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epitaph
July 27, 2018, 12:18 AM
Which is better in general in terms of long-term net worth?

Heard cases for both.

Remember Mufi saying he rents himself and rents out his house.

And heard multiplexes are the best since they pay for themselves monthly (if 30 yr mortgage) once you rent out the remaining rooms and units.

Basically, trying to decide between:

- Keep renting
- Buy a condo and lease the other room
- Buy a house and lease other rooms
- Wait, save up more, and buy a duplex/triplex

Yankees
July 27, 2018, 01:32 AM
what market are you looking at and do you have a family?

adamnsu
July 27, 2018, 04:03 AM
It all depends on your financial situation and the premium between renting and taking a property on mortgage really. Also lets not forget one's personal circumstances and the property market of the area you are buying into

However IMO I would say buy rather than rent if you can afford to. Buying a house with a mortgage is like renting but with a fixed asset at the end for yours to keep.

mufi_02
July 27, 2018, 07:29 AM
Which is better in general in terms of long-term net worth?

Heard cases for both.

Remember Mufi saying he rents himself and rents out his house.

And heard multiplexes are the best since they pay for themselves monthly (if 30 yr mortgage) once you rent out the remaining rooms and units.

Basically, trying to decide between:

- Keep renting
- Buy a condo and lease the other room
- Buy a house and lease other rooms
- Wait, save up more, and buy a duplex/triplex

I haven't bought yet. hopefully this year InshaAllah.

thing is in US, real estate has become very hot. prices are slightly inflated. I should have bought it last year. so right now its a seller's market. inventory is low and demand is quite high (good economy, fear of rising interest rate).

But owning is the right option, if your current rent will be equal to your future mortgage. you are building equity.

but as yankees said, it's all relative based on the market you are at. it is not consistent across the board but do note that mortgage rate will only go up in the next few years. do your due diligence and start looking at some places.

bujhee kom
July 27, 2018, 10:47 AM
Buy
Rent it out
Sleep on a park bench or on the subway
Save enough to buy another
Follow this method and someday Insh Allah you will own a small town in Idaho.

Shingara
July 27, 2018, 12:53 PM
Buy
Rent it out
Sleep on a park bench or on the subway
Save enough to buy another
Follow this method and someday Insh Allah you will own a small town in Idaho.

You do ?


Na ? Tailey eishob azaira advice diyen na.

Jadukor
July 27, 2018, 03:46 PM
I bought a house but ended up selling it for profit after about 6 years. Now in the market to buy again. While buying is the sensible choice since the mortgage sort of forces you to save towards owning an asset, one must always keep in mind the resale market of the property in case your economic situation becomes significantly better and you want to move to a better neighborhood that seems out of reach at the moment.

epitaph
July 27, 2018, 07:20 PM
How likely is a recession in the next 4 yrs? You know, with Trump and all.

Buy
Rent it out
Sleep on a park bench or on the subway
Save enough to buy another
Follow this method and someday Insh Allah you will own a small town in Idaho.

Honestly, I would consider living in a storage if people at work weren't judgmental. Don't care if people outside work are.

DinRaat.
July 27, 2018, 10:30 PM
Parents bought apartment, in 2008 for 190K sold for 410K this was in Metro Western Sydney.

Preferably buying is the way to go as others have said you get a fixed asset and the end.

Then again I am not expert.

DinRaat.
July 27, 2018, 10:32 PM
If you guys think the property market in the USA is bad, wow come to Australia with 500K you would be lucky if you can buy a shack.

Yankees
July 28, 2018, 01:24 AM
I bought a house but ended up selling it for profit after about 6 years. Now in the market to buy again. While buying is the sensible choice since the mortgage sort of forces you to save towards owning an asset, one must always keep in mind the resale market of the property in case your economic situation becomes significantly better and you want to move to a better neighborhood that seems out of reach at the moment.

Where did you buy and why did u decide to sell?

Jadukor
July 28, 2018, 01:36 AM
Where did you buy and why did u decide to sell?
Bought in Thailand. The housing market was soft right after the massive flooding in 2011 and i took the opportunity to buy at a relatively lower price. Over time i felt that i could afford a better house in a better neighborhood and took advantage of the upswing in price due to the start of a metro rail connection and construction in my area. My plan now is to invest the profit and a sizable capital at once in a new property to reduce the mortgage loan amount as well as the interest.
Another advice i would give is to always look to refinance your long term loan if you notice better/lower mortgage rates. I did that to bring down my interest after 3 years through a different bank.

Yankees
July 29, 2018, 01:34 PM
Bought in Thailand. The housing market was soft right after the massive flooding in 2011 and i took the opportunity to buy at a relatively lower price. Over time i felt that i could afford a better house in a better neighborhood and took advantage of the upswing in price due to the start of a metro rail connection and construction in my area. My plan now is to invest the profit and a sizable capital at once in a new property to reduce the mortgage loan amount as well as the interest.
Another advice i would give is to always look to refinance your long term loan if you notice better/lower mortgage rates. I did that to bring down my interest after 3 years through a different bank.

that's interesting. Are you a permanent resident of Thailand? With the rate that SEA is developing, it would be fun to buy something in Thailand, Philippines, Indonesia, and just hold onto it. Sounds like you've got the right idea.

Yankees
July 29, 2018, 01:53 PM
I've been looking at buying something in NYC area. It seems to be a sellers market now, so I'll hold off for now. But curious what others with more experience thinks of the market now.

I'm single and looking at it as an investment, so solely looking at multi-units. I'm not even considering living there.

For NYC, I think its as safe of a bet as can be. The only downside I see is having to deal with tenants and the general upkeep needed. Not to mention tenants have too much power in this city. Am I wrong?

mufi_02
July 29, 2018, 02:01 PM
^ is there anything less than $500-600k in NYC? I think the price is way too inflated there. 20% down payment means 100k at least.

That’s out of my reach really. Have to sell a kidney to afford anything in NYC these days.

Yankees
July 29, 2018, 06:51 PM
yea sure, if you are interested in gut renovations that are 20 mins away from the nearest subway station. places like maspeth, flatbush, sunset park.

epitaph
July 29, 2018, 08:04 PM
Dream: Triplex, build a tiny house in backyard and rent it out too, an aquaponics garden in a greenhouse at the other end, sell microgreens to restaurants. Maybe even sell worms (will have them for garden anyway) and keep bees. Part-time farmer, part-time landlord hehe.

Right now, cheapest condos here are $100k. Sellers market but people are moving into the city.

Buy a condo now or do nothing and wait for next recession to buy a multiplex. Decisions, decisions...

iDumb
July 29, 2018, 11:34 PM
I rent by choice. It is not a good financial move but it gives me a lot of freedom. My current monthly rent is 1800, if i buy and the area and type of house I would move into my monthly mortgage will go into 4000 to 4500/mo. While living in one location more than 5 years automatically makes purchasing a better choice - there are other factors ppl don't consider. Lifestyle.

That's 2000 dollars a month extra I have to pay just to have a roof over my head and that ties up the money in an illiquid asset and will not allow me to take vacations or do whatever I want to do at any given moment.

I enjoy this freedom. I do not believe in living in the closet to save money and spend it when I am old. It doesn't fit well with me.

In my opinion and above average analysis, buying is always better. But one can not give advice on individual situations..

Another point is - buying should happen when you are ready. NOW. Just like stock market. You can not time it. Housing goes through cycles and it is difficult to predict when is the right time to buy. NYC is an international market, not a "local" market if that makes any sense. So even if housing prices outpaces significantly any increase in salary of locals - it is not necessarily an overvalued market..

for ex: A lot of developments in Jamaica Queens where a massive Bangladeshi ppl stay - lot of these are financed by wealthy ppl from Bangladesh. Not local bangladeshis/ppl. And these demands for space keep the prices shooting higher and higher. And that is the case all over NYC with ppl with money from china, india, russia are looking to "diversify/legitimize" their wealth.

iDumb
July 29, 2018, 11:37 PM
4 years ago, I offered for a house in queens with 740K, a chinese buyer offered 770 cash. I backed out as there is no way i can compete with someone who can pay that much money with cash. That property currrently is valued at 1.4 million. And that is the story of my life.

It is not overvalued - you are just competing globally - which makes it very tough... just have to have a little bit of luck on your side sometimes.

By luck i mean if for that house there were no outside cash buyer, the owner would have countered my offer and i would have gone up maybe another 15 to 20K and settled because i really liked that house. But with the cash buyer it becomes a bidding situation - and I wasn't gonna win with my w2 earnings against those type of investors :(

epitaph
July 29, 2018, 11:54 PM
IIRC, the argument for renting over owning is if you invest the money you otherwise would put into mortgage, you will/can come out ahead in the end. And ofc mortgage isn't the only expense, you've taxes and maintenance costs.

iDumb
July 30, 2018, 12:01 AM
IIRC, the argument for renting over owning is if you invest the money you otherwise would put into mortgage, you will/can come out ahead in the end. And ofc mortgage isn't the only expense, you've taxes and maintenance costs.

that is a poor argument and doesn't factor in leverage. That is important in market like NYC/California.

If you put in 100K downpayment for a let's say 800k house. The percentage appreciation of the house is on the 800K not your 100k giving you a significan't leverage.

if house prices goes up 3% in one year (which is historically the rate at which it apprecaites annually for some market ). that's 24K apprecaition. But if you invest outside you would need to have 24% appreciation else where to get to that 24K.

That is called leverage and all the calculations never count that.

--

the queens house in my example... the house only doubled in value. But my initiall investment for that house would be 150K or so...I would need to have 500% return to catch up to waht I would have made with the house in 4 years vs only slightly less than 100% gain..

adamnsu
July 30, 2018, 07:56 AM
You do ?


Na ? Tailey eishob azaira advice diyen na.

And you think the conversation in this thread is serious? :D If it was I would be 100% agreeing with you.

epitaph
July 30, 2018, 10:49 AM
that is a poor argument and doesn't factor in leverage. That is important in market like NYC/California.

If you put in 100K downpayment for a let's say 800k house. The percentage appreciation of the house is on the 800K not your 100k giving you a significan't leverage.

if house prices goes up 3% in one year (which is historically the rate at which it apprecaites annually for some market ). that's 24K apprecaition. But if you invest outside you would need to have 24% appreciation else where to get to that 24K.

That is called leverage and all the calculations never count that.

--

the queens house in my example... the house only doubled in value. But my initiall investment for that house would be 150K or so...I would need to have 500% return to catch up to waht I would have made with the house in 4 years vs only slightly less than 100% gain..

I'm not in NYC/California.

3% is the average inflation rate. If your investment grows at 3%, you're not making any money.

Think those calculations are based on national average, not booming real estate places.

If you live in a place where real estate is forever booming and property appreciates at an attractive rate, then it's obviously better to own then rent.

epitaph
July 30, 2018, 10:56 AM
Another idea...

4 hrs from where I am, an area will be gentrified. Instead of buying here, could buy there and hire a property manager to manage it?

Guess you can do this anywhere in the country and doesn't have to be just 4 hrs from here.

epitaph
July 30, 2018, 12:17 PM
that is a poor argument and doesn't factor in leverage. That is important in market like NYC/California.

If you put in 100K downpayment for a let's say 800k house. The percentage appreciation of the house is on the 800K not your 100k giving you a significan't leverage.

if house prices goes up 3% in one year (which is historically the rate at which it apprecaites annually for some market ). that's 24K apprecaition. But if you invest outside you would need to have 24% appreciation else where to get to that 24K.

That is called leverage and all the calculations never count that.

--

the queens house in my example... the house only doubled in value. But my initiall investment for that house would be 150K or so...I would need to have 500% return to catch up to waht I would have made with the house in 4 years vs only slightly less than 100% gain..

After reading this post properly (you could've put all that in one paragraph), it makes even less sense now.

Min down payment is 20%, or are rules diff in NYC?

3% of 700k is 21k, not 24k.

I'm here talking about a 100k condo, and you're mentioning 800k properties lol. 3% of 80k is $2400. Big diff from 24k.

12% is a good return but you could get similar returns with other investments with less risk and without tying up your money monthly.

iDumb
July 30, 2018, 01:04 PM
epitaph i wasn't talking to you or your case. You are just not that smart. You read a lot of nonsense but do very little. You come here open a post and then when someone gives you realistic posts, you want to argue here for no apparent reason, telling us how to differentiate rent vs buy scenario.

