My $200 Vegas Hooker

Quote: AcesAndEights

Do you literally have NO credit score/history? If so, in this day and age of easy credit, surely you could get approved for SOME kind of credit card? It would probably have a low limit and a high interest rate, but just start using it as much as you can and pay off the balance every month. You won't pay any interest and you will start to establish credit.

If you do have a credit history, just with a really bad score due to bankruptcy or something else in your past, I feel like the same strategy would work. I dunno though, I'm not a credit repair expert.

Seems like living out of hotels would get expensive, unless you are comped.

Quit piping in with logic in this thread. ZK seems incapable of understanding it. I admire people that stay out of debt, but having credit is a completely different animal. Like most people I have a mortgage and credit card debt. My mortgage is at 3.5% for 30 years which I am very happy with. All of my credit card debt is at 0% interest so I will continue to carry that as long as I can keep finding 0%. If the 0% goes away I will pay it off out of my savings.

Quote: sevencard2003

democrats want to get rid of more than just the 2nd amendment, they also want to get rid of the first. me, my mother whose almost 80 and friends have their posts censored before on facebook, twitter, etc. and i bet they want to get rid of several others too.

but to get this back on topic, being debt free isnt an easy life. how would u like to be forced to live out of hotels your whole life because most apartments are too unsafe in vegas to live in if u have no credit history and your only income is gambling? only slumlords and motels want to rent to u.

but ill never give up the 40k per year i average in $1-2 NL holdem to get $7-8 per hour standing in walmart 7-11 or mc donalds all day long. to hell with a regular job at half the income

I found this amusing (bolded). The topic is $200 hookers. No one has visited that topic for 5-6 pages now. Is there anything more that needs to be said about Vegas hookers? Seems like a fertile topic.

Given that the thread started in 2015, what does a $200 hooker cost now, at the end of 2018?

What do you get for $200? Somebody implied that's just to show up. How is there value in that? Plumbers get more just to show up. If you refuse to pay more, do you still get something besides a shadow filling the door?

Quote: Wizard

I'd like to discuss the Magna Carta for a change.

Is that anything like the Dirty Sanchez?

Does it cost more than $200.00?

Quote: MrV

Is that anything like the Dirty Sanchez?

Does it cost more than $200.00?

A copy of the Magna Carta sold for $21.3 million in 2007.

Quote: TigerWu

A copy of the Magna Carta sold for $21.3 million in 2007.

For that price, it not only knows all about the constitution: It is the constitution*

Quote: Wizard

Would you be up to proving this? My window will be wide open for betting.

No Mike.... do not get involved. Someone chugging 5 bottles of whiskey could easily die.

Someone chugging 5 bottles of whiskey would die.

Quote: sevencard2003

democrats want to get rid of more than just the 2nd amendment, they also want to get rid of the first. me, my mother whose almost 80 and friends have their posts censored before on facebook, twitter, etc. and i bet they want to get rid of several others too.

but to get this back on topic, being debt free isnt an easy life. how would u like to be forced to live out of hotels your whole life because most apartments are too unsafe in vegas to live in if u have no credit history and your only income is gambling? only slumlords and motels want to rent to u.

but ill never give up the 40k per year i average in $1-2 NL holdem to get $7-8 per hour standing in walmart 7-11 or mc donalds all day long. to hell with a regular job at half the income

There are perfectly fine apartments and individually owned condos that have no problem renting to someone with no credit. You just need about 6 months total rent upfront.

Quote: OnceDear

Someone chugging 5 bottles of whiskey would die.

Only weak willed drones die from chugging 5 bottles of whiskey.

Quote: DRich

Quit piping in with logic in this thread. ZK seems incapable of understanding it. I admire people that stay out of debt, but having credit is a completely different animal. Like most people I have a mortgage and credit card debt. My mortgage is at 3.5% for 30 years which I am very happy with. All of my credit card debt is at 0% interest so I will continue to carry that as long as I can keep finding 0%. If the 0% goes away I will pay it off out of my savings.

Debt and credit go hand in hand. The problem is the mindset in place. Everyone, including these businesses who go bankrupt after millions in loans, knows in the back of their mind, they can get a 'handout' from the government or loan agency or mortgage company without ever having to work for it. These businesses then go bankrupt and ask for bankruptcy protection in the millions further destroying the economy.

