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Mortgage

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if you are making 7-10k a month, I think you can spare renting for a little while until you get a couple years older. Also renting an appartment will help your credit rating when applying for a mortgage.

 
haha some of you guys are hilarious. I have been programming since I was a little lad, I borrowed my friends laptop when I was 12 and he ended up giving it to me because his dad was rich and bought him a brand new one. I have been programming since. Hence the half decent money. I took a few business courses at the university and managed to start a business. I have money saved right now, and I can even sell my car if I want to, its worth a good 15k. I am not your typically druggy teenage as most might see me.
 
Originally posted by: jdini76
Also renting an appartment will help your credit rating when applying for a mortgage.
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I've never heard of a landlord reporting to a credit bureau. The only time they might do this is if you do not pay rent and it goes to a collection agency...but not when you pay your rent. If anything, you will have reference that you pay on time...but nothing to do with a credit score.

 
Originally posted by: pr0
haha some of you guys are hilarious. I have been programming since I was a little lad, I borrowed my friends laptop when I was 12 and he ended up giving it to me because his dad was rich and bought him a brand new one. I have been programming since. Hence the half decent money. I took a few business courses at the university and managed to start a business. I have money saved right now, and I can even sell my car if I want to, its worth a good 15k. I am not your typically druggy teenage as most might see me.
Click to expand...

Sadly, the black dude avatar is associated with less than credible posters.

 
Congrats and good job on your business. Unfortunately I have no idea about mortgage laws in Canada. But I do love Prince Edward Island 😉
 
Originally posted by: casper114
Your 18!!!?????? and making that much money huh.... Well if you're not lying then you just havn't searched for the right mortgage company. Do you have credit? Obviously not because that's what it depends on, not your age. You should give your mom the money and buy her a house, live in it, and then when you establish some credit buy your own. You should take care of your family first and formost anyway because you wouldn't be here today if your mama didn't bring you in this world and it doesn't seem to me that they are doing that great.
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As nice as that sounds, it is probably unwise to do that. My dad still thinks he is king around here so even if I added the money for the down payment for the family house he would still think he is the boss. He would kick me out of the house if I pissed him off. He could careless. By the way, he does nothing but brag about his education when he doesn't even work... Parents always fight as well, I hardly ever spend time at home because I study for school and all the yelling and junk just doesn't appeal to me.

My credit rating is average according to equifax. Its a 619 rating which is actually good considering my age. I have like 4 credit cards that were maxed out but paid off with no late payments. No collection records as well, overall its decent. I'll see the broker soon and hopefully update you guys. I know it seems like a major step but I need my freedom, school and my future is important, the earlier I start the better.
 
I know in the USA, there are "rent to own" and/or "lease to own" options for like Condos & Apartments. I don't know too much about it, but I've heard it is a bit more costly then outright getting a morgage and purchasing a home in the traditional method. I've also heard it can be a good way for someone without established credit to become a home owner.

Google gave me this link, perhaps it could be helpfull to you.
About.com info
I don't know if "rent to own" is an option in Canada, and it's probably not the "best" option for most people, but you seem like you may be in that small percentage of people that would really benefit from it.
 
I think your story sucks...

If you are so successful in business and so smart and have the world by the ass - you should be able to figure this one out...
 
Originally posted by: AdamSnow
I think your story sucks...

If you are so successful in business and so smart and have the world by the ass - you should be able to figure this one out...
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Very good point.
 
Originally posted by: AdamSnow
I think your story sucks...

If you are so successful in business and so smart and have the world by the ass - you should be able to figure this one out...
Click to expand...

Oh I am sorry for wasting your valuable time. I am not perfect at everything, I succeed at certain things, and I am not some banker guy on the side to know how mortgages work. Its hard to be taken seriously just because of my age, you being one of those people.
 
Originally posted by: CTrain
This is an easy one.
Move out....save money until you're 21...then buy a house.
If you make as much money as you say you do, you'll have no problem buying a house when you're 21.
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He'd be wasting a lot of money on three years rent and three years of lost equity.
 
Originally posted by: venk
Originally posted by: CTrain
This is an easy one.
Move out....save money until you're 21...then buy a house.
If you make as much money as you say you do, you'll have no problem buying a house when you're 21.
Click to expand...



He'd be wasting a lot of money on three years rent and three years of lost equity.
Click to expand...

