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I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....

 
Anonymous Coward
User ID: 74910446
Canada
05/19/2017 11:15 AM
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I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
Own 3 villa style units in the same complex, all bought individually for about $50-60k and paid in full by rolling the rent payments into the mortgage payments over the course of about 10-12 years. Now, two month's rent payments on each pay for the property taxes, maintenance fees and insurance and all the rest is profit, to the tune of about $2400/month, which has allowed me to scale my self-employment down to part time and set my own schedule. Meanwhile all three properties have appreciated in value since I've owned them. The first one I paid $50k for could easily be sold for $65k now and the most recent one, which has a second bathroom would fetch $75. All of these units are currently being rented by millennials who, in casual conversation, tell me how much they like to rent because they think it is stupid to own a house and that they never will. They all work menial service jobs here and there and are always complaining about not having any money. Meanwhile, they are making me a small fortune. People often talk about how stupid and out of touch with the real world that millenials are but there are certainly ways to profit from their stupidity, which I strongly encourage.
epiclol
Anonymous Coward
User ID: 70617131
United States
05/19/2017 11:28 AM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
But....but....but : you are paying taxes.....So you uh don't "own" it!

another do

clappa
Outstanding Sir; Be sure to get a bigger deposit from the idiots as they surely won't respect your property
plus

User ID: 74918288
China
05/19/2017 11:32 AM

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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
There is no ownership without allodial title.

[link to en.m.wikipedia.org (secure)]
Mehitable
User ID: 72188666
United States
05/19/2017 11:39 AM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
Considering the real estate crash a few years ago and how many people were left under water, and that we probably have another crash coming, it can make sense to rent, especially when you're young and don't have your life plans worked out. Lot of people need mobility for work or want to travel. Being tied down to a property that may lose its value substantially is just not attractive for a lot of folks.
Anonymous Coward
User ID: 74922505
United Kingdom
05/19/2017 11:39 AM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
and after the carsh and all the illegals have been evicted along with a realistic interest rate increasing the already huge number of vacant homes, your units will be worth about half what you paid for them.

well done! chuckle
Anonymous Coward
User ID: 70617131
United States
05/19/2017 11:42 AM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
There is no ownership without allodial title.

[link to en.m.wikipedia.org (secure)]
 Quoting: plus

RUMAD-bro
lolatu

whatever

As long as the tennents' check clears; you can discuss this theoretical point in the socialists student union all you want:

As for me I'm going to Florida for"sundowners" on the dock.

5a
Anonymous Coward
User ID: 74922400
United Kingdom
05/19/2017 11:47 AM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
Own 3 villa style units in the same complex, all bought individually for about $50-60k and paid in full by rolling the rent payments into the mortgage payments over the course of about 10-12 years. Now, two month's rent payments on each pay for the property taxes, maintenance fees and insurance and all the rest is profit, to the tune of about $2400/month, which has allowed me to scale my self-employment down to part time and set my own schedule. Meanwhile all three properties have appreciated in value since I've owned them. The first one I paid $50k for could easily be sold for $65k now and the most recent one, which has a second bathroom would fetch $75. All of these units are currently being rented by millennials who, in casual conversation, tell me how much they like to rent because they think it is stupid to own a house and that they never will. They all work menial service jobs here and there and are always complaining about not having any money. Meanwhile, they are making me a small fortune. People often talk about how stupid and out of touch with the real world that millenials are but there are certainly ways to profit from their stupidity, which I strongly encourage.
epiclol
 Quoting: Anonymous Coward 74910446


yeah right, 'villa's' of about 50-60k?
You mean motorhomes with the wheels removed for sure.
Anonymous Coward
User ID: 74916408
Canada
05/19/2017 11:50 AM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
lol the "millennials" got you on this one.

You don't own shit.
The queen has your balls in her purse
Anonymous Coward
User ID: 74834921
United States
05/19/2017 11:50 AM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
and after the carsh and all the illegals have been evicted along with a realistic interest rate increasing the already huge number of vacant homes, your units will be worth about half what you paid for them.

well done! chuckle
 Quoting: Anonymous Coward 74922505


Vacant homes? It must be local because housing is in demand here.

I have a few rent house and the longest it's taken to rent one was 4 days, usually it's rented by the time it's been cleaned and the fresh paint is dry, 1-2 days.

Another bubble won't matter because they are all paid for and people will always need housing. I take no profit until it's paid for and with rent going for between 2-3 times the house note it doesn't take long to pay off the principle.

THANK YOU for being a renter!
Anonymous Coward
User ID: 74834921
United States
05/19/2017 11:54 AM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
lol the "millennials" got you on this one.

