ArcticCrusher Posted August 2, 2020 Share Posted August 2, 2020 2 minutes ago, f7ben said: Possibly Call Woollie. Quote Link to comment Share on other sites More sharing options...
f7ben Posted August 2, 2020 Share Posted August 2, 2020 2 minutes ago, ArcticCrusher said: Call Woollie. No Quote Link to comment Share on other sites More sharing options...
teamgreen02 Posted August 2, 2020 Share Posted August 2, 2020 We have been at 2.75% for a few years now. About 12 years left on a 15. Will be nice to have it paid off. Quote Link to comment Share on other sites More sharing options...
awful knawful Posted August 2, 2020 Share Posted August 2, 2020 You guys still have mortgages? Can I ask your ages? My house was paid for at 40. Quote Link to comment Share on other sites More sharing options...
favoritos Posted August 2, 2020 Share Posted August 2, 2020 14 hours ago, ArcticCrusher said: Real estate ownership is so much better when properly leveraged. Leveraged properties also made some nice deals for buyers on that last kerfuffle. It still amazes me how much people will borrow based on hope. The low rates are really propping up the demand on housing inventory around our neck of the woods. It is a little surprising. I've seen some recent sales that looked terrible on paper. One of the properties nearby needs a ton of work to even match the market inventory. It still sold, new owners moved in without fixing the basics. I expect some discounts down the road on those type of properties. I agree with the principle of properly leveraged ownership. We would have a great consistent market if people used the concept. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted August 2, 2020 Share Posted August 2, 2020 45 minutes ago, awful knawful said: You guys still have mortgages? Can I ask your ages? My house was paid for at 40. What's your house worth? Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted August 2, 2020 Share Posted August 2, 2020 14 hours ago, f7ben said: Possibly definitely when it comes to financial things Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted August 2, 2020 Share Posted August 2, 2020 6 minutes ago, favoritos said: Leveraged properties also made some nice deals for buyers on that last kerfuffle. It still amazes me how much people will borrow based on hope. The low rates are really propping up the demand on housing inventory around our neck of the woods. It is a little surprising. I've seen some recent sales that looked terrible on paper. One of the properties nearby needs a ton of work to even match the market inventory. It still sold, new owners moved in without fixing the basics. I expect some discounts down the road on those type of properties. I agree with the principle of properly leveraged ownership. We would have a great consistent market if people used the concept. Good REITs do that well. I don't recommend it for average Joe's who get too greedy and leverage themselves too far. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted August 2, 2020 Share Posted August 2, 2020 48 minutes ago, awful knawful said: You guys still have mortgages? Can I ask your ages? My house was paid for at 40. silly to have house paid for when that money could have been invested in the market. i'm up over 200% on the money i got when i sold my camp in 2011. until the last couple of years I had tax benefits from that as well. I've got a 2.875% rate if i can't beat that in the market over time i'd be an idiot. I will pay it off early and not take it into retirement but until then i'll take the debt and I am a guy who hates debt. Everytime i try i car payment i have to pay it off because it gives me anxiety. Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted August 2, 2020 Share Posted August 2, 2020 52 minutes ago, awful knawful said: You guys still have mortgages? Can I ask your ages? My house was paid for at 40. I could have paid off my brand new 600k 3000 sq. ft. house at age 42 when I sold my portable toilet company. Instead i paid off my new F350 diesel, and invested the rest into another larger business. I should have paid off the house. Oh well. Quote Link to comment Share on other sites More sharing options...
ManOnManOral Posted August 2, 2020 Share Posted August 2, 2020 26 minutes ago, ArcticCrusher said: What's your house worth? average where he lives is about 150k Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted August 2, 2020 Share Posted August 2, 2020 32 minutes ago, Angry ginger said: silly to have house paid for when that money could have been invested in the market. i'm up over 200% on the money i got when i sold my camp in 2011. until the last couple of years I had tax benefits from that as well. I've got a 2.875% rate if i can't beat that in the market over time i'd be an idiot. I will pay it off early and not take it into retirement but until then i'll take the debt and I am a guy who hates debt. Everytime i try i car payment i have to pay it off because it gives me anxiety. Today a million $$$ mortgage will cost you about 50k a year to carry in nookvillve. That's about split 25k P and 25k Interest of which 1/2 that interest is deductible so 37k really to carry that. With a million invested it's real easy to get 8% with a tax efficient return of capital cash flow for a net 43k gain per year while maintaining capital appreciation on your real estate and investment. We can't write off interest payments on residential regular mortgages otherwise. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted August 2, 2020 Share Posted August 2, 2020 1 hour ago, awful knawful said: You guys still have mortgages? Can I ask your ages? My house was paid for at 40. What’s property taxes on a lean-to? Quote Link to comment Share on other sites More sharing options...
spin_dry Posted August 2, 2020 Share Posted August 2, 2020 45 minutes ago, Angry ginger said: silly to have house paid for when that money could have been invested in the market. i'm up over 200% on the money i got when i sold my camp in 2011. until the last couple of years I had tax benefits from that as well. I've got a 2.875% rate if i can't beat that in the market over time i'd be an idiot. I will pay it off early and not take it into retirement but until then i'll take the debt and I am a guy who hates debt. Everytime i try i car payment i have to pay it off because it gives me anxiety. Yes it is. Provided an individual is disciplined Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted August 2, 2020 Share Posted August 2, 2020 1 minute ago, ArcticCrusher said: Today a million $$$ mortgage will cost you about 50k a year to carry in nookvillve. That's about split 25k P and 25k Interest of which 1/2 that interest is deductible so 37k really to carry that. With a million invested it's real easy to get 8% with a tax efficient return of capital cash flow for a net 43k gain per year while maintaining capital appreciation on your real estate and investment. We can't write off interest payments on residential regular mortgages otherwise. with the new tax laws very few here benefit anymore with the interest deduction, better to just take the standard. That has changed my feeling some on the need to carry the mortgage but I won't pay it off till retirement. When I sell this in 3-4 years the next will get a 12-15 year note to time out at retirement age. I see no reason to carry a tradition mortgage into retirement although I do believe for many a reverse mortgage is a great tool to live your best life in retirement but that is because i don't believe anyone's owed an inheritance. WHen my parents die i will need to refi off their reverse mortgage into something different which i will most likely do rather than selling the place. Sure I'll lose out on 170 grand but much better my parents got their 3-5 weeks a year on cruise ships than giving me a few bucks. Quote Link to comment Share on other sites More sharing options...
awful knawful Posted August 2, 2020 Share Posted August 2, 2020 1 hour ago, ArcticCrusher said: What's your house worth? Probably $200k Quote Link to comment Share on other sites More sharing options...
awful knawful Posted August 2, 2020 Share Posted August 2, 2020 46 minutes ago, spin_dry said: What’s property taxes on a lean-to? Ask p550. Quote Link to comment Share on other sites More sharing options...
ManOnManOral Posted August 2, 2020 Share Posted August 2, 2020 34 minutes ago, awful knawful said: Probably $200k Are the taxes high in NB in general. I have heard they are. I know the real estate is a decent price and you get a lot for your money but have heard other expenses kill the savins as well as far lower wages. Quote Link to comment Share on other sites More sharing options...
awful knawful Posted August 2, 2020 Share Posted August 2, 2020 In general, yes. Saint John is terrible. Around here my village is less than the city. But they can't do fuck all right there. Quote Link to comment Share on other sites More sharing options...
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