On the individual scale, people become less ambitious because they can get a 500k loan for a house at the tip of a finger. Wow, 500k as long as your 'credit score' is perfect LOL. You see the trap now? To get one, you need the other. These people dont realize the long term implications of this lazy entitled tip of a finger mindset without ever working for what they want. This is exactly what the fiat monetary credit system in place relies upon. The lazy entitled mindset where no one wants to work for anything but instead have it instantly given to them on a silver platter. What these idiot drones today dont understand is that 500k house they just got a 30 year mortgage on used to cost 50k.

If only the mindset in place for the past century was to sacrifice and work hard for what they wanted, save up etc, generations moving forward would have been better off in the long run. Even today, there is no excuse to take out a mortgage, your standard of living will just have to be worse and will be 5x harder to achieve what we had in the past thanks to all the credit system drones before us as well as the ones today. People today, as well in the future will just keep contributing to this credit system through ignorance and laziness, thereby destroying this once great country that was one of the wealthiest nations and is now the worlds biggest debtor.

Imagine if we never implemented the Federal Reserve, ended all bank loans, bank bailouts, credit cards, mortgages, loans, etc? You know what the end result would have been? Paying much less than what we're paying now for everything had you just worked for everything and never asked for a handout. Instead of asking for a 500k mortgage at 25, how about you wait until 35 to buy it with cash? If 500k house is too much, buy a 100k house or 200k house. Not to mention, if none of this credit system garbage ever came into existence and people were willing to work for what they wanted, saved up, and understood how an economy truly grows, everyone by 30 would have mansions already because inflation wouldnt exist. Now these same places have skyrocketed in comparison to the average working wage and so we are all screwed.

You guys just dont understand how wrong you are by continuing to support this credit system in place. For the ones who do understand and still contribute because it makes their life a bit easier in society because the whole society revolves around it now are also part of the problem. The funny part is cash is still king so thats just an excuse. You can still live easy in society by simply using cash for everything. People just dont understand economics and are willing to sacrifice to get what they want. The end result is an inflationary economy that will only get worse for generations to come.

Good job guys. Keep accepting those credit cards and mortgages for short term benefits. Hope they give you guys a kit kat next time rather than a hersheys.

Anybody know any professional economists we can get to come into this thread and explain to ZK how everything works?

Quote: TigerWu

Anybody know any professional economists we can get to come into this thread and explain to ZK how everything works?

If you need a so called 'professional' to educate you about economics, then that says it all about how society has gone down the drain. It sure explains the massive inflation that's in place. When everyone is so ignorant to how an economy truly grows, this is the result. 500k houses that used to cost 50k. Get that mortgage ready.

Quote: TigerWu

Anybody know any professional economists we can get to come into this thread and explain to ZK how everything works?

Talk about an exercise in futility.

Same outcome as buying a $200 Hooker after drinking 5 bottles of liquor.

Just a waste of time and no one accomplishing anything to completion.

Quote: ZenKinG

If you need a so called 'professional' to educate you about economics, then that says it all about how society has gone down the drain. It sure explains the massive inflation that's in place. When everyone is so ignorant to how an economy truly grows, this is the result. 500k houses that used to cost 50k. Get that mortgage ready.

I rest my case.

Quote: ZenKinG

If you need a so called 'professional' to educate you about economics, then that says it all about how society has gone down the drain. It sure explains the massive inflation that's in place. When everyone is so ignorant to how an economy truly grows, this is the result. 500k houses that used to cost 50k. Get that mortgage ready.

Don’t you have an appointment to show MGM who really owns them?

And the line outside the mission downtown for Thanksgiving Dinner is getting long already. Some of those down on their luck people could use your financial and life advice.

Give Back for once ZK, volunteer to serve.

Or just buy a $200 hooker, it might do you wonders.