You don't own shit.
The queen has your balls in her purse
 Quoting: Anonymous Coward 74916408


The "millenials" don't do research.

www.teamlaw.org/LandPatents.htm
Anonymous Coward
User ID: 74897045
United States
05/19/2017 11:57 AM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
All of that has to be paid back if you want to leave hell.
Anonymous Coward
User ID: 69942021
United States
05/19/2017 11:58 AM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
Taxes
Interest
Maintenance
Insurance

What a renter doesn't spend on homeownership can be put into the stock market, which has also gone up strongy in price.

You need to price ALL costs in before you compare.

You are another idiot who think you are a genius in the housing market. There are more of you than there are those who do understand it.
Anonymous Coward
User ID: 74922537
United States
05/19/2017 12:03 PM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
Homeowners never understand they do not own that home.

They pay the mortgage AND rent in the form of taxes for the rest of their life. If they stop paying that rent or end up in a position where they can't afford it anymore, their landlord the government takes it away.

How stupid is THAT?
Anonymous Coward
User ID: 10023389
Canada
05/19/2017 12:05 PM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
Own 3 villa style units in the same complex, all bought individually for about $50-60k and paid in full by rolling the rent payments into the mortgage payments over the course of about 10-12 years. Now, two month's rent payments on each pay for the property taxes, maintenance fees and insurance and all the rest is profit, to the tune of about $2400/month, which has allowed me to scale my self-employment down to part time and set my own schedule. Meanwhile all three properties have appreciated in value since I've owned them. The first one I paid $50k for could easily be sold for $65k now and the most recent one, which has a second bathroom would fetch $75. All of these units are currently being rented by millennials who, in casual conversation, tell me how much they like to rent because they think it is stupid to own a house and that they never will. They all work menial service jobs here and there and are always complaining about not having any money. Meanwhile, they are making me a small fortune. People often talk about how stupid and out of touch with the real world that millenials are but there are certainly ways to profit from their stupidity, which I strongly encourage.
epiclol
 Quoting: Anonymous Coward 74910446


50K?? Where do you live? If you can rent these units out at that rate and get that from on such an inexpensive units, kudos to you. Unfortunately, what you have is not the norm. Typically in Ottawa, Canada where I live, a unit costing over $1000 in rent, would sell for about 250K.
Anonymous Coward
User ID: 74589909
United States
05/19/2017 12:09 PM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
I bought a 3 bedroom home in north San Diego in 2013 and my total payment was less than what most my friends were paying to rent a 1 or 2 bedroom apartment in the trendy areas closer to downtown. (usually close to 2500 just for a shitty one bedroom) I just moved into a larger house with a view and have my other one rented out cash flowing about 700 a month to a young millennial couple. The house also gained about 100k in equity.
California is really a stupid place to buy real estate because its so expensive, but I grew up in San Diego and really don't see myself leaving anytime soon due to my business being here.
Anonymous Coward
User ID: 74834921
United States
05/19/2017 12:13 PM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
Taxes
Interest
Maintenance
Insurance

What a renter doesn't spend on homeownership can be put into the stock market, which has also gone up strongy in price.

You need to price ALL costs in before you compare.

You are another idiot who think you are a genius in the housing market. There are more of you than there are those who do understand it.
 Quoting: Anonymous Coward 69942021


THANK YOU for being a renter!

MY stock broker thanks you!
MY bank account thanks you!
AND
MY rental management company thanks you!!!!!

What you turds can't seem to grasp is it's a business and being a business it's about profit, if there wasn't profit I and many others wouldn't be doing it.

In any business there will always be business costs and like any other business they get rolled in to what you pay hence the 2-3 times the house note in rent.

I LOVE people like you!!!!!!!!!!!!!!!!!!!!!!
Anonymous Coward
User ID: 47200636
United States
05/19/2017 12:16 PM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
i prefer to rent.
BleachedPink1111

User ID: 43600782
United States
05/19/2017 12:18 PM

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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
OP, I will be like you someday.

I guess I am considered a "Millenial," as I was born in 1982, but I am right on the cusp, so I don't feel dumb like one.

But I am DONE with renting! I want to own my own house that I can fix up, paint how I want it, etc. Then possibly sell for a profit in about 5 years give or take. I am sick of throwing away my money on rent, when I could be putting it into my house, and get back someday if I ever want to sell.

My problem is, I haven't been able to afford one yet, but I am getting veryclose! I am a self-employed artist, so it has been slow going, but I have been working diligently to pay down my debt, and am nearly down to a level I feel comfortable with, plus my credit score is much better.

But I am considered low income, so it has been a struggle the past few years to even think I could afford a home. But I realized there is a way! There is free money out there for those willing to seek it! I can potentially buy a cheap fixer-upper house (I'm totally into refinishing and all that type of stuff) with no money down!

