Rant of the moderately wealthy...

tend to agree with Nick. i've been dying to add on to my house, add a pool, etc but it seems crazy with so many huge houses on the market, short sales, foreclosures. turnkey luxury is everywhere.

but do what you want. if you have the money, do it up.

and to the ambiguously dogmatic gay duo, i've almost paid off my mortgage. let me know when you pay off your landlord. inb4 mises article about property taxes and maintenance and you are a slave forever. no shit.

i am a landlord. because of homeownership. and i know a few guys in my town KILLING it right now in real estate renting to mises fags.
 
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Rusky said:
First World Problems.

My problem yesterday was that I forgot my charger in the office. I had go on battery conserve mode.

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I love how we'll never in a million years see a black person say "first world problems" since saying "first world problems" is just code for saying "white people problems" but either way I can sadly relate to those tragic images you posted.
 
Beach Affiliate said:
It was never a decline of American soil - just a reality adjustment for over-priced McMansions built in developments that were just clay fields only months before.

Most of the people in America whining about being upside down mortgaged themselves to the hilt for a box of tinder that was built in "suburbs" that was nothing but farm land only a decade (or less) before.

The developers flattened the land, the counties ran in some drainage, the cable companies ran some cable, and the electric companies ran some wires.

Then the builders, subcontractors, and everyone else built those boxes.

Then the banks lent the money to the idiots that HAD to have the new box with the granite/stone/tile what-the-fuck-ever because Tom and Susie Dipshit got one and the schools are sooo good for their little fuck-trophies.

The businesses made millions and the idiot middle class dipshits couldn't run to get mortgaged up to their eyeballs fast enough.

As for OP:

Hope everything works out for you. but you've gotten some good advice in this thread about better planning. I'd heed it.

Or not. Fuck it, it's your house not mine. Do what you want.

Good luck, bro.
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Agree. I see these house hunter shows on TV and I have to laugh/cringe at all these people buying houses with 2.5-3% down. Really?. I was always told PMI unless you have 20% and that's just flushing your cash down the toilet.
 
Fellah said:
Kind of a long story but basically I wanted to go to Brazil but it was February when I was looking and the whole country was booked solid because of Carnival. I started looking around for other places to go in the meantime and ended up on VRBO.com, DR had a lot of nice spots and so I decided to check it out and haven't left since. I had my apartment on the market for a while and then when I got an offer it was on a condition of like a 12 day close or something ridiculous so I really had very little time to find a place to go to.

The other day I read a thread about someone living in Cabo, Mexico and it sounded waaaay better than here. I'm not necessarily advocating any one move to the DR, it has it's pros and cons but really my point was more so to travel and experience life before being tied down to a mortgage.
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I've heard the same about Cabo and gotta say it's pretty tempting.

you're spot on about living life vs. getting tied down. thanks.
 
pixelo said:
What about all the cartels and killing etc in Mejico?
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I know your question wasn't directed at me, but the guy who posted in a thread here on WF said it was a non-issue. Cabo is a tourist area and it's well protected. The violence is in border towns and other gang controlled areas of the country. I avoided Mexico when I was looking to move because of all their problems, but at this point I'd definitely consider a place like Cabo.
 
nickCR said:
@Fellah: Fucking good deal man. I heard a lot about the DR since the company I used to work with started there and brought everyone to Costa Rica when they moved so everyone has stories about there. Lots of good.
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Nice, a buddy of mine actually just got a job with a sports betting company that moved from CR to DR. I have a friend living in CR right now, he just moved there. I'll probably be making a trip at some point.
 
doesnt take much money to redo a roof... get it together, man up - and do it yourself. Don't outsource shit like this. If he's charging you 400k for sake of argument, it should cost 150-200 max.
 
If you do too much renos and expansion, your property taxes could go up by thousands. Permanently. This could mean serious money if you live in a county like mine (Nassau, NY) where the taxpayers are basically told to bend over.

Two weeks ago a seriously decrepit and broken down back room in my house was totally renovated and modernized. The cost? $2,500, and I'm doing the painting myself. If I posted pictures you'd be amazed at the change.

Your estimate is now $425K? This is far past the point of diminishing returns. You want a place to live, or a money pit to stroke your ego? Fix the roof (after getting several competing estimates), and then reassess with a cold and calculating eye what kinds of work you really, REALLY need moving ahead.

Remember: A house is a non-productive asset if you're not renting it, and should be viewed as a residence and not an investment. My .02 from the renovation trenches.
 
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