Who will be better at getting America out of debt, Trump or Hillary?

[see4]

The home, the area.

How much do you owe on your primary residence out of curiosity?

My current primary residence I own about $200,000. I currently have a primary residence and I live in and own another home, and have a 3rd investment property. The primary residence I do not live in is less than $100,000.

 

[twostrokenut]

My current primary residence I own about $200,000. I currently have a primary residence and I live in and own another home, and have a 3rd investment property. The primary residence I do not live in is less than $100,000.

Own is such a subjective term these days. The two primaries and the investment, paid in full?

 

[see4]

Own is such a subjective term these days. The two primaries and the investment, paid in full?

yep so true. one primary 100k, the other 200k, investment paid.

 

[see4]

market value on each is roughly 365k, 280k, and 409k respectively. nearly a million in real estate with about 300k as debt

 

[twostrokenut]

yep so true. one primary 100k, the other 200k, investment paid.

You sound like a very wise wealthy man. I thank you for sharing and your honesty. My primary 200k is paid as well, although I am not wealthy by any means.

 

[twostrokenut]

market value on each is roughly 365k, 280k, and 409k respectively. nearly a million in real estate with about 300k as debt

What's the debt, the two primaries?

 

[UncleBuck]

You sound like a very wise wealthy man. I thank you for sharing and your honesty. My primary 200k is paid as well, although I am not wealthy by any means.

seriously though, why don't you want to talk details about the penny scam? or the wisdom of buying a trailer home instead of an actual home that will appreciate in value over time?

 

[see4]

You sound like a very wise wealthy man. I thank you for sharing and your honesty. My primary 200k is paid as well, although I am not wealthy by any means.

I appreciate the complement. However I'm not wealthy, as least I don't think so. I'm just trying to set myself up for an easy retirement. I actually have very little in stocks and bonds. I've been told to diversify, but I don't agree.

I've made some poor investment decisions in the past, and I try to play it conservative these days.

 

[see4]

What's the debt, the two primaries?

Yea, I have two mortgages, totally roughly 300k. That's the debt against my 1.1m in real estate. So effectively I've only got $700,000 in actual worth. Minus my $28,000 in CC debt and $80,000 in car loans. lol. So really like $600k. I'm getting poorer as we speak.

 

[twostrokenut]

seriously though, why don't you want to talk details about the penny scam? or the wisdom of buying a trailer home instead of an actual home that will appreciate in value over time?

I have a roll of wheats that can sell for above 50 cents. I have a roll of 95% with no numismatic value that will sell for more than face as well.

Ask your wife if that's a scam.

I also have about 6k pounds of copper and a crucible should I need to make metal jackets or make a new dollar or what not. Ya know, in case something happens where the legality of it really doesn't matter anymore.

Any more brain busters?

 

[twostrokenut]

Yea, I have two mortgages, totally roughly 300k. That's the debt against my 1.1m in real estate. So effectively I've only got $700,000 in actual worth. Minus my $28,000 in CC debt and $80,000 in car loans. lol. So really like $600k. I'm getting poorer as we speak.

So you have a rental you could occupy at any time that pays the notes on the other two? Is this happenstance that the investment is paid or something you count as just good practice as a "fail safe" of sorts?

 

[UncleBuck]

I have a roll of wheats that can sell for above 50 cents. I have a roll of 95% with no numismatic value that will sell for more than face as well.

Ask your wife if that's a scam.

I also have about 6k pounds of copper and a crucible should I need to make metal jackets or make a new dollar or what not. Ya know, in case something happens where the legality of it really doesn't matter anymore.

Any more brain busters?

i was clear that she wanted to know how many pennies you are buying at a time, if you are melting them, and if you are aware that the bank is definitely reporting you to the feds.

 

[see4]

So you have a rental you could occupy at any time that pays the notes on the other two? Is this happenstance that the investment is paid or something you count as just good practice as a "fail safe" of sorts?

Well since I currently work for myself, the money I receive every month from 2 of my homes is considered income according to the IRS. But as you say in happenstance, I used that income to pay my current primary residence mortgage. And I use some money as passthrough for some one business. I write off both mortgage interests to reduce effective tax rates, among many other things. The investment property is paid in full. I hold a deed to the home in my bank.

 

[twostrokenut]

i was clear that she wanted to know how many pennies you are buying at a time, if you are melting them, and if you are aware that the bank is definitely reporting you to the feds.

Ya the same bank that allows me restrictive endorsement and where the vault teller is very pleasant to the extent of ordering extras for me, sure thing. Its not a crime to restrictively endorse an instrument, its clearly outlined for you in the UCC. It's likewise not a crime to purchase coins at face value. Maybe you should politely ask your wife not to sound so ignorant.

 

[twostrokenut]

Well since I currently work for myself, the money I receive every month from 2 of my homes is considered income according to the IRS. But as you say in happenstance, I used that income to pay my current primary residence mortgage. And I use some money as passthrough for some one business. I write off both mortgage interests to reduce effective tax rates, among many other things. The investment property is paid in full. I hold a deed to the home in my bank.

Is paying off the investment something you did with purpose for the intent of it to be free and clear? Even if that investment is or is not what facilitated the others.

 

[UncleBuck]

Maybe you should politely ask your wife not to sound so ignorant.

she's not the one living in a trailer and running penny scams ya know.

 

[twostrokenut]

she's not the one living in a trailer and running penny scams ya know.

No, she lives in a nice home, no denying that. No hope of living off the land or subdividing but hey, that doesn't really seem to be ya'lls schtick.

 

[schuylaar]

You brag about not paying any taxes at all while collecting every benefit you can lie your way into. And all this while refusing to work for "the man". Frankly, you are without any moral character at all.
Taxing the wealthy at 100% won't pay off the national debt as it's publically aknowledged, let alone the real number of $227 trillion when unfounded obligations are included.

<yawn> Citations? Even @UncleBuck updates his material occasionally and so should you.

 

[DavidKratos92]

Ya the same bank that allows me restrictive endorsement and where the vault teller is very pleasant to the extent of ordering extras for me, sure thing. Its not a crime to restrictively endorse an instrument, its clearly outlined for you in the UCC. It's likewise not a crime to purchase coins at face value. Maybe you should politely ask your wife not to sound so ignorant.

real talk

 

[see4]

Is paying off the investment something you did with purpose for the intent of it to be free and clear? Even if that investment is or is not what facilitated the others.

I paid off the home in full because I had the money and that was my goal. Real estate is my retirement goal. Residual income rather is the goal.

People will always need a place to live, and I will always be able to provide a rental property. The one property thats free and clear gives me $1650 a month in rental income. The other home gets me $1700, but I have a mortgage of $1100, so I net $600 from that. The two properties pay my mortgage for my third property, and then some.

It's all about the residuals baby.