I already have down payment assistance figured out and will potentially have $5,000 towards that. I will have a $1,000 in earnest money saved up, and another $400 for Inspection fee. And the mortgage bank I want to do business with offers an additional $1,000 down payment assistance and they cover closing costs as a house warming gift! So there are plenty of houses in my price range, and the area has very low taxes too.

Plus I have found another free money source. I qualified for and got set up with an IDA account: Individual Development Account, offered through my state. It is a program for low income to help you get ahead a little easier. For the money I save, they will match me 3 to 1. So I plan to max out the amount I can save and what they will match to, and I will end up with $4,800 by next October. The only stipulation to get this money is that it has to be used toward home repair (or downpayment on a house), opening a business, or further school/education. It's a pretty cool program.

I plan on using it to fix up any major stuff with whatever house I get, and then sell within 2 years or so, and take the Capital Gains exemption for the profit.

I plan to buy rental properties someday. I used to be a leasing agent, so I know what it entails. If you haven't had enough time or money to save for retirement, rental properties are the way to retire...

Last Edited by BleachedPink1111 on 05/19/2017 12:27 PM
Anonymous Coward
User ID: 74916408
Canada
05/19/2017 12:19 PM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
lol the "millennials" got you on this one.

You don't own shit.
The queen has your balls in her purse
 Quoting: Anonymous Coward 74916408


The "millenials" don't do research.

www.teamlaw.org/LandPatents.htm
 Quoting: Anonymous Coward 74834921


pfft
laws are for peasants

didn't you know?

or do you claim to be a sovereign like the royals?
Anonymous Coward
User ID: 74916408
Canada
05/19/2017 12:19 PM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
They can take your shit at any time
Anonymous Coward
User ID: 73477917
United States
05/19/2017 12:32 PM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
Wait until the Millennial Idiots decide to stop paying for rent and force you to go through the expensive Eviction process then before they are evicted invoke squatters rights... and the list will go on to deprive you or your property whilst they begin destroying it, and you will not be given a legal leg to stand on to protect your property.
Anonymous Coward (OP)
User ID: 74910446
Canada
05/19/2017 03:33 PM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
Own 3 villa style units in the same complex, all bought individually for about $50-60k and paid in full by rolling the rent payments into the mortgage payments over the course of about 10-12 years. Now, two month's rent payments on each pay for the property taxes, maintenance fees and insurance and all the rest is profit, to the tune of about $2400/month, which has allowed me to scale my self-employment down to part time and set my own schedule. Meanwhile all three properties have appreciated in value since I've owned them. The first one I paid $50k for could easily be sold for $65k now and the most recent one, which has a second bathroom would fetch $75. All of these units are currently being rented by millennials who, in casual conversation, tell me how much they like to rent because they think it is stupid to own a house and that they never will. They all work menial service jobs here and there and are always complaining about not having any money. Meanwhile, they are making me a small fortune. People often talk about how stupid and out of touch with the real world that millenials are but there are certainly ways to profit from their stupidity, which I strongly encourage.
epiclol
 Quoting: Anonymous Coward 74910446


50K?? Where do you live? If you can rent these units out at that rate and get that from on such an inexpensive units, kudos to you. Unfortunately, what you have is not the norm. Typically in Ottawa, Canada where I live, a unit costing over $1000 in rent, would sell for about 250K.
 Quoting: Anonymous Coward 10023389


This is in central Florida. The units are relatively small, the 1 bedrooms are 800sqft and the two bedrooms are 950sqft but they are nice clean, low maintenance. They are part of a managed property which provides all exterior maintenance to both the units and the grounds. very well maintained by a management company. I bought into them at the low end, before the market had even really began to recover. And yes, I bought these units specifically because they were cheap but were still able to pull in $800-$900/month rent. The rise in value has just occurred within the past 2-3 years. My plan is to sell all three when the combined value reaches $250k. Thanks millennials!
rockon
Anonymous Coward
User ID: 33808535
United States
05/19/2017 03:36 PM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
Call me afraid of commitment but 30 years of indebtedness seems like an anchor to freedom
Anonymous Coward
User ID: 73311656
United States
05/19/2017 03:38 PM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
Fuck you Slum Lords!

