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Non Gaming Discussions => Off-Topic => Topic started by: GmanJoe on January 14, 2004, 02:52:40 PM
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It\'s quite large for two people, 1700 square feet of space, 2 bedroom, 2 full baths, large kitchen, a sun room, a deck and the usual dining and family room.
No more renting for me, finally.
Here\'s my advice to you youngin\'s : open a bank account, put $20 to $50 a month into it and DO NOT EVER WITHDRAW FROM IT unless for medical emergency reasons.
Putting a significant downpayment prevents a lot of people from buying homes. Why? Not enough savings, that\'s why. Also, closing costs may be added to the downpayment as well.
I\'m gonna rent this one out in a couple of years, get another condo and rent that out too and so on. Hopefully, I\'ll have 4 condos rented out and after several years, I\'ll sell them all and be rich.
Today, I saw the attorney hand over $125,000 to a woman who bought that condo 5 years ago for just $80,000. Yeah, her net profit was $125,000! That was her 4th and last condo she sold.
She\'s a secretary who makes less than I do. And ~she~ is almost a millionaire today and she\'s not even 50 years old yet.
Anyway, the condo is beautiful and one day, I too will exploit some young couple into handing $100,000 or more to me. :D
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If she bought it for $80,000 and sold it for $125,000, her net profit is $45,000, not $125,000. How is she a millionaire? Certainly not from small real estate investments like this one.
BTW, which city do you live in?
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a good idea to make some cash...but
don\'t get condos... in here its getting nothing or getting a house!
my aunt brought a house for about $300,000 10 years ago and sold it for $410,000 about 4 years ago.
and put way more than just $50. Try more like at least $300, but I will invest some of that. Money in the bank don\'t earn you any interest nowadays.
Do it like we do it, buy a 3floor house for about $300,000 to $400,000. Rent out two of the floors. here each floors is $1300 a month. That gives you $2600 a month just for rent money. Its enough to pay the bills and mortage. And then you can save up for another house.
ohh yeah, and I like this smilie...:gman: hehe
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Well congrats.
Hopefully we can get some pics.
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Damn, I thought you bought condoms.
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Originally posted by Coredweller
If she bought it for $80,000 and sold it for $125,000, her net profit is $45,000, not $125,000. How is she a millionaire? Certainly not from small real estate investments like this one.
BTW, which city do you live in?
She didn\'t sell it for $125,000. She made $125,000 from selling her condo to me. Her other condos made way more profit (the other ones were bought for $25,000 and were completely gutted and restored and later sold at over $300,000, minus the upgrade costs, well, she\'s almost a millionaire). Where I live, we have single family homes (4 bedroom type) going for a half million to $800,000. It\'s all about location.
Where I live....well, it\'s close enough for one of the mods to consider putting a restraining order on me if I knew exactly where he lives. :D
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Who is the Mod?
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mm
Pittsburg
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Condo = too lazy to mow the lawn.
j/k! Congrats on the purchase - its much better to own then rent.
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Originally posted by GigaShadow
Condo = too lazy to mow the lawn.
j/k! Congrats on the purchase - its much better to own then rent.
Thank ya! I worked out in the 24hour gym last night our condo facility has and also I need to buy a billiard stick and some billiard balls since they have a billiard table no one uses. This place is like a freakin\' vacation villa than a condo. :D If they had an arcade room, I\'d be in heaven!
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Originally posted by lionken07
a good idea to make some cash...but
don\'t get condos... in here its getting nothing or getting a house!
Condos in my area, beacuse of its location, are excellent investments.
Originally posted by lionken07
and put way more than just $50. Try more like at least $300, but I will invest some of that. Money in the bank don\'t earn you any interest nowadays.
Considering that there are a large number of under 20 year olds here, $50 a month is a good. That\'s who I was mainly addressing. The ones with good jobs should already know better.
Originally posted by lionken07
ohh yeah, and I like this smilie...:gman: hehe
I like this smilie better. (https://psx5central.com/community/proxy.php?request=http%3A%2F%2Fwww.smiliegenerator.de%2Fs21%2Fsmilies-28154.png&hash=87dd1f1862b00a801703ef36db491f0598b97c67)
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So when do we get to see some pics of this place?
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Originally posted by GigaShadow
So when do we get to see some pics of this place?
I need to repaint the walls, replace the floor molding, add a chair rail, install wooden flooring....and THEN get furnitures.
It\'ll be a while. The place is actually good the way it is but I want it to be done MY way.
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Take some pictures now and post it then after you make improvements post updated pictures - that way we can see a before and after. I did that with my old house and it was fun to see the finished look and take pride in your hard work.
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Before and After pics. Will do.
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Congrats Gman on the purchase. We moved into the house I\'m living in now and bought it for like 350,000 dollars, maybe a bit less. Its over 400grand now and that was just in 2 years. Real estate is a good thing to invest, in the right location that is.
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Congrats on your purchase.
Just shows if you work and and save hard you can buy something nice.
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Congrats Gman! I expect an invitation when it\'s done. :)
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Sammy wants to come live with you while he gets his US citizenship. ;)
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Originally posted by GigaShadow
Sammy wants to come live with you while he gets his US citizenship. ;)
He\'s a hobbit. Anyone can dig a hole in the ground. I know a cemetary near my place. :p
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Originally posted by GigaShadow
Sammy wants to come live with you while he gets his US citizenship. ;)
Originally posted by GmanJoe
He\'s a hobbit. Anyone can dig a hole in the ground. I know a cemetary near my place. :p
:laughing: x 2
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Depending on what state you live in you two could act like gay lovers who planned on getting married and they couldn\'t deport you... then again knowing Sammy he wouldn\'t be acting ;)
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Have you seen his hobbit feet? As mm would say :
One word : barnacles.
:p