Rant of the moderately wealthy... - Page 2 - WickedFire - Affiliate Marketing Forum

tspesh · 02-08-2012, 01:58 PM

Quote:

Originally Posted by Benji49

So I get up $325k to reno my house and the stupid contractor revises the quotes to $425k. It's day 4 since getting this shoved in my face and I'm still pissed.

So another six months of working really hard to dig up $75k which will go to some contractor but not that one.

My stupid roof on my house is leaking so I can't put off renos forever.

And I'm thinking when I was 23 and living in a flophouse with 6 other people of which 4 were drunks, with no money for food, life was a helluva easier. And MUCH simpler.

Jeepers, and I HAVE TO DO MORE TAX WORK AGAIN. Just did my corporate and now I have to calculate my t4s and then it's my personal tax.

Pile on you bastards, pile on.

It's said that after about 80k there is diminishing returns in regards to happiness.

Beach Affiliate · 02-08-2012, 02:08 PM

Quote:

Originally Posted by Fellah

I bought an apartment downtown Toronto on Bloor street for 710k about 5 years ago. It was 2 bedroom + a big office, 2 balconies one which was massive, altogether about 1600 sqf + a 300 sqf patio. I put in some renovations like tiger wood flooring through out the entire place, fix it up etc. When I bought the place I thought I was going to live there at LEAST until I was ready to have kids etc. My mortgage was about $4000/month and condo fees were $1500/month.

About two years ago I just kind of to hell with it, I sold my place (luckily Canada's real estate market wasn't like US and I got 760k+ so I pretty much broke out even after real estate fees and renovations) and I moved to the Dominican Republic.

Out here I am renting an apartment that's a little bigger, it's 3 bedroom, 2 living rooms, big kitchen etc. and I'm paying $675/month + electricity/cable/etc. I'm renting my jeep. Basically I am free as a bird, I am very comfortable but if I decide to leave this country tomorrow, I could.

The point I'm trying to make is I'm 28 years old and one of the biggest mistakes I made was thinking I needed to buy a place before I was ready to. My advice to any of you young brah's working online and making monies is to live abroad, go experience different stuff. Don't get locked down with mortgage payments and renovations etc before you have to.

IMO, you're doing it right.

Quote:

Originally Posted by Fellah

It may be terrible advice financially but I am way happier.

Maybe not. Lots argument to be made for renting vs. buying. I saw many a chart just a year or so ago that made a compelling argument for renting over purchasing.

Of course, everyone's needs are different. Goes without saying.

But the tired old adage of "throwing your money away" by renting just isn't true.

If someone on this forum can't figure out a way to utilize their money so that any ROI on owning a home vs. not isn't a drop in the bucket, then I feel for them.

Beach Affiliate · 02-08-2012, 02:12 PM

Quote:

Originally Posted by tspesh

It's said that after about 80k there is diminishing returns in regards to happiness.

Never heard that. How does one put a price on happiness?

80k is a sports car (albeit probably slightly used)

or 8 coke & hooker filled weekends

or a nice little chunk of startup capital.

I'd personally tell people to lean towards the last one of those options, but I think most people just like to make bad decisions just so they can't bitch about them later.

C'est la vie.

Medici · 02-08-2012, 04:18 PM

Quote:

Originally Posted by Fellah

I bought an apartment downtown Toronto on Bloor street for 710k about 5 years ago. It was 2 bedroom + a big office, 2 balconies one which was massive, altogether about 1600 sqf + a 300 sqf patio. I put in some renovations like tiger wood flooring through out the entire place, fix it up etc. When I bought the place I thought I was going to live there at LEAST until I was ready to have kids etc. My mortgage was about $4000/month and condo fees were $1500/month.

About two years ago I just kind of to hell with it, I sold my place (luckily Canada's real estate market wasn't like US and I got 760k+ so I pretty much broke out even after real estate fees and renovations) and I moved to the Dominican Republic.