Squat and give the man squat!
Anonymous Coward
User ID: 74530628
United States
05/19/2017 03:51 PM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
Own 3 villa style units in the same complex, all bought individually for about $50-60k and paid in full by rolling the rent payments into the mortgage payments over the course of about 10-12 years. Now, two month's rent payments on each pay for the property taxes, maintenance fees and insurance and all the rest is profit, to the tune of about $2400/month, which has allowed me to scale my self-employment down to part time and set my own schedule. Meanwhile all three properties have appreciated in value since I've owned them. The first one I paid $50k for could easily be sold for $65k now and the most recent one, which has a second bathroom would fetch $75. All of these units are currently being rented by millennials who, in casual conversation, tell me how much they like to rent because they think it is stupid to own a house and that they never will. They all work menial service jobs here and there and are always complaining about not having any money. Meanwhile, they are making me a small fortune. People often talk about how stupid and out of touch with the real world that millenials are but there are certainly ways to profit from their stupidity, which I strongly encourage.
epiclol
 Quoting: Anonymous Coward 74910446


By "villas"you mean section 8, by "millennials" you mean low income blacks, by them saying they will never own a home, they mean,we don't work or make enough money to own anything.
DuckNCover

User ID: 4677751
United States
05/19/2017 03:55 PM

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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
You should raise their rents every quarter. Tell them its to support the Green Community, Global Warming, the BLM, and any other left wing agenda you could think of....
Anonymous Coward
User ID: 66558368
Canada
05/19/2017 03:56 PM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
Hi it's me, your stupid millennial tenant.
Anonymous Coward (OP)
User ID: 74910446
Canada
05/19/2017 03:57 PM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
Own 3 villa style units in the same complex, all bought individually for about $50-60k and paid in full by rolling the rent payments into the mortgage payments over the course of about 10-12 years. Now, two month's rent payments on each pay for the property taxes, maintenance fees and insurance and all the rest is profit, to the tune of about $2400/month, which has allowed me to scale my self-employment down to part time and set my own schedule. Meanwhile all three properties have appreciated in value since I've owned them. The first one I paid $50k for could easily be sold for $65k now and the most recent one, which has a second bathroom would fetch $75. All of these units are currently being rented by millennials who, in casual conversation, tell me how much they like to rent because they think it is stupid to own a house and that they never will. They all work menial service jobs here and there and are always complaining about not having any money. Meanwhile, they are making me a small fortune. People often talk about how stupid and out of touch with the real world that millenials are but there are certainly ways to profit from their stupidity, which I strongly encourage.
epiclol
 Quoting: Anonymous Coward 74910446


By "villas"you mean section 8, by "millennials" you mean low income blacks, by them saying they will never own a home, they mean,we don't work or make enough money to own anything.
 Quoting: Anonymous Coward 74530628


No. "Villas" here are single floor condos that are part of a larger structure. Each building is separated into 5 villas. All tenants are white working class and pay me directly. We verified incomes and credit history as part of the screening process. Keep trying.

norespect
Anonymous Coward
User ID: 73733285
Australia
05/19/2017 03:59 PM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
the MILLENNIAL is programmed to not work and go on holiday, so you won't catch a millennial with money, of course they have to rent.
Bud Fox

User ID: 2574216
United States
05/19/2017 03:59 PM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
Sometimes yes, sometimes no. Home ownership over the long term is a generally a break even deal for most people. (due to taxes and upkeep). If you can buy units that need only basic maintenance and flip them before costly repairs like roofs need to be done, you can make out like a bandit. Like all investing timing is everything.
Blue Horseshoe loves GLP
Anonymous Coward
User ID: 74530628
United States
05/19/2017 04:01 PM
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Re: I RENT to MILLENNIAL IDIOTS who think home ownership is STUPID....
Own 3 villa style units in the same complex, all bought individually for about $50-60k and paid in full by rolling the rent payments into the mortgage payments over the course of about 10-12 years. Now, two month's rent payments on each pay for the property taxes, maintenance fees and insurance and all the rest is profit, to the tune of about $2400/month, which has allowed me to scale my self-employment down to part time and set my own schedule. Meanwhile all three properties have appreciated in value since I've owned them. The first one I paid $50k for could easily be sold for $65k now and the most recent one, which has a second bathroom would fetch $75. All of these units are currently being rented by millennials who, in casual conversation, tell me how much they like to rent because they think it is stupid to own a house and that they never will. They all work menial service jobs here and there and are always complaining about not having any money. Meanwhile, they are making me a small fortune. People often talk about how stupid and out of touch with the real world that millenials are but there are certainly ways to profit from their stupidity, which I strongly encourage.
epiclol
 Quoting: Anonymous Coward 74910446


By "villas"you mean section 8, by "millennials" you mean low income blacks, by them saying they will never own a home, they mean,we don't work or make enough money to own anything.
 Quoting: Anonymous Coward 74530628


No. "Villas" here are single floor condos that are part of a larger structure. Each building is separated into 5 villas. All tenants are white working class and pay me directly. We verified incomes and credit history as part of the screening process. Keep trying.

norespect
 Quoting: Anonymous Coward 74910446


So they have jobs, are white, keep the place nice and have verfied income yet you're still bitching about them. You sound like a lying faggot. And btw a villa in Florida going for 50-60k is a guaranteed shithole


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