***SBBC: Greatest wrestler ever***

[therealdope]

lmao @ 750,000 = $2000/mo

All markets and situations are different, if you need the flexibility then renting is likely the better and cheaper option.

If you can afford it and are putting down some roots than owning > renting... I'm sure Revo would back me up on that.

Hey Revo, how much better of a situation are you in owning a home with a boatload of equity in SoCal, probably for the cost (or maybe even less than the cost of renting that same place)

I'll provide an example.

Two friends of mine are engineers who went to school out of state and moved back here when they finished, both got pretty great jobs. One decided to rent on the westside and live carefree, the other bought house a little further away and rented out a room or two to make it work.

The one still rents, the other came up 6 figures on the sale of that place and parlayed it into an even nicer place and pays less per month than the renter, and still has all that equity. Give it another 10 years and he will be free and clear on a damn near million dollar asset and the other guy might JUST be buying.

Factor in the tax advantages and like I said, it's an excellent wealth building tool.

Spoken like any random person who works in real estate.

 

[PUO3]

wow, serious talk itt.

I was just gonna say how fucked up it is Amir Khan got death threats for putting up a xmas tree for his little girl.

Ill assume because hes Muslim?

 

[Revolver]

lmao @ 750,000 = $2000/mo

All markets and situations are different, if you need the flexibility then renting is likely the better and cheaper option.

If you can afford it and are putting down some roots than owning > renting... I'm sure Revo would back me up on that.

Hey Revo, how much better of a situation are you in owning a home with a boatload of equity in SoCal, probably for the cost (or maybe even less than the cost of renting that same place)

I'll provide an example.

Two friends of mine are engineers who went to school out of state and moved back here when they finished, both got pretty great jobs. One decided to rent on the westside and live carefree, the other bought house a little further away and rented out a room or two to make it work.

The one still rents, the other came up 6 figures on the sale of that place and parlayed it into an even nicer place and pays less per month than the renter, and still has all that equity. Give it another 10 years and he will be free and clear on a damn near million dollar asset and the other guy might JUST be buying.

Factor in the tax advantages and like I said, it's an excellent wealth building tool.

In SoCal if you can afford to buy I feel it's always the better option unless you want something short term. The prices here just keep going up and I don't see another down turn like we had in 2008 since banks have been forced to end their shady lending practices. On top of that having a mortgage and property tax deduction doesn't hurt.

If I wanted to rent a house in the location I'm currently in I'd be looking at least 3,800 in rent. I think @Corona is paying close to 2k in rent for a 1 bedroom. It's just different over here.

 

[Revolver]

Check your mail.

Some time away in the woods is amazing for recharging the batteries. Im not a weirdo prepper or recluse but I do enjoy a quiet get away.

You can probably grow a bunch of weed and atv all day. That sounds pretty cool if you can build a pretty awesome cabin.

 

[DangDaGawd]

No Im not a renter you illiterate piece of shit.

Im trying to buy property. Not another house.

Oh and

I wonder if Lumi tried to edit this, as he's done with numerous posts in the last few weeks. He truly lives in a house of cards (which he rents..lol) on this site.

 

[Luminaire]

Spoken like any random person who works in real estate.

It's funny how if you don't deny a random accusation then that somehow gives the accusation merit.

I'm an analyst, there's really no better way to describe what I do. I was a consultant for years so I've worked in a variety of industries, including mortgage securities and commercial real estate, but also entertainment, construction, healthcare, and banking.

So no, I've never worked in "Real Estate" in the way you're claiming... the closest I got was a 6 month project to tell a Mortgage company just how fucked they were in 2010.

 

[Luminaire]

I wonder if Lumi tried to edit this, as he's done with numerous posts in the last few weeks. He truly lives in a house of cards (which he rents..lol) on this site.

Still stung about that Highland Park crack I see.

lol @ numerous posts.

 

[DangDaGawd]

In SoCal if you can afford to buy I feel it's always the better option unless you want something short term. The prices here just keep going up and I don't see another down turn like we had in 2008 since banks have been forced to end their shady lending practices. On top of that having a mortgage and property tax deduction doesn't hurt.

If I wanted to rent a house in the location I'm currently in I'd be looking at least 3,800 in rent. I think @Corona is paying close to 2k in rent for a 1 bedroom. It's just different over here.

I think you should be able to make a 5 year commitment to build equity, if you want to pocket any real money from appreciation from your property. If you're going to move around a lot, it makes more sense to rent imo. I just sold my Huntington Beach condo last year and I only had a little of 3 years of equity built into it. I had a rental stream for about a year and a half, but still - I wish I saw more money from how much it appreciated.

Just got tired of being a LL. It's too much of a fucking headache.

 

[MarkyMcFly]

Walked into our companies CEO's office. He's building a gaming pc for his son...and just sitting there, out in the open....a GTX 1070. Had to make some hard decisions about my future at that moment. "Do I need this Job?"...."Can he catch me in a race?"

 

[DangDaGawd]

Still stung about that Highland Park crack I see.

lol @ numerous posts.

Edited again. Lumi, you're just off your rocker in this thread. I honestly feel bad for you at this point. I mean, the other day Beri had you wobbling in the NBA thread. Beri, of all people.

Beri is like the Highland Park of NBA posters. Think on it for a second.

 

[Luminaire]

Edited again. Lumi, you're just off your rocker in this thread. I honestly feel bad for you at this point. I mean, the other day Beri had you wobbling in the NBA thread. Beri, of all people.

