Mag6240 Posted April 17 Share Posted April 17 My son just turned 27, has gone from the new guy in a 25 person company to #4 as the Production Manager of a now company staff of 35 in just 3 years. Puts in 50-55 hours a week and gets paid for his OT. He is now training new people, directing work loads, and doing quite well - but is still far short of what he feels he needs for a small starter home here in the Twin Cities ($300k is a tough find around here). Paid off all his student loan debt when payments were paused, paid cash for a decent reliable car ($14k Accord) and is closing in on the 20% down saved up he wants to have when buying. He has done a fair amount of research, and unfortunately renting makes more financial sense than buying at the moment. 3 Quote Link to comment Share on other sites More sharing options...
Gold Member 800renegaderider Posted April 17 Author Gold Member Share Posted April 17 2 minutes ago, Mag6240 said: My son just turned 27, has gone from the new guy in a 25 person company to #4 as the Production Manager of a now company staff of 35 in just 3 years. Puts in 50-55 hours a week and gets paid for his OT. He is now training new people, directing work loads, and doing quite well - but is still far short of what he feels he needs for a small starter home here in the Twin Cities ($300k is a tough find around here). Paid off all his student loan debt when payments were paused, paid cash for a decent reliable car ($14k Accord) and is closing in on the 20% down saved up he wants to have when buying. He has done a fair amount of research, and unfortunately renting makes more financial sense than buying at the moment. Bull shit I seen here his age group spends all their money on delivery pizza, coffee and 1k car loans. I’m sure his hard work will pay off soon 👍. 1 Quote Link to comment Share on other sites More sharing options...
Voodoo Posted April 17 Share Posted April 17 1 hour ago, Mainecat said: How about today’s millennial family unit? Husband/wife or girlfriend/ boyfriend procreate. They don’t stay together under the same roof or at all. Dad moves out and splits custody of their 2 kids. Now dd needs a 2 bedroom and mom does to. Ya see why there is not a housing shortage but a family unit problem? Smartest thing I've seen you say....but there is still a housing shortage. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 17 Share Posted April 17 22 minutes ago, Mainecat said: When your 30 years old and your paying someone to spray for mosquitoes your pretty much a namby pamby LOOZER. well... yeah, pretty much. 21 minutes ago, MILFMAN said: Agreed. Blue collar and getting dirty was looked down upon for too long. Schools told everyone they needed to go to college.....Look how that has turned out. Taxpayers are now having to pay the loans.. Now it is coming back the other way. Blue collar is starting to kill it now! my father was a 'shop teacher' I saw it all firsthand. it wasn't just college either... apparently we now have a bunch of unemployed $200k p/y IT people to worry about. right @Bontz and @Matt? 21 minutes ago, Mainecat said: Asians work their asses off. the first generation Hmong refugee in our area did, they also had fantastic family values and strong sense of community. the current younger generations have mostly acclimated to acting like every other entitled white person though. Merika! Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 17 Share Posted April 17 6 minutes ago, Voodoo said: Smartest thing I've seen you say....but there is still a housing shortage. There’s a root cause of it and my reason for it. The neighborhood I grew up in had about 30 families all parents living together in those homes. Today maybe 5 in the homes are married and the rest of them containing single parents whose spouses live elsewhere taking up scarce living spaces causing the housing shortage. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 17 Share Posted April 17 28 minutes ago, Mag6240 said: My son just turned 27, has gone from the new guy in a 25 person company to #4 as the Production Manager of a now company staff of 35 in just 3 years. Puts in 50-55 hours a week and gets paid for his OT. He is now training new people, directing work loads, and doing quite well - but is still far short of what he feels he needs for a small starter home here in the Twin Cities ($300k is a tough find around here). Paid off all his student loan debt when payments were paused, paid cash for a decent reliable car ($14k Accord) and is closing in on the 20% down saved up he wants to have when buying. He has done a fair amount of research, and unfortunately renting makes more financial sense than buying at the moment. someone raised him right 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 17 Share Posted April 17 4 minutes ago, Crnr2Crnr said: well... yeah, pretty much. my father was a 'shop teacher' I saw it all firsthand. it wasn't just college either... apparently we now have a bunch of unemployed $200k p/y IT people to worry about. right @Bontz and @Matt? the first generation Hmong refugee in our area did, they also had fantastic family values and strong sense of community. the current younger generations have mostly acclimated to acting like every other entitled white person though. Merika! The Vietnamese bought most of the delapated multi family neighborhood homes in Lowell, MA and rehabbed them. They brought their families over eventually. We had a Cambodian husband and wife working for us and they both had 3 jobs. Full time with us and 2 part time jobs. Their proudest day was when they became US citizens. Fuckin immigrants. 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 17 Share Posted April 17 TRUMP!!!!!!! this thread had gone too far without that... Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 17 Share Posted April 17 1 minute ago, Mainecat said: The Vietnamese bought most of the delapated multi family neighborhood homes in Lowell, MA and rehabbed them. They brought their families over eventually. We had a Cambodian husband and wife working for us and they both had 3 jobs. Full time with us and 2 part time jobs. Their proudest day was when they became US citizens. Fuckin immigrants. been to a construction job site lately? lot of non-whites... except for the union boys. