Jhoon
Spontaneous Mishaps and Hijinks
That wasn’t the question.
People say renting is 'throwing money away' but I couldn't disagree more
- Thread starter Doobie Doo
- Start date
Ive read/heard that you need to be VERY careful w/ these.
A good % of the time the owner ends up selling to someone other than the "renter that's trying to own".
Yaboysix
That nikka
Damn! Thanks
Yaboysix
That nikka
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...
Yeah.stuff happens. Kids start beefing, kids turn to junkies, kids grow up to not be shyt, folk get in jams.. I seen it all lol
That's why instilling a sense of ownership (among other things) into your kids are so important.
One of the reasons Home Ownership was so big to me was the few times I would ride w/ Moms to see the Rent Man.
As a young kid, her counting the money for the rent reminded me of movies when a deal would go down and the money would be in a briefcase.
Then when I got a lil older I would see Billboards about new housing developments where homes where prices in the "100's".
Now, I didn't know they meant $100K+, but I used to think why the fukk don't we just buy a house for a couple of 100, when we just paid the rent man wayyyyyyyy more than that for this little ass Apartment???
Then FF a few more years and says she was counting up rent money and realized we could afford a house for the monthly rent she paid.
I remember her on the phone one night being mad as hell. She tried to get him to lower the rent and he said no. Moms was yelling into the phone, Im making that MFer RICH!
Moms got her house and opened up a home daycare. So in the span of 6 months, you go from now owning nothing, but a car and working a job you prolly don't like to owning a home, opening an business, while doing having a job you actually didn't mind doing.
Even at age 11 man, I could feel the difference in space, in freedom, in pride and ever since then, I wanted to Own an home at a young age.
One of the reasons Home Ownership was so big to me was the few times I would ride w/ Moms to see the Rent Man.
As a young kid, her counting the money for the rent reminded me of movies when a deal would go down and the money would be in a briefcase.
Then when I got a lil older I would see Billboards about new housing developments where homes where prices in the "100's".
Now, I didn't know they meant $100K+, but I used to think why the fukk don't we just buy a house for a couple of 100, when we just paid the rent man wayyyyyyyy more than that for this little ass Apartment???
Then FF a few more years and says she was counting up rent money and realized we could afford a house for the monthly rent she paid.
I remember her on the phone one night being mad as hell. She tried to get him to lower the rent and he said no. Moms was yelling into the phone, Im making that MFer RICH!
Moms got her house and opened up a home daycare. So in the span of 6 months, you go from now owning nothing, but a car and working a job you prolly don't like to owning a home, opening an business, while doing having a job you actually didn't mind doing.
Even at age 11 man, I could feel the difference in space, in freedom, in pride and ever since then, I wanted to Own an home at a young age.
Jhoon
Spontaneous Mishaps and Hijinks
Rent never goes down. Obtaining a mortgage is a freeze on an expense that is making far too many people on this country homeless.
Jhoon
Spontaneous Mishaps and Hijinks
Kids also sell to move around while people. Sometimes the kids are fukked up. I blame it on the lack of financial acumen.
Hater Eraser
Veteran
Rents still rising ..
BaldingSoHard
Veteran
As an owner, your options are:
As a renter, your options are:
I hope this clears it up.
- Pay your own mortgage; earn equity, receive tax deductions and long-standing credit history and a marvelous hedge against inflation.
- Rent it out and let someone else pay your mortgage; earn equity, receive tax deductions and long-standing credit history and a marvelous hedge against inflation.
- Sell the home and cash in on your equity.
- Pass the property down to your progeny.
As a renter, your options are:
- Pay someone else's mortgage.
I hope this clears it up.
Armchair Militant
Stay woke
You can build wealth either way.