NEVER pay off your mortgage

[mkd]

Seriously appreciate the thoughtful cautions, Buddies. This market rise is looking like 2006 (even though compared to Oil and Gold, housing is looking cheaper)

 But But But the guy on the internet said that if you get the property that makes sense now, without speculating on price inflation anytime soon, with the renters paying your mortgage you'll make money on the debt and inflation.
 I'm not THAT serious about going all in on real estate. And not that serious about cashing in all equity and letting it ride on the S&P500 (considered safe bet). Mathematically and historically the evidence is there that they are smart moves but it doesn't consider RISK.

 Life only rewards taking action. Question is, which is the right door.
 Waiting til the midterm election to see what crazy happens between now and then is an idea.

[mkd]

Sadly, in this craphole I call home; The People's Republik of Kommieforniastan, even if I were to pay off my home lock, stock and barrel, I would still be paying those mental defects in Excremento around $1,000/mo.

The reality, is you don't own much. The government owns it and they lease it to you.

Yes!
Yes, the only thing you own is the appreciation (or depreciation) of the assets you accumulate. If a person could own the appreciation of 4 houses instead of one........
 I've foolishly put off investing for far too long, focusing on short term drama and shipping product out to customers, trying/mostly failing making bosses happy. i know taking risks to make up for lost time is great way to blow yourself up.
 This is a thought experiment. if i can help move anyone else off the dime and not do what i've not done for too long, all the better. Just trying to think outside the box.
 and I sure as shit wouldn't go into hock in this peoples commune of Kali where non paying squatters have more rights than the mortgage holder.

[CNCAppsJames]

The right investment decisions for one person/family may not be right for another. By all means invest. Bad decisions at 25... a blip on the radar. NO factor. A bad decision at 55... and you're eating alpo at 65. OK, maybe slight exaggeration but meals on wheels is definitely in that future.

[gcode]

The right investment decisions for one person/family may not be right for another. By all means invest. Bad decisions at 25... a blip on the radar. NO factor. A bad decision at 55... and you're eating alpo at 65. OK, maybe slight exaggeration but meals on wheels is definitely in that future.

I remember back in the last boom, people were mortgaging their homes in Cali and using the $$$ to play
the Vegas real-estate market. A guy I worked with was showing a couple of million in paper profits at the peak.
He stayed in too long, got caught in the crash and lost everything, including his home in Cali

[gcode]

you guys are out of your f'n minds
.
.


This is the kind of thinking that caused the crash of 1929 and a decade of starvation and depression

 Nothing wrong with a bitch-slap back to reality.

Happy to be of service  :_thumbup:

[Dan_AKA_ROY23]

Where's ROY?

Hi.

Ask Robert (zoober). That's his area.

I stick to what I know. If I decide I don't like the stock anymore, I can sell it instantly.

[gcode]

with the renters paying your mortgage you'll make money on the debt and inflation.

Do some research on landlord/renter law in Cali
The laws are all written to favor the renter.... since we all know landlords are eeevil exploiters.
A bad tenant can destroy you.
When I lived in Anaheim the guy who owned the condo across from mine rented it out to a welfare queen.
The state was paying the rent so he figured he couldn't lose.
But he did.... bigtime
She got a cash under the table job at a pizza joint...worked it 6 weeks, then sued the guy for
"pizza elbow" .... seriously !!
She settled out of court for $20K and blew it all on a 3 day drug binge.
The nosy Jewish lady next door reported the unreported income to welfare, who investigated and cut
 off her rent payments.
She lived in that condo for free for 18 months while my neighbor tried and failed to evict her
My neighbor finally gave it back to the bank and filed bankruptcy.
The welfare queen knew all the tricks. It still took the high powered connected bank lawyers
another year to get her evicted.

Sure, this is an extreme case... but a bad tenant can really hurt you.

[mkd]

Where's ROY?

Hi.

Ask Robert (zoober). That's his area.

I stick to what I know. If I decide I don't like the stock anymore, I can sell it instantly.

Congrats on your Ford pick a few months ago. :_thumbup:  THAT has work out well :rocket:

[mkd]

with the renters paying your mortgage you'll make money on the debt and inflation.

Do some research on landlord/renter law in Cali
The laws are all written to favor the renter.... since we all know landlords are eeevil exploiters.
A bad tenant can destroy you.
When I lived in Anaheim the guy who owned the condo across from mine rented it out to a welfare queen.
The state was paying the rent so he figured he couldn't lose.
But he did.... bigtime
She got a cash under the table job at a pizza joint...worked it 6 weeks, then sued the guy for
"pizza elbow" .... seriously !!
She settled out of court for $20K and blew it all on a 3 day drug binge.
The nosy Jewish lady next door reported the unreported income to welfare, who investigated and cut
 off her rent payments.
She lived in that condo for free for 18 months while my neighbor tried and failed to evict her
My neighbor finally gave it back to the bank and filed bankruptcy.
The welfare queen knew all the tricks. It still took the high powered connected bank lawyers
another year to get her evicted.

