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Re: Is your house paid off? [Re: centershot] #15811542 02/19/21
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tikkanut Offline
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as in an earlier thread.......2.25% mortgage is C H E A P

BP-B2

Re: Is your house paid off? [Re: centershot] #15811550 02/19/21
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Like one of my buddies says "You mite pay off that house someday but you will never pay off the taxes."

Re: Is your house paid off? [Re: jnyork] #15811563 02/19/21
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Originally Posted by jnyork


We sold our rentals, one of the happiest days of my life when we closed on the last one. Rentals are the biggest PITA imaginable, with the possible exception of owning a restaurant or bar.



They're not bad if you buy good houses that will attract good renters. The last house I bought was fairly immaculate and in a nice, yet fairly low cost neighborhood.

I'll admit, it's a bit tricky to find a rental property that's low enough in price yet still decent enough to attract good renters. You have to keep an eye out for the right one.

I got a decent deal on one I bought in October. I paid a bit under $150K for it. With 20% down I'm renting it for 2X the mortgage payment. If I put it on the market today I'd price it at $170K.

Those deals don't come along every day, though. The market is so hot around here right now for any house under $300K that any with an appropriate price will have 5 offers on the table 24 hours after it's listed.

It's a big plus to have 20% down on hand. A lot of people looking for a nice, starter home (the kind that make good rentals) will have 5% to 10% down and looking for a FHA loan.

Sellers don't particularly like FHA loans. Someone with 20% in hand and planning on financing with a conventional loan will have an edge over those other 4 offers that are on the table.

Re: Is your house paid off? [Re: mjbgalt] #15811573 02/19/21
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Originally Posted by mjbgalt
That's good math but I bought this house very cheaply and since the 2.62 percent is on a balance of 28k I don't mind paying it.



Sure.
But it's not necessarily the best for everyone.

If a man has the capability to make early payoff the savings may be the cost of a truck or even allow for another mortgage on a vacation home or the like.

Having more cash on hand for savings could pave the way for a early retirement in some cases.

A lot of peace of mind comes with just being debt free and that can be priceless.


They remind me of blind, enraged oxen being taunted and prodded by the right wing media, frothing and wanting to strike someone, but can't see who's really tormenting them.
Re: Is your house paid off? [Re: akasparky] #15811601 02/19/21
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Originally Posted by akasparky


A lot of peace of mind comes with just being debt free and that can be priceless.
That's what others so often forget. Different people have different comfort levels with different things. Investing in the market doesn't bother me but house rentals would. I'd rather pay cash for most things because owing money bothers me. Different people, different tolerances...

IC-A

Re: Is your house paid off? [Re: akasparky] #15811612 02/19/21
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Originally Posted by akasparky
Originally Posted by mjbgalt
That's good math but I bought this house very cheaply and since the 2.62 percent is on a balance of 28k I don't mind paying it.



Sure.
But it's not necessarily the best for everyone.

If a man has the capability to make early payoff the savings may be the cost of a truck or even allow for another mortgage on a vacation home or the like.

Having more cash on hand for savings could pave the way for a early retirement in some cases.

A lot of peace of mind comes with just being debt free and that can be priceless.



You are absolutely correct.

Re: Is your house paid off? [Re: centershot] #15811615 02/19/21
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Only reason i attacked bob is that he is a loud mouth a hole who needs to be shown how his behavior sounds to everyone else

Last edited by mjbgalt; 02/19/21.
Re: Is your house paid off? [Re: UPhiker] #15811626 02/19/21
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Originally Posted by UPhiker
Originally Posted by akasparky


A lot of peace of mind comes with just being debt free and that can be priceless.
That's what others so often forget. Different people have different comfort levels with different things. Investing in the market doesn't bother me but house rentals would. I'd rather pay cash for most things because owing money bothers me. Different people, different tolerances...


Exactly. For me it's #1. Cash flow everything. I'd love a new truck but will not borrow. Don't even have credit cards.

I can't tell the future. I'd rather just have utility bills only in case something happens to my job. I hope it stays that way.

Writing the property tax check pisses me off though.


If Obama is the answer, must have been a pretty stupid question.
Re: Is your house paid off? [Re: centershot] #15811628 02/19/21
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Could be paid off any time I want but a 2.2% mortgage fixed for the next 17 years is a pretty damn good hedge against inflation. I’m certainly glad I had that money in the market for the past few years instead of tied up in a house, but I’ve got very tight stop losses now and if they get triggered I may pay it down.


------------------------
John
Re: Is your house paid off? [Re: UPhiker] #15811639 02/19/21
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Originally Posted by UPhiker
Originally Posted by akasparky


A lot of peace of mind comes with just being debt free and that can be priceless.
That's what others so often forget. Different people have different comfort levels with different things. Investing in the market doesn't bother me but house rentals would. I'd rather pay cash for most things because owing money bothers me. Different people, different tolerances...


Which is exactly why we paid off our house early. My wife and I are both freelance writers--and not having a mortgage meant we had more flexibility in our careers--including telling some company that started screwing us to stuff it.


“Montana seems to me to be what a small boy would think Texas is like from hearing Texans.”
John Steinbeck
IC-B

Re: Is your house paid off? [Re: centershot] #15811649 02/19/21
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Still paying the County of Siskiyou 150 a month for the privilege of living in my own home. But, I get services I think...fire protection-no, my kids schools 20 years ago-no, public transport-no, sheriff 40 minute response time-yes maybe, ambulance/EMT 40 minute response-yes, snowplow-no. Helluva deal.


Well this is a fine pickle we're in, should'a listened to Joe McCarthy and George Orwell I guess.
Re: Is your house paid off? [Re: centershot] #15811664 02/19/21
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Teamster's/UPS is paying my mortgage......

Go Brown !

But I voted for Trump.......

[Linked Image from images-na.ssl-images-amazon.com]

Re: Is your house paid off? [Re: centershot] #15811667 02/19/21
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Lord yes, I hate owing anyone, bought a farm over in Arkansas, paid it off in '93 at 30, still have it, lease it out for cattle, bought this farm in '98, paid off in '03, only way to fly.

Re: Is your house paid off? [Re: mjbgalt] #15811673 02/19/21
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Originally Posted by mjbgalt
Only reason i attacked bob is that he is a loud mouth a hole who needs to be shown how his behavior sounds to everyone else


GFY you dumb fugk


[bleep] Democrats . TRUMP 2020


GOD BLESS THE USA
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THERE ARE NO COINCIDENCES
Re: Is your house paid off? [Re: centershot] #15811679 02/19/21
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Great example of proving me right Bob

Re: Is your house paid off? [Re: centershot] #15811686 02/19/21
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wow........

Re: Is your house paid off? [Re: centershot] #15811692 02/19/21
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51 years old

I own two houses


Maker of the Frankenstud Sling Keeper
Re: Is your house paid off? [Re: centershot] #15811702 02/19/21
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I tried to build a new one with cash 3 years ago.i went over budget and borrowed a bit once it was done but paid that off the first year. My property taxes and insurance have both about doubled since build. The bank is done but property taxes make me feel like I'm renting from the government. I hate property taxes.

Bb

Re: Is your house paid off? [Re: centershot] #15811709 02/19/21
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Bought the home farm from my parents and paid it off in 12 years, but I continue to be in debt as in stead of playing the stock market I buy and sell land.


You're Welcome At My Fire Anytime



Re: Is your house paid off? [Re: centershot] #15811718 02/19/21
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There's people here with lots of money.

Deep pockets.

Surprisingly, they may not be who you think they are. And people you may think are, may not be. wink

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