People say renting is 'throwing money away' but I couldn't disagree more

[TNOT]

Once again... as ive said many many many times... im pro ownership, i own a home breh.

Im anti selling your home and that was my point. How much of your closing cost was principle? How much did you pay total at closing? Have you seen the amortization rates for your home?

Selling homes is not a good way to make money unless you are buying the home outright. That was my point, and is still my point. A home is not really a sellable asset unless you have multiple homes or having a roof over your head is irrelevant to you.

Stop selling homes brehs. Give them to your children and give them a 300k legup in life

Great advice.

 

[Yaboysix]

How you brehs feel about renting to own.im in florida btw..

 

[Gold]

How you brehs feel about renting to own.im in florida btw..

Never done it, but are you building any equity in the home in the renting phase? Are you responsible for propery tax and insurance? I assume no to all but gotta ask

I just hope you arent getting screwed. My brother leases out his homes to people for far more than the original mortgage was before he paid them off.

Its crazy what people will spend to rent a home vs an apartment

 

[Geek Nasty]

So many factors involved. How long you plan on staying, how much space you want, job security, etc.

for me buying a house was about quality of life., investment distant second. But in sitting on about $120K in equity i wouldn't have renting. But if you dont want or need the space and your never home

 

[Yaboysix]

Never done it, but are you building any equity in the home in the renting phase? Are you responsible for propery tax and insurance? I assume no to all but gotta ask

I just hope you arent getting screwed. My brother leases out his homes to people for far more than the original mortgage was before he paid them off.

Its crazy what people will spend to rent a home vs an apartment

Oh noooo! Im renting right now. Just researching and asking before i decide what i should do. I aint trying to get screwed by the banks!

 

[Thegospel]

Y’all always worried what the next man doin wit his money. Criticizing people that don’t do what you do. THATS the problem on here.

 

[Dameon Farrow]

You could rent and rent out properties. Many levels to this.

 

[Gold]

Oh noooo! Im renting right now. Just researching and asking before i decide what i should do. I aint trying to get screwed by the banks!

I feel you

Unless you are buying from someone personally (they fully own it) or you are buying outright, its difficult to avoid getting screwed by the banks.

Im getting screwed by the banks right now, im fully aware of it. But my kids are gonna all inherit homes (multiple) from me so they dont have to go through this

 

[Yaboysix]

I feel you

Unless you are buying from someone personally (they fully own it) or you are buying outright, its difficult to avoid getting screwed by the banks.

Im getting screwed by the banks right now, im fully aware of it. But my kids are gonna all inherit homes (multiple) from me so they dont have to go through this

Buuuut when you pass it on to your kids eventually when you're gone..are they gonna all get along and cooperatively come up with what to do with the property in a civil manor without it getting ugly? I see this end bad waay to often..

 

[MITS]

These threads are funny af cause majority of the posters don’t even have $1,000 liquid.

 

[Gold]

Buuuut when you pass it on to your kids eventually when you're gone..are they gonna all get along and cooperatively come up with what to do with the property in a civil manor without it getting ugly? I see this end bad waay to often..

Very real question. I hope i can leave a home for each one. I mean that seriously. If not... i gotta think about that cuz what you're saying is real

I know too many white people who have gotten.a massive leg up in life due to inheriting a house. I need my kids to have the same

 

[Yaboysix]

Very real question. I hope i can leave a home for each one. I mean that seriously. If not... i gotta think about that cuz what you're saying is real

I know too many white people who have gotten.a massive leg up in life due to inheriting a house. I need my kids to have the same

Yeah.we def need that leg up in life for our babies bruh.

 

[Tiffrock]

It doesn't make sense to do that in ATL. Rent has definitely gone up. My neighbor who has been renting for 5 years pays double my mortgage.

 

[Amused Mastery]

Buuuut when you pass it on to your kids eventually when you're gone..are they gonna all get along and cooperatively come up with what to do with the property in a civil manor without it getting ugly? I see this end bad waay to often..

This is real, plus you have situations where family members don’t really know what to do with the property when they have it.

Family member of mine owned a row house in DC close to the Capitol for years, easily around a mil in value at today’s prices. Unfortunately, she ended up borrowing against it in order to bail out one of her sons that got into some trouble. After she passed a couple of years ago, her caretaker couldn’t afford to pay for the upkeep/mortgage and ended up having to sell it. Would have been nice to keep in the family but...

 

[Absolut]

Who actually puts 20% down?

If you’re buying a house and can’t put that much down, you cant afford said house