Sure, this is an extreme case... but a bad tenant can really hurt you.

The guy in the video has written off a few states, Kali being ground zero.
 Those renting factors are also a HUGE red flag. Somewhat high density property, rented to an obviously un-vetted welfare tenant, while being mortgaged to the hilt, and under water and couldn't cover it. He didn't deserve it but he sure was asking for it.
 There are states where you can issue a notice if they are 3 days late.

[Matthew Hajicek]

Make sure you work them on price. Have no idea why those are more expensive than their large envelope mills. VF-1 is cheaper list, which I'm 100% sure you've considered. For that money you could get an older full Y axis milling lathe, which will fit in a garage, which i'm also 100% sure you've considered, so i'll shut the hell up.
 Don't bother with the 5 axis wiring. Any table top haas trunnion is garbage. Look nice in the pics....
Also keep in mind those are grease pack spindles. Cheapest of the cheap, with limited duty cycle if you want them to live. oh I guess they arre air/oil
 Oh, and congrats on taking the plunge. Sure wish i didn't 10 years ago..

I got them down a little on price.  I'm quite familiar with the limitations of a Haas trunnion; I've been using one for five and a half years here on the VF-3SS.  They won't come close to making that impeller I posted about, but they're good enough for +/- .002" with a little Kentucky windage.  WRT the spindle duty cycle, I inquired about that when we got the VF-3SS at 15K RPM, and they said no, run it at max all day every day if you like.  I've had it at 15K for several hours on end, running production 24-7 for months at a time, and no problems so far.

Yes, for the same money I could get a larger used machine, but I need the high RPM for my clients' parts.  With the CM-1 I won't need a phase converter either.

[Zoober]

While we've made a lot of money in real estate, we've never been bitten bad during the downturns. Because we were always balanced in owned outright and mortgaged to the teeth. I would never recommend running up and maintaining an 80% mortgage on multiple properties. Not even one.
We were blessed, and played it pretty good to set us up for our future. But we are out of that game now.
I see 10% + interest rates if The Dems control for 2 cycles.

[Tim Johnson]

with the renters paying your mortgage you'll make money on the debt and inflation.

Do some research on landlord/renter law in Cali
The laws are all written to favor the renter.... since we all know landlords are eeevil exploiters.
A bad tenant can destroy you.
When I lived in Anaheim the guy who owned the condo across from mine rented it out to a welfare queen.
The state was paying the rent so he figured he couldn't lose.
But he did.... bigtime
She got a cash under the table job at a pizza joint...worked it 6 weeks, then sued the guy for
"pizza elbow" .... seriously !!
She settled out of court for $20K and blew it all on a 3 day drug binge.
The nosy Jewish lady next door reported the unreported income to welfare, who investigated and cut
 off her rent payments.
She lived in that condo for free for 18 months while my neighbor tried and failed to evict her
My neighbor finally gave it back to the bank and filed bankruptcy.
The welfare queen knew all the tricks. It still took the high powered connected bank lawyers
another year to get her evicted.

Sure, this is an extreme case... but a bad tenant can really hurt you.

Wasn't it in Cali where a couple bought a house and the seller wouldn't leave?

[gcode]

[quote="Tim Johnson" post_id=11646 time=1621972884 user_id=68]

with the renters paying your mortgage you'll make money on the debt and inflation.

Do some research on landlord/renter law in Cali
The laws are all written to favor the renter.... since we all know landlords are eeevil exploiters.
A bad tenant can destroy you.
When I lived in Anaheim the guy who owned the condo across from mine rented it out to a welfare queen.
The state was paying the rent so he figured he couldn't lose.
But he did.... bigtime
She got a cash under the table job at a pizza joint...worked it 6 weeks, then sued the guy for
"pizza elbow" .... seriously !!
She settled out of court for $20K and blew it all on a 3 day drug binge.
The nosy Jewish lady next door reported the unreported income to welfare, who investigated and cut
 off her rent payments.
She lived in that condo for free for 18 months while my neighbor tried and failed to evict her
My neighbor finally gave it back to the bank and filed bankruptcy.
The welfare queen knew all the tricks. It still took the high powered connected bank lawyers
another year to get her evicted.

Sure, this is an extreme case... but a bad tenant can really hurt you.

Wasn't it in Cali where a couple bought a house and the seller wouldn't leave?
[/quote]

yes.. as far as I know the seller is still living in the house. ( about 1.5 years after the sale)
He is abusing anti eviction laws

[mkd]

wow. just googled that

[ghuns]

...yes.. as far as I know the seller is still living in the house. ( about 1.5 years after the sale)
He is abusing anti eviction laws

They finally got rid of the squatter...

https://www.dailymail.co.uk/news/article-9466975/Couple-bought-home-15-MONTHS-buying-seller-refused-go.html">//https://www.dailymail.co.uk/news/article-9466975/Couple-bought-home-15-MONTHS-buying-seller-refused-go.html