Beri is like the Highland Park of NBA posters. Think on it for a second.

Beri had nobody wobbling... he said he'd scramble around on the ground trying to heel hook me, I was LLOL (literally laughing out loud) at the thought of some skinny long haired canadian jesus looking dude desperately scooting around on the ground diving for my ankles.

Btw... I edit to add in things I forgot or correct mistakes pretty often, you got me there.

You really shit all over Highland Park right now...

 

[MarkyMcFly]

Lumi's a industrial cock inhaler, but he's right about Beri here.

 

[El Chimpo]

I need to make mooooooooore.

 

[DangDaGawd]

Beri had nobody wobbling... he said he'd scramble around on the ground trying to heel hook me, I was LLOL (literally laughing out loud) at the thought of some skinny long haired canadian jesus looking dude desperately scooting around on the ground diving for my ankles.

Btw... I edit to add in things I forgot or correct mistakes pretty often, you got me there.

You really shit all over Highland Park right now...

Their brewery is good. Plus, I wish I bought a shitload of real estate in Highland Park around 10 years ago. It's hipsterville now. Prices have gone up a ton.

You seem to have a view of LA that existed in the 1980s. You like 55 or something? When's the last time you bought anything?

 

[Deleted member 484047]

Walked into our companies CEO's office. He's building a gaming pc for his son...and just sitting there, out in the open....a GTX 1070. Had to make some hard decisions about my future at that moment. "Do I need this Job?"...."Can he catch me in a race?"

That would be a tough call. Were there any possible makeshift bludgeoning weapons available? A good crack to the noggin would buy you a minute or two of headway

 

[Luminaire]

Their brewery is good. Plus, I wish I bought a shitload of real estate in Highland Park around 10 years ago. It's hipsterville now. Prices have gone up a ton.

You seem to have a view of LA that existed in the 1980s. You like 55 or something? When's the last time you bought anything?

lol, I'm probably your age...

If you bought a shit load of real estate anywhere in SoCal 10 years ago you'd hate your life... you'd have bought at the near height of the real estate boom, you'd have some fuckin' bullshit 10 year interest only loan with a 8% rate and you'd be seeing your first principal balance payment 10 years in... on a property that finally recovered in value.

What I mean is, you'd have been foreclosed on 5-6 years ago and squatters would have demolished the property.

But you're partially right, I hear a bunch of areas up there that used to be shit are gentrifying, wasn't sure Highland Park was in that zone yet, mostly just heard about silverlake and eagle rock. Outside of the occasional trip downtown I'm never out that way.

EDIT!!!! Actually based on your join date and avatar I'll go ahead and say I'm younger than you.

 

[MarkyMcFly]

That would be a tough call. Were there any possible makeshift bludgeoning weapons available? A good crack to the noggin would buy you a minute or two of headway

I mean, he's like 6'7 probably about 270 but a hard enough crack probably would've taken him out.

 

[DangDaGawd]

lol, I'm probably your age...

If you bought a shit load of real estate anywhere in SoCal 10 years ago you'd hate your life... you'd have bought at the near height of the real estate boom, you'd have some fuckin' bullshit 10 year interest only loan with a 8% rate and you'd be seeing your first principal balance payment 10 years in... on a property that finally recovered in value.

What I mean is, you'd have been foreclosed on 5-6 years ago and squatters would have demolished the property.

But you're partially right, I hear a bunch of areas up there that used to be shit are gentrifying, wasn't sure Highland Park was in that zone yet, mostly just heard about silverlake and eagle rock. Outside of the occasional trip downtown I'm never out that way.

EDIT!!!! Actually based on your join date and avatar I'll go ahead and say I'm younger than you.

Highland Park was gentrifying 10 years ago. It's pretty gentrified now. Not sure if you just had your head in the sand or what. Or maybe you think any place with Mexicans is automatically shitty. Not sure which.

Eagle Rock and Silver Lake are more expensive than Pasadena now. Our millennial generation doesn't want a long commute, so areas close to downtown are all rising.

Also, Highland Park didn't drop since 10 years ago. The market was a low as you can get in SoCal. You're right about the interest rates though. I was still in college 10 years ago, so I was just speaking hypothetically. Lets just pretend I meant that I wish I bought straight cash, homie.

 

[HunterSdVa29]

i normally do more current research on stocks and funds, etc...and would likely have some tips

but i'm still riding out my tremendous purchase almost two years back of mad NVDA and ATVI shares (Nvidia and Activision Blizzard)

I actually wish i could be ballsier in my 401k like I am in my ROTH

 

[Luminaire]

Highland Park was gentrifying 10 years ago. It's pretty gentrified now. Not sure if you just had your head in the sand or what. Or maybe you think any place with Mexicans is automatically shitty. Not sure which.

Eagle Rock and Silver Lake are more expensive than Pasadena now. Our millennial generation doesn't want a long commute, so areas close to downtown are all rising.

Also, Highland Park didn't drop since 10 years ago. The market was a low as you can get in SoCal. You're right about the interest rates though. I was still in college 10 years ago, so I was just speaking hypothetically. Lets just pretend I meant that I wish I bought straight cash, homie.

Looked into it a bit more, you're right... it was such a shit area 10 years ago that prices never really got too high. It's absurd right now.

Bunch of 700k+ crap shacks... wow, I didn't realize.

Still looking at these homes, I want no part of that lol... economy takes a swing and that area will get hit hard.