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Old 04-27-2021, 09:16 AM   #51
gingib
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Originally Posted by friscopaint View Post
I'll never vote for a school bond again, it's ridiculous what I pay for our schools.
All so little Johnny can have the top of the line facilities, like mentioned above!!!!

Frisco, I bet that aint cheap
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Old 04-27-2021, 09:22 AM   #52
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What I wouldn't give to have a 5k tax bill

You should really weigh the options at hand...if u move you will likely spend that extra cash on moving etc. Is it really worth the hassle?.. not me so I stay put and take it..it hurts
Well apparently you'd have to give a a lot of your property.
Staying put and taking it is an option. Is it worth the hassle? Guess that's relative.

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Old 04-27-2021, 09:36 AM   #53
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Well, Texas does not have the market cornered on this issue.
Tons of out of state people buying up property here in Wyoming and driving the prices up.

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Old 04-27-2021, 09:40 AM   #54
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It sucks but property taxes in Texas are a form of segregation. It keeps the riff raff out... and that isn't a color thing it's a class thing. My neighborhood is full of all kinds of nationalities and age groups but they all have one thing in common... they can afford $10,000+ a year in property taxes. Normally that means you have to get up and go to work everyday or at the very least you understand the value of a dollar bill. It means you care about your property and you are gonna keep it up... not always but the majority of the time.

If I could live mortgage free and in peace with great neighbors in a $50,000 house with $1,000 a year property taxes I gladly would. But chances are my stuff would constantly be coming up stolen, my kids would be harassed, drugs would be sold next door and people would be wandering the streets day and night.

It is what it is.

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Old 04-27-2021, 09:55 AM   #55
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Originally Posted by WyoBull View Post
Well, Texas does not have the market cornered on this issue.
Tons of out of state people buying up property here in Wyoming and driving the prices up.

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Texans are just like Californians in this aspect. Fleeing inflated prices and buying cheap(er) elsewheres.

Its funny the relativity of the term “Cheap”. Texas is cheap to the Californians. Iowa and Wyoming is cheap to the Texans.

Im wondering if now might be a good time to buy distressed property in California....or maybe let covid finish working them over a bit more.
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Old 04-27-2021, 10:29 AM   #56
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The Texas Tax Code, Section 33.06, allows taxpayers 65 years of age or older to defer their property taxes until their estates are settled after death.

Not sure how old you are or if you plan on passing the property along to heirs but this is always an option for getting out of taxes (for the time being).
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Old 04-27-2021, 10:30 AM   #57
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Originally Posted by Briar Friar View Post
Texans are just like Californians in this aspect. Fleeing inflated prices and buying cheap(er) elsewheres.

Its funny the relativity of the term “Cheap”. Texas is cheap to the Californians. Iowa and Wyoming is cheap to the Texans.

Im wondering if now might be a good time to buy distressed property in California....or maybe let covid finish working them over a bit more.
You might want to wait awhile, my sister lives in Los Angeles and the housing market is still in full swing/ the bubble hasn’t popped

P.s she has no property taxes, but has to send her children to a private school @ $15,000-$20,000 per child :eek
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Old 04-27-2021, 10:38 AM   #58
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Originally Posted by gingib View Post
All so little Johnny can have the top of the line facilities, like mentioned above!!!!

Frisco, I bet that aint cheap
I bailed on Frisco 8 yrs ago, live in Grayson county now but still not cheap and prices are skyrocketing but that only helps if you are selling which we will be but has to be someone wanting a wedding venue
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Old 04-27-2021, 10:44 AM   #59
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Originally Posted by Briar Friar View Post
Texans are just like Californians in this aspect. Fleeing inflated prices and buying cheap(er) elsewheres.

Its funny the relativity of the term “Cheap”. Texas is cheap to the Californians. Iowa and Wyoming is cheap to the Texans.

Im wondering if now might be a good time to buy distressed property in California....or maybe let covid finish working them over a bit more.
Wyoming real estate is pretty expensive on the front end compared to Texas. One difference is that our property taxes have been pretty low because the oil, gas and coal industry up here has historically picked up a good portion of that tab. That is about to change however and I would not be surprised to see taxes go way up here.

