West Coast Connection Forum
Lifestyle => Tha G-Spot => Topic started by: Matrix Heart on March 14, 2005, 12:35:22 PM
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Bought my first house today $479,000.
Paid off the owner and taking over payments on a house that was about to be foreclosed :banana_trippin: haha America is great ;D
I'm gonna fix it up a bit and start renting it out.
<Gonna be worth a quarter billion :D
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damm, you a hustler, good luck
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soz i dnt understand tis. did u buy the house for 479,00 or did u buy out the owner and is paying his mortgage?
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soz i dnt understand tis. did u buy the house for 479,00 or did u buy out the owner and is paying his mortgage?
Bought out the owner and taking over his mortgage...he had since 1990.
Current market value is 479k.
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so how much did you actually have to pay out to buy dude out ..
you're expecting the payments to be covered by renting it out ?
how long is left of the term.. another 10 years?
good investment for the future once you have it up and generating income.
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that's what I wanna do, I want to buy industrial buildings tho. no maintenence.
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SMart smart move. That's what I hope to be doing too. Buy property, start some businesses. Let people work for me ;D
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so how much did you actually have to pay out to buy dude out ..
you're expecting the payments to be covered by renting it out ?
how long is left of the term.. another 10 years?
good investment for the future once you have it up and generating income.
14 years left, payed 45k and 7k in deqliuent fees :D
San Diego home rent is around 2k.
What I really want to do is construct and sell condos/townhouses on a small scale :o
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that's what I wanna do, I want to buy industrial buildings tho. no maintenence.
How will there be no maintenence?
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that's what I wanna do, I want to buy industrial buildings tho. no maintenence.
How will there be no maintenence?
An industrial builing only needs walls and a roof. I'd put heat and basic wiring in it, but after that, the tennant pays for everything else. It isn't maintenence free, but it's a lot less work than residential or commercial.
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An industrial builing only needs walls and a roof. I'd put heat and basic wiring in it, but after that, the tennant pays for everything else. It isn't maintenence free, but it's a lot less work than residential or commercial.
You gotta take care of the landscaping, snow removal (if necessary), parking lot, painting and fire & security systems but it would be less work than an apartment building or condo.
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An industrial builing only needs walls and a roof. I'd put heat and basic wiring in it, but after that, the tennant pays for everything else. It isn't maintenence free, but it's a lot less work than residential or commercial.
You gotta take care of the landscaping, snow removal (if necessary), parking lot, painting and fire & security systems but it would be less work than an apartment building or condo.
They're all tax write offs...you can contract a company that does ground work (cleaning/landscape) the rest you can hire yourself.
Now my cell phone bills will be free :D time for an upgrade.
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i own 3 houses here in aust. a few years ago our government was giving people money towards building houses etc, so i took advantage of it. i live in one, have people living in the other 2 and it's ok. their rent is double the mortgage payments, which puts plenty of $ aside for other shit that needs doing if something goes wrong
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i got a house. i bought it for 125,000. its a nice house 2br/2bath and i got a nice job to pay for it.
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Bought my first house today $479,000.
Paid off the owner and taking over payments on a house that was about to be foreclosed :banana_trippin: haha America is great ;D
I'm gonna fix it up a bit and start renting it out.
<Gonna be worth a quarter billion :D
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how are you going to make $249521000 off of a $479,000 property?
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Bought my first house today $479,000.
Paid off the owner and taking over payments on a house that was about to be foreclosed :banana_trippin: haha America is great ;D
I'm gonna fix it up a bit and start renting it out.
<Gonna be worth a quarter billion :D
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how are you going to make $249521000 off of a $479,000 property?
<<<<<It's a joke based on what Cam'ron said Sizzerup would make him 8)
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oh
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College is for suckers all the easy money is in real estate 8) whata waste.
I'm gonna take out a loan to pay off another owner :D
http://www.realtytrac.com/freeSearchResultAlt1.asp?a=b&zipOnly=true&zipCode=San%20Diego&Submit22=Search
^the "amount" is how much the owner is behind their mortgage
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so do you do the maitenance (like plumbing or whatever problems should arise) or do you hire somebody?
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so do you do the maitenance (like plumbing or whatever problems should arise) or do you hire somebody?
Yes with home owners insurance if it's that serious.
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The new title makes me sad :'(
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dont ya have any form of capitol gains tax in the us ?
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dont ya have any form of capitol gains tax in the us ?
Yeah but there are ways around it.
http://www.fool.com/taxes/2000/taxes000428.htm
The new title makes me sad :'(
lol well they make you take 2 years of bullshit G.E. classes in college (13th & 14th grade) >:( and the last grade of High School is a total waste of life.
Ah well I don't care this is my last semester of college, REAL ESTATE is my minor.
:banana_llama:
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college is for suckers, the real money is in electrcity
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college is for suckers, the real money is in electrcity
Doing what with electricity ?
