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06-16-2021, 11:34 AM | #676 | |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
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Quote:
You should always try to be debt free. The exception is if you can borrow money at 3% and get a guaranteed return great than the rate you borrowed at, go for it. To carry debt just for tax purposes is assinine. |
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Posts: 52,100
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06-16-2021, 11:41 AM | #677 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Yeah. I’m not sure exactly what he’s getting at from the tax side of things. Sure interest is deductible, but principle payments are exclusively post tax. You get depreciation, so if you keep it for the term of the depreciation and term of the note, it’ll net 0 on the tax side.
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Posts: 57,704
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06-16-2021, 11:47 AM | #678 | |
Would an idiot do that?
Join Date: Nov 2000
Location: Arizona
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Quote:
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Posts: 56,569
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06-16-2021, 11:49 AM | #679 | |
Would an idiot do that?
Join Date: Nov 2000
Location: Arizona
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Quote:
One day it's "ermergerd I'm paying $600 a month on electricity and have no idea how" and another day he's a multimillionaire... sometimes in the same thread. |
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Posts: 56,569
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06-16-2021, 11:53 AM | #680 | |
George Brett shit his pants
Join Date: Apr 2006
Location: At the Bellagio
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Quote:
The dumbest thing I'm doing right now is some Dave Ramsey shit, just letting my 10 BTC I cashed in on May 12 sit and rot in my bank account. I haven't figured out what I'm going to do with it yet. Might start flipping houses like a buddy of mine is doing making money hand over fist - doing no work himself. Last edited by BWillie; 06-16-2021 at 12:01 PM.. |
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Posts: 48,379
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06-16-2021, 11:57 AM | #681 | |
George Brett shit his pants
Join Date: Apr 2006
Location: At the Bellagio
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Quote:
Don't rent. Don't do it. And this is coming from a guy who does NOTHING himself. Hire everything out. I don't even own a lawnmower. I don't paint. I don't landscape. I don't clean. Still worth it. If you are one of those souls that is good with your hands and actually likes fixing shit, I can't think of a better thing to do than to buy a fixer upper of a house (not in cash) and gradually fix it up while you live there, maybe rent out a basement or create a live in apartment for some income property within it. Last edited by BWillie; 06-16-2021 at 12:12 PM.. |
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Posts: 48,379
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06-16-2021, 11:57 AM | #682 |
Banned
Join Date: Jan 2013
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So you are just going to abandon the best thing financially you've ever done?
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Posts: 53,803
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06-16-2021, 12:03 PM | #683 |
George Brett shit his pants
Join Date: Apr 2006
Location: At the Bellagio
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Posts: 48,379
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06-16-2021, 12:07 PM | #684 |
Banned
Join Date: Jan 2013
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Posts: 53,803
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06-16-2021, 12:10 PM | #685 |
George Brett shit his pants
Join Date: Apr 2006
Location: At the Bellagio
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Posts: 48,379
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06-16-2021, 12:27 PM | #686 |
Banned
Join Date: Jan 2013
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Posts: 53,803
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06-16-2021, 12:40 PM | #687 |
▓▓▒▒▒▒▒▒▒▒▒▒▒▒▓▓
Join Date: Jan 2009
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Posts: 64,207
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06-16-2021, 12:44 PM | #688 |
George Brett shit his pants
Join Date: Apr 2006
Location: At the Bellagio
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I'm not. I only cashed in 30% of my crypto, and only bitcoin. I didn't sell any Ethereum. That Elon tweet freaked me the **** out. After hodling for years....the enviro concerns scared me enough to hedge my holding somewhat. I still believe in it, I just don't believe with 100% certainty that it will become 100k BTC someday like I used to.
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Posts: 48,379
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06-16-2021, 12:54 PM | #689 | |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
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Quote:
But yeah. I have friends who are paying $500 more per month in rent on a 1000 sf apartment than I'm paying for my mortgage on my 2500 sf house. |
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Posts: 52,335
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06-16-2021, 12:55 PM | #690 | |
MVP
Join Date: Oct 2012
Location: HERMOSA BEACH,CA
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Quote:
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Posts: 14,042
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