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What's so great about owning a house?

Discuss and talk about any general topic.

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Postby Moretorque » Thu Aug 22, 2013 9:04 pm

djfourmoney wrote:ITS STILL OFF TOPIC, if you have something to say use PM, I might delete it however.


No it's not off topic, where to own real estate and where not to plays right into this whole scenario, which by the way with the socialist agenda being put up world wide you own nothing and are just a tenant of the creditors so you have got to decide weather to bother with dealing with the whole realty gig or not.

I did not say we were overpopulated, you are putting up something I have not said in this thread. We are mismanaging the worlds resources so the planet is dying under the current population stresses, if we all went vegetarian and stopped breeding we could make a future other than that we are cooked gooses for the most part.

The whites are the ones with the biggest eco foot print, dude your writing is light trash at best and easily disguarded as such.
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Postby momopi » Thu Aug 22, 2013 9:08 pm

Repatriate wrote:Momopi what do you think about this piece of crap in this video that this couple bought? Do you deal with anything at this level.
http://finance.yahoo.com/video/dont-buy ... 00511.html


I'd need closer inspection of the property with my contractors to comment, but my feeling is that the $200k-$225k quote is on the high side. In Pomona and other places, you'd find older 2 bed 1 bath homes with illegal 3rd bedroom additions in the back. My contractor can get new plans approved and completely gut the house, then rebuild the interior into a legal 3 bed 2 bath home with everything up to code for a lot less.

Given choice I'd rather deal with less, like minor termite damage and such. The RE market is very competitive and I have to look for older fixer uppers that turnkey investors don't want. In one case the property had so many pigeons, the roof and yard was covered in bird droppings and RE Agents were discouraging potential buyers because it was a health hazard. Well, I looked at the neighbor's house and saw the roof was covered in bird spikes, so I guess the pigeons decided to move. Knocked on their door and asked for their bird control guy's # to get a quote (bird control and cleanup can cost few thousand dollars).

Pigeons breed year round and even if you use birth control feed, they bounce back quickly. If your neighbor spike their roof they will come to your roof, and if you spike your roof they will go next door or across the street. The 2-story HOA homes built in recent decade are pigeon magnets in some areas because they love the faux Spanish tile roof to nest under. The older homes with flat-tile roofs offer no nesting nooks.

Theoretically, one could offer pigeon removal service to spike the roof, wait until the pigeons move next door, then knock on the neighbor's door to offer your services. Rinse and repeat throughout the HOA.
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Postby ContraMundumRants » Thu Aug 22, 2013 10:55 pm

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Postby Moretorque » Thu Aug 22, 2013 11:09 pm

ContraMundumRants wrote:More arguments for not owning a house:

http://www.jamesaltucher.com/2011/03/why-i-am-never-going-to-own-a-home-again/



I talk to these old timers who made a fortune with real estate here in the US and they tell me your property rights are going bye bye fast, this has been engineered on purpose by the new owners who are coming for the land here in the US.

Today alot of your more intelligent people who made good investments here in the US and who lived the good life here in the US feel it is time to hide from the system and not play ball.

The whole system is completely rigged now and the creditors have unlimited legal fiction paper and the military industrial complex of stooges to back it. I don't know how much longer they can keep the game going, it depends on weather the idiots will keep doing the bidding for the credit that the creditors provide. Prices just keep going up and up and the masses continue to lose ground to the system, you would think they would have figured it out by now.
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Postby djfourmoney » Thu Aug 22, 2013 11:50 pm

Moretorque wrote:
djfourmoney wrote:ITS STILL OFF TOPIC, if you have something to say use PM, I might delete it however.


No it's not off topic, where to own real estate and where not to plays right into this whole scenario, which by the way with the socialist agenda being put up world wide you own nothing and are just a tenant of the creditors so you have got to decide weather to bother with dealing with the whole realty gig or not.

I did not say we were overpopulated, you are putting up something I have not said in this thread. We are mismanaging the worlds resources so the planet is dying under the current population stresses, if we all went vegetarian and stopped breeding we could make a future other than that we are cooked gooses for the most part.

The whites are the ones with the biggest eco foot print, dude your writing is light trash at best and easily disguarded as such.


