no breaking law when sleepy time

it's bed time

@Angry. gn king

yes, it's not a bad thing to have a high credit score

gn nick

Ok I'll get a credit card

dude you need credit to get a mortgage

Last time I asked you guys you told me not to

@Medman gn Chief

and a mortgage is basically FREE MONEY

"A mortgage is free money"

i only nighted my king angry, stfu boomer 😤 😤 💯 💯

use it for 1 thing and 1 thing only. food or fuel

interest rates are so low, its literally a giveaway

I drive a shitty car, I don't even care. Only time I plan to use my credit score will be to buy a house in a couple years

Ok now I know you're fucking with me

what i mean is, if you can invest money in stocks at 8%, and get a mortgage for 3%....

a mortgage is an amazing financial tool

Balls sweaty

if used wisely

Mum spaghetti

yes

<:dab:395562678153904128>

MUM SPAGHETTI

in the US mortgage tax advantages are fantastic

don't use credit card for dumb shit like tvs and toys. use it just for groceries and live within your means and pay your bill every month

he's on the nervous, but on the surface he looks spaghetti

I have a relative who has been in debt for 30 years because he took out a mortgage loan on a house that was literally built by his father

no taxes on interest, the principal is just you saving for your future

The debt keeps increasing because of interest rates

sheiiit. I wanna buy a house

thats because they're not intelligent leaf

I'm considering buying a duplex on first home buyers loan, and renting one side out

are they doing cash out refinance for fancy vacations?

live there for a couple years, then move on

if you do a cash out refinance use it to buy a SECOND investment property

not for shitty stuff

They can't afford vacations lol

They're just above the poverty line

Never been able to fully pay off their debts but always paying portions

yeah if you live in a house 2 years, you get ZERO capital gains tax on the appreciation up to 250k-500k

Such retards

Yet the debt keeps rising

Tbh somebody who cant prevent themself from smoking probably shouldn't be trusted with credit

Literally being raped by Jews

the debt only keeps rising if he get something like an ARM or interest only loan

baste

Shut up downfall

what's a typical mortgage payment?

joos dealing with the c*nucks

i actually studied to be an actuary

Debt is not inherently bad but it there is a predatory industry surrounding it

so i know how to do all the mortgage/financial calcualtions by hand

So if you're stupid dont take any credit

Dunno exactly I never asked the particulars of his mortgage payments lol

its just a simple geometric series formula

I'm neurotic as hell when it comes to money

Like terrified that I'm being financially exploited at every turn lol

smoke, i can help you compute any of those amounts, you just need to input downpay % and house price

y all old af lmao im so young i don't give a fuck about dis all

So I don't think I'd end up in that situation

And yet you spend it on purposefully giving yourself preventable diseases

Eh smokes are cheap

I get like 5 cartons, 5 month supply for like $40

Degenerate

Because the Redskins sell them to white men for cheap

you can do all these computations in excel too

I'm being Jewed by Jews and Frenchmen and Injuns <:wojack:396042478530330624>

@fuguer idk, typically down payment is like 10%?

housing is going up like crazy in my area, makes me not want to buy, but probably will keep rising

Wouldn't it be cheaper and safer to just buy land and build a house

20% is the best downpayment if you can swing it because you dont pay PMI (mortgage insurance)

Yes, not sure if I want to buy in a quickly growing city, or buy land/house rurally

and work remote

are you gonna build the hosue with your own hands or hire people?

20%... bruh

its a lot easier to finance construction of a house

Gonna pay people

20% is a lot. I need like 40k for a 200k house

Probably just get help from family and do as much as I can by myself

https://www.youtube.com/watch?v=8WSL1r0GhWQ

i had 40k saved up when i was still in grad school

you can save it if you prioritize

I have lots of men employed in trades and construction in my family

you can get these picks from harbor freight for 99c

So I could get help easily

anyways you can do 10% purchase, just 20% is optimal

it all comes down to your local market

Yeah, I mean, 10-15% is doable

and dont let perfect become the enemy of good

Lol I'm pretty sure I was breast fed

heres the thing smoke... if housing prices go up that means you should buy

because as prices go up, if you're a renter you're fucked, if you own you're golden

everyone is born "short" a roof over their heads, its a risky position to be in

the safest position is to own your own home

for me i was terrified of being priced out of where i grew up and forced to move

Yes... my area will be expensive eventually. I think if I were to buy here I'd buy a duplex or something, and then eventually move out of the city

yeah duplex can be great, sometimes i wish i did that

i still only have my primary house, my goal is to have an investment property

with a duplex you get both at once

yes, I wish some boomer plague would come so I could get some cheap real estate <:towelsweat:552805059042344960>

i kept waiting all through the last housing crash prices didnt drop that much

if you're in a bubbley area, far from jobs prices can crash

if you're in a rock solid area, they wont drop much

another protip, usually you can refinance 6 months after you buy your house and get a better interest rate

If you inherit a house and land would you also inherit all related debts?

they give a better rate to you on refi because you've already shown you can be trusted to pay for a few months

no

totally depends on the will

What happens to the debts?