Who cares where you live or what amount of property you are looking for. My posts clearly mentioned what market I am talking about.

20% is not the minimum anywhere in USA - the lender dictates that - you can secure loan with even 0%. Educate yourself first or better understand what you read properly then comeback and talk.

Yes I could have written everything I wanted to in one sentence but I didn't. What's the problem with that?

12% is a good return but you could get similar returns with other investments with less risk and without tying up your money monthly.

Like what? another blanket statement. And less risks compared to what?

you are looking for a 100k condo but wasting so much energy over analyzing ... at the end of the day it's only 25 to 30k investment. Do more talk less. Peace!

bujhee kom
July 30, 2018, 01:24 PM
Situation looks grim...I think I would rather check into a Motel 6 tonight.
They have been leaving the light on for me

epitaph
July 30, 2018, 03:11 PM
epitaph i wasn't talking to you or your case. You are just not that smart. You read a lot of nonsense but do very little. You come here open a post and then when someone gives you realistic posts, you want to argue here for no apparent reason, telling us how to differentiate rent vs buy scenario.

Who cares where you live or what amount of property you are looking for. My posts clearly mentioned what market I am talking about.

20% is not the minimum anywhere in USA - the lender dictates that - you can secure loan with even 0%. Educate yourself first or better understand what you read properly then comeback and talk.

Yes I could have written everything I wanted to in one sentence but I didn't. What's the problem with that?



Like what? another blanket statement. And less risks compared to what?

you are looking for a 100k condo but wasting so much energy over analyzing ... at the end of the day it's only 25 to 30k investment. Do more talk less. Peace!

I wasn't arguing, and 800k isn't realistic for most people.

Here we go again.

http://a.espncdn.com/combiner/i?img=%2Fi%2Fcricket%2Fcricinfo%2F1153529_1296x729 .jpg&w=920&h=518&scale=crop&cquality=80&location=origin

iDumb
July 30, 2018, 04:35 PM
I wasn't arguing, and 800k isn't realistic for most people.



you sound like you were arguing without grasping the concept just like previously. This forum is open to many different members. My scenario is realistic for new york city market - thats where I live and that's what I know.

Most major cities around the world have high real estate price. If anything your 100k condo is not realistic for most people here - even in Dhaka decent condos cost way more. And majority of Bangladeshi abroad live in metro/big city area.


I would consider myself lucky that you are living in a low cost of living area where you can buy at that price level and even find readily available renters. No one here can help. It's a matter of plugging in the numbers and just going for it.

if you are not receptive to other posts, don't ask questions. You can just tell us this is what you are doing and we can give input that way if we want to..

Your way of receiving my posts are not good for you given how you are responding. If you gonna go through the insulting route, you shoould be aware, i am waay waay better than you are at that. Don't be a sore loser.

BengaliPagol
July 30, 2018, 09:13 PM
It all depends on your financial situation and the premium between renting and taking a property on mortgage really. Also lets not forget one's personal circumstances and the property market of the area you are buying into

However IMO I would say buy rather than rent if you can afford to. Buying a house with a mortgage is like renting but with a fixed asset at the end for yours to keep.

the way you termed it, it is an asset yes. But it is where you live. You sell it, you got nowhere to live. So it isn't an asset in the more traditional sense of how an asset is termed.

epitaph
July 30, 2018, 09:29 PM
you sound like you were arguing without grasping the concept just like previously. This forum is open to many different members. My scenario is realistic for new york city market - thats where I live and that's what I know.

Most major cities around the world have high real estate price. If anything your 100k condo is not realistic for most people here - even in Dhaka decent condos cost way more. And majority of Bangladeshi abroad live in metro/big city area.


I would consider myself lucky that you are living in a low cost of living area where you can buy at that price level and even find readily available renters. No one here can help. It's a matter of plugging in the numbers and just going for it.

if you are not receptive to other posts, don't ask questions. You can just tell us this is what you are doing and we can give input that way if we want to..

Your way of receiving my posts are not good for you given how you are responding. If you gonna go through the insulting route, you shoould be aware, i am waay waay better than you are at that. Don't be a sore loser.

lmao

https://www.bing.com/th?id=OIP.YCC9QzzftZDZHS4_fe9x4gHaE8&w=240&h=160&c=7&o=5&pid=1.7

adamnsu
July 31, 2018, 04:41 AM
the way you termed it, it is an asset yes. But it is where you live. You sell it, you got nowhere to live. So it isn't an asset in the more traditional sense of how an asset is termed.

I dont understand what you are trying to say TBH. As far as I know an asset is something one owns and has a monetary value. If this isnt a traditional sense, could you please give me one so I can understand what you are really trying to get at?

It would be illogical if you sell a house without not making sure you dont have another house to live in?

BengaliPagol
July 31, 2018, 05:24 AM
I dont understand what you are trying to say TBH. As far as I know an asset is something one owns and has a monetary value. If this isnt a traditional sense, could you please give me one so I can understand what you are really trying to get at?

It would be illogical if you sell a house without not making sure you dont have another house to live in?

I'm speaking from the pov that a person doesn't have a house yet but is looking to either rent or buy one. People on this thread are talking from the perspective that buying is better cos at least you have an "asset".

But that is a wrong way to look at it because you are essentially living in the so called "asset" and people think "oh yeah If things go bad at least my house is an asset and I can sell and make money". And in also other circumstances when the price at which the person bought the house was low and they're living in the house and they know that the value of their house is now a lot, people also think "yeah imma make heaps of profit from selling my house", neglecting the fact that if they sell their house i.e. asset they wont have a place to live and they may think that "i can just buy another cheaper house" but then all the houses prices around their area would have also increased as well.

Therefore thinking a house as an "asset" which you live in, is not exactly the same as other types of assets such as shares where your day to day life and livelihood is not affected by you buying and selling shares.

adamnsu
July 31, 2018, 06:27 AM
Sorry but I still cant see your point here.

"I'm speaking from the pov that a person doesn't have a house yet but is looking to either rent or buy one. People on this thread are talking from the perspective that buying is better cos at least you have an "asset". Once you own something it becomes an asset from an accounting point of view.

But that is a wrong way to look at it because you are essentially living in the so called "asset" and people think "oh yeah If things go bad at least my house is an asset and I can sell and make money". And in also other circumstances when the price at which the person bought the house was low and they're living in the house and they know that the value of their house is now a lot, people also think "yeah imma make heaps of profit from selling my house", neglecting the fact that if they sell their house i.e. asset they wont have a place to live and they may think that "i can just buy another cheaper house" but then all the houses prices around their area would have also increased as well.


Based on this I can tell you didnt properly read what I wrote about the advantage of buying a property than renting, but also highlighted the variables involved.

Therefore thinking a house as an "asset" which you live in, is not exactly the same as other types of assets such as shares where your day to day life and livelihood is not affected by you buying and selling shares.


There are different kinds of assets as far as I am aware the house and stocks and share are clearly not the same type. You are comparing oranges and apples based on this statement so cant see how your logic applies. Yes I agree both are different types of assets but thats not the point of the discussion in here.

G-man
July 31, 2018, 07:03 AM
An Asset is something that has "positive economic value" (general academic definition). A house/home has an intrinsic value to it right- you can house yourself/family- derive stream utility from it (strictly economic sense) and you can do indefinitely.

the question after that becomes purely monetary because owning V renting, you're deriving the same utility from the house (maybe security is the only drawback of renting?)

If you buy:

although the property itself is an asset, the loan you acquire is a LIABILITY. the loan is an Asset to the bank, liability to you!

if the mark to market price (the price it would sell for) of the property is less than total value of the loan- then your liabilities > Assets and that means you are in the red.

in terms of valuations, a fair value purchase means the price is not more than 3 or 4 times your take home yearly pay. Apart from the monetary box ticked, if the house ticks all other boxes- schools, work etc etc then it makes great compelling sense to buy. in bubble markets, these valuations can go amazingly high.

housing ownership is largely an illusion in some sense - Satyajit Das has some good commentary on this.

I would always favour renting because the maths just favoured renting.

People take a simplistic approach to buying property- its engrained. I buy a house for 1mil, sell it for 1.5 in 10 years. 50% gain in 10 years is about just over 5% compouned annually. 3% is inflation- 2 gain, factor in costs of buying/selling/interest etc and you are in the red. you sell the house and what buy a house for 1.5 mil? then you really haven't gained anything.

I can go on and on, but the risks of owning are gravely understated and the maths barely understood.

mufi_02
July 31, 2018, 08:16 AM
I don't think in terms of making a profit. I want to build equity and by the time I am 55-60, I would be done paying off the mortgage and then don't need to pay any rent/mortgage during retirement. Think about in that perspective. You don't want to reach your retirement age and still keep on paying rent indefinitely.

Fazal
July 31, 2018, 08:54 AM
Situation looks grim...I think I would rather check into a Motel 6 tonight.


Do they pillow or we need to bring our own pillow?

iDumb
July 31, 2018, 10:04 AM
I don't think in terms of making a profit. I want to build equity and by the time I am 55-60, I would be done paying off the mortgage and then don't need to pay any rent/mortgage during retirement. Think about in that perspective. You don't want to reach your retirement age and still keep on paying rent indefinitely.

this! I see a trend. The dumbasses in this forum who think they know a lot but lack experience think renting is better. Owning properties are one of the hallmark of wealth creation.

All these calculations only work theory..the fact is most ppl aren't disciplined and lucky enough to invest the assumed savings from renting elsewhere every month and then yielding good return.

having a mortgage does two things:
1. Forces you to save/build equity (by paying down mortgage)
2. Hedge against inflation (with fixed monthly payment, as time goes by - everything around u including rent cost more while ur payment stays same) making your cost of living lower as time passes by.


I buy a house for 1mil, sell it for 1.5 in 10 years. 50% gain in 10 years

:facepalm: you are very unlikely to make a loss if you live in one hosue for 10 years. Usually the argument you put forth has validity if you need to sell or relocated in 3 or 4 years time...you haven't accounted for 10 years of rent money that you payed down the mortgage with. That's 1/3 of payment for a 30 year mortgage or 2/3 for a 15 years one.

Also read my earlier post on leverage. 1 million house price doesn't mean you have invested 1 million dollars. You probably invested 200K. So your rate of return on your "investment" is much much higher. In a low interest rate setting, there is no reason not to be a buyer really.

I do however realize my thinking maybe a bit biased due to the high demand real estate market that i live in. There are places where real estate prices will be stagnant or even drop or you will have hard time selling or renting.. but I wouldn't live in those places.. just not my style.

G-man
July 31, 2018, 04:47 PM
Yeah maths only works in theory.

DinRaat.
July 31, 2018, 04:59 PM
Yeah maths only works in theory.

Debatable.

Yankees
July 31, 2018, 05:07 PM
I don't think in terms of making a profit. I want to build equity and by the time I am 55-60, I would be done paying off the mortgage and then don't need to pay any rent/mortgage during retirement. Think about in that perspective. You don't want to reach your retirement age and still keep on paying rent indefinitely.

mortgage isn't the only cost. You have to consider property taxes, insurance, utilities, water, and the cost of upkeep, which as your house gets older could significantly cost you money and time.

By age 60, hopefully your kids are out the house, in which case I would rather downsize to a small apartment, pay rent, and enjoy what lttle time i have left on earth.

iDumb
July 31, 2018, 05:15 PM
Yeah maths only works in theory.

Except you aren’t good at it .

G-man
July 31, 2018, 05:59 PM
Except you aren’t good at it .

yeah says the guy that couldn't calc 3% of 80k.

G-man
July 31, 2018, 06:00 PM
Debatable.

/sarc mate

DinRaat.
July 31, 2018, 06:50 PM
/sarc mate

Apologies didn't catch it.

bujhee kom
July 31, 2018, 07:22 PM
Do they pillow or we need to bring our own pillow?

Accha uncle, what do you think of living in a mobile home, not Winnebago or those expansive kinds...I mean just trailer park trailers...if I bring my own trailer, but I don't own the land, would that be considered owing or renting or 50/50 or both?

Fazal mamu, what do you think of living in a commune, like in a hippie commune, let's say in and around Vagginia beach area. No rent, no own...just living and sharing?!?
Or even in a nudist community...no clothes, no house, no rent...forever summer, chasing butterflies, running through meadows full of Daffodils, occasionally grow mushroom and eat!

BengaliPagol
July 31, 2018, 09:29 PM
yeah says the guy that couldn't calc 3% of 80k.

hahahaaha oh man keep em coming !!!!