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wiring up buildingsi make 55k/year plus 25% retirement
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wiring up buildingsi make 55k/year plus 25% retirement
That requires working :P and you have a boss :monkey_piss:
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selling houses dont give you free health ins. or retirement.
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college, high school, middle school, and elementary are for suckers.......the real money is in drugs
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college, high school, middle school, and elementary are for suckers.......the real money is in drugs
or TV evangelist
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i used to want to be a televanglist when i was young but i always hatted goin to church so i thought that would be a bad idea. but they do make money
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in exchange for their soul
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selling houses dont give you free health ins. or retirement.
Well I don't sell houses yet but I'm sure health care can be a tax write off.
12 Often overlooked tax deductions
http://www.bankrate.com/brm/news/biz/tax/20011022a.asp
SUV write off ;D maybe I can get a hybrid SUV :cow:
http://moneycentral.msn.com/content/Taxes/P48468.asp
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thats my plan to get me through college
to do real estate, getting my real estate liscense in the summer i'll be finished all the courses i need grind for a year making as much money as i can then invest it in a couple properties around here and rent them out until they get paid off
then sell them at a higher value
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i agree with that.. im going into Real Estate and im gunna also be a loan rep. this summer im taking the Real Estate classes, im gunna also go 2 Community College just to take a few classes that would make my Real Estate better like Business & all that.. ima be riccccccccccch!!!
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thats my plan to get me through college
to do real estate, getting my real estate liscense in the summer i'll be finished all the courses i need grind for a year making as much money as i can then invest it in a couple properties around here and rent them out until they get paid off
then sell them at a higher value
Read my prior posts...that's the best way to make money if you want to rent out.
I probably keep renting out my place forever ;D because it's near SDSU and I'm sure SDSU is not going anywhere.
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Hmm, there's some stupidity floating around this thread. First, what do you do when you go 2 or 3 months with no renters? You fall way behind on the bills. What do you do with the 10 grand worth of damage they did to the property before they left? You fall way behind on the bills. You're in way over your head, unless you're making, oh, 100 grand a year. If you're not making 100 grand a year, you have no business buying a half million dollar house.
SUV write offs? Are you seriously that stupid? Lemme get this straight. You're gonna pay 50 grand to buy an SUV, just so you can deduct it from your income? So... BEST case scenario, lets say you can deduct the full thing! 100% (which is ludicrious)... even if you could deduct 100% of the payment from your taxable income, that's like spending 100% of your money, to save the 24 percent of your money they would have taxed. You just gave away a dollar, to keep from giving the government 24 cents. Nice going genius, keep at it!
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Hmm, there's some stupidity floating around this thread. First, what do you do when you go 2 or 3 months with no renters? You fall way behind on the bills. What do you do with the 10 grand worth of damage they did to the property before they left? You fall way behind on the bills. You're in way over your head, unless you're making, oh, 100 grand a year. If you're not making 100 grand a year, you have no business buying a half million dollar house.
SUV write offs? Are you seriously that stupid? Lemme get this straight. You're gonna pay 50 grand to buy an SUV, just so you can deduct it from your income? So... BEST case scenario, lets say you can deduct the full thing! 100% (which is ludicrious)... even if you could deduct 100% of the payment from your taxable income, that's like spending 100% of your money, to save the 24 percent of your money they would have taxed. You just gave away a dollar, to keep from giving the government 24 cents. Nice going genius, keep at it!
lol @ Trauma ;D
I can live there while I look for tenants...I move in April 15.
I have had the house inspected twice and there are no damages just replacing alotta material (carpet etc...)
My uncle is a mortgage broker he's helping me out with advice.
I'm not gonna buy a SUV yet I just thought it was an interesting article...if I become a full-time real estate agent I might look into it ;D read the article.
Single
Taxable income is over But not over The tax is..........Plus Of the amount over
$0................................$7,150................$0.00............10%.......$0
7,150............................29,050................715.00..........15%........7,150
29,050..........................70,350................4,000.00........25%......29,050
70,350..........................146,750..............14,325.00...... 28%.......70,350
146,750.........................319,100..............35,717.00......33%......146,750
319,100................................................92,592.50..... 35%.......319,100
Don't worry about it trauma but here are the tax brackets ;)
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yea my plan is to work as a real estate sales rep for like a year or 2 and then see where i'm at
if i can afford the money for a downpayment on a house i;d do it because the area i live in the need for real estate is huge
so we'll see gonna take it slowly and not jump ahead of myself
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This man is corrrect.....Real Estate is where the money is at.
I know too, because I myself am a Real Estate Agent.
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im curious......heres a question for u real estate agents and wannab's........whats the average salary of a real estate agent?
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im curious......heres a question for u real estate agents and wannab's........whats the average salary of a real estate agent?
there isnt an average salary, because you get paid on commissions. It just depends on how hot the market is, or how well you market yourself.
But, its typically very good money. Especially in California.
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Who do you work thru? ^
im curious......heres a question for u real estate agents and wannab's........whats the average salary of a real estate agent?
2-8% commision
And the median cost of a home in San Diego is $510,000.