"The Rock" on Leasing. BALLER$

[Roger Bacon]

chattle

I love it when you talk dirty.

[hrspwr1]

Is The Rock gay?

 NO !!! He only has sex with other men to express his masculinity.

[anabolichalo]

Any stupid twat that throws dead money on RENT to be 'flexible' is a prick.

I put every spare coin into paying off the house, and then I will be relatively free of slavery when in 10-12 years it's paid off.

Plus my children have a head start in life when I drop dead aged 90 on top of my 21-year old girlfriend.

haha i think it's hilarious when ppl say that

renting a house 

[ESFitness]

mortgage/expense on a 160k house is around $600/month

rent that fucker out for $1100 all day.

buy two 160k houses (where I am actually, is surprisingly cheap for homes.. 160k for a decent 3br).

rent one for 1100-1200 and you're living for free. that's an extra $15k/year you have in the bank you'd normally be spending on rent/mortgage.

own 3, rent two out and you're making an extra $500-600/month profit.

own 4, and you're profiting about $45k/year just for being in debt on your mortgages.

and so on and so on.

[anabolichalo]

mortgage/expense on a 160k house is around $600/month

rent that fucker out for $1100 all day.

buy two 160k houses (where I am actually, is surprisingly cheap for homes.. 160k for a decent 3br).

rent one for 1100-1200 and you're living for free. that's an extra $15k/year you have in the bank you'd normally be spending on rent/mortgage.

own 3, rent two out and you're making an extra $500-600/month profit.

own 4, and you're profiting about $45k/year just for being in debt on your mortgages.

and so on and so on.

looks good on paper

[calfzilla]

looks good on paper

X2. Halo surprising me in this thread, lots of good financial knowledge.

[POB]

As long as your putting more in a 401k than your payment per month, do what makes u happy

[Novena]

mortgage/expense on a 160k house is around $600/month
rent that fucker out for $1100 all day.
buy two 160k houses (where I am actually, is surprisingly cheap for homes.. 160k for a decent 3br).
rent one for 1100-1200 and you're living for free. that's an extra $15k/year you have in the bank you'd normally be spending on rent/mortgage.
own 3, rent two out and you're making an extra $500-600/month profit.
own 4, and you're profiting about $45k/year just for being in debt on your mortgages.
and so on and so on.

Make an allowance for one of your "units" to be idle.  Either from vacancy or having a tenant who suddenly can't pay.  It will happen.

[anabolichalo]

X2. Halo surprising me in this thread, lots of good financial knowledge.

hehe... thanks

i don't understand much about money tho only the basics i learnt from the village elders

-earn as much as possible
-spend as little as possible within reasonable quality of life
-buy a decent house instead of renting
-buy a car you can easily afford, financing a car is bullshit, if not needed or affordable use bicycle or public transportation
-don't let a woman get half your things by traditional marriage

that's all i know, the markets, stocks etc remain a mystery to me

[Henda]

hehe... thanks

i don't understand much about money tho only the basics i learnt from the village elders

-earn as much as possible
-spend as little as possible within reasonable quality of life
-buy a decent house instead of renting
-buy a car you can easily afford, financing a car is bullshit, if not needed or affordable use bicycle or public transportation
-don't let a woman get half your things by traditional marriage

that's all i know, the markets, stocks etc remain a mystery to me

good solid basics.

Add dont ever buy a house with a woman, made that mistake and now we split have to jump through hoops to get my half back

[anabolichalo]

good solid basics.

Add dont ever buy a house with a woman, made that mistake and now we split have to jump through hoops to get my half back

i was very much aware of this thank god

[calfzilla]

Buying a house with a woman you are not married to is the definition of stupid.

[Mr Nobody]

Too much iron has taken him down.

[LurkerNoMore]

Any stupid twat that throws dead money on RENT to be 'flexible' is a prick.

