Author
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Topic: WHO WANTS A HOUSE?
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cobraracer46
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Member # 1142
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posted
quote: Originally posted by cobraracer46: quote: Originally posted by T-TopTerror: quote: Originally posted by cobraracer46: quote: Originally posted by T-TopTerror: In my defense, I will give free debt analysis to all CAFORD members
Potential Home buyers need to realize that they cannot have ANY kind of debt at all when they are shopping for a home. Once people cut up all thier credit cards, get rid of stupid car payments and stop using credit, they just might be on the right track to buying a home. Poeple buy and finance new cars all the time and it's one of the dumbest things people do to loose money and not have any capital for a new home. People also need to have money saved in case of a rainy day, because if you loose your job, don't have emergency fund in place and have a shit load of debt , your new home will get forclosed on and you will be fucked Once again, YOU CANNOT HAVE ANY KIND OF DEBT when you are shopping for a home!
I don't know who you are, but you don't know what your talking about. EVERYDAY people with debt buy homes. And they use these homes to get out of other debt. your payments over 30 years are alot easier then over 5 yrs. Besides homes create equity which people use to invest. Yes they go in more debt but that money is used to achieve more. The people on this site can call me and we can talk about their particular situation. I wouldn't send anybody your way because you obviously don't know how to make money and you would advise people to stay where they are. Did you know if you own everything and you wreck your car, the other party sues you, you will lose everything. Now if you put your money from your house into an annuity then it's protected. How do you think OJ gets away with oweing the Goldberg's 32 million but he's still on the golf courses everyday. Please stay of of this thread until you educate yourself a little more on the way this industry works. Thanks
Dude, You don't know what are talking about because you don't know anything about money. You cant get out of debt with other debt. You cannot win with money when you borrow it and pay interest on it. basically, You are robbing paul to pay petter. No offence to any one, but I think people should stay away from this real estate guy, because with his counseling and advice, he will definatly put you in house, but the only problem with that is that it will be the poor house!!
-------------------- 2001 SVT cobra convertible with a Viper T56, Fikse wheels, Griggs frame kit, roll bar, Vortech, 4:30 gears, brembo GT brakes and more.
Posts: 1172 | From: Woodside California | Registered: Apr 2002
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2005GTskip
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Member # 4885
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posted
quote: Originally posted by cobraracer46: quote: Originally posted by cobraracer46: quote: Originally posted by T-TopTerror: quote: Originally posted by cobraracer46: quote: Originally posted by T-TopTerror: In my defense, I will give free debt analysis to all CAFORD members
Potential Home buyers need to realize that they cannot have ANY kind of debt at all when they are shopping for a home. Once people cut up all thier credit cards, get rid of stupid car payments and stop using credit, they just might be on the right track to buying a home. Poeple buy and finance new cars all the time and it's one of the dumbest things people do to loose money and not have any capital for a new home. People also need to have money saved in case of a rainy day, because if you loose your job, don't have emergency fund in place and have a shit load of debt , your new home will get forclosed on and you will be fucked Once again, YOU CANNOT HAVE ANY KIND OF DEBT when you are shopping for a home!
I don't know who you are, but you don't know what your talking about. EVERYDAY people with debt buy homes. And they use these homes to get out of other debt. your payments over 30 years are alot easier then over 5 yrs. Besides homes create equity which people use to invest. Yes they go in more debt but that money is used to achieve more. The people on this site can call me and we can talk about their particular situation. I wouldn't send anybody your way because you obviously don't know how to make money and you would advise people to stay where they are. Did you know if you own everything and you wreck your car, the other party sues you, you will lose everything. Now if you put your money from your house into an annuity then it's protected. How do you think OJ gets away with oweing the Goldberg's 32 million but he's still on the golf courses everyday. Please stay of of this thread until you educate yourself a little more on the way this industry works. Thanks
Dude, You don't know what are talking about because you don't know anything about money. You cant get out of debt with other debt. You cannot win with money when you borrow it and pay interest on it. basically, You are robbing paul to pay petter. No offence to any one, but I think people should stay away from this real estate guy, because with his counseling and advice, he will definatly put you in house, but the only problem with that is that it will be the poor house!!
what kind of tax breaks do u get from renting? what kind of returns do u get from renting? do u get to keep all the stuff u put into the house your renting? how about when the people want to sell the house you are renting?
