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Anyone familiar with oil catch cans? How often do you have to empty it, if at all?
Some say every 3000 miles. I do mine every 2500
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Anyone familiar with oil catch cans? How often do you have to empty it, if at all?
boywonder Absolutely. I'm just saying that the idea that one is expected to buy and live in a home at a certain age is not the smartest move financially and makes much less sense than most people seem to think it does. It pretty much doesn't matter how much a home is worth if you never sell it.
not going to be super long here but let's use #s
history says current owner just purchased in mid december for 238k.
Mortgage ~1150/month @5% 30yrs w/ 10% down.
1BR is 768 but let's say you like space and want the 3BR for $950 even though it's just you.
more than decent looking apartment for someone that's late 20s/early 30s.
Salary at 50k a year there's no way I'd put less than 3k a month toward paying off the house and move on from it as quickly as possible
3000 mgage payment -1825 rent = $1175 + $950 for larger than necessary apt = $2125/ out of pocket monthly housing expense which seems doable
All of this considering completely stagnant career trajectory at 50k, a far from cost cutting living situation, and an interest rate higher than what I saw for a 660 credit score. If this scenario were to start right this minute the house would be paid off in March 2025
Some say every 3000 miles. I do mine every 2500
How do you guys feel about people with exotics that live in apartments?
My cousin was telling me about this exotics dealeship that offers 144month terms @ 6%
I didnt believe him...
http://www.evanpaulmotorcars.com/car/428-ferrari-488-gtb
bruh
How do you guys feel about people with exotics that live in apartments?
common in NYC.
go to tribeca, or soho, or upper west side/east side...crazy Vee's in those indoor parking lots under luxury high rises.
But if you in a apartment building in the burbs with an exotic
common in NYC.
go to tribeca, or soho, or upper west side/east side...crazy Vee's in those indoor parking lots under luxury high rises.
Y’all Persian / Jewish?My bros rent is 5800/mo for a 2BR in Hollywood so I totally understand the sentiment there. He’s paying a mortgage to rent but starter homes out here are 1.3M in this crazy market—At least to stay where he’s at and not sacrificing quality of life.
I was thinking along the lines of 1k apt in the hood and having an exotic. Lots of people actually do this cause they get more enjoyment out of a car than where they sleep at night.
Y’all Persian / Jewish?
If you have sufficient cash flow, you can afford anything.If you cant pay for it cash you shouldnt have it imo
The question is why you intend on paying off the house so fast if you don't have to? Especially if a mortgage offers multiple tax benefits when you have it? In addition, no one typically stays at the same salary bracket for the rest of their lives. A normal career would show a person making more over time with career progression and adjustment for inflation. So in your example, you're paying $950 for rent for an apartment which typically goes up in rent every year versus a standard mortgage at $238K purchase price is roughly around $1200, let's say maybe $1300 if you factor in taxes and insurance. You're paying an extra $300 bucks a month for an asset. That monthly mortgage will stay the same for the entirety of the loan. Assuming your income goes up over time, you can use your raises to pay down the mortgage just a little bit faster if you wanted to. So while you have no tax benefits and rising rent costs from rent, your mortgage balance is going down, the house for the most part with either grow in value or at least sell for what you paid, and builds lequity. During certain adjustments from the feds, you can then refi your house at a lower interest rate, lower your monthly payment and pay off the house more aggressively if you wanted to.
In addition, rather than dumping all that extra funds into paying off the house, I would have invested extra funds into other assets that pays dividends (stock market, bonds, whatever). So now you have a diversified portfolio. A house which provides equity and tax benefits, assets that can grow, and maybe a little bit extra for leisure.
Now, assuming you don't want to live in that house anymore and want to move, you can rent it out. Assuming you get the estimated rent from zillow $1700-$1800, you're getting a net income of $600ish (rent-mortgage) every single month. That's in addition to keeping all the tax benefits. None of which you'll achieve by renting.
40 water bonified legend bE40 - “Why **********ers can't be broke sometimes?
Sometimes it's cool to floss
But don't buy an eighty-five thousand dollar car
Before you buy a house”