Tausif
July 31, 2018, 09:30 PM
Thelagari or rickshaw van?

iDumb
July 31, 2018, 09:48 PM
yeah says the guy that couldn't calc 3% of 80k.

dont be a dumbass and confuse my posts with your other tiny but equally idiotic friend here. Go through the posts again.

the guy who invests pennies (even with virtual coins) but talk millions in the forum...

u keep renting ur dump ok

iDumb
July 31, 2018, 09:51 PM
hahahaaha oh man keep em coming !!!!

so making up random statement is way to go huh?

G man... that G suppsed to stand for money but the guy is expert at losing it...and has a risk tolerance of a 90 year old retired rickshawpuller.

G-man
July 31, 2018, 10:45 PM
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G-man
July 31, 2018, 10:45 PM
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G-man
July 31, 2018, 11:06 PM
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DinRaat.
July 31, 2018, 11:14 PM
Obviously IDumb has never used this before

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Jadukor
August 1, 2018, 12:27 AM
I'm speaking from the pov that a person doesn't have a house yet but is looking to either rent or buy one. People on this thread are talking from the perspective that buying is better cos at least you have an "asset".

But that is a wrong way to look at it because you are essentially living in the so called "asset" and people think "oh yeah If things go bad at least my house is an asset and I can sell and make money". And in also other circumstances when the price at which the person bought the house was low and they're living in the house and they know that the value of their house is now a lot, people also think "yeah imma make heaps of profit from selling my house", neglecting the fact that if they sell their house i.e. asset they wont have a place to live and they may think that "i can just buy another cheaper house" but then all the houses prices around their area would have also increased as well.

Therefore thinking a house as an "asset" which you live in, is not exactly the same as other types of assets such as shares where your day to day life and livelihood is not affected by you buying and selling shares.
Think of it this way, if you continue to rent till you retire and lets say you dont have sufficient pension then you will have to find that money to rent a place until you die which could be for another 20 years. For most people the safer alternative is to move into their own house or apartment so that after retirement all you need to worry about is your living expenses. Plus land prices will continue to appreciate while you work towards it so if you buy the house knowing where the next city center is going to be then you will be able to sell the place and happily move to a cheaper and quiet neighborhood. Now if you are really disciplined and forward thinking, you could srart saving now for retirement and actually have enough money to rent a house as well as cover your living expenses for 20 years post retirement, but most of us arent that good and tend to blow our excess income on useless things. So for those folks forcing yourself into a mortgage situation actually forces you to keep that money aside and turn it into an asset which might have otherwise gone into a holiday trip to NZ or gadgets or UHD tvs etc.

BengaliPagol
August 1, 2018, 01:06 AM
https://i.imgflip.com/2f2gpo.jpg (https://imgflip.com/i/2f2gpo)

hahaha you must be enjoying yourself at work

BengaliPagol
August 1, 2018, 01:07 AM
Think of it this way, if you continue to rent till you retire and lets say you dont have sufficient pension then you will have to find that money to rent a place until you die which could be for another 20 years. For most people the safer alternative is to move into their own house or apartment so that after retirement all you need to worry about is your living expenses. Plus land prices will continue to appreciate while you work towards it so if you buy the house knowing where the next city center is going to be then you will be able to sell the place and happily move to a cheaper and quiet neighborhood. Now if you are really disciplined and forward thinking, you could srart saving now for retirement and actually have enough money to rent a house as well as cover your living expenses for 20 years post retirement, but most of us arent that good and tend to blow our excess income on useless things. So for those folks forcing yourself into a mortgage situation actually forces you to keep that money aside and turn it into an asset which might have otherwise gone into a holiday trip to NZ or gadgets or UHD tvs etc.

thinking this much for my future and retirement makes me super depressed.

DinRaat.
August 1, 2018, 01:19 AM
thinking this much for my future and retirement makes me super depressed.

Ditto.

I don't want my youth to be spent on saving money in order to retire and buy a house. I want to avoid the midlife crisis like some BCites on here.

adamnsu
August 1, 2018, 01:54 AM
Some of you guys need to get a room...wether to buy or rent it is up to both the partners to decide 😁

Jadukor
August 1, 2018, 01:55 AM
For some of you guys it is definitrly not the time to think about these things. Just enjoy life.

Yankees
August 1, 2018, 02:29 AM
Ditto.

I don't want my youth to be spent on saving money in order to retire and buy a house. I want to avoid the midlife crisis like some BCites on here.

wait till you have the 1/4 life crisis. It will either make you double down on your dreams or make you question why you even bother getting up in the morning.

iDumb
August 1, 2018, 06:41 AM
For some of you guys it is definitrly not the time to think about these things. Just enjoy life.

err no. members in this thread are not 5 they are well in their 20s and 30s.
There are 20 years old who are doing so much more. It's the wording of "retirment" that's sticks out and is wrong. Owing properties has nothing to do with retirement - more to do with wealth creation.

iDumb
August 1, 2018, 06:43 AM
Some of you guys need to get a room...wether to buy or rent it is up to both the partners to decide 😁

Again NO NO NO. wrong thinking. If you own properties before you have a partner - your partner will look prettier and prettier with gain of each property.

iDumb
August 1, 2018, 06:52 AM
you must be enjoying yourself at work

yeah carrying coffee for others does tend to get boring.

mufi_02
August 1, 2018, 01:48 PM
mortgage isn't the only cost. You have to consider property taxes, insurance, utilities, water, and the cost of upkeep, which as your house gets older could significantly cost you money and time.

By age 60, hopefully your kids are out the house, in which case I would rather downsize to a small apartment, pay rent, and enjoy what lttle time i have left on earth.

you will find it hard to move from your home and go to a small apt. for emotional reasons.

I am planning to kick them out once they reach 18. But they don't listen to me already so don't think how they will behave then. I will go back to BD and watch cricket all day. Kids are already spoiled and so I gave up on them.

Yankees
August 1, 2018, 02:47 PM
you will find it hard to move from your home and go to a small apt. for emotional reasons.

I am planning to kick them out once they reach 18. But they don't listen to me already so don't think how they will behave then. I will go back to BD and watch cricket all day. Kids are already spoiled and so I gave up on them.

How old are your kids? I don't have any, nor do I want any atm. I will reevaluate in 5 years. But yea, Kick them out and treat them like adults. Coddled adults living on parents dime are the worst.

DinRaat.
August 1, 2018, 08:40 PM
you will find it hard to move from your home and go to a small apt. for emotional reasons.

I am planning to kick them out once they reach 18. But they don't listen to me already so don't think how they will behave then. I will go back to BD and watch cricket all day. Kids are already spoiled and so I gave up on them.

Damn, I don't want this to happen to me.

Jadukor
August 1, 2018, 10:01 PM
err no. members in this thread are not 5 they are well in their 20s and 30s.
There are 20 years old who are doing so much more. It's the wording of "retirment" that's sticks out and is wrong. Owing properties has nothing to do with retirement - more to do with wealth creation.

I think the conversation is interesting when you draw from your own life experiences rather than point to other successful 20-year-olds, tech billionaires, and facebook interns. As I have said to you before tell me what you have done in your 20s and then we can have a genuine exchange until then just trust that other people can google the Amazon CEO or Mark Zuckerberg's life story too to know what is achievable.

Anyways my point was (again from my personal experience as I am older) if you are studying, living with your parents and single then save up and travel around, experience different cultures and food. The knowledge you gather will help you set your priorities perhaps which region in the world you want to work and settle in also. If you don't travel then you are a frog stuck in a well thinking that the dark confined space is the entire universe.

zman
August 1, 2018, 11:24 PM
Generally I stay away from these arguments; since folks decided to bring out the big guns to do this simple math, scientific calculators in this case :D, I had to point out the obvious

If you put in 100K downpayment for a let's say 800k house. The percentage appreciation of the house is on the 800K not your 100k giving you a significan't leverage.

if house prices goes up 3% in one year (which is historically the rate at which it apprecaites annually for some market ). that's 24K apprecaition. But if you invest outside you would need to have 24% appreciation else where to get to that 24K.

I don't see anything wrong in the above argument and I'm referring to this part of the claim alone. If house price goes up 3% why would it gain only on 700k and not 800k? The gain is 3k on the 100k down payment and 21k on 700k loan. The total gain is 3k+21k = 24k.

adamnsu
August 2, 2018, 01:53 AM
In UK before you buy a house and if you are in your 20s get life insurance policy. This helps with the mortgage application.

iDumb
August 2, 2018, 07:50 AM
I think the conversation is interesting when you draw from your own life experiences rather than point to other successful 20-year-olds, tech billionaires, and facebook interns. As I have said to you before tell me what you have done in your 20s and then we can have a genuine exchange until then just trust that other people can google the Amazon CEO or Mark Zuckerberg's life story too to know what is achievable.

Anyways my point was (again from my personal experience as I am older) if you are studying, living with your parents and single then save up and travel around, experience different cultures and food. The knowledge you gather will help you set your priorities perhaps which region in the world you want to work and settle in also. If you don't travel then you are a frog stuck in a well thinking that the dark confined space is the entire universe.

You are going way off topic. Where did I bring amazon ceo or zuckerberg?? we are simply talking about purchasing properties. We are talking about financial education. 20 year old should be aware of it. yes experienceing world is all great but it doesn't take multiple years... you can take a year of break and be done with that check list... End of the day money is a one of the most important factor in how well you live your life. if you don't have enough money, it's not 20s, your whole life will be in a dark confined space.

I think i have been participating in this forum since early teen...and i gave away a lot of infos througout the years. I was ready to purchase 700K plus house in my 20s or atleast the bank thought I was capable. Don't assume too much. Why would I talk about zuckerberg or bezos in this context? and i regret not going through it beacause i played too safe (what if i lose my job i am brand new,, what if something breaks down, what if that happens)

my point was that when you tell a 20 something year old about retirement, they wont take you seriously because it's hard for them to grasp 40 years from now living... but if you talk to them about financial independence then they may give you ears.

There is a trend if you actually read my posts on finance... too many 20 or 30 year old pu$$$&.. ..ppl don't take enough risks... this age is not the time to play safe... it's time to take as much reasonalbe risks as possible....

you have ppl like G -man here advising on purchasing treasury bonds.. ridiculous.

iDumb
August 2, 2018, 07:54 AM
I don't see anything wrong in the above argument and I'm referring to this part of the claim alone. If house price goes up 3% why would it gain only on 700k and not 800k?

bhai, thank you for taking the effort to post this. LOL. I am always in troll mode but even I sometimes don't think some posts do not warrant a response because it's just so DUMB.

We are not really arguing with cream of the crop here.

iDumb
August 2, 2018, 08:21 AM
How old are your kids? I don't have any, nor do I want any atm. I will reevaluate in 5 years. But yea, Kick them out and treat them like adults. Coddled adults living on parents dime are the worst.

you don't have kids yet you are giving some guy online you have no clue whatsoever about advice on kids. Sounds about right.

G-man
August 2, 2018, 04:44 PM
you have ppl like G -man here advising on purchasing treasury bonds.. ridiculous.

I never said buy bonds. I'm short bonds.

Don't expect you to understand, not exactly the cream of the crop, just a liar

bujhee kom
August 2, 2018, 05:03 PM
helloo bahis, so what is the verdict?
Kinbo naa bechbo?

BTW what do you guys think of RAJUK onumodito ebong boraddokrito Plot?
Then getting the design plan passed by the State Dept. (of RajUK, not the U.S. State Dept.)
Then build a 7 stories commercial building on a 2 stories residential approved + zoning regulation area. And with a single story foundation.
Then sell it to 7 of you BC bhaiyas an apus for Saudi CASH!!

BTW guys, do anyone of you know anyone at RajUK State dept.?
Or at the Purto Montronaloy? That is the ministry of Public Works. Either RajUk or Works Ministry will do for me. If you can get me a legit, reliable, proven and No Friction Action connection, I will send you overnight commission, within 18 hours, in 100% untraceable CAsh, almost anywhere in the world.

Yankees
August 2, 2018, 08:14 PM
you don't have kids yet you are giving some guy online you have no clue whatsoever about advice on kids. Sounds about right.

going by that logic, why don't you take your own advice and stfu and stay out of it little man?

Better yet, consult with your doctor to see if viagra is right for you. Your frustration is evident and gross.

