First Time Home Buyer

[Orruar]

Originally Posted by Guttzs [You must be logged in to view images. Log in or Register.]

SO calling someone who owns several properties stupid when completely ignorant as to the nature of paying off mortgages early. nvm just keep paying the banks it saves you the time of having more money to keep earning right? fuckwad.

Hmm, pay off some of the 3.5% mortgage or put that money into a bond fund that will gain 5-6% like clockwork. Hell, plenty of blue chip stocks consistently yield 5%+ on dividend alone. Even if you just hold and it never appreciates, you're better off doing that than putting it towards the principle. Add in the fact that the federal reserve is dedicated to inflation, and you're just crazy to pay off a mortgage whose inflation adjusted interest rate is effectively negative.

[Orruar]

Originally Posted by Shannacore [You must be logged in to view images. Log in or Register.]

It's the New Mexico way

Not everywhere. Had family in Albuquerque and they had an actual yard with grass and even some trees.

[Shannacore]

Originally Posted by Orruar [You must be logged in to view images. Log in or Register.]

Not everywhere. Had family in Albuquerque and they had an actual yard with grass and even some trees.

I like my water bill not being $300/month

[Guttzs]

Originally Posted by Orruar [You must be logged in to view images. Log in or Register.]

Hmm, pay off some of the 3.5% mortgage or put that money into a bond fund that will gain 5-6% like clockwork. Hell, plenty of blue chip stocks consistently yield 5%+ on dividend alone. Even if you just hold and it never appreciates, you're better off doing that than putting it towards the principle. Add in the fact that the federal reserve is dedicated to inflation, and you're just crazy to pay off a mortgage whose inflation adjusted interest rate is effectively negative.

Why gain 5-6% when you can collect rent for properties pay them off and make more than 5-6% of the property value every year?

[Langrisserx]

why argue.. the money isnt even real and homes are strictly to get girls obviously.. bitches want a dude with a job AND a house these days.

my hand, asks for nothing.

[Orruar]

Originally Posted by Guttzs [You must be logged in to view images. Log in or Register.]

Why gain 5-6% when you can collect rent for properties pay them off and make more than 5-6% of the property value every year?

You don't understand what I'm saying then. You say you would pay off a mortgage with any extra money you have. I say put that money into one of several places where you can make 5%+ while paying down that 3.5% mortgage as slowly as possible. The spread is just extra profit on top of whatever you're making from rent.

[fishingme]

Originally Posted by Langrisserx [You must be logged in to view images. Log in or Register.]

why argue.. the money isnt even real and homes are strictly to get girls obviously.. bitches want a dude with a job AND a house these days.

my hand, asks for nothing.

qft, long live the hand!

[bomaroast]

There should not be green grass in New Mexico. His back yard looks appropriate for the area.

[Raavak]

That's a nice looking home. I'm jelly. Nice fenced/walled in backyard too... I can see many a party happening there.

[Shannacore]

Originally Posted by Raavak [You must be logged in to view images. Log in or Register.]

That's a nice looking home. I'm jelly. Nice fenced/walled in backyard too... I can see many a party happening there.

The backyard is going to take a lot of work to get it party-ready (need to lay a larger patio, landscaping, hot tub, etc etc) but I will probably wait until Spring to do that.