Quote: ZenKinG

On the individual scale, people become less ambitious because they can get a 500k loan for a house at the tip of a finger. Wow, 500k as long as your 'credit score' is perfect LOL. You see the trap now? To get one, you need the other. These people dont realize the long term implications of this lazy entitled tip of a finger mindset without ever working for what they want. This is exactly what the fiat redit system in place relies upon. The lazy entitled mindset where no one wants to work for anything but instead have it instantly given to them on a silver platter. What these idiot drones today dont understand is that 500k house they just got a 30 year mortgage on used to cost 50k. If only they sacrificed and worked hard for what they wanted, saved up etc, they would have been better off in the long run.

Imagine if we never implemented the Federal Reserve, ended all bank loans, bank bailouts, credit cards, mortgages, loans, etc? You know what the end result would have been? Paying much less than what we're paying now for everything had you just worked for everything and never asked for a handout. Instead of asking for a 500k mortgage at 25, how about you wait until 35 to buy it? Not to mention, if none of this credit system garbage ever came into existence and people were willing to work for what they wanted, saved up, and understood how an economy truly grows, everyone by 30 would have mansions already because inflation wouldnt exist. Now these same places have skyrocketed in comparison to the average working wage and so we are all screwed.

You realize that by renting you are just paying someone else’s mortgage while getting exactly $0 in equity?

You also don’t need a $500k house. When I was looking to move out of my parents at age 25, I looked at apartments. Anything halfway decent in my area was around $1600/month.

Instead, I bought a townhouse for $150k. It was fully renovated with new floors, bathrooms, kitchen, and HVAC. While I wouldn’t describe the area as “desirable” to rich white folk, it’s by no means a dangerous or sh*tty neighborhood.

My mortgage is around $860/mo including tax and insurance. Can you explain to me how I made a poor financial decision?

Quote: Boz

Don’t you have an appointment to show MGM who really owns them?

And the line outside the mission downtown for Thanksgiving Dinner is getting long already. Some of those down on their luck people could use your financial and life advice.

Give Back for once ZK, volunteer to serve.

Or just buy a $200 hooker, it might do you wonders.

Thanksgiving? You mean Thursday, Novermber 22nd? Just another Thursday to me. I dont need the government to tell me when to appreciate history or to be with my family. You should be appreciating it every day you live. Veterans day, President's day, Easter, Thanksgiving, Christmas are all just social constructs. You should be appreciating every one of those holidays every day.

The funniest one is Valentines day. If youre not appreciating your partner every day and need a holiday to shower them with gifts and love, that says it all. Whats even funnier is when the girl gets mad at you if you somehow forget her birthday or dont buy her anything for Valentines day even if you appreciate her 363 out of the 365 days of the year. Go ahead and try it. Find a girlfriend and cherish her for 363 days of the year but forget her birthday and Valentines day and watch what happens. Thats the epitome of a drone.

Hey, ZK, do you have a Tumblr account by any chance? I think you'd fit in nicely over there....

Quote: ZenKinG

Whats even funnier is when the girl gets mad at you if you somehow forget her birthday or dont buy her anything for Valentines day even if you appreciate her 363 out of the 365 days of the year. Go ahead and try it. Find a girlfriend and cherish her for 363 days of the year but forget her birthday and Valentines day and watch what happens. Thats the epitome of a drone.

I guarantee that b!@tch does not know her Constitution.😎

Quote: gamerfreak

You realize that by renting you are just paying someone else’s mortgage while getting exactly $0 in equity?

You also don’t need a $500k house. When I was looking to move out of my parents at age 25, I looked at apartments. Anything halfway decent in my area was around $1600/month.

Instead, I bought a townhouse for $150k. It was fully renovated with new floors, bathrooms, kitchen, and HVAC. While I wouldn’t describe the area as “desirable” to rich white folk, it’s by no means a dangerous or sh*tty neighborhood.

My mortgage is around $860/mo including tax and insurance. Can you explain to me how I made a poor financial decision?

Im aware of that. I agree that apartments are a waste of money because its going towards nothing, but in my situation it still made the most sense. You fail to label all of the miscellaneous costs that come along with owning a home in comparison. Down payment, HOA fees, property taxes, homeowners insurance, other miscellaneous costs to maintain the house whereas the apartment maintains everything for me for free. I also believe if you pay less than a certain amount for the down payment, I think less than 20%, you also then get hit with another insurance payment.

I am looking though to eventually buy a house though, but it didnt make much sense to me right now. Im looking to buy one around 35 years old, where i should then have at least 100-200k liquid and then ill look at my options. Probably wont go the mortage route either.