-------------------- 2005 Gt
Posts: 294 | From: Discovery bay,California | Registered: Sep 2004
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2005GTskip
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Member # 4885
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i love owning my own home get in any way you can and our prices are high but u pay for the weather and the great people in cali.. this is my 1st house i owned a condo in livermore and now this im going to keep moving up..fu/k renting you cant move up when u rent..
-------------------- 2005 Gt
Posts: 294 | From: Discovery bay,California | Registered: Sep 2004
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VNMKING
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Member # 480
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cobraracer46-
stop putting in you 2 cents. More people on this board obviously know more about real estate than you. Do you own a home? Probably not. Hey, why don't you call me, I'll evaluate your currents situation and see if we can get you into some real estate. At least you'll be making money with huge tax breaks like the rest of us.
-------------------- 65’ Coupe 94’ Cobra "VNMKING"
Posts: 1000 | From: Roseville, CA | Registered: Oct 2001
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hidnn.o.s.
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Member # 1219
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quote: Originally posted by T-TopTerror: cobraracer46-
stop putting in you 2 cents. More people on this board obviously know more about real estate than you.
-------------------- R.I.P. Willie G. You are missed on this forum
Posts: 15950 | Registered: Apr 2002
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RixSikCobra
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Member # 5058
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Agreed.
-------------------- 2004 Terminator Torch Red Vert Built,Ported,Cammed,Juiced
Posts: 2120 | From: Pleasanton | Registered: Nov 2004
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89TRUNK
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Member # 2506
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I just went in with my bro on a house this past dec. and we still live at home we're just renting it out.. 0 down we each pay 750 and so far the house has gone up at least 45k.... All this man is asking is your time, you'll be surprised what type of programs there is for 1st time buyers... Owning a house in the bay is the best investments you can do in my opinion... Good luck
Posts: 1843 | From: Bay Area | Registered: Feb 2003
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VNMKING
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Member # 480
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quote: Originally posted by 89TRUNK: I just went in with my bro on a house this past dec. and we still live at home we're just renting it out.. 0 down we each pay 750 and so far the house has gone up at least 45k.... All this man is asking is your time, you'll be surprised what type of programs there is for 1st time buyers... Owning a house in the bay is the best investments you can do in my opinion... Good luck
Thanks bro- you're right, all I'm asking for is some interested people that aren't sure if they can buy, because you might be able to get into something now instaed of after someone else makes the money on it.
-------------------- 65’ Coupe 94’ Cobra "VNMKING"
Posts: 1000 | From: Roseville, CA | Registered: Oct 2001
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liftedF150
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Member # 868
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quote: Originally posted by hidnn.o.s.: quote: Originally posted by T-TopTerror: cobraracer46-
stop putting in you 2 cents. More people on this board obviously know more about real estate than you.
IM getting in a house as soon as i can afford it. But im going up to sac.
-------------------- GO SHARKS!
Posts: 3259 | From: Discovery Bay | Registered: Feb 2002
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VNMKING
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Member # 480
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posted
Who else wants to start making money...?
-------------------- 65’ Coupe 94’ Cobra "VNMKING"
Posts: 1000 | From: Roseville, CA | Registered: Oct 2001
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cobraracer46
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Member # 1142
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posted
quote: Originally posted by T-TopTerror: cobraracer46-
stop putting in you 2 cents. More people on this board obviously know more about real estate than you. Do you own a home? Probably not. Hey, why don't you call me, I'll evaluate your currents situation and see if we can get you into some real estate. At least you'll be making money with huge tax breaks like the rest of us.
You are right, I do not own a home and for good reason, because I want to buy a home in San Francisco and right now SF is very expensive, so my plan is to build up cash. Sure I can go to plain and boring the central valley and buy a bland cookie cutter stukko home with a forward facing garage for way less than a real home in SF and deal with 4 hours of commuting like some dumb unhappy home owners I know, But no not me, I'll stick to renting buy the beach and bicycle riding to work. Second I would like to remind people that t top terror is crazy and recless to put debt ridden people with no savings into homes. Think about this, That new home owner sitting on top of a mountain of debt, a mortgage exceeding 25% of take home pay and no savings will be in for a world of hurt when a layoff or another loss of income takes place. Can you say forclosure, loose your home.