Jadukor
August 3, 2018, 02:49 AM
There is a trend if you actually read my posts on finance... too many 20 or 30 year old pu$$$&.. ..ppl don't take enough risks... this age is not the time to play safe... it's time to take as much reasonalbe risks as possible....

This is precisely what I was aiming at. This is your point of view. To take risks at an early age and reap the rewards later in life rather than playing conservative. Even though in the end, you didn't buy the 700k house but I am assuming you are encouraging others to take the risk that you didn't, perhaps out of goodwill. But here is the thing though, I have a different point of view to yours, a different prescription to life and consequently, my advice to BengaliPagol is also different. Unlike you, I have actually lived my life in the way I am advising others on. I am not advising Din Raat to aim for 100k entry level internships because I worked my *** off as an intern without pay. Whether I am just another brown guy who has underachieved in life or whether my way is the right way to live or not is a different conversation but the whole point of drawing from your own life experiences is to assure whoever is listening that it comes from a genuine place.

Jadukor
August 3, 2018, 02:54 AM
going by that logic, why don't you take your own advice and stfu and stay out of it little man?

Better yet, consult with your doctor to see if viagra is right for you. Your frustration is evident and gross.
Let's not make this thread into a penis measuring contest between you, idumb and G-man. We are all adults here so let us rise to the occasion and take the responsibility ourselves to act more mature.

iDumb
August 3, 2018, 07:47 AM
To take risks at an early age and reap the rewards later in life rather than playing conservative. Even though in the end, you didn't buy the 700k house but I am assuming you are encouraging others to take the risk that you didn't, perhaps out of goodwill.

I have actually lived my life in the way I am advising others on. I am not advising Din Raat to aim for 100k entry level internships because I worked my *** off as an intern without pay.

Again you are assuming a lot based on my one lack of purchase. I make mistakes and that was mine at that time though I probably would have bought it if the house price was less. I am not telling anyone to go buy high price properties that they can barely afford. I am telling ppl to simply buy. These are important distinctions.

High risk is not equal to wreckless. I am significantly invested .. 100% stocks - no financial pundits advise that. But I am and that's why I also preach. I don't want to throw in numbers but it's very hard to be convincing when I get replies like yours with a lot and lot of assumptions.

Again you are advising free internship because you went through it probably because you had hard time finding a paid one and you just like most like assuming everyone else will be in similar boat to you..... I am advising against that because I never worked for free and I too also worked hard to enjoy my current amazing income potential.

Working in a compnay like facebook is not all that you are making it out to be really. It's a very simple internship. and you can revisit the thread where i started posting because ppl write a lot of nonsense...such as making 300K is impossible and only ceo makes that and there are 1 per company. These type of sentences look laughable simply because its just not true.

iDumb
August 3, 2018, 07:53 AM
I am very genuine Jadukor. I really dont' understand your posts. Yes we view things differently but does not make mine any less genuine than yours. In fact mine is better view than yours becuase you end up with more money

mufi_02
August 3, 2018, 08:09 AM
be aware of homeowner's associate (HOA) / condo fees. I recently found a place a zillow and the asking price seemed quite reasonable for the location. I called the realtor only to be informed that HOA fee is $400/month. I decided not to proceed.

these fees are not listed in your typical site.

bujhee kom
August 3, 2018, 08:57 AM
I get the point of the point/theme of the thread.
But as many of cannot buy, thus we rent - my advice to all of you bhais and apus, watch out on those slum-lords! Salaa-ra ek number Boodmais...koob boodmais! Koob Sabdhaan!

Yankees
August 3, 2018, 09:22 AM
Let's not make this thread into a penis measuring contest between you, idumb and G-man. We are all adults here so let us rise to the occasion and take the responsibility ourselves to act more mature.

hah I see what you did there. Easier for some then others, evidently.

Yankees
August 3, 2018, 09:31 AM
Working in a compnay like facebook is not all that you are making it out to be really. It's a very simple internship. and you can revisit the thread where i started posting because ppl write a lot of nonsense...such as making 300K is impossible and only ceo makes that and there are 1 per company. These type of sentences look laughable simply because its just not true.

Nobody said "only ceos make 300k." This is why you are such an annoying poster, because you have very little to argue, so you make up complete BS. This facebook topic has been discussed to death (months ago). Everyone has come to a consensus, except you because you refuse to admit when your wrong, and would rather double down on your asinine points. Even a donkey would get the point by now.

Jadukor
August 3, 2018, 09:49 AM
I am very genuine Jadukor. I really dont' understand your posts. Yes we view things differently but does not make mine any less genuine than yours. In fact mine is better view than yours becuase you end up with more money
The reason why we are having this conversation is because you approach every issue with "my opinion is better than yours" attitude and end up arguing and throwing insults at the end. You have been here for so long but this aspect of you has not changed and seems to have gone worse. This is the fundamental difference between you and me. I wrote my post about my own experiences and the intended audience was never you. But here I am dragged into this conversation.

Also, you talk about not making assumptions but in the same freakin post you assume I don't have more money than you and that I did a non-paid internship because I could not get a paid one. Once again at this point in writing this post, i wonder why do I even.....

bujhee kom
August 3, 2018, 11:28 AM
Arrey bahis, Some Bharatias are also khoob Boodmais...Bhara dei naa! Maas-er por Maas bhara baki poira gechey! Kuno Khubor nai! For these kinds of baharatias, I have to maintain Mastaans!

iDumb
August 3, 2018, 03:18 PM
The reason why we are having this conversation is because you approach every issue with "my opinion is better than yours" attitude and end up arguing and throwing insults at the end.

Why wouldn't I think my opinion is better? That's why we have forum, you can show me otherwise.


Also, you talk about not making assumptions but in the same freakin post you assume I don't have more money than you and that I did a non-paid internship because I could not get a paid one. Once again at this point in writing this post, i wonder why do I even.....
ok let's be a bit mature here. i realize that my posts are coming out wrong or it is perceived wrong. I would never argue with anyone about who has more money - that is not my style. We all come from all walks of life and have different sets of skills. My father was a minimum wage worker.

My posts are always about figuring out the right approach to investing. Most of my friends make more money than me yet i still often tell them what to do. They don't usually reply back with "what the f did you do or I got more than you"?.. they are very receptive and realize there is merit to what I am saying.

Purchasing, saving, investing can be had for any income level. It is often replies like "preach what you do" that often make things more personal than it is necessary.

I have no idea about your finances. Probably you are a multi millionaire. I don't know and I dont' assume otherwise. For this thread, you and I are actually on the same boat. You made profit buying and selling a property. I didn't and I said it was my mistake. When I said my approach gives you more money - it gives you more money.

Paid internship gives you more money than free one
Working at big technology and up and coming new innovative companies give you more money and more opportunities than your typical well established firm (like power company). these are facts. It has nothing to do with me or you.

You probably have a lot of money now because you saved, you invested and it paid off. It is not because you took a free internship. In fact i think you are NOT preaching what you are doing. you can make more money establishing yourself financially in a way that doesn't require you to be slave to your job. You did one of those move by buying and selling a property. Financial independence has always been my theme even though I am not financially independent.

I don't have to live through a disease to know how it would manifest itself or how it will progress as an example. That would be a terrible thing. Similarly I don't have to go through something to come up with a decent approach to investing. I don't know anyone who ever told me they said i wish i invested later in life. it's always I wish i did it earlier.


this is my message: using scientific calculator, if the numbers look ok, Go for buying the property (hopefully it's first of many), and worry less about losing money in 20s and 30s. It's not end of the world. and your goal is not worry free retirement at 65. your goal is financial independence meaning you will survive and thrive even if you don't have a full time job.

^if anyone disagree to the above statement of encouragement, let me know why or how your approach be different.

iDumb
August 3, 2018, 03:23 PM
the key to owning multiple properties is to buy 1 first - idumb

iDumb
August 3, 2018, 03:28 PM
Nobody said "only ceos make 300k." This is why you are such an annoying poster, because you have very little to argue, so you make up complete BS. This facebook topic has been discussed to death (months ago). Everyone has come to a consensus, except you because you refuse to admit when your wrong, and would rather double down on your asinine points. Even a donkey would get the point by now.

No. Only donkeys such as yourself think making 300K is almost impossible. Because well they are donkeys with donkey brain.

And donkeys or is it sheep that tend to agree with each other.

Yankees
August 3, 2018, 06:58 PM
No. Only donkeys such as yourself think making 300K is almost impossible. Because well they are donkeys with donkey brain.

And donkeys or is it sheep that tend to agree with each other.

hahaha you are such a delusional git. If you can prove to me that I said "300k is almost impossible," then I will proclaim you the second coming of Warren Buffet. Heck, we all will. We will give you the validation you so badly desire and lack in your pathetic life.

Go ahead, I will wait little man. Put up or shut up.

Jadukor
August 3, 2018, 07:18 PM
Why wouldn't I think my opinion is better? That's why we have forum, you can show me otherwise. There is also the possibility where both of our opinion is valid due to our unique individual set of circumstances in life. There is no one-size-fits-all to life, not everyone is driven by money and making millions, and there is no shortcut to experience and maturity which most times helps you to avoid making terrible decisions/investments.

ok let's be a bit mature here. i realize that my posts are coming out wrong or it is perceived wrong. Thank you for at least being open to this idea

My posts are always about figuring out the right approach to investing. Most of my friends make more money than me yet i still often tell them what to do. They don't usually reply back with "what the f did you do or I got more than you"?.. they are very receptive and realize there is merit to what I am saying. You friends are more understanding and receptive because they are your friends. You need to have a certain level of trust and build a certain level of respect before you use that approach randomly in a forum. If I was investing in stocks and you said those are dumb choices and suggested different options, I would not feel insulted and take you seriously. Why? because it is not my area of expertise.

Paid internship gives you more money than free one
Working at big technology and up and coming new innovative companies give you more money and more opportunities than your typical well established firm (like power company). these are facts. It has nothing to do with me or you. I chose to do an unpaid internship at the UN because I wanted to work in the nonprofit/development field. I did not get paid but gained valuable experience in a truly multicultural international setting and it helped me set my goals in the final year of my bachelor's degree to work for this organization. I then went on to do my masters and I did land myself the job I wanted after. Now I also had opportunities as a paid intern but I simply wasn't interested in that career path and fortunately, my mom and dad through their sacrifices had enough money saved for me to not worry while I was studying and allowed me to take my time to set my goals. For me, the unpaid internship was a good investment.


this is my message: using scientific calculator, if the numbers look ok, Go for buying the property (hopefully it's first of many), and worry less about losing money in 20s and 30s. It's not end of the world. and your goal is not worry free retirement at 65. your goal is financial independence meaning you will survive and thrive even if you don't have a full time job.
Individual circumstances are different. You can make more bad decisions when you do not have the maturity and the understanding of how the world works. You can play like a Sehwag but you can also play like Tendulkar which is to set yourself up and cash in later.

zman
August 3, 2018, 10:32 PM
be aware of homeowner's associate (HOA) / condo fees. I recently found a place a zillow and the asking price seemed quite reasonable for the location. I called the realtor only to be informed that HOA fee is $400/month. I decided not to proceed.

these fees are not listed in your typical site.
ziprealty and redfin are much more accurate than zillow

zman
August 3, 2018, 10:39 PM
the key to owning multiple properties is to buy 1 first - idumb
I agree with many of your investment strategies. I don't understand what is stopping you from buying your 1st property :lol:
If you think 4k/month is too high buy one for 2k/month just to lock in low interest rates and get tax benefits. There's a big difference in interest rates for primary residence and investment property. If you own only one property you can always claim it as primary residence whether you live there or not.

Yankees
August 6, 2018, 03:05 AM
No. Only donkeys such as yourself think making 300K is almost impossible. Because well they are donkeys with donkey brain.

And donkeys or is it sheep that tend to agree with each other.


hahaha you are such a delusional git. If you can prove to me that I said "300k is almost impossible," then I will proclaim you the second coming of Warren Buffet. Heck, we all will. We will give you the validation you so badly desire and lack in your pathetic life.

Go ahead, I will wait little man. Put up or shut up.

I'm still waiting, little man. And it looks like I'll be kept waiting.

This is the thing about idumbs verbal diarrhea -- it flows non-stop and straight out the a$$, but the moment you ask him to back it up, you won't hear a peep. Instead what you'll get a passive aggressive post days later on another thread. Pathetic and shameless.

iDumb
August 6, 2018, 01:40 PM
I'm still waiting, little man. And it looks like I'll be kept waiting.