Quote: ZenKinG

whereas the apartment maintains everything for me for free.

Wow! Now THAT is a 100% drone statement!

ZK, why are you still using CASH like a mindless drone? Letting the gub'mint tell you what those little pieces of paper are worth?

Everyone knows the barter system is the one true superior economic system.

Quote: TigerWu

ZK, why are you still using CASH like a mindless drone? Letting the gub'mint tell you what those little pieces of paper are worth?

Everyone knows the barter system is the one true superior economic system.

What would ZK have to barter?

Quote: gamerfreak

You realize that by renting you are just paying someone else’s mortgage while getting exactly $0 in equity?

You also don’t need a $500k house. When I was looking to move out of my parents at age 25, I looked at apartments. Anything halfway decent in my area was around $1600/month.

Instead, I bought a townhouse for $150k. It was fully renovated with new floors, bathrooms, kitchen, and HVAC. While I wouldn’t describe the area as “desirable” to rich white folk, it’s by no means a dangerous or sh*tty neighborhood.

My mortgage is around $860/mo including tax and insurance. Can you explain to me how I made a poor financial decision?

What did the person you bought it from pay for it? How did he do? It's a concern, but future results vary.

Your mortgage gets you in the door. Now you have all the bills associated with ownership. I rent. My sink gets clogged, I make a phone call and someone comes by.

AC on the fritz? Not my problem. Some itinerant person falls on my sidewalk, not my problem.

Most importantly, to me- I'm committed for the next nine months. You're committed for what, twenty seven more years? You need worry about what your neighborhood and its schools will be like fifteen, twenty years done the road.
You might not know this but the typical Vegas house is worth less today than ten years ago. Think on that.
Money tied to the stock market has tripled in that time span while most peoples largest investment has treaded water for that period.
About 25% of mortgages in Vegas are underwater, and foreclosures are 50% higher than the national average.
Did those folks make poor financial decisions?

For some, home ownership makes sense. For many others, it doesn't. With the new laws, limiting your local deductions, in many places it makes less sense than it did.
I pay less for rent in Vegas than I paid taxes on my Long Island house. I don't talk to the guy I sold my house to, but I talk to my old neighbor and are they pissed.
Imagine buying a house and being told the $17,000 plus in taxes is fully deductible only to have that capped at $10,000 and you now owe taxes on that extra $210,000 over the next thirty years. That also assumes taxes never go up again.

I won't even discuss the perils of paying for a house for twenty eight years only to have a hated ex wife living in it with her new boy toy.
It doesn't only happen to other people.

Quote: Wizard

If you search Google for "Las Vegas hookers," this thread is #7.

Search for Vegas (no "Las") hooker (singular) and it's #2.

Quote: billryan

What did the person you bought it from pay for it? How did he do? It's a concern, but future results vary.

It was bought in foreclosure by a property investment company for around $90k. I approximate they spent around $30k renovating it.

Quote: billryan

Your mortgage gets you in the door. Now you have all the bills associated with ownership. I rent. My sink gets clogged, I make a phone call and someone comes by.

AC on the fritz? Not my problem. Some itinerant person falls on my sidewalk, not my problem.

All in my mortgage+taxes+insurance+HOA is around $960. Renting an apartment half the size of my house would be $1600/mo minimum. I do not spend anywhere near $640/mo to maintain my house.

If my drain is clogged or AC is on the fritz, I also pick up the phone and someone comes by. Sure I pay them a few dollars, but I am still far ahead of what renting would cost. Not to mention a percentage of that mortgage payment goes towards equity in the home.

Quote: billryan

Money tied to the stock market has tripled in that time span while most peoples largest investment has treaded water for that period.
About 25% of mortgages in Vegas are underwater, and foreclosures are 50% higher than the national average.

How much does the thousands you sink into rent earn?

One thing is certain, when you move out of your apartment it will be worth a big fat zero to you.

