Does he have any equity in the current house? He should sell and go rent for

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Apr 25, 2024
9:33:20am

Iman23 Truly Addicted User

Does he have any equity in the current house? He should sell and go rent for

Awhile and live off the equity.

15 yrs ago I sold a house that had appreciated quite a bit and when I cashed out and rented, it was the best feeling in the world, knowing I could survive for a long period of time if things went south.

I also liked the flexibility and not having to maintain the house for once.

I now own a 1960s house and it’s always one thing after the other…

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Iman23

Bio page: Iman23
Joined: Jan 18, 2008
Last login: May 4, 2024
Total posts: 42,601 (2,721 FO)

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Messages

Author

Time

Hopefully things like this are rare but I am not so sure

rad dawg

Apr 25, 8:56am

Geez. From $300k/year to that?

TNT

Apr 25, 8:58am

What was he doing that he made that much?

TNT

Apr 25, 8:59am

He is a medical professional.

rad dawg

Apr 25, 9:01am

Just like a GP or something?

TNT

Apr 25, 9:05am

Something like that.

rad dawg

Apr 25, 9:10am

Money makes people stupid. It sucks. But it's reality.

brj8

Apr 25, 8:58am

I like the quote that I think Warren Buffet said “money usually ends up

cougfanz

Apr 25, 9:00am

I don't buy that quote. There are a lot of good, hardworking people with low pay

The Dark Knight

Apr 25, 10:00am

Money was never intended to be a reward for service and altruism.

shoganai

Apr 25, 10:03am

My slight correction: Money magnifies who you really are.

Apr 25, 9:25am

Money makes stupid people more stupid.

SFarkus

Apr 25, 9:33am

I think foreclosing is more humbling than a 90 day contract.

HingleMcCringleberry

Apr 25, 9:00am

Don't think that is uncommon

Apr 25, 9:01am

Yep. I've had multiple really good friends have to sell from under them because

Adwight

Apr 25, 9:05am

We all say that things will catch up to people, but is that really true?

kccougar

Apr 25, 9:09am

It seems like they usually find another gravy train. Some people are very good

Acorn

Apr 25, 9:14am

Even when they lose it all they find a way to come back

Apr 25, 9:43am

It's really hard to focus on your words with that succulent beef making me drool

AF_Puma

Apr 25, 9:01am

Meat is Murder

TNT

Apr 25, 9:04am

Tasty, tasty murder.

sethj250

Apr 25, 9:06am

Great album. The Headmaster Ritual is such a great opening song.

pink22

Apr 25, 9:08am

Never heard the album. But now he wants another Western Bacon Cheeseburger

TNT

Apr 25, 9:08am

Listen to the album and eat your Western during the last song. Would be funny.

pink22

Apr 25, 9:09am

Well he has to get the burger first. So hungry.....

TNT

Apr 25, 9:10am

Murder is also murder

Jimo Dashen

Apr 25, 9:09am

You know that's right

The Dark Knight

Apr 25, 10:01am

RE: Murder is also murder

sethj250

Apr 25, 10:04am

It's actually pretty common for people that earn 200-400k a year to be in the situation where they

CSoul

Apr 25, 9:03am

Sounds like a lot of professors in academia

TNT

Apr 25, 9:04am

People that make $200 - $500K are considered middle managers? Man I’m in the

southbaycoug

Apr 25, 9:13am

Depends on industry and location. More 200-300 than the upper end. But I've seen that in FANGs and sales a lot

CSoul

Apr 25, 9:19am

I can hardly fathom what I’d do w/ $300k the way I live. I’d save so much.

gangbusters

Apr 25, 9:04am

No kidding. But also TNT would purchase all optical discs known to man. Or woman

TNT

Apr 25, 9:06am

And then rip them to his Plex server, right?

paulb

Apr 25, 9:55am

For one, you pay a lot more taxes. Depending on the state, you could pay as

Acorn

Apr 25, 9:08am

Of course. Hadn't thought of that.

gangbusters

Apr 25, 9:13am

Spending typically behaves like a gas - it expands to fill all available volume

Skeptical Optimist

Apr 25, 9:49am

This is true as well.

gangbusters

Apr 25, 9:53am

I think there are probably a lot more people that struggle more than they let on

Sparkling Delirium

Apr 25, 9:05am

Poor people drive insane vehicles. It's crazy

TNT

Apr 25, 9:06am

You should know, right? I imagine you in one of two vehicles.

Sparkling Delirium

Apr 25, 9:08am

He drives something like this

TNT

Apr 25, 9:10am

Nice! A little bit of a souped up Metro. Love it.

Sparkling Delirium

Apr 25, 9:11am

So can you really call it struggling?

kccougar

Apr 25, 9:11am

He probably should have said lower incomes and drive nice vehicles

TNT

Apr 25, 9:12am

So is the guy that earns $50k but drives an $85k truck struggling? Those are pretty nice trucks.

kccougar

Apr 25, 9:18am

You would think. But TNT doesn't understand a lot. Thanks BYU admissions!

TNT

Apr 25, 10:20am

Its really interesting to see how different people are.

rad dawg

Apr 25, 9:17am

This has got to be a reverse, right?

DiamondMo

Apr 25, 9:07am

Have a friend who has consistently been paid 150-200K in various tech jobs. His last position was a WFH one.

Jimo Dashen

Apr 25, 9:09am

I’m surprised he did that well on $300k per year. He should probably bk now

Jay Kay

Apr 25, 9:10am

Probably bought the house 4 or more years ago and it doubled in value since

chismoso

Apr 25, 9:13am

Bought 2 years ago.

rad dawg

Apr 25, 9:24am

Does he have any equity in the current house? He should sell and go rent for

Iman23

Apr 25, 9:33am

He has a ton of equity. Also a ton of pride.

rad dawg

Apr 25, 9:36am

He really should at least consult with a bk lawyer. If can shed all his other

Jay Kay

Apr 25, 9:38am

Oh man.

Zombre

Apr 25, 9:12am

Frankly I have no pity on a guy like that. Everybody's stressed, many people hate their jobs, not everybody earns $300K

byujag

Apr 25, 9:17am

Pendleton?

paulb

Apr 25, 10:23am

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