Out here I am renting an apartment that's a little bigger, it's 3 bedroom, 2 living rooms, big kitchen etc. and I'm paying $675/month + electricity/cable/etc. I'm renting my jeep. Basically I am free as a bird, I am very comfortable but if I decide to leave this country tomorrow, I could.

The point I'm trying to make is I'm 28 years old and one of the biggest mistakes I made was thinking I needed to buy a place before I was ready to. My advice to any of you young brah's working online and making monies is to live abroad, go experience different stuff. Don't get locked down with mortgage payments and renovations etc before you have to.

It may be terrible advice financially but I am way happier.

What made you decide on DR?

tspesh · 02-08-2012, 04:41 PM

Quote:

Originally Posted by Beach Affiliate

Never heard that. How does one put a price on happiness?

80k is a sports car (albeit probably slightly used)

or 8 coke & hooker filled weekends

or a nice little chunk of startup capital.

I'd personally tell people to lean towards the last one of those options, but I think most people just like to make bad decisions just so they can't bitch about them later.

C'est la vie.

I'll dig up the study...

And when I say 80k I mean 80k per year.

Andrew Scherer · 02-08-2012, 05:15 PM

does anyone else lol to themselves at the thread title?

"rant of the moderately wealthy.."

haha i like it

Fellah · 02-08-2012, 05:20 PM

Quote:

Originally Posted by Medici

What made you decide on DR?

Kind of a long story but basically I wanted to go to Brazil but it was February when I was looking and the whole country was booked solid because of Carnival. I started looking around for other places to go in the meantime and ended up on VRBO.com, DR had a lot of nice spots and so I decided to check it out and haven't left since. I had my apartment on the market for a while and then when I got an offer it was on a condition of like a 12 day close or something ridiculous so I really had very little time to find a place to go to.

The other day I read a thread about someone living in Cabo, Mexico and it sounded waaaay better than here. I'm not necessarily advocating any one move to the DR, it has it's pros and cons but really my point was more so to travel and experience life before being tied down to a mortgage.

Hav3n · 02-08-2012, 05:22 PM

Quote:

Originally Posted by tspesh

I'll dig up the study...

And when I say 80k I mean 80k per year.

The Perfect Salary for Happiness: $75,000 - The Wealth Report - WSJ

Rusky · 02-08-2012, 05:27 PM

First World Problems.

My problem yesterday was that I forgot my charger in the office. I had go on battery conserve mode.

nickCR · 02-08-2012, 07:35 PM

OP Hongcouver is gonna crash. Don't waste your money or go in debt. Sell your house, get another one. It's cheaper and better.

You shouldn't be living down on East Hastings anyway.

@Fellah: Fucking good deal man. I heard a lot about the DR since the company I used to work with started there and brought everyone to Costa Rica when they moved so everyone has stories about there. Lots of good.

DocApocalypto · 02-09-2012, 12:09 AM

tend to agree with Nick. i've been dying to add on to my house, add a pool, etc but it seems crazy with so many huge houses on the market, short sales, foreclosures. turnkey luxury is everywhere.

but do what you want. if you have the money, do it up.

and to the ambiguously dogmatic gay duo, i've almost paid off my mortgage. let me know when you pay off your landlord. inb4 mises article about property taxes and maintenance and you are a slave forever. no shit.

i am a landlord. because of homeownership. and i know a few guys in my town KILLING it right now in real estate renting to mises fags.

emp · 02-09-2012, 01:54 AM

Quote:

Originally Posted by eliquid

^^ I stay mad bro, its a chronic condition.

Best quote ever, I am so stealing this. (Also fits me IRL)

::emp::

EricVonDoobie · 02-09-2012, 02:17 AM

Quote:

Originally Posted by Rusky

First World Problems.

My problem yesterday was that I forgot my charger in the office. I had go on battery conserve mode.

I love how we'll never in a million years see a black person say "first world problems" since saying "first world problems" is just code for saying "white people problems" but either way I can sadly relate to those tragic images you posted.

DewChugr · 02-09-2012, 10:06 AM

Quote:

Originally Posted by Beach Affiliate

It was never a decline of American soil - just a reality adjustment for over-priced McMansions built in developments that were just clay fields only months before.