Dude you're from Florida... or a Brit living in FL, since you brought up the UK.

Going vegan? What the hell is that based on? You go vegan. Again, denying yourself something because some other issue say meat is bad for the environment. Guess what, you largely have no control over that so myself and others will not stop eating. You stop driving and stop buying trinkets in the mall (shipping) and install solar panels on your house, assuming you have one.

I am not White, I don't have a huge footprint, I am poor. At the root of all evil is White People actually.

Light trash? By whose measure? Yours? Who the hell are you?

Why would I call myself "More Torque"? My SRT-4 put down 400 lbs of torque at 25 psi but I wouldn't call myself "More Torque".

It is off-topic because the subject was actually why women would judge the OP differently if he owned instead of rented. Then it moved into talking about real estate as an investment/income stream. You started the ad-hominem attacks and name calling. I call White people on the mat for the damage they have done and are doing, you won't take ownership of the evil, you perpetuate it and tell others what do you like your some sort of god.

Well f**k you and the horse you rode in on. Trying to use the pseudo-intellectual card on me, weak sauce.
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Postby Moretorque » Thu Aug 22, 2013 11:53 pm

djfourmoney wrote:
Moretorque wrote:
djfourmoney wrote:ITS STILL OFF TOPIC, if you have something to say use PM, I might delete it however.


No it's not off topic, where to own real estate and where not to plays right into this whole scenario, which by the way with the socialist agenda being put up world wide you own nothing and are just a tenant of the creditors so you have got to decide weather to bother with dealing with the whole realty gig or not.

I did not say we were overpopulated, you are putting up something I have not said in this thread. We are mismanaging the worlds resources so the planet is dying under the current population stresses, if we all went vegetarian and stopped breeding we could make a future other than that we are cooked gooses for the most part.

The whites are the ones with the biggest eco foot print, dude your writing is light trash at best and easily disguarded as such.


Dude you're from Florida... or a Brit living in FL, since you brought up the UK.

Going vegan? What the hell is that based on? You go vegan. Again, denying yourself something because some other issue say meat is bad for the environment. Guess what, you largely have no control over that so myself and others will not stop eating. You stop driving and stop buying trinkets in the mall (shipping) and install solar panels on your house, assuming you have one.

I am not White, I don't have a huge footprint, I am poor. At the root of all evil is White People actually.

Light trash? By whose measure? Yours? Who the hell are you?

Why would I call myself "More Torque"? My SRT-4 put down 400 lbs of torque at 25 psi but I wouldn't call myself "More Torque".

It is off-topic because the subject was actually why women would judge the OP differently if he owned instead of rented. Then it moved into talking about real estate as an investment/income stream. You started the ad-hominem attacks and name calling. I call White people on the mat for the damage they have done and are doing, you won't take ownership of the evil, you perpetuate it and tell others what do you like your some sort of god.

Well f**k you and the horse you rode in on. Trying to use the pseudo-intellectual card on me, weak sauce.


Case Closed!
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Postby Hero » Thu Aug 22, 2013 11:55 pm

ContraMundumRants wrote:More arguments for not owning a house:

http://www.jamesaltucher.com/2011/03/why-i-am-never-going-to-own-a-home-again/


Excellent article, especially the photo of the hot naked lady taking a bath in $100 bills :lol:
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Postby momopi » Fri Aug 23, 2013 10:35 pm

Here's a "pigeon problem"

Image

Image

The birds move to different parts of the roof depending on time of the day. The yards and entrance areas are covered in bird droppings. In the photo above, that's actually AFTER I had pressure washed it 2 weeks earlier, and it accumulated that much bird droppings in 2 weeks.

Why would anyone be dumb enough to buy? Well, when the market is very competitive and supply is limited, you go for properties that other buyers run away from because it's a health hazard. The neighbor next door had no birds on their roof because it's covered with bird spikes. Ah-ha! The birds moved "next door". So I knocked on the neighbor's door and asked for their bird guy, who gave this quote:

===================================

Service Description:
• The rain gutters, shingles, and pavement will be cleared of pigeons, brood, eggs, droppings, nests, and debris.
• Those areas will be sanitized.
• Bird spike specifically designed for rain gutters will be installed along the entire length of the gutters around the home. These spikes are made so if you’d like, you could remove them for rain gutter clearing, then they can be clipped back on afterwards.
• Bird spike will also be installed on the ledges and peaks around the home.