I like to keep my engagement with less informed and uninteresting ppl as minimum as possible. Same reason I didn't reply to the stellar math problem. There is a whole thread discussing your CEO making 300K salary and why Din raat will never earn that money. Your lack of knowledge on this subject matter has been exposed and there is no reason for me to engage with you any further regarding that here because you simply lack the knowledge or the experience.... Go back to that thread and re read everything. It's all there with lots and lots of data I provided via links.

300k is a struggling salary depending on where you live, if you had the experience you would know that. But to you that's an impossible salary and a CEO level one.. LMAO!!

iDumb
August 6, 2018, 01:56 PM
I agree with many of your investment strategies. I don't understand what is stopping you from buying your 1st property :lol:
If you think 4k/month is too high buy one for 2k/month just to lock in low interest rates and get tax benefits.

that is a very good point and I agree with you. I should realistically be looking for my 2nd or 3rd right now. There are many factors that play in purchasing a house beside just money. Personal non monetary issues. Something like that prevented me.

FI would be very realistic for me if i did purchase that time like you said. Right timing by luck plays a major role in life.

ppl graduate from college at age 21 if u don't waste any time... from 21 to 30.. a time almost a decade.. you can do some serious damage (in a good way) to your finances....i probably did 25% of it unfortunately (due to many factors not lack of knowledge or will).... and that equated to better than maybe 85% of ppl...

Most ppl play safe.. or don't play at all.. so most ppl are normal regular folks.... if you want to be not like most ppl.... you gotta take risks and risk to lose and be broke at 30... what's the worse that's gonna happen? u not gonna get a pretty wife? Big deal.

Yankees
August 6, 2018, 02:30 PM
I like to keep my engagement with less informed and uninteresting ppl as minimum as possible. Same reason I didn't reply to the stellar math problem. There is a whole thread discussing your CEO making 300K salary and why Din raat will never earn that money. Your lack of knowledge on this subject matter has been exposed and there is no reason for me to engage with you any further regarding that here because you simply lack the knowledge or the experience.... Go back to that thread and re read everything. It's all there with lots and lots of data I provided via links.

300k is a struggling salary depending on where you live, if you had the experience you would know that. But to you that's an impossible salary and a CEO level one.. LMAO!!

I fully remember that discussion. And again, I dare you to show me that I said 300k is impossible. Instead of repeating the same one-liners, why don't you put up or shut up little one.

iDumb
August 6, 2018, 02:51 PM
I fully remember that discussion. And again, I dare you to show me that I said 300k is impossible. Instead of repeating the same one-liners, why don't you put up or shut up little one.

it's ok don't get mad. We all know 300k is impossible for you :) and the comment is equally understandble because people look through the world through their own life lens and limited expeirence :lol:

Yankees
August 6, 2018, 02:51 PM
In fact, I'll go one further. Here's the thread. Go ahead and show me where I said "300k is impossible and only CEOs make it":

http://www.banglacricket.com/alochona/showthread.php?t=49364

You're nothing more than a 40 year old manlet railing against the world. BC is a release for you to let out your pent up frustration. I bet you were bullied in school and girls never paid any attention. So you think money = self esteem = girls. It's no wonder you constantly bring up having money for a "pretty wife" and accusing others (me, Jadukor, gmen) of not making any.

Yankees
August 6, 2018, 02:58 PM
it's ok don't get mad. We all know 300k is impossible for you :) and the comment is equally understandble because people look through the world through their own life lens and limited expeirence :lol:

Backtracking won't help little one. I'm giving you a golden opportunity to prove that you're not full of constipated bull. Should be easy enough, no?

iDumb
August 6, 2018, 11:10 PM
You're nothing more than a 40 year old manlet

hahaha. Manlet. I gotta give it to you. You may not make any money for a 30 year old but you do know all the terms for a short man. Bravo!! :applause:

I also like your wishful thinking. If you gonna wish for something.. wish for a higher salary for yourself. Dont' wish for some random guy on the net to be old and short.

Yankees
August 7, 2018, 12:48 AM
hahaha. Manlet. I gotta give it to you. You may not make any money for a 30 year old but you do know all the terms for a short man. Bravo!! :applause:

I also like your wishful thinking. If you gonna wish for something.. wish for a higher salary for yourself. Dont' wish for some random guy on the net to be old and short.

Manlet isn't that funny, so quit backtracking. Besides, nothing wishful about you not being short or approaching 40. Dont put up a fake front idumb, people know who you are in this forum.

Anyways this is ridiculous. I'm asking you again to show me proof where I said 300k is impossible. You've got not credibility in this forum and I'm giving you a chance to back up that fat mouth of yours for once. Repeating the same one-liners isn't going to convince anyone otherwise you sycophantic git.

Yankees
August 8, 2018, 12:54 AM
I guess it's put up or shut up then. The manlet retreats, prowling the forum to annoy once more.

Tigers_eye
August 15, 2018, 01:20 PM
Didn't we had a similar discussion on "buy" or "lease"?


+++
For what its worth, "BUY". :)

Yankees
August 16, 2018, 11:03 AM
Are condos ever worth it? I dont think so. Any condo owners here?

Yankees
August 18, 2018, 10:52 PM
After checking out several open houses and setting up appointments on and off for the last 2-3 months, I'm ready to give up on real estate in NYC. Considering looking elsewhere like Philly.

iDumb
August 19, 2018, 12:58 AM
yes it's hard to buy nyc real estate when 300k annual salary is not a possibility :)

One need minimum of 100k just to barely survive here (without any govt help)...

300k + to afford some **** hole in outerborrows (excluding brooklyn). Otherwise this income level ppl keep renting in brooklyn

Next income level at which some struggle not felt would be in 500k annum .. where u will feel u are doing not bad and can break into some old money strong hold.

a million yearly to feel u are doing well in this city.

this is the reality eventhough numbers may sound not believable to outsiders...

san francisco i hear is even worse ..

---

Three types of ppl are doing ok
1. those with Extensive govt help (but again no body normal would want to be in this group)
2. those who are property owners from multidecades... when things were affordable. they are living off of those now
3. those making money that many think are not possible but is infact are quiet norm... they are barely breaking in.

i have a colleague (yes young) whose household income is in 700k annually doesn't get board approaval for a co-op purchase for lack of assets. :floor:

iDumb
August 19, 2018, 01:32 AM
https://s.yimg.com/bt/api/res/1.2/iVbo6p3Ywo4uEwiZwS8DXA--~A/YXBwaWQ9eW5ld3M7c209MTt3PTgwMA--/http://media.zenfs.com/en/homerun/feed_manager_auto_publish_494/5856648853bdd02626789f48ce82ab36

I can tell you right now that data is dead wrong for NYC or I need to look at the break down to analyze that. Maybe they are counting co-op as well that fall in this "median house" category.

Yankees
August 19, 2018, 10:21 AM
and the manlet has returned to pass off obvious statements as his own. And he's brought his precious yahoo finance with him. How grand!

I'm still waiting little man. Dont go hiding again.

iDumb
August 19, 2018, 02:02 PM
This has been my expeirence for years in this site. First ppl write dumb statements.. (from lafck of knowledge and experience)...when i prove them they are dead wrong they come back and say my statements are obvious.

I am glad they are obvious. Because then it means i have penetrated some dumb brains finally.

And those name calling make you sound like a SORE LOSER. Such a wishful thinking on your part.

All the losers I encountered in my life wishes something negative for others instead of elevating themselves up. ..(no disrespecft to any old short man here haha..it's not really negative actually some of the most influencial leaders in history were short).

Loser mentality is like that - they think rest of the world is on similar boat as them. When they realize most ppl are not - it's hard for them to swallow. and they go pee in other ppls private properties as a form of revolt and unjust.

Keep on topic. If you can't don't write. I am gonna report you next time u go off topic and do name calling. 30 year old buira sounds like an uneducated 5 year old. This is the state of how kids are raised these days.

I ignored you multiple x . Learn to live being ignored. After all that's what a loser is expected.

dolcevita
August 19, 2018, 05:13 PM
that is a poor argument and doesn't factor in leverage. That is important in market like NYC/California.

If you put in 100K downpayment for a let's say 800k house. The percentage appreciation of the house is on the 800K not your 100k giving you a significan't leverage.

if house prices goes up 3% in one year (which is historically the rate at which it apprecaites annually for some market ). that's 24K apprecaition. But if you invest outside you would need to have 24% appreciation else where to get to that 24K.

That is called leverage and all the calculations never count that.

--

the queens house in my example... the house only doubled in value. But my initiall investment for that house would be 150K or so...I would need to have 500% return to catch up to waht I would have made with the house in 4 years vs only slightly less than 100% gain..

My english is poor and today I don't even have enough savings to buy a little flat in BD.

But I think there is something unclear about the 24% return:
-you invest 800k, 100k of your own money and 700k from loans.
-the price of house goes up by 3%, the value of your asset goes to 824k. Then according to you, your return of equity is 24% (24k/100k).

-the issue is that, you haven't deduce the interest rate you will have to pay during the first year for 700k loans...you are a brilliant and sucessful man, so you must know that when you borrow 700k from a bank, the total amount repaid is way higher (it depends on the interest rate and the length)

If I am wrong then don't hesitate to correct my mistake.

Yankees
August 19, 2018, 05:42 PM
This has been my expeirence for years in this site. First ppl write dumb statements.. (from lafck of knowledge and experience)...when i prove them they are dead wrong they come back and say my statements are obvious.

I am glad they are obvious. Because then it means i have penetrated some dumb brains finally.

And those name calling make you sound like a SORE LOSER. Such a wishful thinking on your part.

All the losers I encountered in my life wishes something negative for others instead of elevating themselves up. ..(no disrespecft to any old short man here haha..it's not really negative actually some of the most influencial leaders in history were short).

Loser mentality is like that - they think rest of the world is on similar boat as them. When they realize most ppl are not - it's hard for them to swallow. and they go pee in other ppls private properties as a form of revolt and unjust.

Keep on topic. If you can't don't write. I am gonna report you next time u go off topic and do name calling. 30 year old buira sounds like an uneducated 5 year old. This is the state of how kids are raised these days.

I ignored you multiple x . Learn to live being ignored. After all that's what a loser is expected.

All I'm doing is giving you a taste of your medicine. You wanna act like a village khet, I'm gonna treat u like a village khet. In fact, I will spell it out for you. I think you're pathetic. All you do is write bs nonstop, and when you get called out, you change the subject or stay quiet. That is pathetic. Case in point, you keep harping on about how I said 300k is impossible. And I'm calling your bullsh*t. Prove me wrong! It's as simple as that.

FYI you have some serious delusion of grandeur - for all your winner/loser talk, just know nobody here respects you (which I know matters to you). Despite your faux angry outbursts, you are and always will be a meek little man.

iDumb
August 19, 2018, 06:27 PM
All I'm doing is giving you a taste of your medicine.
You wish you can. You are cursing nothing else. There is no art in what you write.

how I said 300k is impossible. And I'm calling your bullsh*t.
There is a whole thread discussing this topic. You linked it yourself. What is it that you want me to waste my time on? Now you want to deny everything when you realized what you sounded like and severely exposed.


FYI you have some serious delusion of grandeur

Again this is not the first time, keep your google psychology degree to yourself. We all know you have many worthless degrees at the age of 30 that makes zero money.

iDumb
August 19, 2018, 06:35 PM
If I am wrong then don't hesitate to correct my mistake.

you are not wrong. calculation was simplified to show dramatic effect of leverage. Over short term when you flip and the price of house only appreciates par with inflation you will lose money..(there are costs associated with selling). But when u are paying montly (mostly the interest) u are doing that in lieu of your rent expense also which ofsets some of that becuase u would have spent that money on rent anyway for a living space.

if price appreciates like how it has been last 8 to 9 years in some market.. at a rate of somehwere between 20 to 30 percent each year. then the dramatic effect of leverage is in play.

My own mistake (poor luck) of not purchasing that 700k plus house 4 years go.. currently valued at 1.4million plus is an example where as my initial investment would only be 160k or so (and my montly mortgage for 4 years- but that's premium 'rent' of living at a much much nicer place and nice neighborhood) show that very well.. almost all gain is tax free as well.

Where can you invest some 200k and come up with more than half a million in gain in less than 4 years with much much LOWER risk than stock market? Being on the wrong side of hot real estate is PAINFUL. These are the simple risks/purchases that make u or break u early.

