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#691 |
2 Legit 2 Colquitt
Join Date: Sep 2010
Casino cash: $4145754
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We just paid off our house this year that we bought in 2008 right before the crash. I don't hold any debt aside from month to month credit cards. We should hit $1MM net worth as soon as next year.
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Posts: 4,722
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#692 |
El Gato Gordo Loco
Join Date: Apr 2006
Location: Earth
Casino cash: $1971241
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I'm a poker player, man. It's well known we stink. Can't leave the table on a heater.
I pay a housekeeper. But if they could figure out some water bed I can lay in that would clean me while I sleep - sign me up.
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Posts: 46,497
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#693 |
El Gato Gordo Loco
Join Date: Apr 2006
Location: Earth
Casino cash: $1971241
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13 year paying off a house. Very nice. I think that is about the sweet spot versus going at it for 30 years. Congrats.
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Posts: 46,497
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#694 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $1854734
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Quote:
For personal expenditures it’s not a bad strategy who wouldn’t otherwise manage it. |
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Posts: 56,995
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#695 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $1854734
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Quote:
I have come to terms with the idea that from a practical perspective Ramsey’s stuff is probably good for those who would be irresponsible or otherwise wouldn’t manage personal expenses at all. From a technical perspective it’s inefficient at best. Garbage at worst. As far as the zealots, I manage to tune them out. Most of them shut up when I tell them I have an MBA and make capital and debt decisions based on perspective returns. Of all the shit that makes me ****ing crazy, Ramsey should be on it. But somehow it doesn’t ping the sonar. |
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Posts: 56,995
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#696 |
Cheat Death
Join Date: Nov 2007
Location: Land of Drincoln
Casino cash: $1828244
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EDIT: Is there an advantage to not putting 20% down?
Last edited by KCUnited; 06-16-2021 at 03:07 PM.. |
Posts: 34,189
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#697 | |
Would an idiot do that?
Join Date: Nov 2000
Location: Arizona
Casino cash: $2354931
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Quote:
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Posts: 55,800
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#698 |
Would an idiot do that?
Join Date: Nov 2000
Location: Arizona
Casino cash: $2354931
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Yeah, PMI is a ****ing scam and is a thing up to having 20% of the loan paid off... it may still make sense to throw $100-200 down the toilet for a while as opposed to rent, but that's one mental hurdle that's tough for me to get past because the whole concept is so ****ing stupid.
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Posts: 55,800
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#699 | |
Cheat Death
Join Date: Nov 2007
Location: Land of Drincoln
Casino cash: $1828244
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Quote:
EDIT: and also the timing of the housing market similar to '09, could make more sense to dive in without 20% Last edited by KCUnited; 06-16-2021 at 03:15 PM.. |
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Posts: 34,189
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#700 | |
El Gato Gordo Loco
Join Date: Apr 2006
Location: Earth
Casino cash: $1971241
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Quote:
__________________
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Posts: 46,497
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#701 | |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
Casino cash: $2858491
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Quote:
__________________
I'm putting random letters here as a celebration of free speech: xigrakgrah misorojeq rkemeseit. |
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Posts: 141,824
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#702 | |
Would an idiot do that?
Join Date: Nov 2000
Location: Arizona
Casino cash: $2354931
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Quote:
I'd guess it could be a ~$5-10k thing over a couple to 5 years, maybe... as opposed to renting over that time. Not the worst hurdle to overcome in the long run. If you already have 20% down available, there's the opportunity cost of what you could invest that money in versus avoiding the cost of PMI... and in that case it might make even more sense to put your money elsewhere and pay PMI (bastards! ![]() |
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Posts: 55,800
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#703 |
Has a particular set of skills
Join Date: Dec 2003
Location: On the water
Casino cash: $2679627
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Our house value has went up $240K in the last 2 years. No way a 401K gets that ROI.
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Time is worth more than money. |
Posts: 79,281
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#704 | |
El Gato Gordo Loco
Join Date: Apr 2006
Location: Earth
Casino cash: $1971241
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Quote:
Where has housing prices increased the most in the last few years at least in terms of percentage?
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Posts: 46,497
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#705 |
Would an idiot do that?
Join Date: Nov 2000
Location: Arizona
Casino cash: $2354931
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Posts: 55,800
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