I put every spare coin into paying off the house, and then I will be relatively free of slavery when in 10-12 years it's paid off.

Plus my children have a head start in life when I drop dead aged 90 on top of my 21-year old girlfriend.

Thank you.  Of course some idiot will come along and tell you that you don't know what you are talking about.  LOLOLOLOL

[jwb]

All depends on the price to rent ratio in your area.

If houses are 160k and can be rented for 1100 per month then the price to rent ratio is 12 and it is worth buying.

Rents are a true measure of wealth in your area not prices. In a credit bubble people are given more money than they can ever repay.

[pedro01]

Finance companies don't give leases out as a charity, so yes - of course leasing is more expensive.

I imagine whoever is giving financial advice to the Rock is getting a small percentage from the leasing companies.

Just another celeb who has more money than sense.

[pluck]

Again to the simpletons who are bashing leasing

You're either poor or have no financial sense over the level of high school checkbook balancing type shit.

There are people who own businesses that write off leases on taxes & people who make a lot of Money & losing a couple bucks isn't a big deal because to them flexibility is worth more value than ownership.

If you keep a car 5, 6, 7 + years then leasing is not for you.
If you like new toys every 2 years then leasing makes most sense.

[TommyBoy]

If you keep a car 5, 6, 7 + years then leasing is not for you.
If you like new toys every 2 years then leasing makes most sense.

This whole thread can be summed up here pretty much.

But hell, even if you move a lot, I still think buying is the way to go. Just buy smart and rent that thing. Buddy of mine has moved 3 times in the last 5 years. Bought three houses. Just rents two for now. Going to move again. Guess what? He is going to buy another house and end up renting three. I have no intention of moving, and I still own multiple homes in my area. Having other people pay your mortgage is pretty cool.

[pluck]

This whole thread can be summed up here pretty much.

But hell, even if you move a lot, I still think buying is the way to go. Just buy smart and rent that thing. Buddy of mine has moved 3 times in the last 5 years. Bought three houses. Just rents two for now. Going to move again. Guess what? He is going to buy another house and end up renting three. I have no intention of moving, and I still own multiple homes in my area. Having other people pay your mortgage is pretty cool.

Big percentage of people are horrible with money & accumulate too much debt to be like your buddy. Many people have no clue about using debt to work for you or that there comes a point if you make enough money, convenience starts becoming a commodity. That's why people with money tend to pay extra to have shit ASAP

[james87]

Meh, so many things to consider in a lease vs buy decision. To make a blanket statement that one is better then the other is stupid. For those who say one over the other, look up "net advantage of Leasing" or "NAL".

[ESFitness]

Big percentage of people are horrible with money & accumulate too much debt to be like your buddy. Many people have no clue about using debt to work for you or that there comes a point if you make enough money, convenience starts becoming a commodity. That's why people with money tend to pay extra to have shit ASAP

this x2

[El Diablo Blanco]

lol at you guys questioning the positives of leasing when almost every rich fucker out there leases.  There has to be some secret to it.

[JediTerminator]

lol at you guys questioning the positives of leasing when almost every rich fucker out there leases.  There has to be some secret to it.

living beyond their means?

[El Diablo Blanco]

mortgage/expense on a 160k house is around $600/month

rent that fucker out for $1100 all day.

buy two 160k houses (where I am actually, is surprisingly cheap for homes.. 160k for a decent 3br).

rent one for 1100-1200 and you're living for free. that's an extra $15k/year you have in the bank you'd normally be spending on rent/mortgage.

own 3, rent two out and you're making an extra $500-600/month profit.

own 4, and you're profiting about $45k/year just for being in debt on your mortgages.

and so on and so on.

Such bullshit.  If someone can pay $1100 a month to rent when they can just own for $600 a month, what do you think they'll do?

[El Diablo Blanco]

living beyond their means?

Not at all.  Look at 99% of these rich types who drive bentleys, ferraris, etc... and they are all leasing.