[Useless]

Wouldn't worry too much about it!!

He's just blowing wind through his pants!!

Ran a few numbers; in order to buy the home that he described, located where he claims, he could not even touch it for less than $3.5 Million; That would only be through some sort of "Sweetheart" deal; you couldn't get a home like that out there for 3.5 million!! With a payment of $350,000.00 applied toward down payment and closing costs, his PITI/MT+Utl. (assumming a cash miltiplier of $6.00 per $1,000. borrowed, which would apply only to principal, interest, and mortgage insurance; does not include taxes or insurance) his monthly payment would be over $28,000. per month, PITI/MI+UTL. can not be over 43% of his gross annual income) so he would have to gross over $780,000. per year in order to qualify for a 30yr. loan, at 5.75%, which would be very difficult to get on what is called a "Jumbo Loan" As far as tax deductions are concerned?? The most that he could write off would be the imterest on the first $1,000,000.00.

As far as an "Interest Only" loan??? They'd laugh him out of their office!!

That means that he would have to gross over $15,000.00 per week. Assuming that he worked 70hrs. per week, and was paid for every min. of his time, with Time x 1.5 for O/T., he would have to gross over $175.50 per hour. If the job paid that much, Lewis friend would have already taken it!!
:P
BTW, I won't buy the "I bought it at a tax auction/DEA Drug Property Siezure/Bankruptcy/Forcosure Auction"; I've spent too many years in Real Estate, and I know from personal and professional experience how those deals work!!. They can be very good investment opportunities, but unless you know what you are doing, they can come back and bite you in the ass very painfully.

This kid is just living in a dream world.

[Blacksheep]

Originally Posted by Useless

Excellent advice for this kid, Blacksheep!!

Apparently, this little poser's mathematical skills are as deficient as his linguistic skills; otherwise, he would see he how utterly foolish he is making himself look!!

He's kind of talked himself into a corner, trying to throw out numbers as far as income and home prices are concerned. Nothing of what of what he is saying adds up at all.

I'm still very hard pressed to believe (and in fact, do not believe) that any insurance company would allow any 22 y/o kid to drive a fuel truck in The Bay Area.

Let's get back to talking tankers!! (trolls and posers need not post!!)

Thanks bro, I try to give good useful advice. I'm glad someone took the time to notice. :lol:

[Dizzy]

Originally Posted by rcso

It would make more financial sense to anyone that if you in fact did have a house in the 'bay area' as you put it, or anywhere in California for that matter; rent that puppy out and you can live on rent alone in many parts of the country. Why you 'choose' to live in such an area where it takes 1.5-2k a month for a small apartment where you can own a house bigger than 4k -5k square feet for the same amount in a mortgage payment in the south is beyond me.

Two words in your post sums it all up.THE SOUTH.ROFLMAO.Whats in the south again?Oh yea nothing.Cheap states down there buddy hate to break it to you.Its cheap down there for a reason.That same house 4k-5k square feet you might be able to get in those cheap states but cant afford that out here.Most people cant afford to live here.

[Dizzy]

Originally Posted by Useless

Wouldn't worry too much about it!!

He's just blowing wind through his pants!!

Ran a few numbers; in order to buy the home that he described, located where he claims, he could not even touch it for less than $3.5 Million; That would only be through some sort of "Sweetheart" deal; you couldn't get a home like that out there for 3.5 million!! With a payment of $350,000.00 applied toward down payment and closing costs, his PITI/MT+Utl. (assumming a cash miltiplier of $6.00 per $1,000. borrowed, which would apply only to principal, interest, and mortgage insurance; doess not include taxes or insurance) his monthly payment would be over $28,000. per month, PITI/MI+UTL. can not be over 43% of his gross annual income) so he would have to gross over $780,000. per year in order to qualify for a 30yr. loan, at 5.75%, which would be very difficult to get on what is called a "Jumbo Loan" As far as tax deductions are concerned?? The most that he could write off would be the imterest on the first $1,000,000.00.

As far as an "Interest Only" loan??? They'd laugh him out of their office!!

That means that he would have to gross over $15,000.00 per week. Assuming that he worked 70hrs. per week, and was paid for every min. of his time, with Time x 1.5 for O/T., he would have to gross over $175.50 per hour. If the job paid that much, Lewis friend would have already taken it!!
:P
BTW, I won't buy the "I bought it at a tax auction/DEA Drug Property Siezure/Bankruptcy/Forcosure auction"; I've spent too many years in Real Estate, and I know from experience how those deals work!!

This kid is just living in a dream world.

ROFLMAO.Where do you come up with 3.5 million.ROFLMAO.Big time real estate man huh?Concord Ca.Look it up.4 bedrooms 2 1/2 bath is not 3.5 mil and if you were the real estate man you said you are you should know that.But you dont.So know what your talking about before you speak.Once again keep on keeping on.ROFLMAO.

[Blacksheep]

Originally Posted by Dizzy

Two words in your post sums it all up.THE SOUTH.ROFLMAO.Whats in the south again?Oh yea nothing.Cheap states down there buddy hate to break it to you.Its cheap down there for a reason.That same house 4k-5k square feet you might be able to get in those cheap states but cant afford that out here.Most people cant afford to live here.

You've got a bad case of little dick syndrome don't you, hey little kid run along before mommy & daddy catch you on their computer.

[Useless]

Originally Posted by Dizzy

Try 4 bedrooms 2 1/2 bath big backyard right in in the bay.One of the most expensive places to live and by a home.

Your words, I believe??

[Dizzy]

Originally Posted by Blacksheep

You've got a bad case of little dick syndrome don't you, hey little kid run along before mommy & daddy catch you on their computer.

Thats twice now that you have talked about my $^*&.Do me a favor keep my %#&* out of your mouth.

[Dizzy]

Originally Posted by Useless

Your words, I believe??

Yes the bay is one of the most expensive places to live and get a home.And what is your point?

[rcso]

You are proud that you spend money you don't need to when you can spend it on something else? Unless you are a celebrity and just idiotically image concious that's just plain illogical buddy. Do you like living in a disaster prone area?

:wink: Do you have any idea how big a 5k sq ft house is. We're talking near mansions here buddy. Take a gander at www.dreamhomesource.com

[Useless]

Grow up, Dizzy!!

You told me that you home was located in "one of the most expensive areas" of the bay area; you did not say where.

Now, you are trying to back peddle, and say that it is in Concord.; not a bad area, but hardly the most expensive areas either.

In any event, IIRC, the median price of a home in Concord is a little over $500,000., you claim that yours is 4/2.5, large back yard, + view of the bay, so if it is as nice as you describe, you'd be looking at over the $750,000.00 to $800,000. range. That is if the home is, in fact, as you claim; as much as you lie, it's hard to know what to believe!! If it's any less than that, then you've been lying about the home itself!!

Realistically, it's still out of your range, though!!

I'll do a little checking' I've dealt with a few clients from Concord.

In the mean time, keep up with your lies; it's good entertainment!! I can only hope that you are a better driver than you are a liar!!