Quote: billryan

For some, home ownership makes sense. For many others, it doesn't. With the new laws, limiting your local deductions, in many places it makes less sense than it did.
I pay less for rent in Vegas than I paid taxes on my Long Island house. I don't talk to the guy I sold my house to, but I talk to my old neighbor and are they pissed.
Imagine buying a house and being told the $17,000 plus in taxes is fully deductible only to have that capped at $10,000 and you now owe taxes on that extra $210,000 over the next thirty years. That also assumes taxes never go up again.

My property taxes are around $2600.

Quote: SOOPOO

No Mike.... do not get involved. Someone chugging 5 bottles of whiskey could easily die.

As I wrote in response to a similar comment, I wouldn't ask him to drink anything close to five. Maybe about as much as (name redacted) drinks on the average night.

Quote: ZenKinG

It sure explains the massive inflation that's in place. When everyone is so ignorant to how an economy truly grows, this is the result. 500k houses that used to cost 50k. Get that mortgage ready.

Inflation has never been above 3% in the last ten years (source). A little inflation is good for the economy, lest people start hoarding money instead of spending it, which slows the economy's velocity.

Quote: gamerfreak

It was bought in foreclosure by a property investment company for around $90k. I approximate they spent around $30k renovating it.



All in my mortgage+taxes+insurance+HOA is around $960. Renting an apartment half the size of my house would be $1600/mo minimum. I do not spend anywhere near $640/mo to maintain my house.

If my drain is clogged or AC is on the fritz, I also pick up the phone and someone comes by. Sure I pay them a few dollars, but I am still far ahead of what renting would cost. Not to mention a percentage of that mortgage payment goes towards equity in the home.



How much does the thousands you sink into rent earn?

One thing is certain, when you move out of your apartment it will be worth a big fat zero to you.


My property taxes are around $2600.

So the house wasn't a very good investment for the guy who had it foreclosed on, was it? Don't worry, this time it will be different.

My rent is paid by the dividends of the money I have working for me rather than being tied up in a house.


Your philosophy is that you want to be tied down by your largest asset and are willing to gamble that it may go up in the future.

I don't want one of my biggest assets laying fallow for thirty years until I can finally harvest it. I want it working for me now.
There is no one road to success. I hope yours works as well for you as mine has for me.

Would you rather have a copy of the Magna Carta OR 106,500 $200 hooker sessions?

Quote: happahero

Would you rather have a copy of the Magna Carta OR 106,500 $200 hooker sessions?

Can I do 21,300 $1,000 sessions?

Quote: Wizard

Can I do 21,300 $1,000 sessions?

I don't know. You look pretty athletic in your unicycle videos.

Quote: billryan

So the house wasn't a very good investment for the guy who had it foreclosed on, was it? Don't worry, this time it will be different.

Not all investments are good investments. One person buying a house might be good while someone else buying the exact same house may be a bad investment.

There’s nothing wrong with renting, but it is absolutely wrong to think renting is always superior to buying.

Nothing wrong with taking out a mortgage, it is (or can be) a good way to get easy money and make more over time. It’s not going to work out too well if you buy a house with an inflated price tag, have a bad mortgage agreement, or just don’t have the capital to safely buy the house. You need money to back up your investment, not just enough to pay for the “one time” cost.

Quote: happahero

Would you rather have a copy of the Magna Carta OR 106,500 $200 hooker sessions?

The sheer sexiness of owning a copy of the MC would negate having to pay for sex ever again.

Quote: RS

Not all investments are good investments. One person buying a house might be good while someone else buying the exact same house may be a bad investment.

There’s nothing wrong with renting, but it is absolutely wrong to think renting is always superior to buying.

Nothing wrong with taking out a mortgage, it is (or can be) a good way to get easy money and make more over time. It’s not going to work out too well if you buy a house with an inflated price tag, have a bad mortgage agreement, or just don’t have the capital to safely buy the house. You need money to back up your investment, not just enough to pay for the “one time” cost.

I've never said it is always superior to buying. In business, and in life, its best not to paint oneself into a corner. For some, ownership makes sense. For others, it makes less. I'm pretty sure the guy who used to own gamerfreaks house wishes he had rented, no? How do you think the large percentage homeowners in Vegas with underwater mortgages feel?


I don't think of investments as good or bad. I think of them as smart or dumb. Am I investing for the right reasons or because of emotions? I've had lots of smart investments go bad. Have not had many dumb ones turn out well. Over the years, I've learned to avoid most dumb investing decisions.

