^^^NYC is ridiculous its why they aren't number one or two with millionaires. Their really isn't much room for money opportunity as here. But really what you do with real estate is buy low and rent it out so it can pay off your monthly mortgage and then once is all paid off you live off that money and I know that sounds like a bad idea but the point is too buy the home while its cheap and in a neighborhood that has the potential to grow and developd. Basically you don't want to take a huge loan out cuz then for the next thirty yrs you going to be paying a lot of money to the bank like three times what you take out. But ANYTHING beats leaving your money in the bank because you not only lose money a year but the bank will make money off your money and thats no good. And wait WHAT?! Buying property in Austrailia is as a bad idea as investing in Somalia. While I have nothing against the Aussies I just do not like what I see thier. IF you want to property thats like close to the beach and it beautiful and the living expenses low then try latin america. Their is still a lot of property growth their. Like Puerto Vallarta has reached the point where coastal property costs around 400 000 for a condominuim. While that is not worth buying it is worth taking note of the next PV.

What are you kidding me do you even know what you're talking about lol?

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My SpaceMySpaceMUSIC
Anti-Purple Alliance.

Yes their isn't a lot of millionaires in NYC as in cook county or LA county or ORange county. I think its a fact. Besides I do know some of what I Am talking I own two properties so far.

Or am I doing it all wrong Lepanto?

Maybe because NYC isn't a suburb . btw, you're also comparing LA county to a city, how does that make sense?. and yes there are alot. there actors, directors, musicians, producers, hello it's the city it's both artistic and sophisticated and you've obviously never been here lol. and the whether it has "millionaires" or not has much to do with the fact that you cannot buy a nice place in the city for under a mil nor is there a millionaires mile here...

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My SpaceMySpaceMUSIC
Anti-Purple Alliance.

See hear it shows again that people in the NYC area are a bunch of asses. Look NYC boy you can't get shit for a mil in NYC no I haven't been there nor would I want to invest money there because there is too many people and the property and space is not enough to make good investments. Maybe in the short run it will be good but give it twenty years and NYC will be in trouble anad the reason I am ranting is just to make myself seem dumber than I actually am ...anyways it doesn't matter I am earning serious cash for a twenty year old.



SO BEAT THAT LEPANTO BEAT THAT!!!!!

quote:

Originally posted by metalgearsolid Buying property in Austrailia is as a bad idea as investing in Somalia. While I have nothing against the Aussies I just do not like what I see thier. IF you want to property thats like close to the beach and it beautiful and the living expenses low then try latin america.

um, what exactly do you base that on? australia just had a massive real estate boom, and lots of people (like my mate) made an absolute killing. like i said, people always need somewhere to live and buying property & getting other people to pay the majority of your mortgage is the way to go imo.

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Sure man sure.

quote:

Originally posted by metalgearsolid Sure man sure.

yet another top-quality contribution by you

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quote:

Originally posted by pkcRAISTLIN yet another top-quality contribution by you

Come again? I was noting of what wise advice you had. Thats real good buy a home then sell it so the buyers can pay your mortgage? Thats real good idea seeing as to how money would you have to sell that home to pay off the mortgage? HMMM do you know? Do you know that taking out a loan from a bank they want like three times of what you took back from you? Did you want me to actually believe what you said was any good? BUYING A HOME REQUIRES TIME JUST AS MUCH AS A MUTUAL FUND AND THE WAY THE MARKET IS FOR HOMES THEIR WILL MOST LIKELY BE A BUST. So why buy a home now when after the bust the homes will cost less. I mean things might be different in Austrialia but hey thats cool I don't believe you could make any real money of the stock market their. Just how high did it close today?

quote:

Originally posted by metalgearsolid See hear it shows again that people in the NYC area are a bunch of asses. Look NYC boy you can't get shit for a mil in NYC no I haven't been there nor would I want to invest money there because there is too many people and the property and space is not enough to make good investments. Maybe in the short run it will be good but give it twenty years and NYC will be in trouble anad the reason I am ranting is just to make myself seem dumber than I actually am ...anyways it doesn't matter I am earning serious cash for a twenty year old. SO BEAT THAT LEPANTO BEAT THAT!!!!!

yeah im sure you can't get shit for a mil. since NYC is one of the most expensive cities in the world...oh wait there are plenty more that beat them to that and no you have NEVER been here since you know nothing about Queens, Brooklyn and specially Staten Island all of which have alooooooooot of millionaire 'hoods.

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My SpaceMySpaceMUSIC
Anti-Purple Alliance.

quote:

Originally posted by metalgearsolid Come again? I was noting of what wise advice you had. Thats real good buy a home then sell it so the buyers can pay your mortgage? Thats real good idea seeing as to how money would you have to sell that home to pay off the mortgage? HMMM do you know? Do you know that taking out a loan from a bank they want like three times of what you took back from you? Did you want me to actually believe what you said was any good? BUYING A HOME REQUIRES TIME JUST AS MUCH AS A MUTUAL FUND AND THE WAY THE MARKET IS FOR HOMES THEIR WILL MOST LIKELY BE A BUST. So why buy a home now when after the bust the homes will cost less.

i will make this as simple as i fvcking can you absolute fvcking moron. you obviously have no idea what youre talking about, and your less than average grammar shows you have little education, so how about you listen to other people that actually have some experience?

you buy house.

you put tenants in.

tenants pay your mortgage (or majority of).

people *always* need somewhere to live.

house prices *always* go up- if you look over a long period of time. there isnt a house in the civilised world that is cheaper today than it was 20 years ago.

yes, there are market crashes, however as long as you can afford to service the loan, it wont matter in the long run.

now, over the time period, be it 10 or 20 years, the principle of your loan goes down, whilst the value of your property goes up. remember that you are putting in little of your own money. and unlike stocks, youre actually buying something that will always be worth something.

there are tons of tax concessions you can use in the property market.

its that simple. if you buy smart & dont over-extend yourself its a really easy way to make retirement more appealing. thus, my friend owes the banks $2M, yet his property is worth $3.5M or so.

now, quit parading your obvious ignorance and perhaps you might learn something. fvcking child

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