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Traded My House for a Couple of Hundred Thousand DollarsÖ



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 1 week ago '07        #1
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Blak King  topics gone triple plat - Number 1 spot x5
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Traded My House for a Couple of Hundred Thousand DollarsÖ
 

 
Now I don’t have anywhere to go. I can’t find another house that fit my needs not more than half a million. Rent in the area is as much as a half million house. No way I’m going to go to another house just like I left for more money.

Starting to think this is the worst mistake of my life. Gotta move in with my girl, my son’s mom or my parents.

I’m sick… image

I never had that much bread and was like fxck it. Now I’m homeless with a lot of cash. I’m scared and no one cares. I’m really concerned.

Lost security to touch the White man Bread.

Help, I’m paranoid.


Last edited by Blak King; 07-21-2021 at 08:51 PM..
+93   



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167 comments
 

 1 week ago '19        #2
Newbie2019 
Props total: 2360 2 K  Slaps total: 646 646
Rent a house for a year.
+34   

 1 week ago '07        #3
Blak King  topics gone triple plat - Number 1 spot x5 OP
Props total: 31471 31 K  Slaps total: 7924 7 K
 Newbie2019 said
Rent a house for a year.
You donít think thatís a waste of money? I feel like I might as well by a house with 2k mortgage.
+19   

 1 week ago '17        #4
justin747  topics gone triple plat - Number 1 spot x5
Props total: 167081 167 K  Slaps total: 22203 22 K
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Rent an apartment and travel

+53   

 1 week ago '17        #5
Nwestside 
Props total: 730 730  Slaps total: 27 27
Buy a condo, they're usually cheaper than a single family home.

Use your home sale money for the down payment on the condo.

Pay enough off so you have equity and a small monthly payment (or purchase it outright), then watch as the value of the condo goes up.

You can always hold the condo and wait a couple (2) years then sell it, rent it out or grab another spot and use the rental income to help with your monthly payment on your new home.

Flip, rinse, repeat...
+56   

 1 week ago '21        #6
Keithf87 
Props total: 9210 9 K  Slaps total: 503 503
 Blak King said
Now I donít have anywhere to go. I canít find another house that fit my needs not more than half a million. Rent in the area is as much as a half million house. No way Iím going to go to another house just like I left for more money.

Starting to think this is the worst mistake of my life. Gotta move in with my girl, my sonís mom or my parents.

Iím sickÖ

I never had that much bread and was like fxck it. Now Iím homeless with a lot of cash. Iím scared and no one cares. Iím really concerned.

Lost security to touch the White man Bread.

Help, Iím paranoid.
Damn bro. I was thinking about this same thing. Id make out by selling and then what. Maybe get an RV bro and some land in the cut. I've been going back and forth. I love that I have a home. I know they will be more and more expensive.

Good luck bruv
+10   

 1 week ago '21        #7
Keithf87 
Props total: 9210 9 K  Slaps total: 503 503
 Blak King said
You donít think thatís a waste of money? I feel like I might as well by a house with 2k mortgage.
Definitely a waste. You don't get rent back like mortgage.
+9   

 1 week ago '16        #8
Proveone  topics gone triple plat - Number 1 spot x4
Props total: 72434 72 K  Slaps total: 4526 4 K
Never sell always but when it comes to real estate. God ain't making no more land
+28   

 1 week ago '16        #9
Hoggystyle  topics gone triple plat - Number 1 spot x7
Props total: 75154 75 K  Slaps total: 8419 8 K
You’ll be aight
+22   

 1 week ago '07        #10
stogz 
Props total: 105983 105 K  Slaps total: 13813 13 K
Housing market is screwed up. Corporations are buying mortgages and renting those properties out as a source of income. Regular people are getting pushed out of the home ownership game. Rent is rising and is basically the same as a mortgage with no chance at ownership. It's fuk'd... it's crooked... it's america!


I dunno what the solution is.
+68   

 1 week ago '06        #11
philly337  topics gone triple plat - Number 1 spot x1
Props total: 47831 47 K  Slaps total: 13282 13 K
How much you got after taxes and are you locked in to your job/city?
+2   

 1 week ago '06        #12
dagreat1_87 
Props total: 16929 16 K  Slaps total: 786 786
Was definitely a mistake to sell before securing your next location first, but thats a lesson learned. Me personally, i'd move in with one of those folks you mentioned IF they aint beating your head in on rent or whatever. Saves you money in the long term, and dealing with BS from relatives will motivate you to find your next spot instead of bullsh*tting.