-------------------- 2001 SVT cobra convertible with a Viper T56, Fikse wheels, Griggs frame kit, roll bar, Vortech, 4:30 gears, brembo GT brakes and more.
Posts: 1172 | From: Woodside California | Registered: Apr 2002
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hidnn.o.s.
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Member # 1219
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quote: Originally posted by cobraracer46: quote: Originally posted by T-TopTerror: cobraracer46-
stop putting in you 2 cents. More people on this board obviously know more about real estate than you. Do you own a home? Probably not. Hey, why don't you call me, I'll evaluate your currents situation and see if we can get you into some real estate. At least you'll be making money with huge tax breaks like the rest of us.
You are right, I do not own a home and for good reason, because I want to buy a home in San Francisco and right now SF is very expensive, so my plan is to build up cash. Sure I can go to plain and boring the central valley and buy a bland cookie cutter stukko home with a forward facing garage for way less than a real home in SF and deal with 4 hours of commuting like some dumb unhappy home owners I know, But no not me, I'll stick to renting buy the beach and bicycle riding to work. Second I would like to remind people that t top terror is crazy and recless to put debt ridden people with no savings into homes. Think about this, That new home owner sitting on top of a mountain of debt, a mortgage exceeding 25% of take home pay and no savings will be in for a world of hurt when a layoff or another loss of income takes place. Can you say forclosure, loose your home.
CobraBoy, we all know you are a MORON and your knowledge is lacking. Find another thread to look stupid in. NO ONE wants your .01 (not worth .02) in this thread.
Way to "save" money by renting Einstein
-------------------- R.I.P. Willie G. You are missed on this forum
Posts: 15950 | Registered: Apr 2002
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JoeT
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Member # 298
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I think the only "MORON" is the one who blindly assumes that home ownership is their ticket to financial well-being regardless of market circumstances.
-------------------- 1984 Ford Tempo AOD--- RIP
Posts: 6785 | From: San Jose | Registered: Jun 2001
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hidnn.o.s.
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Member # 1219
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quote: Originally posted by JoeT: I think the only "MORON" is the one who blindly assumes that home ownership is their ticket to financial well-being regardless of market circumstances.
ok, RENTER
I think the only "MORON" is the person who thinks it is "SMART" to "THROW AWAY" $1,500 a month as you suggested earlier on rent IF they can manage a mortgage payment.
25% is a stupid dream cobra boy has
Anyone who invests in anything blindly is a moron, so your statement does not hold much water in the current context. [ March 25, 2005, 09:21 AM: Message edited by: hidnn.o.s. ]
-------------------- R.I.P. Willie G. You are missed on this forum
Posts: 15950 | Registered: Apr 2002
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twisted54
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Member # 1981
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I once had alot of debt and bad credit...but thanks to buying a home when they were fairly cheap I was able to get out:
2001 bought a home in Antioch for 299k w/no money down and sold if for 499K in 2004. I paid off all school loans, a 03 Galant and my stang and not to mention all the other misc bills I had.
We just bought another house for 535k put a pool in and if I'm not mistaken the value has gone up about 100k in last 8 months. That's according to all the other comparible homes in my neighborhood.
To Home Investments [ March 25, 2005, 09:21 AM: Message edited by: twstd5o ]
-------------------- 2013 Black on Black 5.0 with Boost N Things - CORN FED 🌽
Posts: 3421 | From: ebay | Registered: Oct 2002
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hidnn.o.s.
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Member # 1219
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quote: Originally posted by twstd5o: I once had alot of debt and bad credit...but thanks to buying a home when they were fairly cheap I was able to get out:
2001 bought a home in Antioch for 299k w/no money down and sold if for 499K in 2004. I paid off all school loans, a 03 Galant and my stang and not to mention all the other misc bills I had.
