Think I found Nana's new house

[guest]

Rich people do that with their own cash. Private equity lends money at 12 - 15%. Trusting that you’ll benefit from apple stock or Netflix is just cumia rich.

You’re right, I’m going to liquidate everything and buy gold bars and keep them under the bed. Thanks for the advice.

 

[JebJoh]

I’m just asking, not making pepperoni

 

[WhereWeAt]

Trusting that you’ll benefit from apple stock or Netflix is just cumia rich.

No, thinking a 15 ft pool gives one seductive pheromones is Cumia rich. Saving and investing is the regular kind.

 

[Queefer Sutherland]

Yes doing it stupidly is stupid but most rich people have debt because it makes sense to have it.

Why buy something in cash when you can borrow the money at a very low interest rate and then invest the cash at a higher internet rate?

Median home price - $428,000
Median property tax rate - 1.08%
Average homeowners insurance - $2000
360 payments at rates above - $898,850.96

No one figures in PMI, taxes and insurance.

You save $470,851 by not having a mortgage. That would have yielded over $2 million in the weakest Roth in 30 years. But no one keeps their home 30 years and inflation is a bitch. Over half of that profit would be eaten up over a 30 year period while the home you paid off increases in value $6-700k. You're looking at around a half million net gain by having a mortgage. But if you have a high enough income to pay cash for a house, who gives a shit? You're earn millions over the next 30 years anyway.

 

[guest]

Median home price - $428,000
Median property tax rate - 1.08%
Average homeowners insurance - $2000
360 payments at rates above - $898,850.96

No one figures in PMI, taxes and insurance.

You save $470,851 by not having a mortgage. That would have yielded over $2 million in the weakest Roth in 30 years. But no one keeps their home 30 years and inflation is a bitch. Over half of that profit would be eaten up over a 30 year period while the home you paid off increases in value $6-700k. You're looking at around a half million net gain by having a mortgage. But if you have a high enough income to pay cash for a house, who gives a shit? You're earn millions over the next 30 years anyway.

So you’re describing a scenario where you profit but calling it stupid? I don’t get it.

This is why people do it, it makes money. Yes, part of the money you make goes to interest but you still make money. The other costs are irrelevant because you pay them either way. And FYI, well-off people don’t have to pay PMI, that’s a Jew scam for poors.

 

[Queefer Sutherland]

So you’re describing a scenario where you profit but calling it stupid? I don’t get it.

This is why people do it, it makes money. Yes, part of the money you make goes to interest but you still make money. The other costs are irrelevant because you pay them either way.

Does the word stupid appear in the post? I said I wouldn't give a shit.

And FYI, well-off people don’t have to pay PMI, that’s a Jew scam for poors.

Well off people don't purchase median priced homes which I used as an example.

 

[Torque’sHeadBump]

975k for a house in the sticks, made of plastic, plywood and drywall, not one real brick to be seen and it is only a matter of time before it floods or get infested by termites. All this before adding a swimming pool and a studio.

Nana really IS, some kind of rich. Nice mortgage, stupid.

How many “residuals” does $975k translate to?

 

[Prince Bvstin]

1.5 acres, pfft...