Your primary residence is not an investment.Only thing you need to know is a modular home is a depreciating asset not and investment. Don't get sucked in by the price.
Your primary residence is not an investment.Only thing you need to know is a modular home is a depreciating asset not and investment. Don't get sucked in by the price.
you must watch a lot of dave ramseyYour primary residence is not an investment.
In that case everyone should buy a ****ing trailerYour primary residence is not an investment.
you must watch a lot of dave ramsey
Absolutely. And wait for the tornado.In that case everyone should buy a ****ing trailer
I don't think so. Here's what Dave says on his site:
Home Ownership
Simply buying a house means you’re investing in real estate on some level. But there’s a difference between owning your own home and investing in other real estate property. When you own your home, you won’t actively make money or increase your monthly cash flow off of the property.
The fact is, paying off your home is one of the best long-term investments you can make. It’s so important that I recommend you do that before investing in any other type of real estate. Owning your home outright is a huge part of achieving financial peace. As long as you can continue to pay the taxes and insurance on your property, you don’t have to worry about ever losing your home. Eliminating that risk not only gives you peace of mind regardless of the ups and downs of the real estate market, but it also frees up your budget to start saving for other types of investments.
Owning your home outright allows you to have many more financial options—now and down the road.
I don't but I realize that if I sell my primary residence I still need a residence in the same inflated market. Hey, great, my $300k house is now worth a million....well so is your neighbor and unless you're willing to either rent until the next crash or significantly downgrade your primary living situation you're not really seeing cash flow. That's not to say it can't be but the fact that you still need a place to live kills most people's argument that it's a financial investment for them. It's an investment in your future for sure but it's not a financial investment that's generating cash flow unless you either play the market or have a secondary generating cash flow which, let's face it, 99.9% of the people saying it's a financial investment aren't doing. But hey, let's repeat the same arguments from 2007.you must watch a lot of dave ramsey
Like a lot of things in life, it depends. It depends on where you live for one thing. Where I live in CA it's a fantastic investment- provided you either time the market right or hold it for ten years or so. Additionally, if you have a rental unit on the property like I do, there's room for cash flow improvement over time.
I've made about 200% on my $86k down payment over the past 2.5 years, in terms of equity/home value. It's nice to hit a home run on the biggest investment of my life.
jesus if you use your down payment as the gauge I have made 1000% from mine LOLLike a lot of things in life, it depends. It depends on where you live for one thing. Where I live in CA it's a fantastic investment- provided you either time the market right or hold it for ten years or so. Additionally, if you have a rental unit on the property like I do, there's room for cash flow improvement over time.
I've made about 200% on my $86k down payment over the past 2.5 years, in terms of equity/home value. It's nice to hit a home run on the biggest investment of my life.
jesus if you use your down payment as the gauge I have made 1000% from mine LOL
well first I count my ROI based on the price of the house when I bought it vs the value of the house today. I bought it for 160k today it is valued at 280+. now sure what the + is because I have solar panels and places that value the house like zillow don't factor that is even if you add it to their info. I bought it in 2001.What else would you use as a gauge? Good work on the equity. How many years did it take?
well first I count my ROI based on the price of the house when I bought it vs the value of the house today. I bought it for 160k today it is valued at 280+. now sure what the + is because I have solar panels and places that value the house like zillow don't factor that is even if you add it to their info. I bought it in 2001.
if you go buy down payment. I put $300.00 cash into this house when I bought it new in 2001. so technically if you use todays price it is roughly 1000% in 16 years.
best thing is it is now paid off just in time for me to get ready to retire so I won't have a house payment
LOL never claimed to get gooder at math .... (was 350.00 on reflection)OK, fair enough. I've never heard of anyone buying a house with less than 3% down let alone three hundred down. That's great to not have a house payment in retirement. My strategy is to invest as much as I an in other ways and only pay my minimum payment each month on the house ($4400/mo).
I think your math is wrong though. If you take 300 bucks and say 1000% increase that is what 3300? I think you're more like 40,000% return on your down payment lol.
yah I really fell into the deal. and glad I did.That's awesome!
You only have a return on investment if you have $120k in your pocket right now or if you have that after moving to a comparable house. The only investment you're getting a return on is a place to retirewell first I count my ROI based on the price of the house when I bought it vs the value of the house today. I bought it for 160k today it is valued at 280+