Most of the people in America whining about being upside down mortgaged themselves to the hilt for a box of tinder that was built in "suburbs" that was nothing but farm land only a decade (or less) before.

The developers flattened the land, the counties ran in some drainage, the cable companies ran some cable, and the electric companies ran some wires.

Then the builders, subcontractors, and everyone else built those boxes.

Then the banks lent the money to the idiots that HAD to have the new box with the granite/stone/tile what-the-fuck-ever because Tom and Susie Dipshit got one and the schools are sooo good for their little fuck-trophies.

The businesses made millions and the idiot middle class dipshits couldn't run to get mortgaged up to their eyeballs fast enough.

As for OP:

Hope everything works out for you. but you've gotten some good advice in this thread about better planning. I'd heed it.

Or not. Fuck it, it's your house not mine. Do what you want.

Good luck, bro.

Agree. I see these house hunter shows on TV and I have to laugh/cringe at all these people buying houses with 2.5-3% down. Really?. I was always told PMI unless you have 20% and that's just flushing your cash down the toilet.

Medici · 02-09-2012, 11:20 AM

Quote:

Originally Posted by Fellah

Kind of a long story but basically I wanted to go to Brazil but it was February when I was looking and the whole country was booked solid because of Carnival. I started looking around for other places to go in the meantime and ended up on VRBO.com, DR had a lot of nice spots and so I decided to check it out and haven't left since. I had my apartment on the market for a while and then when I got an offer it was on a condition of like a 12 day close or something ridiculous so I really had very little time to find a place to go to.

The other day I read a thread about someone living in Cabo, Mexico and it sounded waaaay better than here. I'm not necessarily advocating any one move to the DR, it has it's pros and cons but really my point was more so to travel and experience life before being tied down to a mortgage.

I've heard the same about Cabo and gotta say it's pretty tempting.

you're spot on about living life vs. getting tied down. thanks.

pixelo · 02-09-2012, 02:27 PM

Quote:

Originally Posted by Medici

I've heard the same about Cabo and gotta say it's pretty tempting.

you're spot on about living life vs. getting tied down. thanks.

What about all the cartels and killing etc in Mejico?

Fellah · 02-09-2012, 02:39 PM

Quote:

Originally Posted by pixelo

What about all the cartels and killing etc in Mejico?

I know your question wasn't directed at me, but the guy who posted in a thread here on WF said it was a non-issue. Cabo is a tourist area and it's well protected. The violence is in border towns and other gang controlled areas of the country. I avoided Mexico when I was looking to move because of all their problems, but at this point I'd definitely consider a place like Cabo.

Fellah · 02-09-2012, 02:41 PM

Quote:

Originally Posted by nickCR

@Fellah: Fucking good deal man. I heard a lot about the DR since the company I used to work with started there and brought everyone to Costa Rica when they moved so everyone has stories about there. Lots of good.

Nice, a buddy of mine actually just got a job with a sports betting company that moved from CR to DR. I have a friend living in CR right now, he just moved there. I'll probably be making a trip at some point.

Dresden14 · 02-09-2012, 07:44 PM

doesnt take much money to redo a roof... get it together, man up - and do it yourself. Don't outsource shit like this. If he's charging you 400k for sake of argument, it should cost 150-200 max.

BlueYonder · 02-12-2012, 09:24 AM

If you do too much renos and expansion, your property taxes could go up by thousands. Permanently. This could mean serious money if you live in a county like mine (Nassau, NY) where the taxpayers are basically told to bend over.

Two weeks ago a seriously decrepit and broken down back room in my house was totally renovated and modernized. The cost? $2,500, and I'm doing the painting myself. If I posted pictures you'd be amazed at the change.

Your estimate is now $425K? This is far past the point of diminishing returns. You want a place to live, or a money pit to stroke your ego? Fix the roof (after getting several competing estimates), and then reassess with a cold and calculating eye what kinds of work you really, REALLY need moving ahead.

Remember: A house is a non-productive asset if you're not renting it, and should be viewed as a residence and not an investment. My .02 from the renovation trenches.