^5
 
Originally posted by: pr0
haha some of you guys are hilarious. I have been programming since I was a little lad, I borrowed my friends laptop when I was 12 and he ended up giving it to me because his dad was rich and bought him a brand new one. I have been programming since. Hence the half decent money. I took a few business courses at the university and managed to start a business. I have money saved right now, and I can even sell my car if I want to, its worth a good 15k. I am not your typically druggy teenage as most might see me.
Click to expand...


Okay, first off, 50-120 grand a year is more than "half-decent" money, second, I find it INCREDIBLY hard to believe that you'd make anywhere near that amount of money from programming, let alone in Calgary (not exactly tech central) Especially given the fact that you only have 6 "questionable" years of experience. In that age range, 12-18 I wouldn't consider any of it valuable programming experience to be pulling in 7k a month.

In all honesty unless you've got some kind of proof this is the most outlandish thing I've ever heard.

--Mark
 
Originally posted by: SaturnX
Originally posted by: pr0
haha some of you guys are hilarious. I have been programming since I was a little lad, I borrowed my friends laptop when I was 12 and he ended up giving it to me because his dad was rich and bought him a brand new one. I have been programming since. Hence the half decent money. I took a few business courses at the university and managed to start a business. I have money saved right now, and I can even sell my car if I want to, its worth a good 15k. I am not your typically druggy teenage as most might see me.
Click to expand...


Okay, first off, 50-120 grand a year is more than "half-decent" money, second, I find it INCREDIBLY hard to believe that you'd make anywhere near that amount of money from programming, let alone in Calgary (not exactly tech central) Especially given the fact that you only have 6 "questionable" years of experience. In that age range, 12-18 I wouldn't consider any of it valuable programming experience to be pulling in 7k a month.

In all honesty unless you've got some kind of proof this is the most outlandish thing I've ever heard.

--Mark
Click to expand...

Let me break it down for you. Obviously its not just a "simple" business, everything takes time to start up and must be fail proof. It took me a year to get everything together. This is what my business consists of.

eBay: 300-500/month
Web designing: 1000-2000/month
Web hosting: 200/month
Computer repair/fixing: 1000/month
Nomal job: 2000/month
Software sales: 300/month
Web site resale profits: 1000/month
Advertising profits: 40/month
 
Originally posted by: pr0
Originally posted by: SaturnX
Originally posted by: pr0
haha some of you guys are hilarious. I have been programming since I was a little lad, I borrowed my friends laptop when I was 12 and he ended up giving it to me because his dad was rich and bought him a brand new one. I have been programming since. Hence the half decent money. I took a few business courses at the university and managed to start a business. I have money saved right now, and I can even sell my car if I want to, its worth a good 15k. I am not your typically druggy teenage as most might see me.
Click to expand...


Okay, first off, 50-120 grand a year is more than "half-decent" money, second, I find it INCREDIBLY hard to believe that you'd make anywhere near that amount of money from programming, let alone in Calgary (not exactly tech central) Especially given the fact that you only have 6 "questionable" years of experience. In that age range, 12-18 I wouldn't consider any of it valuable programming experience to be pulling in 7k a month.

In all honesty unless you've got some kind of proof this is the most outlandish thing I've ever heard.

--Mark
Click to expand...

Let me break it down for you. Obviously its not just a "simple" business, everything takes time to start up and must be fail proof. It took me a year to get everything together. This is what my business consists of.

eBay: 300-500/month
Web designing: 1000-2000/month
Web hosting: 200/month
Computer repair/fixing: 1000/month
Nomal job: 2000/month
Software sales: 300/month
Web site resale profits: 1000/month
Advertising profits: 40/month
Click to expand...

How the hell do you have the time to do all that and go to school ?? And sleep on the sofa ??
 
Originally posted by: Locke
Originally posted by: venk
Originally posted by: CTrain
This is an easy one.
Move out....save money until you're 21...then buy a house.
If you make as much money as you say you do, you'll have no problem buying a house when you're 21.
Click to expand...



He'd be wasting a lot of money on three years rent and three years of lost equity.
Click to expand...

^5
Click to expand...


Not always.
If you find a moderately place to rent...~$400, you're really not wasting money.
Oppose to if he gets a loan for $300K, he'll pay over $1300 in just interest.


 
Well computer repairing and related stuff doesn't take any longer than a couple of hours. I have been into comps since I was like 12 so I know them from top to bottom. The web design, I spend 2 hours daily as well. The rest all just comes in, advertising from my homepage earns me a whooping 40-50 a month from doing nothing. The rest are just sales, from applications I have made, and my reselling business.
 
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