Are prices like this everywhere?

[ultrarunner]

In 2008 everything was actually paid for… equity subsequently took a bath to the extreme but rents were stable and was able to work out a payment plan for two renters having trouble.

The home next to me sold for 510k in 2008 to two hardworking brothers from Mexico who had a landscaping company… they walked away back to Mexico and 18 months later the bank sold the home for 100k. Last year the same home sold just under 800k.

I’ve never put down less than 25% and more typical 40%.

The clerk at Safeway bought 5 homes and lost 4 but two new homes were basically closing costs for down payment.

Many that walked… including several Docs did strategic defaults… even a lawyer I know did… they bought better homes for way less money in same neighborhood school district and Gave Back the first homes that had loans of 500-800k more than value 2009-12

 

[tallyho8]

I believe that buying the cheapest home in a nice neighborhood is one of the best real estate investments. Having an expensive house in a neighborhood of low class homes is the worse. I bought my first home in 1973 for $15,000 in a neighborhood that everyone wanted to live in but it was the worst house in the area. I lived in it 1 year until I inherited my parents home and then I rented it out until last year.

After all expenses paid I collected rent of over $500,000 in 2022 dollars. Last year hurricane Ida destroyed it and it had to be torn down so I sold it as is. It sold for $135,000. This prompted me to make similar investments over the years and I feel they were very good to me.

 

[MossRoad]

?

It's a musical about Franky Valli and the Four Seasons.

 

[MossRoad]

I feel we just took a giant step back with this. Now you think I need a principles lesson on definitions. LOL.

When you can show me mathematically how it's possible to have a high credit score with no desire to carry any credit...get back to me.

I already showed you. Several others have showed you.

 

[MossRoad]

Also...I guess some people can claim a good score is 670. That is not my definition though...

Having three different descriptions for good is confusing. I believe good to be 825+

Apparently the industry says above 670 is good. By that chart, my kids are good and very good, and my wife and I are exceptional.

 

[Snobdds]

I already showed you. Several others have showed you.

not mathematically you haven't.

You are tying to prove in the abstract. No-one has ever convinced anyone in the abstract.

 

[MossRoad]

Just like every train locomotive for many decades.

Toyota Pruis is a parallel hybrid, which means it can run on gas, battery, or both. If the battery is charged, and it runs out of gas, it can still move.

Diesel powered locomotive runs out of diesel, it stops.

 

[MossRoad]

not mathematically you haven't.

You are tying to prove in the abstract. No-one has ever convinced anyone in the abstract.

Well then, here's some math...

My payment history, never missed a payment = excellent 35%
My amounts owed is zero = 30%
My new credit is minimal, but has little effect on my score = 9%
My credit history is long = 15%
My credit mix is not that large = 6%

Total = 95%

95% of 850 = about 805, which happens to be pretty close to my and my wife's credit scores.

Several of us have told you that we're debt free, carry zero balances on our credit cards, and have really good credit scores. I'm not sure why you can't believe that, but apparently that's the case.

 

[ultrarunner]

When screening tenants good credit was not the norm...

So we went with no bad credit such as charge offs which many had, no evictions and two suitable references...

Screening opens ones eyes as to how can someone in their 20-30's have pages of charge offs?

Utilities, Jewelry, Cable, Cell Phone, Car Notes round off the top...

Sometimes we would have a large medical as a stand alone or Bankruptcy.

If a person lies or has an eviction no.point going further.

Sad part is some parents/family members destroy their children's credit...

One young lady had a huge file... her mother was using her child's social...

 

[MossRoad]

...

One young lady had a huge file... her mother was using her child's social...

We know of someone that did that to their kid. Just awful.