Which cards to eliminate/lower limit to improve my score? (long-term goal: mortgage)

[Texashiker]

So back to my previous question.. how much do you think you can build each house on this land for?

I am not building a house, I plan on having an older home moved to the location.

 

[Train]

I am not building a house, I plan on having an older home moved to the location.

oh this should be funny.

So you'll be out at least $20k just to get up and running with a single small house. Have a tax liability, and then how much do you think you will be making in rent?

Throw in all the "fixes", assuming you even do them yourself, and you'll be in a $50k hole in no time. Do you have that much cash stuffed under your mattress?

 

[Train]

oh did I mention you'll also have to pay through the nose to get utilities hooked up at this new location?

If you hate the man you'll really hate gettin butt raped by govt inspectors and utility companies for at least 6 months after you buy the land. That's at least one tax payment on the land, several thousand in permits, and several thousand more in digging, pipe laying, wire running. And so far you haven't collected a cent in rent.

If it takes you 18 months to save up just for the land, you'll need another 5 years to really prepare yourself to do all of this in cash. And because of inflation, the money you save is actually decreasing in value. And during this same time the value of the land is increasing at a faster rate than your cash is decreasing. And during all of this time you are missing out on the rent you could have been making.

 

[Texashiker]

oh this should be funny.

So you'll be out at least $20k just to get up and running with a single small house. Have a tax liability, and then how much do you think you will be making in rent?

Throw in all the "fixes", assuming you even do them yourself, and you'll be in a $50k hole in no time. Do you have that much cash stuffed under your mattress?

Why so negative? Haven't you ever had a dream? A dream to do something besides watching sunday football and throwing back some beers?

Life should be something besides watching the stockmarket and hoping your stock choices don't collapse.

There is no right path in life. All you can do is make the best choices you can and hope for the best. How many people lost fortunes in the .dot bubble? How many people lost fortunes in the real estate bubble?

Just when you think things are going your way, the rug gets pulled out from under you.

My outlook on life, do not let anyone touch your rug. Do not give anyone the chance to say "gotcha", and run off with your life savings like what happened with enron.

 

[Train]

Why so negative? Haven't you ever had a dream? A dream to do something besides watching sunday football and throwing back some beers?

Life should be something besides watching the stockmarket and hoping your stock choices don't collapse.

There is no right path in life. All you can do is make the best choices you can and hope for the best. How many people lost fortunes in the .dot bubble? How many people lost fortunes in the real estate bubble?

Just when you think things are going your way, the rug gets pulled out from under you.

My outlook on life, do not let anyone touch your rug. Do not give anyone the chance to say "gotcha", and run off with your life savings like what happened with enron.

If you want to stay away from stocks, go right ahead. But you still have no good reason to not even have a checking or savings account.

What if your area gets built up and your property tax increases by its maximum value each year? Wouldn't the renters also be on your rug? What are you going to do when they don't pay and have squatters rights? Then disapear with all the copper from your house?

The problem is your dream runs contradictory to your own little gems of wisdom.

 

[Fausto]

If you want to stay away from stocks, go right ahead. But you still have no good reason to not even have a checking or savings account.

What if your area gets built up and your property tax increases by its maximum value each year? Wouldn't the renters also be on your rug? What are you going to do when they don't pay and have squatters rights? Then disapear with all the copper from your house?

The problem is your dream runs contradictory to your own litle gems of wisdom.

Not to mention he's never going to be able to retire. At the very least, he's going to be a property manager for the rest of his life. Fuck that noise.

 

[GotIssues]

You got it.

That is absoluty correct.

Oh, so you are a hypocrit and greedy by your own definition. Good to know.

 

[Schfifty Five]

Oh, so you are a hypocrit and greedy by your own definition. Good to know.

I've come to the conclusion that Texashiker is just some troll who purposely spews his garbage in order to get a rise out of people on the internet for the lulz.

Look here: http://forums.anandtech.com/showthread.php?t=2185949

Apparently he has a savings account and uses a debit card with it but I'm not familiar with any debit cards that link directly to your savings account.

 

[Train]

I've come to the conclusion that Texashiker is just some troll who purposely spews his garbage in order to get a rise out of people on the internet for the lulz.

Look here: http://forums.anandtech.com/showthread.php?t=2185949

Apparently he has a savings account and uses a debit card with it but I'm not familiar with any debit cards that link directly to your savings account.

according to that thread he has a Credit Union account with a debit card, and possibly a savings account. He also admits to have carried a loan on a used car.