget 'must live in a nice neighborhood' - that one blows it out of the water.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
