Anybody know if murox. . .
- Thread starter MichiganHerd
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When all you’re left with is talking about another man’s junk, spelling, no one really believes a thing you type and everyone is laughing AT YOU. You’re the joke.
What’s with the apostrophe after ole, birthinghips? The correct way to write it is ol’ or ole. The apostrophe shows a letter has been omitted, you f’ckin’ retard.
You're nearly as bad at this as your hero. Need me to tell you which bank they were deposited in? I have two that I use for checking and savings, so it shouldn't be hard for you to verify.
You're still salty that you looked like a fool incorrectly arguing "were" vs. "was" last week, huh, Middle Class Murox?
Don't bring intelligence into this discussion. They couldn't build equity since they can't afford the properties to begin with. It's why those that can, live in California. Those that can't, live in West Virginia.
No, smart business people don't live in California. They live in Florida(TX, TN) . They might own property there but they don't live there.
You're greatly simplifying how state income tax and residences work. Take it from somebody who has a property in Florida and who can claim that about half of his work is done in a state with no income tax.
183 Day Rule for State Residency in Florida
Under the rule, the taxing states require that a person looking to declare residency in Florida must reside in Florida for at least 183 days (in other words, one day more than six months).
Now a lot of pro golfers live in Florida. Yes, weather. But, there is another reason.
Still doesn’t work. Check out why Derek Jeter lost that argument vs. the state of NY and why entertainers can’t avoid paying income taxes when they perform in different states.
Well Jeter played for the Yankees. Kid of hard to win that argument when baseball season runs April through October.
Also thar why NY is running people away.
If I took the same job I do now in DC, Charlotte or Orlando, my pay would immediately be bumped to fit the new market’s pay scale. Heck, I can afford it currently.
And you do realize that if you and @murox made the exact same payment on separate houses similar to what we have been discussing, that murox would gain equity at a much faster pace. Murox’s amortization would be much shorter and he would be on to the next house by the time you were 1/4 finished paying for your first one. He would end up with twice the equity in his properties to show for the same money spent.
Example:
Rifle gets a $1,000,000 loan for 30 years at 7% (that’s prime today) in California. Payment would be $6,653/month.
Murox gets a $500,000 loan at 7% in WV. It would only take a little over 8 years at $6,653/month to pay off that home.
Murox could wash, rinse and repeat almost 4 times in the same amount of time you are paying on one home. He now has 4 properties worth $2 million and you have 1 home worth $1 million. Technically both homes would be worth more because the bank isn’t lending 100% LTV. But the point remains.
And let’s say murox could only afford a $4,500 payment. Well...he pays on that one for 15 years and matches your equity, while paying $25,000 less per year to do it.
So...either way you slice it, you’re dead wrong. So is @johns1124 .
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Now let's return to reality. I'm building structures for cost that are apprising for twice my investment while birthinghips is buying imaginary property at retail. I built 6 townhouses in 2022 (and 4 under construction now) that appraised for $288,000 each. My loan is $480,000 over 15 years at 4%. Birthinghips' imaginary house was purchased at the top of the housing bubble and AT BEST has retained it's purchase value.
So my equity in one project that took 5 months to complete is over $1.2MM, more than the value of his imaginary Cali property that he will own in 30 years, and generates $12,000 month rent to cover a $3500 mortgage, netting an additional $100k+ in income per year.
Absolute clown. Tell me more about how investing in CA is smarter than investing in WV, dork.
@big_country90, What do you think of Dave Ramsey's suggestion to take a 15-year mortgate and pay it off in 10?
If you’re disciplined enough to actually pay the 10 year payment when you’re only obligated to pay a 15 year payment, then it’s great advice.
And, don't defer your payments during covid. Cough cough
Glad I didn't listen to that one
Wait, so first you're arguing that if you lived in a more expensive area, you'd make more money as part of your argument.
But then, you argue this:
With this, you're giving the West Virginian the benefit of the doubt twice - first by saying they can afford the same monthly payment even though you just argued that you don't make as much living in WV, but then you give the benefit of the doubt by using the lower priced real estate.
If you are not paid the same since your example lives in a lower cost of living area, it's illogical for you to then claim they are making the same mortgage payment.
And the fact that Murox the Moron liked your post proves once again just how fvcking poorly educated you guys are having lifelong WV educations.
Your entire argument is "if person B has a much smaller mortgage but pays the same as person A who has a much bigger mortgage, then person A will earn equity faster." Well, no shit, moron. But you can't argue what you did first and then make the assumption that you did after that.
What John Stephens argued was correct: assuming person A and person B have the same rate, same % down, same term, and person A has a mortgage twice as much as person B, person A will build more equity.
This is awesome. So he claims that my "imaginary" California houses were purchased at the height of the bubble, but then he claims . . .
. . . let me guess, you had them appraised yesterday at the lowest of housing prices over the last three years, huh? Moron.
