NEVER pay off your mortgage

Started by mkd, May 21, 2021, 03:17 PM

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mkd

#30
July 01, 2021, 06:49 AM Last Edit: December 31, 1969, 04:00 PM by Guest
Ok, new hair brained idea:
 Refinance house pulling out all my equity, which is really pulling everything I've put in plus some profit.
 Put proceeds in a brokerage account and in a high dividend fund(s), like QYLD which pays 1% per month. Even a diversified few dividend funds will still pay new mortgage in perpetuity, with some leftover every month.
 So basically get rid of working for your mortgage and build weath back into your house over time and build the brokerage.account at the same time.
 Historical <3% mortgage rates and dividend funds paying 7-12%,you can't lose, right???????

Tim Johnson

#31
July 01, 2021, 09:10 AM Last Edit: December 31, 1969, 04:00 PM by Guest
Quote from: mkd post_id=12907 time=1625147342 user_id=155Ok, new hair brained idea:
 Refinance house pulling out all my equity, which is really pulling everything I've put in plus some profit.
 Put proceeds in a brokerage account and in a high dividend fund(s), like QYLD which pays 1% per month. Even a diversified few dividend funds will still pay new mortgage in perpetuity, with some leftover every month.
 So basically get rid of working for your mortgage and build weath back into your house over time and build the brokerage.account at the same time.
 Historical <3% mortgage rates and dividend funds paying 7-12%,you can't lose, right???????


It almost sounds like the Iron Cross in Craps. It always works until it doesn't. :turned:
FJB

mkd

#32
August 18, 2021, 08:43 AM Last Edit: December 31, 1969, 04:00 PM by Guest
Closing new loan today @ 2.00%

gcode

#33
August 19, 2021, 03:35 AM Last Edit: December 31, 1969, 04:00 PM by Guest
Quote from: mkd post_id=14536 time=1629301397 user_id=155Closing new loan today @ 2.00%


your wife would kill you  :harhar:

mkd

#34
August 19, 2021, 07:04 AM Last Edit: December 31, 1969, 04:00 PM by Guest
https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=586576972&makeCodeList=LAM&zip=92877&state=CA&city=Corona&dma=&searchRadius=25&listingTypes=USED&isNewSearch=false&referrer=%2Fcars-for-sale%2Flamborghini%3F&clickType=listing">https://www.autotrader.com/cars-for-sal ... pe=listing">https://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=586576972&makeCodeList=LAM&zip=92877&state=CA&city=Corona&dma=&searchRadius=25&listingTypes=USED&isNewSearch=false&referrer=%2Fcars-for-sale%2Flamborghini%3F&clickType=listing

mkd

#35
August 19, 2021, 05:07 PM Last Edit: December 31, 1969, 04:00 PM by Guest
Quote from: gcode post_id=14568 time=1629369318 user_id=60
Quote from: mkd post_id=14536 time=1629301397 user_id=155Closing new loan today @ 2.00%


your wife would kill you  :harhar:


She's already planning the home improvements. :secret:

gcode

#36
August 19, 2021, 05:38 PM Last Edit: December 31, 1969, 04:00 PM by Guest
Quote from: mkd post_id=14634 time=1629418022 user_id=155
Quote from: gcode post_id=14568 time=1629369318 user_id=60
Quote from: mkd post_id=14536 time=1629301397 user_id=155Closing new loan today @ 2.00%


your wife would kill you  :harhar:


She's already planning the home improvements. :secret:


A flowerbed to cover your grave when you pull up in the used Lambo?  :whistle:

Rstewart

#37
August 19, 2021, 05:39 PM Last Edit: December 31, 1969, 04:00 PM by Guest
Our open house (selling our place) is this Saturday.  Hoping to capitalize on the hot market while the getting is good!   Average time on the market for homes in this area is around two days.  Over the past six months we've repainted the whole inside, new shingles (insurance claim) and the exterior trim, hope it pays off.
Now I just gotta find someone that is willing to move my safe lol

mkd

#38
August 19, 2021, 07:33 PM Last Edit: December 31, 1969, 04:00 PM by Guest
Quote from: Rstewart post_id=14638 time=1629419980 user_id=63.
.
Now I just gotta find someone that is willing to move my safe lol

Hopefull to offer congrats shortly.
smart move on hiring a pro. I'm lucky to be walking after saving a few bucks moving mine myself. Tilting it off my tailgate supporting the side that would shortly become to bottom ..on the floor.
 Count my lucky stars I moved my foot just in time when it made the pivot.

mkd

#39
August 19, 2021, 07:45 PM Last Edit: December 31, 1969, 04:00 PM by Guest
the housing market is f'ing nuts, in case anyone has been living under a rock. LoL
 
 Any predictions how this ride ends, driven by money printing vs crazy bad loans like last time?

gcode

#40
August 19, 2021, 07:55 PM Last Edit: December 31, 1969, 04:00 PM by Guest
Quote from: mkd post_id=14645 time=1629427537 user_id=155the housing market is f'ing nuts, in case anyone has been living under a rock. LoL
 
 Any predictions how this ride ends, driven by money printing vs crazy bad loans like last time?

Like '07 only worse.

mkd

#41
August 19, 2021, 08:41 PM Last Edit: December 31, 1969, 04:00 PM by Guest
Quote from: gcode post_id=14646 time=1629428125 user_id=60
Quote from: mkd post_id=14645 time=1629427537 user_id=155the housing market is f'ing nuts, in case anyone has been living under a rock. LoL
 
 Any predictions how this ride ends, driven by money printing vs crazy bad loans like last time?

Like '07 only worse.


..Or could it be a knig maker like anyone lucky enough to buy a house in cali in 1977.
 carter inflation from 77-80 was really a perfect storm  where interest rates suppressed house prices followed by Reagan fixing it where interest rate reversals set a 40 year trend of price increases.
 So we're kinda on the other end of that spectrum with interest rates set to rise. 5% percent increase in interest rates is really gonna hollow out equity markets and home equity.
 Fed is stuck playing monetary policy  until the music stops :cry:  :cry:  :cry:  :shock:

 where to position your finances to be ready?

Rstewart

#42
August 24, 2021, 06:42 PM Last Edit: December 31, 1969, 04:00 PM by Guest
Quote from: gcode post_id=14646 time=1629428125 user_id=60
Quote from: mkd post_id=14645 time=1629427537 user_id=155the housing market is f'ing nuts, in case anyone has been living under a rock. LoL
 
 Any predictions how this ride ends, driven by money printing vs crazy bad loans like last time?

Like '07 only worse.


Our house was under contract in less than 24 hours.  Guy came in and offered CASH to buy our house @ $155 per sq foot.  
Never thought I'd see the day, esp in N. Alabama lol

mkd

#43
August 24, 2021, 10:30 PM Last Edit: December 31, 1969, 04:00 PM by Guest
[/quote]

Our house was under contract in less than 24 hours.  Guy came in and offered CASH to buy our house @ $155 per sq foot.  
Never thought I'd see the day, esp in N. Alabama lol
[/quote]

Congrats on a speedy sale. Maybe you should have asked $180/sq-ft :harhar:
House prices are going up in the south too. At least around Charlotte..
SoCal is getting into the $280 range :sick:

mkd

#44
August 24, 2021, 10:45 PM Last Edit: December 31, 1969, 04:00 PM by Guest
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now what to YOLO on
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