Target Pest: Pigeons

Frequency: One-Time

Service Cost: $3,057.08 Flat Fee

Please Note: This installation will prevent future birds from building nests in the gutters and will stop the pigeons from resting on the ledges which is the cause of the bird dropping mess on the ground around the home. Pigeons may still be able to land on the flat slanted portions of the roof that do not have spike. For even further control of the pigeons we recommend a monthly maintenance program.

=======================================

What you get for $3,000:

Image


~$_$~

If anyone is a bright, fit young man willing to work in the most dangerous job of combating ferocious pigeons, I suppose you could strap on a safety harness and use a pressure washer. You gotta wait for a bright sunny day, get up early to pressure wash the roof, then go have lunch and take a nap while waiting for the roof to dry, before you can go back up there to install the clip-on bird spikes. I hope you have the common sense not to walk on a wet roof, if not then this job is not for you. After that you need to pressure wash the ground and shovel all the bird poop into a trashcan, and collect $3,000. If you're feeling generous, you can replace the homeowner's mulch too.

Oh and, while you're at it, leave a couple flyers around the neighborhood, because the birds will be moving next door or across the street, and they'll be calling you shortly. I donno if you need a license or whatever to do this, I'm just the guy who wrote the check. This is why my bank account is usually empty. If I had money I'd either invest it in a house, or spend it to fix a house. ;p
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Postby Teal Lantern » Sat Aug 24, 2013 2:32 pm

momopi wrote:Here's a "pigeon problem"

Target Pest: Pigeons

Frequency: One-Time

Service Cost: $3,057.08 Flat Fee

What you get for $3,000:

Image

~$_$~

If anyone is a bright, fit young man willing to work in the most dangerous job of combating ferocious pigeons, I suppose you could strap on a safety harness and use a pressure washer. You gotta wait for a bright sunny day, get up early to pressure wash the roof, then go have lunch and take a nap while waiting for the roof to dry, before you can go back up there to install the clip-on bird spikes. I hope you have the common sense not to walk on a wet roof, if not then this job is not for you. After that you need to pressure wash the ground and shovel all the bird poop into a trashcan, and collect $3,000. If you're feeling generous, you can replace the homeowner's mulch too.

Oh and, while you're at it, leave a couple flyers around the neighborhood, because the birds will be moving next door or across the street, and they'll be calling you shortly.
I donno if you need a license or whatever to do this, I'm just the guy who wrote the check. This is why my bank account is usually empty. If I had money I'd either invest it in a house, or spend it to fix a house. ;p


:D This ^^^ is why I say a man who is willing/able to swing a hammer or turn a wrench has a bright future, in the West.
Those future divorcees are going to need TO PAY someone to make their home repairs, after bouncing hubby out.
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Postby Jester » Sat Aug 24, 2013 2:45 pm

ContraMundumRants wrote:More arguments for not owning a house:

http://www.jamesaltucher.com/2011/03/why-i-am-never-going-to-own-a-home-again/


Great article.

Saying “my house is an investmentâ€￾ forgets the fact that a house has all the qualities of the ugliest type of investment:

Illiquidity. You can’t cash out whenever you want.
High leverage. You have to borrow a lot of money in most cases.
No diversification. For most people, a house is by far the largest part of their portfolio and greatly exceeds the 10% of net worth that any other investment should be.


For most of us, home purchase should be viewed as a consumer durable purchase, like a car or a washing machine. Not an investment.
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Postby Repatriate » Sat Aug 24, 2013 3:15 pm

momopi wrote:Here's a "pigeon problem"

Image


My parent's house was way worse because the pigeons flew into the attic through a small opening and pooped all over the insulation for a few years. It didn't soak through to the baseboard (luckily) but I still had to clean it up. I remember crawling around in the attic with a 3m filtration mask and goggles stuffing old poopy insulation into garbage bags and then wiping down the attic frame. The poop dust is pretty lethal from what I hear and can cause terminal health issues. I used a water spray and bleach to decontaminate the area.