We just bought another house for 535k put a pool in and if I'm not mistaken the value has gone up about 100k in last 8 months. That's according to all the other comparible homes in my neighborhood.
Nice work
-------------------- R.I.P. Willie G. You are missed on this forum
Posts: 15950 | Registered: Apr 2002
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JoeT
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Member # 298
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quote: Originally posted by hidnn.o.s.:
I think the only "MORON" is the person who thinks it is "SMART" to "THROW AWAY" $1,500 a month as you suggested earlier on rent IF they can manage a mortgage payment.
Maybe you should re-read what I wrote? $1500 in rent was simply an investment in living expenses. Take the difference in mortgage+property taxes+insurance - rent and invest that in whatever you choose, be it real estate( multi-family dwellings, single family, REIT, your pick), enron stock, gold, or fox stangs without the red interior.
-------------------- 1984 Ford Tempo AOD--- RIP
Posts: 6785 | From: San Jose | Registered: Jun 2001
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twisted54
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Member # 1981
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someone once told me:
"why rent and build up someone elses nest egg when you can own and build up your own nest egg"
-------------------- 2013 Black on Black 5.0 with Boost N Things - CORN FED 🌽
Posts: 3421 | From: ebay | Registered: Oct 2002
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stangless
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Member # 1414
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Owning a home is the way to go. however, what i thnik cobra racer is saying is to not get into huge debt (450k+ in the bay area) if you are already struggling with monthly payments because of other CC bills or whatever else. Let's be realistic. You buy a home(550k) in the bay area with %10 down. that means you need at least 50k. cash.. there went your savings.. on top of that you need at least 3k for morgage.. and 6k at the end of the year for property taxes, don't forget the mandatory house insurance.. about 2k per year. SO.. ultimately you need and income of 3.5k for cover expenses.. not including utility bills etc etc.. If you have car payments and insurance.. add another 500 to that(at lest) so.. if you barely make 4k a month.. a house might be our of your reach unless you rent and really no how to manage your budged well... or you can go "to a galaxy far far away" and commute for hours and be just fine.
Don't get me wrong.. i am all up for buying a house.. shiat.. i a want to buy a house now.. i just wouldn't be able to afford the monthly payments..
-------------------- =(
Posts: 4634 | From: bay | Registered: Jun 2002
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hidnn.o.s.
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Member # 1219
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quote: Originally posted by twstd5o: "why rent and build up someone elses nest egg when you can own and build up your own nest egg"
AMEN
-------------------- R.I.P. Willie G. You are missed on this forum
Posts: 15950 | Registered: Apr 2002
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cobraracer46
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Member # 1142
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quote: Originally posted by Jmir018: Owning a home is the way to go. however, what i thnik cobra racer is saying is to not get into huge debt (450k+ in the bay area) if you are already struggling with monthly payments because of other CC bills or whatever else. Let's be realistic. You buy a home(550k) in the bay area with %10 down. that means you need at least 50k. cash.. there went your savings.. on top of that you need at least 3k for morgage.. and 6k at the end of the year for property taxes, don't forget the mandatory house insurance.. about 2k per year. SO.. ultimately you need and income of 3.5k for cover expenses.. not including utility bills etc etc.. If you have car payments and insurance.. add another 500 to that(at lest) so.. if you barely make 4k a month.. a house might be our of your reach unless you rent and really no how to manage your budged well... or you can go "to a galaxy far far away" and commute for hours and be just fine.
Don't get me wrong.. i am all up for buying a house.. shiat.. i a want to buy a house now.. i just wouldn't be able to afford the monthly payments..
Finnaly, some one on this thread who is thinking ith a clear head
-------------------- 2001 SVT cobra convertible with a Viper T56, Fikse wheels, Griggs frame kit, roll bar, Vortech, 4:30 gears, brembo GT brakes and more.
Posts: 1172 | From: Woodside California | Registered: Apr 2002
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VNMKING
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Member # 480
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posted
TTT for the people who know about real estate or would like to learn...
-------------------- 65’ Coupe 94’ Cobra "VNMKING"
Posts: 1000 | From: Roseville, CA | Registered: Oct 2001
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