But you have to be in the right market also i must add.

the point is you can argue to yourself about renting vs buying and calculate all you want and come up with something very stable and safe...but sometimes a risk has to be taken after assessing a market ...and the ability to take this risk is what will separate u from the most of rest ppl. this thread has no asnwer.. buy vs rent argement is meaningless if not everyone is talking about the same market. In some market buying would be a baggage even if calculation of buying is cheaper than renting like in some places in usa... I hope that makes sense.

Yankees
August 19, 2018, 08:04 PM
There is a whole thread discussing this topic. You linked it yourself. What is it that you want me to waste my time on? Now you want to deny everything when you realized what you sounded like and severely exposed.

I never said 300k is impossible. This is you going off on a tangent and railroading the entire thread because you have absolutely nothing else to debate on. That was my point all along, and THAT is why I gave you the link. I was hoping you would figure it out for yourself, but you're a lost cause.


Again this is not the first time, keep your google psychology degree to yourself. We all know you have many worthless degrees at the age of 30 that makes zero money.

Don't get mad at me because you grasp of the english language is elementary. There is no google psychology required (whatever that means) to know what a dangerous combo an insecure man with a bit of money is. And you wonder why nobody has respect for you?

You have no idea what I do or what I make, you are just convincing yourself that I make nothing so you feel a little better about your petty existence. Whatever it takes to keep the delusion going, eh?

In a couple of days you're just going to start arguing with someone else, shouting till you are foaming at the mouth, without proof or facts, just typing away, out shouting any voice of reason. Because after all, this has been your existence - for how many years now? - and will continue to be your existence for years to come.

And for this reason, I find you pathetic. You are not somebody to be respected, you're a cautionary tale on how being so close-minded and uncultured will inevitably lead to a sad life -- regardless of how much money you make.

iDumb
August 19, 2018, 10:32 PM
You have no idea what I do or what I make, you are just convincing yourself that I make nothing so you feel a little better about your petty existence.

haha. There is a reason I reply to you the way I reply to you and not like that to someone else. It's almost as if you are parroting what I have been accusing you of doing.

See the thing is it matters zero what you do or what you make - it's funny you havent realized it. You are analzying ppl that you have no clue about with your google degree and in process making a mockery of yourself nothing else. No one is pointing that out to you.

For example. You called me a short old man - when in reality i am a young early 30s..6 feet tall guy. that was an assumption on your part and it was in a serious post. What will prevent me from accusing you of being a minimum wage worker or unemployed even if it maybe far from truth? You see point?

The thing is I actually do not think being short or old or a minimum wage worker is anything bad. They are respectable if the man is to be respected.

But I am engaging with you...so the response will be that type.

Regarding 300K, read your first post after Din raat. You said a lot there. You know it doesn't even matter actually...it was repeated to show to expose your dumb assumptuous self about just about anything you write. Why is it so easy to call ppl names? call someone old or short or insecure or them having a sad life?? Do you read what you write?

Yankees
August 19, 2018, 11:39 PM
haha. There is a reason I reply to you the way I reply to you and not like that to someone else. It's almost as if you are parroting what I have been accusing you of doing.

Yea pretty sure sportingbd, gman, jadukr, the guy who started this thread would disagree. But then you would just say the same thing about them. They are all wrong, you only behave like this with them and no one else. This is delusion at its best.


Regarding 300K, read your first post after Din raat. You said a lot there. You know it doesn't even matter actually...it was repeated to show to expose your dumb assumptuous self about just about anything you write. Why is it so easy to call ppl names? call someone old or short or insecure or them having a sad life?? Do you read what you write?

What did I say exactly? Never once did I say it was impossible or that he couldn't do it. This is exactly why you are so annoying. THe guy who can't read, recall, or understand a post correctly accusing someone else of making dumb assumptions is not only moronic, but completely asinine. You lack so much self awareness, that I actually feel like I'm being punked. This is cartoonish level.

iDumb
August 19, 2018, 11:56 PM
Gman and jadukor are not dumb. I don't engage with jadukor similarly. Engaging with Gman is more fun because he has basic understadning of what he talks about.

unlike sportingbd and you.

i have no idea what the problem with the thread opener is and why he thinks i have a small penis for some reason...lol...

anywas yankee dada.. YOU WIN!! now take a rest ok?? Good bye. I am gonna go back lead my sad life.. you go back leading the winning one. DONE!!

Yankees
August 20, 2018, 12:29 AM
i have no idea what the problem with the thread opener is and why he thinks i have a small penis for some reason...lol...


Perhaps it has to do with your behavior and the outbursts? You know the saying, if it swims like a duck, quacks like a duck...

Call me dumb all you want, I don't particularly care what some caustic loud mouth thinks of me. I just hope you recognize your own delusion when you inevitably find yourself once again in a shouting match with someone else -- lather, rinse, repeat. Seriously, how many years of this has it been? Dont answer that, I dont want to feel sorry for you.

G-man
August 20, 2018, 12:53 AM
Oh thank god someone thinks i have a basic understanding :fire: here i was thinking i'm good for nothing:doh:

now that my insecurities have been comforted by the all-knowing, all-seeing, almighty genius of everything, i'll get back to work and wondering how on earth them moderators just just keep turning a blind eye. I've seen members get punished for lot less. any mods wana answer that?:waiting:

dolcevita
August 20, 2018, 01:30 AM
you are not wrong. calculation was simplified to show dramatic effect of leverage. Over short term when you flip and the price of house only appreciates par with inflation you will lose money..(there are costs associated with selling). But when u are paying montly (mostly the interest) u are doing that in lieu of your rent expense also which ofsets some of that becuase u would have spent that money on rent anyway for a living space.

if price appreciates like how it has been last 8 to 9 years in some market.. at a rate of somehwere between 20 to 30 percent each year. then the dramatic effect of leverage is in play.

My own mistake (poor luck) of not purchasing that 700k plus house 4 years go.. currently valued at 1.4million plus is an example where as my initial investment would only be 160k or so (and my montly mortgage for 4 years- but that's premium 'rent' of living at a much much nicer place and nice neighborhood) show that very well.. almost all gain is tax free as well.

Where can you invest some 200k and come up with more than half a million in gain in less than 4 years with much much LOWER risk than stock market? Being on the wrong side of hot real estate is PAINFUL. These are the simple risks/purchases that make u or break u early.

But you have to be in the right market also i must add.

the point is you can argue to yourself about renting vs buying and calculate all you want and come up with something very stable and safe...but sometimes a risk has to be taken after assessing a market ...and the ability to take this risk is what will separate u from the most of rest ppl. this thread has no asnwer.. buy vs rent argement is meaningless if not everyone is talking about the same market. In some market buying would be a baggage even if calculation of buying is cheaper than renting like in some places in usa... I hope that makes sense.

Thanks.
You are right about the leverage effect and the value of a house as a lower risk investment.

To answer to the initial question, I think it is more profitable to buy (if we have the financial ability) if we are sure to stay more than 4 or 5 years in the city.

I am planning to buy a house before june 2020, value of the house, around 300k, my investment 50/60k.

iDumb
August 20, 2018, 02:56 AM
I am planning to buy a house before june 2020, value of the house, around 300k, my investment 50/60k.

awesome. where? thanks for sharing. I think you are making an excellent choice.

iDumb
August 20, 2018, 03:20 AM
Oh thank god someone thinks i have a basic understanding :fire: here i was thinking i'm good for nothing:doh:

i'll get back to work

yes basic. and poor risk tolerance for ur age. Don't take it too personally, you can take it as constructive criticism.

I see how u think from ur virtual portfolio after so many months. u made some 20 transaction and the amounts of it are so surprising....and u are at dead last.. you couldn't even topple that sportingguy who has no clue what he is doing.... ZERO. it;s like an emotional wreck trading stocks.

Here i found the link:
https://www.marketwatch.com/game/banglacricket-legends

http://i65.tinypic.com/24brams.jpg

SP in that time frame returned 8% or so FYI.

G-man
August 20, 2018, 04:02 AM
Yeah sp500 made 7.9% nasdaq 13% and dow 3%. What's your point? You literally day traded a few gains and left it as is. One trick pony.

Man i don't have the bandwidth for you anymore. You win, now go die in a hole while no one gives dam.

Jadukor
August 20, 2018, 04:07 AM
Guys Aretha Franklin just died this month....

Anyways I bought my last house for about 250k USD. It was a 250 Sqm house. I think some of you that live in the US could think of investing in Asia and especially in Thailand. The market is comparatively so much cheaper and with 400k-500k you can own a luxury apartment/house and live like a king :-) The loan rate on average is about 6%. I don’t know how that compares to US or elsewhere.

iDumb
August 20, 2018, 04:12 AM
Yeah sp500 made 7.9% nasdaq 13% and dow 3%. What's your point?



Do I have to spell out the point for you?

The point is you coudn't beat sp. And that's with margin they allowed for. And it's a freaken game with virtual coins. even with removal of all that, the choices that you made or the amount you put in ..it's just so conservative. there is no way in hell you would win this. it's not the game, it's how you think and approach that is being evident here and that's what I am bringing up.

these are basics of trading and investing. And YOU signed for this GAME and wanted others to participate.

If I made 20 trades, trust me I would be in a lot higher position.

G-man
August 20, 2018, 04:14 AM
That's great, go make 20 trades then. Bet any money you won't.

Anyway, go buy yourself a prize or something

iDumb
August 20, 2018, 04:17 AM
The loan rate on average is about 6%. I don’t know how that compares to US or elsewhere.

US rate is going higher but borrowing has been dirt cheap last decade. This actually fuelled the housing prices. It was as low as 3% for 30 year mortgage.. now climbed up to around 4.5 still historically low. And it's fixed rate. Basically had u gotten a 3% rate loan - u had gotten money that just keeps up with inflation rate. And buying is just common sense unless it is a housing market that has wild swings .. which is not the case for majority of US.

think of what's gonna happen to rent 30 years from now with inflation... whereas your
montly mortgage amount is dead fixed.

Tigers_eye
August 20, 2018, 09:47 AM
My Head hurts.

I try to read every post but this is too much.

Dear BC Mgmt.,
Can you have single rooms available where two can get together and do their thing? Kissing, hugging, and showing affection in public forums should be curtailed. Modesty folks.

dolcevita
August 20, 2018, 02:26 PM
awesome. where? thanks for sharing. I think you are making an excellent choice.


Well I will buy it in Paris' suburbs, its near a mega city with affordable price.

But there are some issues, that someone should consider before investing on a house:
-the level of tax, here in France when you buy a house, you have to pay around 8.5% levies.
-If you want to sale, you have to pay 4% to the real estate agent, +30 or 40% tax on the capital gain
-the liquidity of your asset.

But I still think it is good to buy, because it will force us "to save" the money which otherwise we throw for rent.

iDumb
August 20, 2018, 05:49 PM
tax,.

US tax code is extremely friendly for homeowners and actually made in a way that encourages buying.

- All interest paid in mortgage are tax deductible. (meaning let's say in a a year u paid mortage of 24K .. and if in beginning that would likely eqaute to ~20k of interest paid). End of the year. You will not have to pay income taxes on 20k of your income

- Any gains upto 500K from sell of a house after living there for 5 years is tax free. This is an amazing one.


France seems to be a bit punishing.

mufi_02
August 22, 2018, 03:10 PM
LOL looks like this thread went awayyy of topic.

alright, I am not as successful as you guys and officially priced out of NYC real estate.

I went to hunter's point in LIC last weekend and saw some nice apts around the area. Went home and checked the price. 1BR going around $3500. Wth! It is not even in Manhattan.

Forget about buying. I can't even afford renting a decent 1BR in NYC anymore. Ideally, your rent should not exceed 25-35% of your take home pay. I don't know how people survives in this city.

Yankees
August 22, 2018, 09:55 PM
LOL looks like this thread went awayyy of topic.

alright, I am not as successful as you guys and officially priced out of NYC real estate.

I went to hunter's point in LIC last weekend and saw some nice apts around the area. Went home and checked the price. 1BR going around $3500. Wth! It is not even in Manhattan.

Forget about buying. I can't even afford renting a decent 1BR in NYC anymore. Ideally, your rent should not exceed 25-35% of your take home pay. I don't know how people survives in this city.

If you have to or want to live in nyc, you can make it work. You basically have to sacrifice some combination of space, cost, or convenience (both work commute and being close enough to actually enjoy the city).