I encourage people to buy when the circumstances are right. Right house, right neighborhood, right time, right price.. Too many people rush into buying a house because their parents bought a house and we learn from them. They buy a house that's too small for their family, or is in an iffy neighborhood thinking the house will go up in value and they can upgrade later. That doesn't always work out so great. For some, saving $500 a month now trumps whatever other future paths are now closed.
Let me stress something here- I'm talking about buying a house to live in, not a house for rental property. Two entirely different circumstances that have almost nothing to do with each other. I very happily live in a rented apartment while owning property I rent out.

Quote: billryan

So the house wasn't a very good investment for the guy who had it foreclosed on, was it? Don't worry, this time it will be different.

My neighbors told me that his wife maxed out a bunch of credit cards in his name before running off to New York, so he went bankrupt.

But I’m sure the modest house he bought in 1991 was the real problem, shoulda rented and avoided the whole thing.

I am not gambling that the house will go up or down in the next 30 years. I am saving $600-$700/month over renting, even with repairs and maintenance. If the house was worth $0 in 30 years I would still have spent less than if I had rented an apartment.

Quote: beachbumbabs

Quote: sevencard2003

democrats want to get rid of more than just the 2nd amendment, they also want to get rid of the first. me, my mother whose almost 80 and friends have their posts censored before on facebook, twitter, etc. and i bet they want to get rid of several others too.

but to get this back on topic, being debt free isnt an easy life. how would u like to be forced to live out of hotels your whole life because most apartments are too unsafe in vegas to live in if u have no credit history and your only income is gambling? only slumlords and motels want to rent to u.

but ill never give up the 40k per year i average in $1-2 NL holdem to get $7-8 per hour standing in walmart 7-11 or mc donalds all day long. to hell with a regular job at half the income

I found this amusing (bolded). The topic is $200 hookers. No one has visited that topic for 5-6 pages now. Is there anything more that needs to be said about Vegas hookers? Seems like a fertile topic.

Given that the thread started in 2015, what does a $200 hooker cost now, at the end of 2018?

What do you get for $200? Somebody implied that's just to show up. How is there value in that? Plumbers get more just to show up. If you refuse to pay more, do you still get something besides a shadow filling the door?

My favorite way to secure the favors of a two hundred dollar hooker, is on credit.

Quote: billryan

So the house wasn't a very good investment for the guy who had it foreclosed on, was it? Don't worry, this time it will be different.

Maybe he shouldn't have overextended himself when buying a house and only purchased what he could afford. That's why most people get foreclosed on. My wife could lose her job and I still make enough by myself to cover the mortgage. Even if we BOTH lost our jobs we have more than enough saved up to straight up pay off the mortgage if need be, and we're not even rich. It's called being financially responsible.

Quote:

Your philosophy is that you want to be tied down by your largest asset and are willing to gamble that it may go up in the future.

I'm not "tied down" anywhere. I can sell my house and move. Or move then sell it. Or move then rent it out. Plenty of options. And I'm not "gambling" that it goes up in value in the future. I don't care if it does or not. Houses aren't an "investment" for the vast majority of people. It's a place to live. A vital necessity. Do you "gamble" that your clothes are gonna go up in value? Do you "gamble" that your car or your food are gonna go up in value?

Quote:

I don't want one of my biggest assets laying fallow for thirty years until I can finally harvest it. I want it working for me now.

The money you pay for rent isn't working for you, either.

Quote: TigerWu

Maybe he shouldn't have overextended himself when buying a house and only purchased what he could afford. That's why most people get foreclosed on. My wife could lose her job and I still make enough by myself to cover the mortgage. Even if we BOTH lost our jobs we have more than enough saved up to straight up pay off the mortgage if need be, and we're not even rich. It's called being financially responsible.



I'm not "tied down" anywhere. I can sell my house and move. Or move then sell it. Or move then rent it out. Plenty of options. And I'm not "gambling" that it goes up in value in the future. I don't care if it does or not. Houses aren't an "investment" for the vast majority of people. It's a place to live. A vital necessity. Do you "gamble" that your clothes are gonna go up in value? Do you "gamble" that your car or your food are gonna go up in value?