IF you really don't want to move in with someone else, it's probably best to find an apartment somewhere that does short term leases until you find your permanent home.
+28   

 1 week ago '07        #13
Blak King  topics gone triple plat - Number 1 spot x5 OP
Props total: 31471 31 K  Slaps total: 7924 7 K
 philly337 said
How much you got after taxes and are you locked in to your job/city?
Locked in but I’ve been thinking of just moving to Cali. I’m good..

 stogz said
Housing market is screwed up. Corporations are buying mortgages and renting those properties out as a source of income. Regular people are getting pushed out of the home ownership game. Rent is rising and is basically the same as a mortgage with no chance at ownership. It's fuk'd... it's crooked... it's america!


I dunno what the solution is.
I got to get rid of my dog. I jumped at the thought of six digits.


Last edited by Blak King; 07-21-2021 at 08:03 PM..
-5   

 1 week ago '16        #14
Boogersugar  topics gone triple plat - Number 1 spot x13
Props total: 78228 78 K  Slaps total: 10579 10 K
 Blak King said
Now I don’t have anywhere to go. I can’t find another house that fit my needs not more than half a million. Rent in the area is as much as a half million house. No way I’m going to go to another house just like I left for more money.

Starting to think this is the worst mistake of my life. Gotta move in with my girl, my son’s mom or my parents.

I’m sick…

I never had that much bread and was like fxck it. Now I’m homeless with a lot of cash. I’m scared and no one cares. I’m really concerned.

Lost security to touch the White man Bread.

Help, I’m paranoid.
Do you work remote or do you go into the office? I WFH and I have been thinking about selling my house in ATX and buying something cash in the Midwest where I'm from... could net like $100k if I did...

If you're remote you can move to a lower COL area

Anyway why not rent for a while and invest some of that money? Where is it sitting now? First thing you need to do is move it to an account that you don’t have easy access to. You don't want $300k in your checking account so you can talk yourself into buying anything you see that you want... good luck though, I've been super tempted to follow this path.
+7   

 1 week ago '18        #15
TheLuminousOne  topics gone triple plat - Number 1 spot x6
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Gotta plan ahead
+6   

 1 week ago '17        #16
QdobaCasanova 
Props total: 51677 51 K  Slaps total: 11243 11 K
How tf you sell your house and not have a place to live after n*gga

This story gotta be bullsh*t
+61   

 1 week ago '17        #17
justin747  topics gone triple plat - Number 1 spot x5
Props total: 167081 167 K  Slaps total: 22203 22 K
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 Blak King said
Locked in but Iíve been thinking of just moving to Cali. Iím good..
Do it. Even if you only just try California for a few months or a year. If you don't like it you can always go back home or go somewhere else.

Don't get locked into another long term mortgage if you don't have to. Enjoy life for a little bit.
+2   

 1 week ago '05        #18
pnoi89  topics gone triple plat - Number 1 spot x4
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 Blak King said
You donít think thatís a waste of money? I feel like I might as well by a house with 2k mortgage.
Leverage your debt. Buy a house for the bare minimum downpayment and pay the minimum mortgage. Invest the rest for a higher return and to produce passive income in the long term.

For what itís worthÖ say $300k invested in VOO (S&P500) produces an average of 10% per year for the next 10 years.

Thatís literally $30k per year. And you can NOT touch that and reinvest to compound it.

Year 1: $300k +10% = $330k ($30k profit).
Year 2: $330k +10% = $366k ($33k profit).
Year 3: $366k +10% = $399.6k ($39.6k profit).

You get the idea. And the more you add, the quicker your wealth grows, while your house may appreciate more as well, then you could cash that out as well.

Good luck and utilize your cash wisely.
+21   

 1 week ago '04        #19
collegeboy58 
Props total: 19715 19 K  Slaps total: 1019 1 K
 Blak King said
Now I donít have anywhere to go. I canít find another house that fit my needs not more than half a million. Rent in the area is as much as a half million house. No way Iím going to go to another house just like I left for more money.

Starting to think this is the worst mistake of my life. Gotta move in with my girl, my sonís mom or my parents.