I bet if you hired someone to do that job I had to do back then it would be more than $3,000.
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Postby marklambo » Sat Aug 24, 2013 9:16 pm

Many people who buy homes and live in them falsely believe that they made a good investment. It's not an investment if you're living in it, making payments on it, and not collecting any income stream from it. It simply just becomes a huge expense and liability. Society makes people believe that owning a home is part of being a successful American. Most Americans buy things way beyond their means, especially their homes. Sometimes it's better to actually rent, even if you can afford to own but sometimes it makes more sense to own vs rent. Every circumstance is different when it comes to owning a home.
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Postby Moretorque » Sat Aug 24, 2013 9:55 pm

marklambo wrote:Many people who buy homes and live in them falsely believe that they made a good investment. It's not an investment if you're living in it, making payments on it, and not collecting any income stream from it. It simply just becomes a huge expense and liability. Society makes people believe that owning a home is part of being a successful American. Most Americans buy things way beyond their means, especially their homes. Sometimes it's better to actually rent, even if you can afford to own but sometimes it makes more sense to own vs rent. Every circumstance is different when it comes to owning a home.


It's not a problem when the payment is only a small fraction of your monthly income all the prices have arisen from esculating housing costs primarily due to FED counterfeiting operation and the masses biting the hook.

You don't own your home today, you are a tenant of the international banking elite.

Were homeless, Thomas Jefferson called this one over 200 years ago.
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Postby momopi » Mon Aug 26, 2013 10:01 pm

Repatriate wrote:My parent's house was way worse because the pigeons flew into the attic through a small opening and pooped all over the insulation for a few years. It didn't soak through to the baseboard (luckily) but I still had to clean it up. I remember crawling around in the attic with a 3m filtration mask and goggles stuffing old poopy insulation into garbage bags and then wiping down the attic frame. The poop dust is pretty lethal from what I hear and can cause terminal health issues. I used a water spray and bleach to decontaminate the area.
I bet if you hired someone to do that job I had to do back then it would be more than $3,000.


Yup. The bird guy said that they always spray down (pressure wash) the bird poop before cleaning, to avoid the dust issues.



marklambo wrote:Many people who buy homes and live in them falsely believe that they made a good investment. It's not an investment if you're living in it, making payments on it, and not collecting any income stream from it. It simply just becomes a huge expense and liability. Society makes people believe that owning a home is part of being a successful American. Most Americans buy things way beyond their means, especially their homes. Sometimes it's better to actually rent, even if you can afford to own but sometimes it makes more sense to own vs rent. Every circumstance is different when it comes to owning a home.


If people bought homes within their means and had it paid off in 15 years, then it can be said that they won't have a house (or rent) payment afterwards, making it easier to retire. However if we look at average length of home ownership and how often people Refi their loans, it's kinda like paying rent to the bank in loan interest.
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Postby marklambo » Tue Aug 27, 2013 12:35 am

momopi wrote:
marklambo wrote:Many people who buy homes and live in them falsely believe that they made a good investment. It's not an investment if you're living in it, making payments on it, and not collecting any income stream from it. It simply just becomes a huge expense and liability. Society makes people believe that owning a home is part of being a successful American. Most Americans buy things way beyond their means, especially their homes. Sometimes it's better to actually rent, even if you can afford to own but sometimes it makes more sense to own vs rent. Every circumstance is different when it comes to owning a home.


If people bought homes within their means and had it paid off in 15 years, then it can be said that they won't have a house (or rent) payment afterwards, making it easier to retire. However if we look at average length of home ownership and how often people Refi their loans, it's kinda like paying rent to the bank in loan interest.


I agree. I remember back about 10 years ago when I had my mortgage business, people were refinancing their homes left and right as if it were a giant piggy bank. People were getting no doc loans, banks were financing people with super high Debt/income ratios. Way more than half the people getting loans didn't really qualify to be involved in home ownership. They were all "house rich" using their equity to buy expensive cars and jewelry. To this day, even with the tightening of loan underwriting guidelines, people still live beyond their means.

The average loan was 30 years, then they came out with 40 year and 60 year mortgages. Most of those people will be dead before they'll even get a chance to pay it off. Just imagine the interest too. They will be paying more than 2-3 times the cost of the home because of interest.
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