good question, depends on the laws

I've often worried about this

I might inherit my great grandfather's house

sometimes houses are immune from debts, but only in certain places like florida

Talking about this just reminded me that I'm the heir to my brother's assets and my father's assets

yeah i think usually they settle the estate, and creditors may get their cut of bills due

Ok

it really depends on your local laws

I need to research the law

I don't want to be fucked with debt

tell your grandpappy to not be such an irresponsible lowlife with his debts

well you can never inherit debts

Don't talk about my grandpa like that

worst case you just get zero inheritance

https://gfycat.com/lawfullightheartedflyingsquirrel

Also he's not irresponsible technically he just has some mortgage debt

if thats all he has, hes fine

I just don't know if I could afford that in the near future

https://twitter.com/Nick_Fullerrrr/status/1188015935015096321

you can do the math, a 30 year amortized mortgage payment is a lot smaller than you think

i thought i heard canada even does like 40 or 50 year mortgages

Yeah I just don't know what the payments are like, if there is interest and what the rates are like, if I can even inherit debt in the first place, etc;

1. pull up property on zillow

2. estimate the debt amount he owes

3. do mortgage calculator

Ok

Ty

It's actually kinda lit tbh

If I killed a few relatives I would have millions of dollars and two properties

Two dozen acres of land, a small farm and two four story houses

😈 🔪

based duck redpilling zoomers about economics

heres an example, if he owes 200k at 30 years, around 3.6% thats less than $1k/month

That seems like a lot for me

when i hated my last job i would spend HOURS just making financial spreadsheets

If he died now I couldn't afford that

so i am really good at this

based

$900 is pretty cheap isnt it compared to rent?

i know here is expensive, but rent is like $3000 for a 1bedroom here

I pay $479 in rent monthly

ok, but also mortgage debt is tax deductible

at least in US it was

maybe not canada

Which covers all utilities, two bathrooms, 1 bedroom, kitchen and living room

also if you have time and willing to risk and have a little cap

https://www.youtube.com/watch?v=MHXL00wY3nY

buying one on lean

<:JFGOD:439598359628611604>

Bruh

wtf

backed tax gang gang

I don't do drugs

why do you have 2 bathrooms and 1 bedroom

the alt-right looks like olympic torch runners

based

Idk because the place I rented has two bathrooms

One main and one quest I guess

i guess it makes sense no one wants guests fucking with their toothbrush

puwu

$479 / month? is this subsidized by the government or do you live in an inuint fishing village?

Number #2

fishing village

<:CHAD:396569198404435969>

yeah dude even when i lived in kentucky and this was like 15 years ago, i was paying $550/mo

based igloo

Nah jk I live in the city I just got a good deal from a wealthy family that owns some properties

kentucky is based as fuck place to live

It's in a really shitty area

lucky dog

then you better up your income

just doesnot have much jobs

ah real shithole huh

the most important investment you can make is in yourself

So I assume this has something to do with the cost

and future earnings potential

Yeah literally two days ago I was walking to my grandmother's and came across literally ***hundreds*** of disposed syringes on the sidewalk

finish degree, take coursera, apply for new jobs, ask for raise

probably cheaper to rent to you for $500/mon and get their money than rent to some shysters for $1000/mon that only stiff them on the rent

Yes

I'm a good boy

Lol

hundreds jesus

i live near SF and i've never even seen that

dont lie duck

liquidate your inheritance, move to a nice neighbourhood or thailand or something

I might be exaggerating but at least dozens

<:tucker:587843675413807106>

worst i ever see is some poop or vomit

well maybe because your tech f-word

I've never seen poop lol

Sometimes vomit

<:steflol:561214382181318656>

i mean you always see vomit near bars

But yeah I do need to make more money

cmon

never be loyal

Most of my money is savings from when I worked under the table in construction with my dad and brother, some gibs from the government and part time wages working at a restaurant

to a company

you know hes right

if you're loyal its counterproductive theyll take you for granted not reward you

you need to make yourself as valuable as possible

I should go to the gym it's almost 8pm

yall still going on about dis lmao

dude finance is a fascinating topic

i could talk about it for hours

im not i just jump on her after the lsu vs auburn game

r u pumped up for next week? @Medman

thats how you know i really am 40

lol

old ass

honestly theres no feeling like financial freedom

I actually do really like learning about economics

@Str3tch not rly tbh im pretty blackpilled about it

I expect to make like 50% more in 5 years or so

Especially because it has valuable real world applications

will have greater opportunity then

why?!?!?

@fuguer do you own your home right out?

https://www.soa.org/globalassets/assets/files/edu/2019/2019-10-exam-fm-syllabus.pdf

cause a bitch is a bitch

- ice cube "real nibba"

i took this exam

gonna get my hair cut this monday tho

gotta look presentable <:basedmama:396156349676781569>

stop listening to 90s gangsta rap

No <:CHAD:396569198404435969>

very good

lol

i dont own my home right out, but i have 77% equity

@fuguer do you own your own business

listen to kanye. find jesus

which means i only owe 23% of its value

🙏🏻

<:vox_day:556976341384167447> freedoom

lmao

no i am just a worker drone