Iím sickÖ

I never had that much bread and was like fxck it. Now Iím homeless with a lot of cash. Iím scared and no one cares. Iím really concerned.

Lost security to touch the White man Bread.

Help, Iím paranoid.
Iím the aquisitions person for a company and thatís the biggest objectionÖat first. Then I start painting a picture of all the sh*t they can do with the money. Did you sell on market or off market?
+2   

 1 week ago '06        #20
sunsetnVine 
Props total: 19490 19 K  Slaps total: 1890 1 K
 Blak King said
Now I donít have anywhere to go. I canít find another house that fit my needs not more than half a million. Rent in the area is as much as a half million house. No way Iím going to go to another house just like I left for more money.

Starting to think this is the worst mistake of my life. Gotta move in with my girl, my sonís mom or my parents.

Iím sickÖ

I never had that much bread and was like fxck it. Now Iím homeless with a lot of cash. Iím scared and no one cares. Iím really concerned.

Lost security to touch the White man Bread.

Help, Iím paranoid.
Let me guess northern va or cali?

 1 week ago '04        #21
CentsCuZ 
Props total: 8105 8 K  Slaps total: 2121 2 K
I had my house paid off and sold it a while back. One of the worst mistakes I ever made. It taught me a valuable lesson when it comes to real estate -- never sell. Just use it to leverage debt and buy more. If you don't like a house, rent it out, and use that income on your loan app to buy something else. If you follow this strategy and keep your regular (none-house-related) income coming in, you'll eventually be a mini real estate mogul at worse.
+21   

 1 week ago '06        #22
sunsetnVine 
Props total: 19490 19 K  Slaps total: 1890 1 K
 Blak King said
Now I donít have anywhere to go. I canít find another house that fit my needs not more than half a million. Rent in the area is as much as a half million house. No way Iím going to go to another house just like I left for more money.

Starting to think this is the worst mistake of my life. Gotta move in with my girl, my sonís mom or my parents.

Iím sickÖ

I never had that much bread and was like fxck it. Now Iím homeless with a lot of cash. Iím scared and no one cares. Iím really concerned.

Lost security to touch the White man Bread.

Help, Iím paranoid.
My realtor told me this happened to a ton of clients. If u can find something to rent or buy new and arm it out and refi once u paid off a lot or before second reset
+4   

 1 week ago '17        #23
TellyHankton337 
Props total: 1301 1 K  Slaps total: 257 257
 Blak King said
Now I donít have anywhere to go. I canít find another house that fit my needs not more than half a million. Rent in the area is as much as a half million house. No way Iím going to go to another house just like I left for more money.

Starting to think this is the worst mistake of my life. Gotta move in with my girl, my sonís mom or my parents.

Iím sickÖ

I never had that much bread and was like fxck it. Now Iím homeless with a lot of cash. Iím scared and no one cares. Iím really concerned.

Lost security to touch the White man Bread.

Help, Iím paranoid.

Do as much research on investing as you can move in swallow your pride and multiply that money
+2   

 1 week ago '05        #24
dblockallday 
Props total: 3865 3 K  Slaps total: 686 686
put that cash in the market.
 CentsCuZ said
I had my house paid off and sold it a while back. One of the worst mistakes I ever made. It taught me a valuable lesson when it comes to real estate -- never sell. Just use it to leverage debt and buy more. If you don't like a house, rent it out, and use that income on your loan app to buy something else. If you follow this strategy and keep your regular (none-house-related) income coming in, you'll eventually be a mini real estate mogul at worse.
smart man.

The rich leverage their a*sets (such as real estate) to take out loans then use that money to invest or buy more a*sets, that will grow at a higher rate than the interest on the loan.

when done right they're multiplying their wealth without doing anything other than time spent researching what to invest in/buy.

there's an old saying it takes money to make money. but really it's a*sets that you can leverage into money, to make more money.


Last edited by dblockallday; 07-21-2021 at 08:41 PM..
+10   

 1 week ago '05        #25
projectd06 
Props total: 28938 28 K  Slaps total: 7123 7 K
The question at the end of the day is will renting until the housing market dips/crashes be more expensive then what you would spend on a house right now and I think it is. If you're going to save 50-70k after the dip, as long as you dont end up renting longer than it takes to burn 50k your not at a loss
+7   



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