If I had followed my intuition a little better back in 2006 I should have flipped this house and made killing. But the I would have needed the intuition to rent for a couple years then buy something cash. You're lucky that your business if working okay for you. For some of us old farts it's going to be more difficult. I have some excellent experience but it not welcome at the kiddie sandboxes. One recruiter sent me a link to a company who needs some work done but it really is a sandbox and I don't think "grandpa" will fit in. So I think maybe I ought to get my equity out of this place as Bay Area housing prices climb (they are right now) and go be trailer trash. :-D
On 01/15/2013 10:35 AM, doctordumb...@rocketmail.com wrote: > Exactly - wait til the equity builds up, and get right back into hock - sort > of a personal equivalent to the leveraged equities and junk bond market. > Fortunately when I was learning about real estate in the 80's, second > mortgages, aka home equity loans, were frowned on. > > Yep, a thirty year loan at 6 percent for about 300K, costs about 2 million, > if paid off on schedule. I always tried to keep the term as short as possible. > > --- In FairfieldLife@yahoogroups.com, Bhairitu wrote: >> How many times did you refinance? :-D >> >> I'm on my third mortgage but the payment is what I would pay for rent on >> a two bedroom apartment and that includes insurance and taxes. Of course >> if things get REALLY GOOD I might be able to pay it off, no penalty. >> Technically over the last 12 years I paid off the principal. These >> mortgage loans are a sham and scam. I hate banks. >> >> We can slash some programs but their not the ones that the Republicans >> want slashed. We don't need to be an empire so defense can be cut way, >> way back. >> >> On 01/15/2013 07:54 AM, doctordumbass@... wrote: >>> I agree the fear of debt is BS. When I purchased my first house, I put 10% >>> down, with an agreement with the bank that I would be in debt for the other >>> 90% for the next 30 years, owing most of the principal for years to come. >>> It works as long as I can continue to find work to make income, to pay the >>> mortgage. >>> >>> Those who cynically rally around the debt as some sort of doomsday >>> mechanism, are just throwing in the towel. I would very much like to see a >>> WPA type program in the USA, focused as before on public infrastructure and >>> beautification. Put people back to work on the government dime, today. >>> >>> --- In FairfieldLife@yahoogroups.com, "raunchydog" wrote: >>>> "If you fix the jobs problem you fix the deficit problem. The reverse is >>>> not true. If you "fix" the deficit you kill jobs." >>>> http://www.eschatonblog.com/2013/01/f-deficit.html >>>> >>>> Obama got elected because Romney didn't care if people ate grass by the >>>> side of the road. It was the GOP's decision to focus on reducing the >>>> deficit, as opposed to fixing unemployment. Republicans only care about >>>> the debt when a Democrat is in power and then they use it as an excuse to >>>> cut the social safety net. When Dubya was in office he cut taxes for the >>>> rich and spent billions on a bloody war in Iraq. Republicans didn't care >>>> about the debt during Dubya's presidency. Or Poppy's. Or Reagan's. And it >>>> was always pretty clear that Romney didn't care about the deficit except >>>> insofar as he could use it as an excuse to destroy entitlements. >>>> >>>> Krugman: Campaign against this austerity obsession...when somebody says, >>>> `Well, we need to slash here, we need to slash there.' That's actually >>>> going to hurt the economy...This is the same kind of animal that we >>>> confronted in the '30s. This is depression economics. And the nature of >>>> the solution is not really very different now from what it was >>>> then...Depression economics is when the normal things you do to boost the >>>> economy, have the Federal Reserve cut interest rates a little bit, are no >>>> longer available or effective. It's a situation where the normal rules of >>>> what you– of economic policy, have to be put on hold, and you really need >>>> to do extraordinary stuff." >>>> http://billmoyers.com/segment/paul-krugman-on-recessions-and-recovery/ >>>> >>>> >>>> >>>> --- In FairfieldLife@yahoogroups.com, "Richard J. Williams" wrote: >>>>> >>>>> wgm4u: >>>>>> When are you folks going to wake up, this president >>>>>> is out of control! He's going to crash the economy!! >>>>>> >>>>> We are screwed for at least the next four years. >>>>> >>>>> It would take at least ten years for the U.S. >>>>> economy to improve substantially if we voted >>>>> the Dems out of office in the next election. >>>>> >>>>> Obama is going to spend your money and redistribute >>>>> it; then he is going after your guns; Hagel will >>>>> disarm the U.S. military. Brennan will 'waterboard' >>>>> some and others will be sent to Gitmo. >>>>> >>>>>> How much more debt can we take? >>>>>> >>>>> Some Americans are already on Obama's target list >>>>> to be killed by drones. Extrajudicial killings, >>>>> including children, will be the norm soon. >>>>> >>>>> 'Anwar al-Awlaki's Son, Killed By Drone Strike' >>>>> http://tinyurl.com/9yoml6q >>>>> >>>>> "You bourgeoisie tremble! You are screwed!" >>>>> >>>>> 'New Russian nuclear submarine enters service' >>>>> http://tinyurl.com/bczr2yc >>>>> >>> > > ------------------------------------ To subscribe, send a message to: fairfieldlife-subscr...@yahoogroups.com Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!'Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/FairfieldLife/join (Yahoo! 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