02-08-2012, 05:15 PM	#56 (permalink)
Andrew Scherer MarketersCenter.com Join Date: Feb 2009 Location: Mexico Posts: 3,848 iTrader: 76 / 100%	does anyone else lol to themselves at the thread title? "rant of the moderately wealthy.." haha i like it Share Share this post on Digg Del.icio.us Technorati Twitter __________________ WF Threads: Press Release Marketing Machine: The Best Quality Writing and Syndication Online

02-08-2012, 05:27 PM	#59 (permalink)
Rusky Unemployed for 8 years Join Date: Mar 2008 Location: Thinking Chair Posts: 1,759 iTrader: 8 / 100%	First World Problems. My problem yesterday was that I forgot my charger in the office. I had go on battery conserve mode. Share Share this post on Digg Del.icio.us Technorati Twitter __________________ Green Green, Yellow.

02-08-2012, 07:35 PM	#60 (permalink)
nickCR Senior Member Join Date: Feb 2010 Location: CR Posts: 632 iTrader: 1 / 100%	OP Hongcouver is gonna crash. Don't waste your money or go in debt. Sell your house, get another one. It's cheaper and better. You shouldn't be living down on East Hastings anyway. @Fellah: Fucking good deal man. I heard a lot about the DR since the company I used to work with started there and brought everyone to Costa Rica when they moved so everyone has stories about there. Lots of good. Share Share this post on Digg Del.icio.us Technorati Twitter __________________ Good things come to those who wait!

02-09-2012, 12:09 AM	#61 (permalink)
DocApocalypto Banned Join Date: Aug 2010 Posts: 648 iTrader: 11 / 100%	tend to agree with Nick. i've been dying to add on to my house, add a pool, etc but it seems crazy with so many huge houses on the market, short sales, foreclosures. turnkey luxury is everywhere. but do what you want. if you have the money, do it up. and to the ambiguously dogmatic gay duo, i've almost paid off my mortgage. let me know when you pay off your landlord. inb4 mises article about property taxes and maintenance and you are a slave forever. no shit. i am a landlord. because of homeownership. and i know a few guys in my town KILLING it right now in real estate renting to mises fags. Share Share this post on Digg Del.icio.us Technorati Twitter mattseh likes this.

02-09-2012, 07:44 PM	#69 (permalink)
Dresden14 Haters gonna H88 Join Date: Sep 2010 Location: Los Angeles, CA Posts: 2,655 iTrader: 62 / 100%	doesnt take much money to redo a roof... get it together, man up - and do it yourself. Don't outsource shit like this. If he's charging you 400k for sake of argument, it should cost 150-200 max. Share Share this post on Digg Del.icio.us Technorati Twitter __________________ AIM U/N: 'debt' ::emp:: is a fag and should be relieved of his mod authoritah. Likes to ban people who don't follow his corrupt, immoral, multiculturalist agenda in the STS section. Dick

02-12-2012, 09:24 AM	#70 (permalink)
BlueYonder Flaming panties Join Date: Aug 2008 Location: Central N00bistan Posts: 2,230 iTrader: 32 / 100%	If you do too much renos and expansion, your property taxes could go up by thousands. Permanently. This could mean serious money if you live in a county like mine (Nassau, NY) where the taxpayers are basically told to bend over. Two weeks ago a seriously decrepit and broken down back room in my house was totally renovated and modernized. The cost? $2,500, and I'm doing the painting myself. If I posted pictures you'd be amazed at the change. Your estimate is now $425K? This is far past the point of diminishing returns. You want a place to live, or a money pit to stroke your ego? Fix the roof (after getting several competing estimates), and then reassess with a cold and calculating eye what kinds of work you really, REALLY need moving ahead. Remember: A house is a non-productive asset if you're not renting it, and should be viewed as a residence and not an investment. My .02 from the renovation trenches. Share Share this post on Digg Del.icio.us Technorati Twitter __________________ Better copy = More sales I write sales copy that moves the numbers. Review thread here Try Article Marketing Robot FREE

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