The money you pay for rent isn't working for you, either.

That's correct. The $1200 I pay in rent isn't working for me, compared to the $200,000 that is. Or I could pay $200,000 and save $300 a month while earning zero on the $200,000. Tuff Choice.
My car isn't an investment. Most of them anyways. Neither are my clothes, nor is my place where I live. I have no idea who first convinced people their biggest lifetime investment should be the house they live in but I'm sure he could have sold air conditioners to Polar Bears.
Do any of you know any truly successful rich people whose major asset is the house they live in? I can't say I do.

Quote: billryan

That's correct. The $1200 I pay in rent isn't working for me, compared to the $200,000 that is. Or I could pay $200,000 and save $300 a month while earning zero on the $200,000. Tuff Choice.
My car isn't an investment. Most of them anyways. Neither are my clothes, nor is my place where I live. I have no idea who first convinced people their biggest lifetime investment should be the house they live in but I'm sure he could have sold air conditioners to Polar Bears.
Do any of you know any truly successful rich people whose major asset is the house they live in? I can't say I do.

You could have bought a 200K condo in a great community for 0 down using your VA benefits and your payment with interest rates at all time lows 1-2 years ago. Your mortgage would have been right at about 1K per month including principle, taxes, and insurance. Throw on a few hundred per year and you could have a warranty covering those repairs you seem to dread so much.
Best thing about it, your payment would be locked until your death. Do you really think rent will be the same 10 years from now? How about 3 years from now? Your arguments using your own personal example makes no sense. There are definitely circumstances where renting makes sense though.
Maybe you are just smarter than everyone and have it all figured out though. I am still baffled how you qualify for VA health benefits. As a veteran myself, I checked into it and you pretty much have to be indigent to qualify.

Quote: petroglyph

Quote: beachbumbabs

Quote: sevencard2003

democrats want to get rid of more than just the 2nd amendment, they also want to get rid of the first. me, my mother whose almost 80 and friends have their posts censored before on facebook, twitter, etc. and i bet they want to get rid of several others too.

but to get this back on topic, being debt free isnt an easy life. how would u like to be forced to live out of hotels your whole life because most apartments are too unsafe in vegas to live in if u have no credit history and your only income is gambling? only slumlords and motels want to rent to u.

but ill never give up the 40k per year i average in $1-2 NL holdem to get $7-8 per hour standing in walmart 7-11 or mc donalds all day long. to hell with a regular job at half the income

I found this amusing (bolded). The topic is $200 hookers. No one has visited that topic for 5-6 pages now. Is there anything more that needs to be said about Vegas hookers? Seems like a fertile topic.

Given that the thread started in 2015, what does a $200 hooker cost now, at the end of 2018?

What do you get for $200? Somebody implied that's just to show up. How is there value in that? Plumbers get more just to show up. If you refuse to pay more, do you still get something besides a shadow filling the door?

My favorite way to secure the favors of a two hundred dollar hooker, is on credit.

I will gladly pay you Tuesday for a hamburger today.

Quote: billryan

That's correct. The $1200 I pay in rent isn't working for me, compared to the $200,000 that is. Or I could pay $200,000 and save $300 a month while earning zero on the $200,000. Tuff Choice.
My car isn't an investment. Most of them anyways. Neither are my clothes, nor is my place where I live. I have no idea who first convinced people their biggest lifetime investment should be the house they live in but I'm sure he could have sold air conditioners to Polar Bears.
Do any of you know any truly successful rich people whose major asset is the house they live in? I can't say I do.

Facepalm. That’s like saying I should hire a driver to drive me around because rich people have drivers. Of course their house isn’t going to be a major asset of theirs, but that’s because they have far bigger investments and assets than their home. House values don’t go up linearly with net worth.

Not sure how buying a $200k house outright would only save you $300/month, unless your rent is that cheap...? Take out a mortgage and put down 20-40k. Save 600-900/mo in rent.

Quote: gamerfreak

I have mixed feelings about Dave Ramsay. I think his back to basics advice about budgeting and credit card debt are solid.

However, I think some of the other things he says are out of touch with reality. He says you should only buy a house with a 15 year mortgage, where the payment is no more than 25% of your income after taxes.

