What percentage of your after tax money do you spend on your house note or rent?

[C.P.]

Free and clear.

+1

If I went by income on the RX, it would be MINUS 90%

hahaha

 

[seldomseen]

Base pay about 15%.
Total compensation maybe 6 or 7%.

 

[dirtymoose]

I wrote a number down, but I have to re check the math

 

[loomis41973]

No debt here

ANyone who doesn't hold a note or a line or credit on a property is a fool.

 

[wilbur]

ANyone who doesn't hold a note or a line or credit on a property is a fool.

I owe NO money, I'm debt free.
Why pay interest when you don't have too?

 

[tanner12oz]

About 25%

 

[loomis41973]

I owe NO money, I'm debt free.
Why pay interest when you don't have too?

Mostly because if you almost ZERO knowledge you can make more money than you are paying in interest at these low ass rates.

 

[Willie99]

Damn dude you either make a shit load of money or live in a shit house. LoL

I earn a very decent living, and I love my job so it's a win win.

My house is not the 3,500 square foot home everybody wants nowadays, but it's larger than most and in a great neighborhood and has everything and we bought it 30 years ago. Paid in full in six months or less

The last time we took any equity out was 20 years ago, we paid for everything as we went along.

So we have a fixed outflow and an ever increasing inflow, those ratios turn for the better real fast.

20 years ago, the percentage would have been 35 to 40%

 

[wilbur]

Mostly because if you almost ZERO knowledge you can make more money than you are paying in interest at these low ass rates.

We have two rental houses and we also rent out our pasture for cattle to graze and the crop ground is also rented.
Don't keep all the money under the mattress(bank), just some of it.

 

[SgtLanquel]

From 2011-2014 approx 15%

This year currently only about 9% and that's after moving into a much nicer home for approx $200 more per month

 

[Willie99]

didn't notice after taxes (qualifying ratios are based on gross so I went off on a tangent)

after taxes would be around 1%

brain fart, I was dividing monthly payment by annual net

12% is the number, and that includes real estate taxes which are escrowed, and that gets cut in half when the mortgage is paid in a few months

 

[halekulani]

about 57%

that being said, i work like 80 hr weeks now so i dont spend much of my money anyways.

 

[festeringZit]

ANyone who doesn't hold a note or a line or credit on a property is a fool.

This is an ignorant statement.

 

[loomis41973]

This is an ignorant statement.

Not really and i own four homes. Paying 3-3.5 rate and making more than double that.

No fucking brainer in more ways than one

 

[wilbur]

Not really and i own four homes. Paying 3-3.5 rate and making more than double that.

No fucking brainer in more ways than one

I don't pay interest, haven't in 15 years

 

[wilbur]

This is an ignorant statement.

Loomis is wrong on this one

 

[loomis41973]

Not even close to wrong...sorry you don't understand.

Even Warren Buffet has a mortgage.

Liquidity has made me 100"s of thousands over the past few years. I could own every house outright and pay higher property taxes/lose my mortgage exemption/have less money to invest on great up and coming ideas, but i actually know how finance works.


Hell i even took Lumber Liquidators interest free for 24 months on one of my rental properties...only 17,000 but i made money by using theirs for free.

 

[MikeB]

From 2011-2014 approx 15%

This year currently only about 9% and that's after moving into a much nicer home for approx $200 more per month

The landscaping business must be good nowadays.

 

[loomis41973]

I don't pay interest, haven't in 15 years

15 years ago was a different time but to not take out a heloc in the past 5-7 years at these low rates for investment purposes is very stupid....almost criminally so.

 

[wilbur]

15 years ago was a different time but to not take out a heloc in the past 5-7 years at these low rates for investment purposes is very stupid....almost criminally so.

My god you are worse than my wife!!!
I don't need to pay interest because i'm done buying property for investments, and if I do buy, I won't borrow.