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Old 10-13-2011, 03:30 AM
 
106,272 posts, read 108,279,471 times
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heck i dont mind being an indian,been a worker my entire life. but i have always been an investor since 1987 as well and that today has created an income that can be more at times than both my wife and i even make make as workers.

 
Old 10-13-2011, 05:37 AM
 
2,517 posts, read 4,247,770 times
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Quote:
Originally Posted by mathjak107 View Post
heck i dont mind being an indian,been a worker my entire life. but i have always been an investor since 1987 as well and that today has created an income that can be more at times than both my wife and i even make make as workers.
Remember Mathjak, its not how much you make but how much you take home. You may "earn" more as an employee but earned income is taxed the highest. Since you own real estate rentals I'm sure you're aware that rental income or passive income is taxed the least. Plus if you have a loss for your real estate investments, you can allocate those losses to lower your earned income resulting in a lower taxable income.

Those who are "indians"or employees are a slave to the wage and are the highest taxed individuals.
 
Old 10-13-2011, 06:54 PM
 
33,902 posts, read 47,091,478 times
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Quote:
Originally Posted by hilltopjay View Post
You know nothing about real estate Seventh so don't talk what you don't know. Clearly you're cut from the SAME CLOTH as the rest of these losers who knock CAPITALISM. Because YOU are unable to capitalize on CAPITALISM, you choose to bash it.

You say "If they could get away with charging $1,900 in the Bronx, they would do it." but I ask you this Seventh...why don't they? Whats stopping Bronx Landlords from charging $1,900 in the Bronx?

I'll tell you what's stopping them from charging that...THE MARKET!

That's right Seventh, the MARKET determined the PRICE of rent, NOT the Landlord.

And to answer your question....yes of coarse..IF I could charge 1 million dollars a month for rent I would. Wouldn't you? BUT GUESS WHAT...I CAN'T!!!!!!! Because the MARKET doesn't allow me to.

Besides, whats with you people and the hate you have towards other people being successful and making money so they can provide a living for themselves and their families? Is that a bad thing? Oh I get it...misery loves COMPANY. You'd prefer me to be a loser like you, working dead end JOBS and get on section 8 and welfare! You want me to join the club. OK I get it.

Seventh seriously, are you jealous or something? Are you mad because you don't have the GUTS to take risk and open up your own business and take control of your life instead of someone controlling yours? Tired of WORKING FOR THE "MAN"?

Or are you that LAZY that you prefer to take the easy way out by WORKING for someone else and being someone's EMPLOYEE and taking orders from them? Yeah I bet thats it.

I'm a firm believer in accountability. You are where you are because YOU PUT YOURSELF THERE. If you don't like it, blame no one but YOURSELF!
Lol. My point is be honest. To hell with "the market." If you're able to charge $1,900 a month and profit from that, you'll do it. Don't hide behind economics. If you were able to charge $1,900 for something thats not worth $1,900 a month and get away with it you would. Dont worry about me all my bills are paid. I dont worry about your expenses. Nor do I care your aspirations in life.
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Old 10-13-2011, 06:58 PM
 
33,902 posts, read 47,091,478 times
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Originally Posted by mathjak107 View Post
why is it those that gripe the most about rent have no problem trying to earn as much as they can at what they do and getting top dollar for their skills and investments but if landlords do it its greedy and despicable.?
You're the only LL on here that has come the closest to admitting that you're trying to make as much money as you can. That's all I want everybody else to admit. To hell with "oh the market will only let me charge this." No. Don't hide behind economics to make it seem like everything is on the straight and narrow. Sorry but your profession ranks very low when it comes to ethics value. Thats just a general perception among NYers.
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Old 10-13-2011, 07:50 PM
 
2,517 posts, read 4,247,770 times
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Quote:
Originally Posted by SeventhFloor View Post
Lol. My point is be honest. To hell with "the market." If you're able to charge $1,900 a month and profit from that, you'll do it. Don't hide behind economics. If you were able to charge $1,900 for something thats not worth $1,900 a month and get away with it you would. Dont worry about me all my bills are paid. I dont worry about your expenses. Nor do I care your aspirations in life.
No one is hiding behind the market as u say. U hate the market because u r a costumer or a victim of the market. U say that i can charge $1900 for something thats not worth it but if someone is willing to pay for it then that mean it is worth it. No onen puts a gun to the buyer's head telling them to buy. If someone thinks its too expense theyll just look elsewhere for a cheaper price and i lose business unleas i decide to reduce my price. I want to make the most money possible but over charging what the market can bear is not the way.
 
Old 10-13-2011, 07:53 PM
 
33,902 posts, read 47,091,478 times
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Originally Posted by hilltopjay View Post
No onen puts a gun to the buyer's head telling them to buy.
I have no reason to hate "the market." I know that price gouging exists and it's not right. It's like robbing from a blind man and justifying it with "well he can't see where he puts his money, so it's ok to take it."
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Old 10-14-2011, 02:10 AM
 
106,272 posts, read 108,279,471 times
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Quote:
Originally Posted by SeventhFloor View Post
You're the only LL on here that has come the closest to admitting that you're trying to make as much money as you can. That's all I want everybody else to admit. To hell with "oh the market will only let me charge this." No. Don't hide behind economics to make it seem like everything is on the straight and narrow. Sorry but your profession ranks very low when it comes to ethics value. Thats just a general perception among NYers.
believe me i dont put my money at risk,deal with tenants and the bull crap laws here because i like it.

i do it because thats how i earn my income and live .

i want to try to be as fully compensated for it as anyone else here who works for a living. im not in the charity business although the politicians used to think otherwise..

last i looked earning as much as we all can at what we do at maximum market rates wasnt a dirty word. but others on this forum think its okay for themselves to earn the max they can but others are blood suckers.
 
Old 10-14-2011, 02:15 AM
 
106,272 posts, read 108,279,471 times
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Quote:
Originally Posted by SeventhFloor View Post
I have no reason to hate "the market." I know that price gouging exists and it's not right. It's like robbing from a blind man and justifying it with "well he can't see where he puts his money, so it's ok to take it."
as we say in life let the buyer beware and a fool and his money are soon parted. there is no area in our lives where this isnt true.

every walk of life will have those that try to take advantage in situations.

laws dont stop criminals or those that take advantage of those who dont pay heed to those words above.
 
Old 10-14-2011, 06:23 AM
 
Location: Manhattan
25,368 posts, read 36,964,777 times
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Quote:
Remember Mathjak, its not how much you make but how much you take home. You may "earn" more as an employee but earned income is taxed the highest. Since you own real estate rentals I'm sure you're aware that rental income or passive income is taxed the least.
And THAT is how landlords are treated by the LAW...they pay less taxes on their money and they LOVE it. They feel others SHOULD pay more on their income then landlords do...they feel ENTITLED.

So then why do they SNIVEL and WHINE when other laws protect tenants in any way?
Landlords are a legally protected class because they buy politicians.
Play cutthroat and be rewarded, greed is the American way...but for God's sake stop kvetching about how much TENANTS abuse you.

The system in New York, and in the United States, treats landlords EXTREMELY well...they do NOT have to pay their fair share, they do NOT have to work hard...their money works FOR them.
That's whay tenants despise them when they start with their mantra of MORE MORE MORE. Their greed can reach Olympian proportions making their whining even more hypocritical.

A landlord sucking blood sounds disingenuous when he starts complaining how little MARROW he gets.
 
Old 10-14-2011, 12:57 PM
 
106,272 posts, read 108,279,471 times
Reputation: 79836
we pay less taxes on our money????????? let me hear your spin on this one
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