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 17 Share Posted April 17 42 minutes ago, Crnr2Crnr said: are there no fixer-uppers in undesirable areas? two things ruined that market imo, house flippers and the 'youth' don't know how to fix anything themselves. dealing with renters in a multifamily complexes it's easy to quickly identify people who should be renters as many don't have a f'ng clue about maintenance, repair, remodeling, etc. of a home. IDK if it's the same where you are but we've raised a society of people incapable of doing very little for themselves. Not under a million. You really need to go out to the sticks. I used to own rental homes (long term) over 30 years ago, and used to rent my cottage (short term). I'm done with that. Last bold, yes I have to agree, most wouldn't know how to change a fuse, luckily my son is pretty good with cars and such. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 17 Share Posted April 17 14 minutes ago, Crnr2Crnr said: well... yeah, pretty much. my father was a 'shop teacher' I saw it all firsthand. it wasn't just college either... apparently we now have a bunch of unemployed $200k p/y IT people to worry about. right @Bontz and @Matt? the first generation Hmong refugee in our area did, they also had fantastic family values and strong sense of community. the current younger generations have mostly acclimated to acting like every other entitled white person though. Merika! Well someone has to program those access cards. Ever been to a datacenter? Some even have metal detectors in and out. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 17 Share Posted April 17 43 minutes ago, Voodoo said: We pay tax on mortgage interest , you do not. We can sign a mortgage for no more than really 5 years, and then are subject to the new rate at the time. We do not pay capital gains on a primary residence. All else is subject. Our dope, yesterday made the capital gain rates %66.7, after a $250k exemption, in an effort I believe to get people to sell a second home. My entire net worth is tied up in my primary residence, and an RRSP..what you would call a 401k. It won't effect me, but it will others. When a boomer sells his second home, say a cottage it's usually to pass the money down to his children. That additional tax will just take money from a gen Z or younger. Our idiot just doesn't think. Not yet, but that will change. How long before that 250K exemption is eliminated? Trudeau has surpassed his father for the worst PM in the history of the country. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 17 Share Posted April 17 16 minutes ago, Mainecat said: The Vietnamese bought most of the delapated multi family neighborhood homes in Lowell, MA and rehabbed them. They brought their families over eventually. We had a Cambodian husband and wife working for us and they both had 3 jobs. Full time with us and 2 part time jobs. Their proudest day was when they became US citizens. Fuckin immigrants. That's cause you pay shit. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 17 Share Posted April 17 2 minutes ago, ArcticCrusher said: That's cause you pay shit. You know this how? Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 17 Share Posted April 17 14 minutes ago, ArcticCrusher said: Not under a million. You really need to go out to the sticks. I used to own rental homes (long term) over 30 years ago, and used to rent my cottage (short term). I'm done with that. Last bold, yes I have to agree, most wouldn't know how to change a fuse, luckily my son is pretty good with cars and such. three multi families left to deal with... there will be no more after those. thank God they're paid for. 11 minutes ago, ArcticCrusher said: Well someone has to program those access cards. Ever been to a datacenter? Some even have metal detectors in and out. nope... but the TSA people find me funny during a pat down Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 17 Share Posted April 17 5 minutes ago, Crnr2Crnr said: three multi families left to deal with... there will be no more after those. thank God they're paid for. nope... but the TSA people find me funny during a pat down There's no $$$ in long term rentals but there is in short term if you want the hassle. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 17 Share Posted April 17 9 minutes ago, Mainecat said: You know this how? The shadow knows. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 17 Share Posted April 17 1 minute ago, ArcticCrusher said: There's no $$$ in long term rentals but there is in short term if you want the hassle. when they're paid for and waterfront... quite lucrative short and long term. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Steve753 Posted April 17 Platinum Contributing Member Share Posted April 17 4 minutes ago, ArcticCrusher said: There's no $$$ in long term rentals but there is in short term if you want the hassle. What hassle? I rented my summer place out on abnb all winter. No hassle at all. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 17 Share Posted April 17 5 minutes ago, Steve753 said: What hassle? I rented my summer place out on abnb all winter. No hassle at all. OK then. Who checks the place after each renter. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 17 Share Posted April 17 10 minutes ago, Crnr2Crnr said: when they're paid for and waterfront... quite lucrative short and long term. For short term you can get in one month what you will get a year for long term. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted April 17 Share Posted April 17 3 minutes ago, ArcticCrusher said: For short term you can get in one month what you will get a year for long term. it's a long story... let's just say I'll be writing in the sand in front of our own house in the Bahamas in the next eleven years. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Steve753 Posted April 17 Platinum Contributing Member Share Posted April 17 13 minutes ago, ArcticCrusher said: OK then. Who checks the place after each renter. My neighbor. I pay him. Quote Link to comment Share on other sites More sharing options...
sleepybrew Posted April 17 Share Posted April 17 35 minutes ago, Crnr2Crnr said: three multi families left to deal with... there will be no more after those. thank God they're paid for. nope... but the TSA people find me funny during a pat down my buddy is a tsa agent at the local airport. my other buddy thought it would be funny to mess with him. so e walks up to him acts strange and asks "you guys aren't gonna strip search me are ya?" . tsa guy said "mike if you don't get away from me they are gonna tackle you and you are gonna miss your flight" . he backed off Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 17 Share Posted April 17 17 minutes ago, Crnr2Crnr said: it's a long story... let's just say I'll be writing in the sand in front of our own house in the Bahamas in the next eleven years. I would never own a property in a shithole country like Bahamas. Quote Link to comment Share on other sites More sharing options...
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