For me, I'm sacrificing space. I have a studio not too far from Hunters point, perfect location and a place to myself. When I have a family, I will have to sacrifice convenience. I have friends who are teachers and make it work. Don't ask me how, but they manage fine. My own parents raised me in a 1BR, and we basically sacrificed all 3.

G-man
August 22, 2018, 10:24 PM
do either as long as you are living within your means and managing your resources (time, money etc) prudently.

I've always believed housing to be a source of shelter and housing, and that's it.

if you want to make "financial investments", there are trillions and gazillions of dollars worth of global financial markets for you to try your luck.

iDumb
August 23, 2018, 08:22 AM
if you want to make "financial investments", there are trillions and gazillions of dollars worth of global financial markets for you to try your luck.

except owning properties are not all about luck. Another poor "advice" . Not pertain to regular folks.

yes in NYC ppl have multiple room mates at the age of 40. that's how they afford it. It's hip apparently. Money in bank is just paper if you can't live the money earned. Our thinking is all messed up... save save save and then enjoy after 70. NO NO NO. It shouldl be invest, take early risks, multiple risks.. and live now.

any teacher living in LIC is likely part of the lottery pool that rents away apartments at subsedized cost to low to mod income ppl for tax breaks for the developers. I know one - earns 60K but lives in a stunning Manhattan view apartment with rent of 1400. Market rate for that apt is somewhere in 5K+/mo.

mufi_02
August 23, 2018, 08:24 AM
If you have to or want to live in nyc, you can make it work. You basically have to sacrifice some combination of space, cost, or convenience (both work commute and being close enough to actually enjoy the city).

For me, I'm sacrificing space. I have a studio not too far from Hunters point, perfect location and a place to myself. When I have a family, I will have to sacrifice convenience. I have friends who are teachers and make it work. Don't ask me how, but they manage fine. My own parents raised me in a 1BR, and we basically sacrificed all 3.

I also grew up in a 1BR in the city. I think the median income in NYC is around $50-55k. So obviously I am overstating the impact of rent here.

But it is hard to find any new lease in a decent area for less than $2k these days. I think small to mid sizes are the best places to live in US. Cities such as Austin, Colorado, Charlotte, Raleigh, Tampa etc.

iDumb
August 23, 2018, 08:45 AM
there are part of bronx where housing is still affordable and the commute to Manhattan isn't so bad. I am talking about rent in range of 1200 to 1400 for 1 BR. NOt all gloom and doom.

mufi_02
August 23, 2018, 08:57 AM
^oh cool. I am not too familiar with Bronx.

Going back to discussion, buy vs rent really depends on the market. In some cities, it makes sense to rent. But on others, it is a better idea to buy a home and start building equity. One also needs to understand state tax implications. For example in NJ, the property taxes will be upwards of $15k/year.

SportingBD
August 23, 2018, 09:25 AM
What would you guys advise someone who doesn’t want to take out a loan to buy house?

Currently, I’m staying with my parents, and like to buy that house.

The cost of the house is £400,000-450,000 (3 bedroom).
I have around 15% of the money in bank.. that’s about it.

Yankees
August 23, 2018, 09:47 AM
What would you guys advise someone who doesn’t want to take out a loan to buy house?

Currently, I’m staying with my parents, and like to buy that house.

The cost of the house is £400,000-450,000 (3 bedroom).
I have around 15% of the money in bank.. that’s about it.

What kinda question is that? If you dont want to take out a loan and have 15% saved, then just wait till you get to 100%. Although I dont understand your aversiion to getting a mortgage.

SportingBD
August 23, 2018, 09:56 AM
What kinda question is that? If you dont want to take out a loan and have 15% saved, then just wait till you get to 100%. Although I dont understand your aversiion to getting a mortgage.

I don’t like to be in debt to anyone, be it family or financial institution.
It will take time to save 450-k. But let’s see IA.

adamnsu
August 23, 2018, 10:15 AM
What would you guys advise someone who doesn’t want to take out a loan to buy house?

Currently, I’m staying with my parents, and like to buy that house.

The cost of the house is £400,000-450,000 (3 bedroom).
I have around 15% of the money in bank.. that’s about it.

Tbh your question and your principles kind of give you the answer really if you dont want to take out a loan then like you said you will need time to save up. If you go down that route you will want to invest it somewhere before you buy a property.

I was chatting with some high level bankers last week and they said it is not a good time to buy before Brexit and elections. They are all expecting certain housing markets to crash as the Pound also takes a battering.

SportingBD
August 23, 2018, 10:19 AM
Tbh your question and your principles kind of give you the answer really if you dont want to take out a loan then like you said you will need time to save up. If you go down that route you will want to invest it somewhere before you buy a property.

I was chatting with some high level bankers last week and they said it is not a good time to buy before Brexit and elections. They are all expecting certain housing markets to crash as the Pound also takes a battering.

Most of those senior level people that work in financial services are Europeans. I wouldn’t look too much into what they say. There maybe short term uncertainty, but things will become normal.

mufi_02
August 23, 2018, 10:25 AM
it is not financially wise to purchase something so expensive outright. loan/debt is not bad. if you are thinking islamically and worried about interest, then go for islamic loans. you can't live on a capitalistic society and not have debts. not sure how it is in UK, but it is almost impossible in US.

but I agree with the notion that debt should be minimized. one should just not finance their new iPhone X and pay that in installments.

adamnsu
August 23, 2018, 10:28 AM
Most of those senior level people that work in financial services are Europeans. I wouldn’t look too much into what they say. There maybe short term uncertainty, but things will become normal.

If you think like that then I dont know what more to say really. Its quite ironic though you are asking advice on a forum with most people having little or no insight rather than trusting senior level European people.

SportingBD
August 23, 2018, 10:33 AM
If you think like that then I dont know what more to say really. Its quite ironic though you are asking advice on a forum with most people having little or no insight rather than trusting senior level European people.

I voted leave.
There are members on this forum that have experience in this area. I am opposed to this notion that UK housing market etc will collapse. Too much scaremongers.

But yes, there will be short term impact.

adamnsu
August 23, 2018, 11:20 AM
All of a sudden I got reminded by a user who was boldly stating that all the cricketers apparently vouch for the wicket keeper to having the best view of an LBW decision. Seems like a good example on this thread who think like "all those cricketers" when it comes to making big financial decisions :D

G-man
August 23, 2018, 05:16 PM
except owning properties are not all about luck. Another poor "advice" . Not pertain to regular folks.

yes in NYC ppl have multiple room mates at the age of 40. that's how they afford it. It's hip apparently. Money in bank is just paper if you can't live the money earned. Our thinking is all messed up... save save save and then enjoy after 70. NO NO NO. It shouldl be invest, take early risks, multiple risks.. and live now.

any teacher living in LIC is likely part of the lottery pool that rents away apartments at subsedized cost to low to mod income ppl for tax breaks for the developers. I know one - earns 60K but lives in a stunning Manhattan view apartment with rent of 1400. Market rate for that apt is somewhere in 5K+/mo.

It's not poor advice or irrelevant for regular people. Anyone can legit educate themselves or see an advisor/analyst when it comes to investing in markets. Just because you don't have that capacity doesn't mean no one does.

Also, i never said anything about luck. lastly no one gave you the decree to decide what's good advice or not. If you don't think it's useful, good for you, but you can't speak for others.

G-man
August 23, 2018, 05:27 PM
What would you guys advise someone who doesn’t want to take out a loan to buy house?

Currently, I’m staying with my parents, and like to buy that house.

The cost of the house is £400,000-450,000 (3 bedroom).
I have around 15% of the money in bank.. that’s about it.

Sportingbd you should see what multiple the purchase price is relative to your yearly income..3 to 4 times is ok. Beyond 5 is kinda not good..during bubble times this can go beyond 10

As long as your cash outflow..mortgage/upkeep etc is all relatively do able with your income then sounds good. Like i said above "live within your means"

You have done well to save that money, don't do anything rash amd that's half the job done.

Hopefully the almighty bringer of knowledge can sign off on that "advice".

dolcevita
August 24, 2018, 04:13 AM
People interested by real estate should read Donald Trump's books:
-The art of the deal
-The art of the comeback

This guy is much more smart than the liberal "progressive" media try to make us believe.
I will be very surprised if he doesn't win a second term.

The second book contains some jokes, it will make you laught, in one passage Donald Trump is worried that he won't be able to defend himself against the press after his death (book written in 1996).

The first book is more authentic and it helps to understand his strategy

iDumb
August 24, 2018, 06:12 AM
It's not poor advice or irrelevant for regular people. Anyone can legit educate themselves or see an advisor/analyst when it comes to investing in markets. Just because you don't have that capacity doesn't mean no one does.

.

Calm down. When it comes to market I have superior returns than you year over year . And can infact trade better than you any day

Yankees
August 24, 2018, 09:52 AM
People interested by real estate should read Donald Trump's books:
-The art of the deal
-The art of the comeback

This guy is much more smart than the liberal "progressive" media try to make us believe.
I will be very surprised if he doesn't win a second term.

The second book contains some jokes, it will make you laught, in one passage Donald Trump is worried that he won't be able to defend himself against the press after his death (book written in 1996).

The first book is more authentic and it helps to understand his strategy

bahahaha. You do realize his success is thanks to Fred Trump the millionaire developer? Unless you have a rich dad to smooch off, his hackneyed business "strategy" is no different than the multitude of strategy books available.

He very well may win a second term (incumbents have the advantage in politics), but it has very little to do with his "art of the deal".

iDumb
August 24, 2018, 09:57 AM
He very well may win a second term (incumbents have the advantage in politics), but it has very little to do with his "art of the deal".


another nonsense comment and observation which has no basis to reality. the guy won an American presidency out of no where all on his own when everyone mocked him running to begin with (only some 43 ppl held that position in its entire history). That's an extraordinary achievement.

the dismissive confidence in this guys poor observation and dumb comments are something else.

i think it is worth reading his book on how he thinks.. and also worth studying how he interacts with people. How does he become so likeable despite saying everything that you are not supposed to say.... it's an art.

I agree with you dolcevita regarding Trump and the liberal attempt to undermine his talent and achievement.

Yankees
August 24, 2018, 09:58 AM
if you want to make "financial investments", there are trillions and gazillions of dollars worth of global financial markets for you to try your luck.

except owning properties are not all about luck. Another poor "advice" . Not pertain to regular folks.

Christ idumb, do you even know what a figure of speech is? :facepalm::facepalm:

iDumb
August 24, 2018, 10:08 AM
^I don't borrow other's opinion. I am an astute observer unlike you who thinks he knows a lot but in reality comes lacking. There are many right wing candidates that try but most falter. Again not everyone has good ability to process information properly. You lack severely. take care.

iDumb
August 24, 2018, 10:11 AM
Christ idumb, do you even know what a figure of speech is? :facepalm::facepalm:

I know what a poor investment is. And what a poor advice is on diversity of investments. G-man may work in finance and has some working knowledge of it but many times he makes rookie mistakes.

Discouraging property ownership as pasrt of wealth creation is not someone who should be listened to....

even great zuckerberg despite all his billions... goes around buying properties.. Because that's wealth!!

SportingBD
August 24, 2018, 10:15 AM
Trump is an exceptional business man.
US economy is doing well because you have a business man as a President.

But... when he leaves, US will be in a BIG hole.
He rightly said that the markets would collapse if his impeached.

The next pres if he/she is not as smart as Trump in business sense.. US will be screwed.

Yankees
August 24, 2018, 10:17 AM
^I don't borrow other's opinion. I am an astute observer unlike you who thinks he knows a lot but in reality comes lacking. There are many right wing candidates that try but most falter. Again not everyone has good ability to process information properly. You lack severely. take care.

Astute observer? this is comical. I've said it before, you have delusion of grandeur. Go ahead, ask anyone in this forum. For all the time you spent here, nobody takes your advice/opinions seriously. Take a poll. You won't because it will penetrate that fortress of delusion you've built up. Youre a cartoon.

Again not everyone has good ability to process information properly. You lack severely. take care.
And you can't even write a proper sentence. The delusion is strong with this one.

Yankees
August 24, 2018, 10:23 AM
I know what a poor investment is. And what a poor advice is on diversity of investments. G-man may work in finance and has some working knowledge of it but many times he makes rookie mistakes.