Those are unbelievably tight parameters. First, I see no benefit in getting a 15yr mortgage. Second, if you do the math on that, he is saying someone with a salary of $100k can only afford a standard 30yr mortgage payment of $730/mo. Yea, good luck with that crack house that will cripple you with repairs.

He also gets very weird and religious when people call in for personal advice. I remember one lady called and said she caught her husband looking at porn, Dave ranted about how that’s a disgusting sin that no one can come back for, and the woman needs to start considering a divorce. I stopped listening after that.

Pretty much concur. He comes on before Coast to Coast AM here. I used to sometimes sit through him while impatiently waiting for my nightly big foot injection.

I agree with a lot of his stuff about how to go from being a train wreck to more in control of your money. Though, I never heard him give my no 1 tip for broke friends which is cut the chord. No cable TV. No internet. Download a s-load of TV and movies beforehand. Use your phone as a hotspot to do basic interneting.

I think his advice is basically for people who are bad with money (which is a set to whom I belong) and it's pretty solid. But once I heard a few of these moments, I was less inclined to listen.



Weird, because someone saying the exact same thing on coast to coast would be very entertaining.

Quote: MaxPen

As a veteran myself, I checked into it and you pretty much have to be indigent to qualify.

Or have a disability rating. You don't even need that much; I think 0% qualifies you, but 10% definitely gets you in the door.

Quote: billryan

Do any of you know any truly successful rich people whose major asset is the house they live in? I can't say I do.

Except in areas like NYC, do you know any truly successful rich people that rent their home?

A $200 hooker in Vegas has to be probably about the smelliest, dirtiest, loosest woman money can buy. You get what you pay for and if a woman is that cheap, it's for a reason. However, $200 in another state is a different story, you'll be just fine.

Quote: gamerfreak

Except in areas like NYC, do you know any truly successful rich people that rent their home?

Yes, I do. Quite a few. In the Hamptons, much of the summer crowd rents rather than owns. Same in St Thomas. Other than there, I don't really congregate with that many rich folks so the rest would be speculation.

Quote: billryan

Yes, I do. Quite a few. In the Hamptons, much of the summer crowd rents rather than owns. Same in St Thomas. Other than there, I don't really congregate with that many rich folks so the rest would be speculation.

For vacation or seasonal living sure. You are saying those people don’t own ANY other residences?

Quote: RS

Facepalm. That’s like saying I should hire a driver to drive me around because rich people have drivers. Of course their house isn’t going to be a major asset of theirs, but that’s because they have far bigger investments and assets than their home. House values don’t go up linearly with net worth.

Not sure how buying a $200k house outright would only save you $300/month, unless your rent is that cheap...? Take out a mortgage and put down 20-40k. Save 600-900/mo in rent.

How about this for an example. ATT is about $30 a share and pays $2.00 a share. In fifty years, they've never dropped their dividend and usually it goes up another penny or two per year.
$200,000 would buy 6666 shares. The dividends would be $13,333 this year and go up a few bucks each year. That's more than my rent, but doesn't cover my utilities and cable. After twenty years, I have my original investment plus whatever growth the stock has experienced. Historic trends would expect the stock to roughly double so a reasonable expectation would be I will cover my rent while doubling my original investment over that period.

Is it reasonable to expect a house bought today in Las Vegas to double in price in the next twenty years? I don't think so since the average house has experienced zero growth since 2008. Might I be wrong? Of course. But I just might be right, based on all the factors I've already given.

As I've said, this isn't for everyone. I don't criticize anyone for following traditional patterns but I will ask this. If home ownership is such a great thing for the average person, why did the banks need to convince the Federal government to subsidize it so heavily. When I started out, you could deduct all interest from your taxes. Interest on credit cards, on car loans, student loans, interest on almost anything. The government eliminated all of those but left mortgage interest deductible. Why? Is it because they love you and are looking out for you?

Quote: onenickelmiracle

A $200 hooker in Vegas has to be probably about the smelliest, dirtiest, loosest woman money can buy. You get what you pay for and if a woman is that cheap, it's for a reason.

Now this is news.

In Las Vegas, sin city, America's own glory hole, where women flock to sell themselves: $200 will only get you a scabby crack whore?