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Ahh you found my post scoping out a foreclosure in Sterling park
How did I do it? I had 4 years not 5 months. I have never rented in my life, went straight from my parents home to my current home which I own.
So just 5-6 months ago you were looking at houses under 200k and instead bought something in the 950-1.1mm? Strange that's a high increase and you put 500k down?
If you just bought it in the last few months you'd have a pretty good idea what it's worth without zestimates
Last edited by Lowexpectations; 10-01-2015 at 10:29 AM..
A total of 4 properties, that is the combined value. Apart from my first home, all my rentals were short sales/foreclosures. As to getting a loan, 2 years of tax returns, a 20% down payment with my parents as a co signer (I put down more than that) is all that was needed (currently serviced by USbank). 2 rentals purchased with cash, last rental purchased with a mortgage.
I do have a good idea on all the values, even though 3/4 were purchased more than a year ago. 1 of them in uninhabitable condition, the other just very poor condition.
If you have access to VA mls, this can all be confirmed .
So to recap, 4 properties and 2 mortgages.
Believe it or not..... I don't care . Maybe I just like pretending to be a landlord on city-data and bigger pockets?
A total of 4 properties, that is the combined value. Apart from my first home, all my rentals were short sales/foreclosures. As to getting a loan, 2 years of tax returns, a 20% down payment with my parents as a co signer (I put down more than that) is all that was needed (currently serviced by USbank). 2 rentals purchased with cash, last rental purchased with a mortgage.
I do have a good idea on all the values, even though 3/4 were purchased more than a year ago. 1 of them in uninhabitable condition, the other just very poor condition.
If you have access to VA mls, this can all be confirmed .
So to recap, 4 properties and 2 mortgages.
Believe it or not..... I don't care . Maybe I just like pretending to be a landlord on city-data and bigger pockets?
Your story seems a bit fuzzy and it's based on your posts not anything else. So 5-6 months ago you owned 2-3 properties while living in an apartment and since then have purchased 1-2 more?
A total of 4 properties, that is the combined value. Apart from my first home, all my rentals were short sales/foreclosures. As to getting a loan, 2 years of tax returns, a 20% down payment with my parents as a co signer (I put down more than that) is all that was needed (currently serviced by USbank). 2 rentals purchased with cash, last rental purchased with a mortgage.
I do have a good idea on all the values, even though 3/4 were purchased more than a year ago. 1 of them in uninhabitable condition, the other just very poor condition.
If you have access to VA mls, this can all be confirmed .
So to recap, 4 properties and 2 mortgages.
Believe it or not..... I don't care . Maybe I just like pretending to be a landlord on city-data and bigger pockets?
You own a home with a mortgage co-signed by your parents, own a bunch of income properties, yet you were renting an apartment just 5 months ago. Yeah, that makes a whole lot of sense.
You own a home with a mortgage co-signed by your parents, own a bunch of income properties, yet you were renting an apartment just 5 months ago. Yeah, that makes a whole lot of sense.
you don't rent out all of your real estate and live in apartments? Perhaps you are the odd one, lol.
I also find it odd that 22003yo would care so much about the area of the 150k condo at night if they weren't indeed planning to live there.
Do you have specific examples of posters who you KNOW inflated their net worth using the tactics you described? There was a least 2 that I saw that were clearly satirical. The rest seemed reasonable.
Not going to call out a specific poster but we have had claims in this thread of intention to default on student loans so not adding that to liabilities and adding future earnings from an employment contract and social security to net worth. The posts were not satirical.
I'd like to know how the people here in their 20s and 30s report such high net worth in the mid-6 figures. I'm 32 and have a higher than average NW for my age but it's 80% due to inheritance... and quite frankly higher than it otherwise would be because the relative happened to die when her investments were at near all-time high points.
I don't really know that much about investing beyond basics, so my main focus is not losing it.
There was no way in hell I could possibly have a high NW on my own. It would get into the mid 6 figures eventually but due to expected raises and increases in home value, equity building.
How a young person could earn so much to build a multi-6 figure NW is incomprehensible to me. Very, very few of my peers make 100K plus unless they live in NYC, Bay Area or Seattle and in those cases their NW is proportional.
I'd like to know how the people here in their 20s and 30s report such high net worth in the mid-6 figures. I'm 32 and have a higher than average NW for my age but it's 80% due to inheritance... and quite frankly higher than it otherwise would be because the relative happened to die when her investments were at near all-time high points.
I don't really know that much about investing beyond basics, so my main focus is not losing it.
There was no way in hell I could possibly have a high NW on my own. It would get into the mid 6 figures eventually but due to expected raises and increases in home value, equity building.
I can say from our perspective, a lot of our NW is tied up in the fact that we got lucky and got into a rapidly gentrifying "hot" neighborhood in Houston before it really started to boom.
That, plus maxing out our retirement options for the past 7-8yrs on two incomes. It also doesn't hurt that I get a fairly large 401k match from my employer...
LOL at believing the idiots ITT, statistics proves that 99% of these people are full of ****
Statistics don't prove anything here, at least not any statistics you are referring to
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