I purchased one property in November '21. I purchased the second in late December '21. The market continued to climb for the next 6-8 months, and in my area, they climbed higher for another month or two due to the abundance of cash buyers who aren't impacted by increased rates and the sheer lack of housing in my small town which is a very desired place for families to live.
So even though I had numerous realtors coming to my house, one of whom I allowed to tour, telling me they could get $1 million for it, it has only dropped about 10% from that.
How has your $300k residence done?
First, I never made that claim. So when you try to boast about something, don't suddenly try concluding with a comment that makes it look like something I said justified you boasting, moron. Dumb and a liar . . . such a bad combination, which also is how you got caught cheating by your wife. Dumb and a liar.
But since you brought it up, yes, investing is far wiser in California than WV. Property values have historically grown much higher in CA than WV. Over the last 30 years, California housing has increased 310%. WV is barely half of that. Oh, and I own a property in the state with the highest climb over the last 30 years and properties in the state with the third highest climb in the last 30 years. WV . . . god, that's embarrassing.
But again, that's only if you can afford it, and you can't. It's why your "investments" of $280k and your $300k house is lower than ALL of my properties. Ask your friend BC for help if you need some proof of these houses. Again, he knew specifics of one that I never mentioned on here. A second one has been posted on here by others.
Jealousy is a bitch.
You do realize that that there are plenty of people in WV that can afford a $1 million loan, right? I make far more than the median income, as does murox. I can afford it now, much less if I move to a big city.
OK… Let’s see what happens in that scenario. Rather than building equity at four times the pace as you, murox will simply bank hundreds of thousands of dollars because his mortgage payment was so much lower than yours. Now, your net worth is the same (at best) , but his is predominantly liquid and yours is in real estate. Who’s better off?
Of course you would build more equity in a more expensive house if you both paid the exact term and the exact same interest rate. The point, though, is that if you both made the same payment, murox’s equity will accelerate at a much, much faster pace. Math is hard for you, I know, but it doesn’t lie. Same payment for both of you or same repayment term, he wins every time.
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Now, go back and look at what Stephens posted and what you contested: not if he wants to build equity.
The comment, Big Dummy, was about building equity. Nothing more, nothing less. You said that both of us were wrong with his statement; which is false.
Why is it so hard for you lifelong West Virginian educated hillbillies to follow an argument?
You are both wrong, and I proved it. Not sure why you keep arguing otherwise, other than it’s just your nature. If you make the exact same payment every month with your loan being double the amount as his, murox would build twice the equity as you over the exact same period. Those are indisputable facts. I just threw in the other scenario for fun. Either way, you’re both wrong.
What you’re not mentioning though is the volatility of your market. You better hope that you sell at a high point if you ever do sell. There are too many high and low swings in markets like California. That doesn’t happen in West Virginia. You have a much larger chance of your home’s value dropping significantly than we do, ever.
Add housing market ignorance to the list of things professionals have had to explain to birthinghips the tax cheat.
And not taking the market into account is ignorance. You can build a Mansion in the ghetto, but the value is just going to drop.
NY and CA are usually not synonymous with radical housing market swings.
is rifle buying high and selling low?
The key phrase is: "Since Respective peak". The So. Cal relative peak was in the '80s and early '90s. It's been on a slow upclimb since then. Is it growing at a rate like it was back then? No. Is it declining to the point of concern? Definitely Not.
Rifle just bought. The key is what kind of property and where? Residential has not been a good time to buy lately. High prices and it is going to slide downward now. Comercial or rentals my be a different story. But, itnerest rates are high. Just depends.
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The guy posts pictures of his shoes and clothes. Do you think for a second if he actually had some luxurious property
ANYWHERE he wouldn’t have posted 1000 pictures of it?
The tell is in the absence of information. Remember when we clowned him for a month about his condo in SLC? He could have snapped a picture of one of the models he’s banging drinking coffee at his breakfast table and destroyed any argument any of us made of him being a fraud.
Instead he posted pics from Zillow.
Yes I am, as you saw immediately after you typed this.
See?
And yes they are.
But that wasn't the discussion! Christ, your inability to follow a basic discussion is mind-blowing.
The argument wasn't that Middle Class Moron would make the same payment on a $400k house as on a $1 million house. That was the entire point of Stephens when he said he'd make more equity . . . because he is paying more!
So a market that has basically appreciated at the same rate of inflation is a better investment than one that has appreciated 2x? Brilliant. And this is why your wife has to work in her mid 40s, because you're too stupid to be able to support both of you in Huntington Fvcking West Virginia in your $300k house.
You have no idea what you're talking about. Both properties in California closed over a year ago. The market in Orange County continued to climb for another 5-7 months. I didn't "just bought." Both have rates lower than 3% and already have significant equity.
Middle-Class Murox, your lackey already posted that he knows of at least one of the properties. I'm guessing Banker or Raleigh were able to find the second property considering they posted a property for example in the exact town it is in on a street very close to mine. That's too coincidental.
So, why don't you ask them how they know about those properties? We know why - because you want to live in denial that at least two of my properties are twice as much as yours and two others are at least as much. Envy is a bitch.
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