Offline Tom Bishop

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Re: Buying a home is a terrible investment
« Reply #20 on: September 11, 2016, 09:35:57 PM »
To work?  Unless you do all your work at home.  Which is going to be your apartment.  Do you have enough room for an office?  Or are you going to use the kitchen table?
For legitimacy.  As for renting space:
1. Might not be any space in your area, depending on where you live.
2. Know what sucks?  Having to work around the schedule of your client, you, AND whoever else may try to book your space.

If you have enough room in your apartment to open your laptop and type on it, you have an office. Filing cabinets don't need to exist anymore, you know?

Of course, if you wanna start up a store, shop, or something else, well... good luck doing it on a "rent by the hour" mode.

If I were a smart individual looking to sell physical goods I would figure out that we have the internet now and I could open a website, or sell on existing websites.

Also, there is such a thing as  pop-up shops, kiosk businesses, and door-to-door. You would probably want to do that and test the interest of the general public before taking a leap and opening a whole store (which would make sense to take a business loan on if the product was popular).

Depends on the business.  Maybe not an accountant but certainly other ventures require more than one person.

What ventures require multiple people to start up and is impossible to run as a one-man-show? I'm thinking.

The ones I can think of are Amusement Park, Car Dealership, Supermarket... Nothing I can think of that would be startable with 30 to 60K anyway.

And if I thought really hard I can think of smaller-scale one-man-show versions of those businesses too. Nothing is impossible.

A website for an accountant isn't a significant venture. How hard is it to get Wordpress installed, find a survey form plugin for Wordpress, and customize a template? A properly motivated person could do it themselves if they didn't want to pay someone to do it.
Motivated, sure, but it would likely not look very good.  No amount of motivation is going to give you skills.   
And wordpress?  Really?  Let's make your business look like a joke from the URL.  I'm sure it won't hurt.

Wordpress is a free Content Management System you can download and install on your own webhost (ie. a $5/mo shared hostgator plan). Wordpress.com provides a software-as-a-service version of that who will host it for you. I'm pretty sure they will sell you your own .com alias these days, too.

And it doesn't take much talent to find a good looking Wordpress theme and replace a logo... Not a good logo creator? There's Fiverr for that.

Yes, tell me, how often do you click those little pop-up boxes?

If I'm searching for "accountant in Los Angeles" why wouldn't I click on the inline search results if it was relevant?

I, like many others, block ads.

Firstly, most people do not block ads.

Secondly, ad blocking may be short lived, as many technologies are emerging in that space which will allow websites to pass-through advertisement content through their own domain with internal redirect links without the browser seeing itself connecting to a third-party advertising network to retrieve ads.

Finally, the popular adblocker companies allow advertisers to pay to play, so your AdBlock Plus won't stop my google ads anyway.
« Last Edit: September 11, 2016, 10:37:00 PM by Tom Bishop »

Re: Buying a home is a terrible investment
« Reply #21 on: September 11, 2016, 11:09:17 PM »
So a young person should buy a home AND start a business?


Offline Rama Set

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Re: Buying a home is a terrible investment
« Reply #22 on: September 12, 2016, 12:03:22 AM »
So a young person should buy a home AND start a business?

Most everyone who buys a home has a job.  If your business is your job, then yes, one should buy a home and start a business.
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Re: Buying a house is a terrible investment
« Reply #23 on: September 12, 2016, 01:11:29 AM »
Yes, you are spending a lot of your money for ownership in something 30 years away, but what it the benefit of that compared to renting really?

- When you rent you are also not responsible for the house in the event of fire or flooding or repairs.

- When you rent you have the option of moving at any time you want. Maybe you find a new good job which is an hour away. You can move to be close to your new work site.

- What if your wife or kids have a job or a school that is further away. Those things are always changing. The ability to move to a equatable location would help them too.

- The initial investment to rent a home or apartment is quite low. Buyers often need to put down a large deposit to buy a home.

- If you rent from an older person who bought their house a long time ago, they have a much smaller mortgage to pay and is willing to rent to you for less than what a new mortgage on a new home would be.

- If so inclined you can live with house mates, which cuts your monthly proportion considerably, especially when compared to home mortgage.

indeed, owning a home isn't right for literally every single person ever.  no one is saying that it is.  it depends on your specific situation, but, all else equal, buying equity for yourself is better than buying equity for someone else. 

that said, most people don't change jobs and school every couple of years, so it's the right move for most folks with the income to support the decision.

Your main argument seems to be that in 30 years you can stop paying rent. But in that time you are also limiting your freedom and holding yourself back from better jobs which might increase your income significantly right now, not some 30 year distant benefit. 30 years is a long time. 20 years is considered a generation, after all. In 30 years from now you might very well be dead. What a ridiculous investment.

my argument is that you have to pay money to live in a place, and most folks are better off paying for something they own than paying for someone else to own something.  that's hardly ridiculous.  owning a home doesn't trade off with the ability to invest in indexes or start your own business.  at all.  i dunno why you keep bringing those things up.

the notion that owning one home and living in it is a "great investment" is just some shit you made up.  no one says that.  it's just better than renting for most people since most people don't want to rent a shittier dwelling than they could buy so that their lazy internet business selling accountants or whatever can fail without it being too big a deal.

srsly where do you even come up with this stuff.
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Offline Ghost Spaghetti

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Re: Buying a home is a terrible investment
« Reply #24 on: September 12, 2016, 09:00:23 AM »
Buying a home v renting:
-Generally cheaper/month (as a renter you're paying for the renter's mortgage, plus OH&P)
-Greater security (Unless you've got a terrible mortgage deal, the bank generally can't just decide to raise your repayment rate, or decide to evict you on a whim or because they want to sell the property)
-Greater freedom to change it (Knock through walls! Repaint the bedroom in polka-dots, replace all the sinks with cotton-candy machines! You can usually do all this and more in a bought home. Sometimes you need written permission from the landlord to hang a photograph in a rented property.)
-More autonomy (Generally the bank won't send around an inspector to make sure you're looking after the house in a manner that pleases them)
-If your circumstances change, you can sell your house and down-size to reclaim the equity in your house.

-Less flexibility (It's harder to pull up sticks and move elsewhere if you're tied to a house.)


Offline Lord Dave

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Re: Buying a home is a terrible investment
« Reply #25 on: September 12, 2016, 09:22:07 AM »
It also helps build credit as well as having a collateral for other loans.
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Offline Woody

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Re: Buying a home is a terrible investment
« Reply #26 on: September 21, 2016, 12:18:05 PM »
It is very simple.

You can rent and buy real estate for someone else and end up with nothing to show for it.  While the landlord got at the very least you to pay to increase part of the equity they have in the property.

There is a reason most millionaires got their wealth from owning real estate that they got someone else to pay for.

Buying a home is not the right choice for everyone, but if you are going to live in a certain town or city for more than 5 years buying is likely the best option.  Of course this depends on the market and economy.