inner wrote: I used to do a lot in real estate, especially foreclosures, before the recession. You were talking about buying for ownership, not rental income. Good job on changing the goal posts but I will continue playing your charade.
Purchasing a condo back at home is very different to purchasing a home in a foreign country. I had to laugh at you talking about Ukraine. Have you ever been there? I have and I wouldn't do any business in that country. Far too corrupt, especially when they smell foreigner.
There's plenty of countries here in Europe he could have bought in that aren't corrupt.
inner wrote:Typically buying makes sense when you live in an area for 7+ years. That is when buying is advantageous to renting. It isn't like you don't have to pay taxes, insurance and property fixes/enhancements while you own so please don't try to make this a mortgage payment versus rent type of argument.
He's been in Europe since 2007 he claims, if he was smart he should have bought something. He even claims to have 2 years worth of saving saved up, so he obviously could afford something and even pay cash for it.
Yes theres upkeep and taxes but you get the write-offs and your actually owning and not renting a place. He's been wasting $500-$800 a month on rent for the last 7 years thats roughly on average $7800 a year x 7 = $54,600 and you think thats being the better businessman?
He's risked and lost more not buying something.
inner wrote:As for real estate being a safe investment, ask the people who lost their homes when they purchased at the top of the bubble. Not so safe for them unless you plan on holding for a long time. Now, why would a guy, like Roosh, want to buy a property when he may or may not want to live in a location for a long time. Yeah, you changing he goal posts didn't make me forget that this is about Roosh and you trying to disqualify his income claims because he didn't buy a property in Ukraine or Poland.
Listen, you can defend your little boyfriend all you want. I still don't buy it, capisci?
inner wrote:Cash is king, man. When you don't know if your income will dive the next year you need a buffer to sleep at night. Why the hell would you want to put all of that extra cash into real estate. Foreign real estate at that! You think he will be able to roll into a foreign bank and take out a loan? Hell, getting a loan while working for yourself is a lot tougher not to mention if his income took a decrease he may not be able to pay his mortgage.
I disagree, I prefer assets that generate stable passive income over a bunch of cash sitting in the bank. He could get a loan in Europe with that kind of income and proof of it. If he really does do good business he wouldn't have to worry a "sudden drop" in income. There are lots of normal people who buy houses without such a worry. Plus I told you he could afford one cash.
inner wrote:Now, you don't know if has put some of his money into the stock or bond market. Do you? That would be a more sensible solution to real estate. Being able to pull out cash quickly is far more important than rent payments. If you had worked for yourself you would understand this.
You think real estate is risky but stocks aren't? Playing the stock market is like gambling in vegas, sure theres returns there but you can also loose it all in an instant.
Normal people don't have this I need to pull out all my cash quickly, only drug dealers and other low life people think that way. I have worked for myself for the last 7 years and never thought that way.