I just got a BIG AZZ CHECK deposited into my account brehs!!! :blessed:
- Thread starter Stuntone
- Start date
Pay off at least half or 75% breh.......
I'm a forwarding thinking type of person also pretty money savvy too. I don't recall how much you said it would run you to finance but if you have a decent amount of cash on hand it's a good idea to put a lump sum down just in case something happens in 1 year 2 years or 3. Heaven forbid something does, but either way your credit score will go up once you successfully pay it off. Depending on the bureau one or 2 might have taken a hit because you ripped your existing loan (I think you said you owed like 4600 still).Explain to me why?
Whether you drop 50 or 75% now and whittle the rest away with payments plus interest or just continue to pay monthly with interest until it's gone as long as you don't miss a payment or default or keep extending your credit score will go up. So why wait 60 or 72 months when you can kill it in 12-24 or 36?
It's better to own than rent my brotha..you need that title in your hands then you can do what the fukk you want with the car, sell privately or trade it in when you've had your fill
Put us up on game Sir.
How did you go about this? You bought the place, fixed it up, then sold it?
My main thing was, after the market crashed in 2007/08. I decided to buy early 2009, bcuz rent and mortgage $1300 were almost the same back then. And I know I could rent a room out for 600$. What I didn't know was with all the bills and taxes and warranty and insurance I was pay over 2k a month.
Where I lucked up is, they have build the area up. I did invest in the place, about 7k. Carpet, paint and stuff. Plus the market picked up a little. I somewhat lucked up or was fortunate. You never know what the market might do. I cashed out.
My main thing was, after the market crashed in 2007/08. I decided to buy early 2009, bcuz rent and mortgage $1300 were almost the same back then. And I know I could rent a room out for 600$. What I didn't know was with all the bills and taxes and warranty and insurance I was pay over 2k a month.
Where I lucked up is, they have build the area up. I did invest in the place, about 7k. Carpet, paint and stuff. Plus the market picked up a little. I somewhat lucked up or was fortunate. You never know what the market might do. I cashed out.
That's awesome.
So are you gonna do it again with the cash you just made?
I will say folks, I don't think I'm a finance guru, but I know I'm better with money than most, but a lot of you dudes always go against me. The reason I'm better, is bcuz I think harder and don't just going with sayings and quotes. I've always been cheap, but in 2008 I started watching The Dave Ramsey Show. It confirm a lot of things I know and taught me some new things. Credit isn't really sh:t. Unless you need it to start a business. You don't need credit, you need buying power.
I've always knew you need extra to make money. So I've always keep a roommate. Even though I had money to have my own, we have to get out of that stupid image/ american dream bs. The first and biggest mistake most of us make is housing. It puts a lot of us in a check to check situation. When you're check to check, your going to always be broke.
Most people think having a nice car and renting is stupid. It's not at all. You shouldn't buy a house, just to buy a house. Especially if you aren't from there and/or don't plan to be there for a while. Just a lot of backwards and old thinking I see on this board and I get clowned for questioning it. Oh well.
I've always knew you need extra to make money. So I've always keep a roommate. Even though I had money to have my own, we have to get out of that stupid image/ american dream bs. The first and biggest mistake most of us make is housing. It puts a lot of us in a check to check situation. When you're check to check, your going to always be broke.
Most people think having a nice car and renting is stupid. It's not at all. You shouldn't buy a house, just to buy a house. Especially if you aren't from there and/or don't plan to be there for a while. Just a lot of backwards and old thinking I see on this board and I get clowned for questioning it. Oh well.
Come to Tennessee if you wanna be cheap. Rent is $400/mo for 2 bathrooms, 2 bedrooms, nice kitchen and a nice living room. Just don't go to Memphis, breh. If anywhere go to Nashville.
Exiled Martian
Was young I couldn't do good, now I can't do Bad
My main thing was, after the market crashed in 2007/08. I decided to buy early 2009, bcuz rent and mortgage $1300 were almost the same back then. And I know I could rent a room out for 600$. What I didn't know was with all the bills and taxes and warranty and insurance I was pay over 2k a month.
Where I lucked up is, they have build the area up. I did invest in the place, about 7k. Carpet, paint and stuff. Plus the market picked up a little. I somewhat lucked up or was fortunate. You never know what the market might do. I cashed out.
Wise move playing that real life Monopoly.. collecting $$$$ as you pass GO. I'm in a similiar predicament.... got two props (2 bed flat and a 1 bed studio flat) to my name... but like you said its an investment a buy to let venture per se..... no emotional attachment to the places what so ever! Market is fluctuating at the moment but picking up slowly.....waiting on that equity to accumulate some more.. before I can sing that Kerchiinngggg song
Excuse the minor thread hijack breh..but toanyone else looking to hop on that property ladder I urge you to read the following book Cover to Cover....Insightful is an understatement..... this is Golden (UK specific)
Bought this book 4 or so years ago.......its abit dated & to be honest has quite a few gems in there as far as advise goes for a beginner.........personally the property game is my ticket to an investment portfolio (when I hit early 30's hopefully)....& hopefully in turn that will help me retire my salary reliant life style & be my own BAWWWSSEEEE..........pray for me brehs...