Discouraging property ownership as pasrt of wealth creation is not someone who should be listened to....

even great zuckerberg despite all his billions... goes around buying properties.. Because that's wealth!!

No sh*t sherlock! But do you know what a figure of speech is? If you did, perhaps you wouldn't have missed g-man's point completely and gone off on another one of your famous chagoila tangents. :facepalm:

dolcevita
August 24, 2018, 10:57 AM
bahahaha. You do realize his success is thanks to Fred Trump the millionaire developer? Unless you have a rich dad to smooch off, his hackneyed business "strategy" is no different than the multitude of strategy books available.

He very well may win a second term (incumbents have the advantage in politics), but it has very little to do with his "art of the deal".

For the first part, you are right, his father helped him to start his career, with money, advices and network, these were very helpful at the beginnings.
But we should also accept that his father's help doesn't explain everything.
He is a very smart businessman, very determined and has worked hard to achieve his goals, we should learn these things from his books.

Then concerning me referring to his "strategy", I think there was a misunderstanding (because of my poor English), when I referred to "strategy", I intended to tell about his "strategy" as the President of the USA:

If we listen to the press, we have the impression that this guy is versatile, has no strategy, he is doing and writing on twitter whatever he wants, that he is the worst president of the USA.

But if you go further from the media and try to read his books+ official documents of US Administration, you will see that he is extremely rationale, he exactly knows what he wants .
Below are few examples:
-If you read the National security strategy (2018) and National defense strategy (2018), it is written that one of the weakness of American foreign policy was it's predictability, and that they must be "unpredictable" in their methods (that is what he is doing).

-Then if we look to the "Trade war", the press is telling us that Trump gonna blow up the WTO and Free Trade, but if you read the art of the deal, you understand his strategy:
"M Y STYLE of deal-making is quite simple and straightforward. I aim very high, and then I just keep pushing and pushing and pushing to get what I’m after. Sometimes I settle for less than I sought, but in most cases I still end up with what I want"

-You also understand what China and Europe should not do (But Europe is doing this mistake): "The worst thing you can possibly do in a deal is seem desperate to make it. That makes the other guy smell blood, and then you’re dead. The best thing you can do is deal from strength, and leverage is the biggest strength you can have. Leverage is having something the other guy wants. Or better yet, needs. Or best of all, simply can’t do without. Unfortunately, that isn’t always the case, which is why leverage often requires imagination, and salesmanship. In other words, you have to convince the other guy it’s in his interest to make the deal"


Anyway I am neither pro Trump or anti Trump.

G-man
August 26, 2018, 06:03 AM
Calm down. When it comes to market I have superior returns than you year over year . And can infact trade better than you any day

You have superior mental illnesses and learning difficulties.

My returns were laid out in the other thread, meanwhile you provided zero evidence of your so called returns and so called superiority.

Keep worshipping yourself because you're just everyone's bua.

G-man
August 26, 2018, 06:07 AM
^I don't borrow other's opinion. I am an astute observer unlike you who thinks he knows a lot but in reality comes lacking. There are many right wing candidates that try but most falter. Again not everyone has good ability to process information properly. You lack severely. take care.

The only thing you astutely observe is ctrl c ctrl v when you plagiarize info from all over the web.

G-man
August 26, 2018, 06:09 AM
I know what a poor investment is. And what a poor advice is on diversity of investments. G-man may work in finance and has some working knowledge of it but many times he makes rookie mistakes.

Discouraging property ownership as pasrt of wealth creation is not someone who should be listened to....

even great zuckerberg despite all his billions... goes around buying properties.. Because that's wealth!!

Lol yeah because Zuckerberg doesn't have to get loans at x% for the rest of his life.

Again once again an example of astute observations not pertain to normal people, bad advice. You lack severe care take pls.

iDumb
August 26, 2018, 08:19 AM
You have superior mental illnesses and learning difficulties.

My returns were laid out in the other thread, meanwhile you provided zero evidence of your so called returns and so called superiority.

Keep worshipping yourself because you're just everyone's bua.

very classy my friend. very classy.

I provided plenty of evidence. But u know what? It doesn't matter. At the end of the day, I win because I invest my own real money and get real returns. And i live what i preach when it comes to market. I been doing it for decades - you can pull up market returns for the last decade and will realize why i soumd so cocky because it pays to be right. I have been part of the greatest bull market in history through out. While you were SHORT for 4 years.

Zeeshan
August 27, 2018, 05:05 PM
acha amra shobai chete jachi kano...

Yankees
August 27, 2018, 09:01 PM
And the censorship has begun. Wonderful. Thank you Mod Gods.

G-man
August 27, 2018, 09:23 PM
I realised my posts and yankees' posts were deleted?

you guys really have no recourse for your actions , answer to nobody ay?

Zeeshan
August 27, 2018, 10:52 PM
So you guys expect to just waltz in write whatever you may feel like? Tell me which forum is unmoderated. Even FB groups got some strong modship.

G-man
August 28, 2018, 12:03 AM
yeh good point. I can't expect to waltz in here and write whatever I like.

But it seems like some particular users can write whatever they want, even when a certain moderators know their conduct has gotten "lot worse".

:applause::applause:

iDumb
August 28, 2018, 12:51 AM
But it seems like some particular users can write whatever they want, even when a certain moderators know their conduct has gotten "lot worse".



you should press the report button on posts that you deem are inappropriate.

Being cocky,obnoxious, in your face is not against forum rules. it's a personality.

However cursing someone, calling them names are generally not only against rules but also reflect poorly on the person who does it.

Read my posts with an open mind. You will no longer feel the way you do. and in process may learn or benefit from it.

Finance/should I buy should i sell thread has been in this site for OVER 10 years. Any frequent member to this site should be in the market. and this site would be a reminder to them that INVEST heavily and STOP market watching. Stop buying penny stocks. Stop reading about options, forex, when u dont have a single penny in real companies.

I frequently write.. MAX your 401k. someone may reply saying who doesn't know it. But is he doing it?? my posts should be a reminder that they should start and do that instead. It may sound nonsense now.. give it 10 years. This month my market gain was higher than my monthly salary DOING NOTHING only because i have done that last decade.

same applies to properties. i don't know a single person who regrets buying properties in the good market like new york regardless of how pricey it seems. (one of my biggest regrests). But affordability is an issue now however. Do more, over think less, things usually work out for better in my experience.

there are some of you here who has been following the market for years but invested NOTHING. when exactly are they planning to do that. One of them argues with me a lot here despite me telling him multiple x to jump in as a good suggestion to a fellow member from experience..... he still thinks somehow he is better at it than me when he can't even get over the mental hurdle of a potential loss.

Data doesn't support that over long run.

and when i write these truths... ppl take it as an attack. Why do u feel attacked when I write i think you are too conservative for your age?

Yankees
August 28, 2018, 01:54 AM
lol G-men is going Mad Max on this ish. I love it. Carry on bro. The rest of us will remain incel-us (that's for your Zee) with our words as we get reigned in, dreaming of becoming Furiosa, but really just waiting for the water fall to drop.

<iframe width="560" height="315" src="https://www.youtube.com/embed/F4BQTm7dSNg" frameborder="0" allow="autoplay; encrypted-media" allowfullscreen></iframe>

Yankees
August 28, 2018, 03:52 AM
Dolcevita, I forgot to respond to you:


Then concerning me referring to his "strategy", I think there was a misunderstanding (because of my poor English), when I referred to "strategy", I intended to tell about his "strategy" as the President of the USA:

Stop apologizing about your "poor" English. It's perfectly fine, and way better than some here.


If you read the National security strategy (2018) and National defense strategy (2018), it is written that one of the weakness of American foreign policy was it's predictability, and that they must be "unpredictable" in their methods (that is what he is doing).

Predictable according to who exactly? I could argue, American foreign policy has been extremely unpredictable since Clinton era. Does diplomacy need unpredictability? If so, why? These are opinions, not facts.


"M Y STYLE of deal-making is quite simple and straightforward. I aim very high, and then I just keep pushing and pushing and pushing to get what I’m after. Sometimes I settle for less than I sought, but in most cases I still end up with what I want"
This really isn't anything earth shattering. It's a very common tactic in any negotiation. I would say most people know this intuitively. If you go to any bazaar in Bangladesh, you'll see uncles and aunties utilize this on a very basic level. Trump is neither the first to use this, nor the first to put it down on paper.


-You also understand what China and Europe should not do (But Europe is doing this mistake): "The worst thing you can possibly do in a deal is seem desperate to make it. That makes the other guy smell blood, and then you’re dead. The best thing you can do is deal from strength, and leverage is the biggest strength you can have. Leverage is having something the other guy wants. Or better yet, needs. Or best of all, simply can’t do without. Unfortunately, that isn’t always the case, which is why leverage often requires imagination, and salesmanship. In other words, you have to convince the other guy it’s in his interest to make the deal"

Again, this is nothing new. Most people might not understand the word leverage, but know what it is and how to utilize it on an intuitive level. If this is the best his book has, what exactly does that prove for you?

Look if you enjoy Trump's persona and style and enjoy reading art of the deal, then by all means read it. If you get some strategy out if, fantastic. But these strategies are nothing new. And to give him credit for it is to deny the people that wrote this stuff before him.

If you want an academic approach, read Porter's stuff. If you want practical, pick any of the multitude of books available. I suggest kauffman, Carnegie, ben graham. Even Art of War is full of nice little tidbits. Heck, Wolf of Wall Street will teach you the same things, albeit with more f*** yous than you've seen your entire life.

dolcevita
August 28, 2018, 08:30 AM
Dolcevita, I forgot to respond to you:



Stop apologizing about your "poor" English. It's perfectly fine, and way better than some here.



Predictable according to who exactly? I could argue, American foreign policy has been extremely unpredictable since Clinton era. Does diplomacy need unpredictability? If so, why? These are opinions, not facts.


This really isn't anything earth shattering. It's a very common tactic in any negotiation. I would say most people know this intuitively. If you go to any bazaar in Bangladesh, you'll see uncles and aunties utilize this on a very basic level. Trump is neither the first to use this, nor the first to put it down on paper.


Again, this is nothing new. Most people might not understand the word leverage, but know what it is and how to utilize it on an intuitive level. If this is the best his book has, what exactly does that prove for you?

Look if you enjoy Trump's persona and style and enjoy reading art of the deal, then by all means read it. If you get some strategy out if, fantastic. But these strategies are nothing new. And to give him credit for it is to deny the people that wrote this stuff before him.

If you want an academic approach, read Porter's stuff. If you want practical, pick any of the multitude of books available. I suggest kauffman, Carnegie, ben graham. Even Art of War is full of nice little tidbits. Heck, Wolf of Wall Street will teach you the same things, albeit with more f*** yous than you've seen your entire life.

-Predictable by other countries, e.g China. Trump wants unpredictability in their methods not goals.


-His strategy, I did't said he is a great strategist (I said he is a brilliant businessman), I wrote that his book helps us to understand his strategy.

-As I said I am not pro or against Trump, what I find shame is that there a liberal bias against him. Journalists blame him because his policies may undo the post world war 2 world order.
But as an American president his foremost role is to preserve his country's interests, not to maintain an order which contributes to the rise of state like China.

-The China reckoning (Campbell and Ratner, 2018)
-The hundred year marathon (Michael Pillsburry)
-Destined for war (Graham Allison)

Yankees
August 28, 2018, 09:40 AM
-Predictable by other countries, e.g China. Trump wants unpredictability in their methods not goals.

-His strategy, I did't said he is a great strategist (I said he is a brilliant businessman), I wrote that his book helps us to understand his strategy.

-As I said I am not pro or against Trump, what I find shame is that there a liberal bias against him. Journalists blame him because his policies may undo the post world war 2 world order.

There definitely is a liberal bias against him, just like there was a conservative bias against Obama. This kind of media bias has been going forever.


But as an American president his foremost role is to preserve his country's interests, not to maintain an order which contributes to the rise of state like China.

When has an American president not acted with his country's interest in mind?

dolcevita
August 28, 2018, 10:02 AM
There definitely is a liberal bias against him, just like there was a conservative bias against Obama. This kind of media bias has been going forever.




When has an American president not acted with his country's interest in mind?

I didn't said that previous American presidents acted against US interests. I said journalists blame Trump because his policies undermine the post World War 2 world order (according to journalists).

And according to Trump and some thinkers (Graham Allison, Michael Pillsbury, Ratner, Campbell...) the liberal international order doesn't fully serves US's interests today.