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Old 04-27-2021, 10:48 AM   #60
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It sucks but property taxes in Texas are a form of segregation. It keeps the riff raff out... and that isn't a color thing it's a class thing. My neighborhood is full of all kinds of nationalities and age groups but they all have one thing in common... they can afford $10,000+ a year in property taxes. Normally that means you have to get up and go to work everyday or at the very least you understand the value of a dollar bill. It means you care about your property and you are gonna keep it up... not always but the majority of the time.

If I could live mortgage free and in peace with great neighbors in a $50,000 house with $1,000 a year property taxes I gladly would. But chances are my stuff would constantly be coming up stolen, my kids would be harassed, drugs would be sold next door and people would be wandering the streets day and night.

It is what it is.

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well said right here
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Old 04-27-2021, 01:08 PM   #61
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its getting be very ridicules' for sure, we started out 13 years ago @ $1200 a yr, now we up over $2500, Hunt county / Caddo Mills is growing so much, these builders like DR Horton, are coming an and buying all this land, offering more then appraised value, driving prices up, and they love it... and down side is all these city folk come out, and start complaining because of the lack of city conveniences... its crazy, and the little community is bowing down and making them all feel better by making these changes to city codes and re zoning,
We have a development across from the entry to our neighborhood--300+ houses on about 72 ac, and then 6 more within 4-5 miles. All these homes are in the same school district and the school will soon lose its attractiveness due to the overcrowded classrooms, etc. They would buy and build but folks around the present school won't sell land at a reasonable price---just like you said, waiting on DR Horton, etc to come and give them the golden egg.
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Old 04-27-2021, 01:58 PM   #62
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Originally Posted by friscopaint View Post
I bailed on Frisco 8 yrs ago, live in Grayson county now but still not cheap and prices are skyrocketing but that only helps if you are selling which we will be but has to be someone wanting a wedding venue
Thought I wanted to raise cattle and grow hay in East TX but the taxes are terrible. Guy I used to work with there heard a knock on his door one day. It was the county tax appraisal man. He wouldn’t let the guy inside the house to look around. Can’t say that I blame him.
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Old 04-27-2021, 03:54 PM   #63
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Wish they exempt the seniors or disable from school taxes. Especially if you do not have kids in school. If one opts go to a game, then pay the entrance fee as per use.
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Old 04-28-2021, 11:00 PM   #64
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You might want to wait awhile, my sister lives in Los Angeles and the housing market is still in full swing/ the bubble hasn’t popped



P.s she has no property taxes, but has to send her children to a private school @ $15,000-$20,000 per child :eek


You can spend almost that much or more to send your kids to private school in Baton Rouge.

I think 12k may be the low and up to almost 25k is the high.


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Old 04-28-2021, 11:11 PM   #65
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You can spend almost that much or more to send your kids to private school in Baton Rouge.

I think 12k may be the low and up to almost 25k is the high.


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We looked into wether or not we could afford sending our son to private school several years ago.
The one near us was $1,500 a month if you did the 12 month payment plans.
That’s 18k a year.... the price of a fricking mortgage. We were shocked.


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Old 04-28-2021, 11:30 PM   #66
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We looked into wether or not we could afford sending our son to private school several years ago.
The one near us was $1,500 a month if you did the 12 month payment plans.
That’s 18k a year.... the price of a fricking mortgage. We were shocked.


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Imagine having 2 to 4 kids like some folks have. My boss has 4 and he’s around 7k for 3 of them and 12k for one.


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Old 04-29-2021, 12:02 AM   #67
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Imagine having 2 to 4 kids like some folks have. My boss has 4 and he’s around 7k for 3 of them and 12k for one.


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I have 4 kids. They have never spent a day in public school. Once my 2nd started and we were paying for two my wife sat me down and said, "babe we got 2 more coming". Our solution was homeschooling.... It's not free either. I wish TX was like Louisiana and would allow us to write off a portion of it.

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Old 04-29-2021, 04:59 AM   #68
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It is time to hold our local officials accountable on the tax rates. Just because property values increase does not mean they can get a big bump in revenue. Go to the meeting and let your voice be heard. Tell them to adjust rates downward to keep taxes level.
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Old 04-29-2021, 05:19 AM   #69
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Wyoming real estate is pretty expensive on the front end compared to Texas. One difference is that our property taxes have been pretty low because the oil, gas and coal industry up here has historically picked up a good portion of that tab. That is about to change however and I would not be surprised to see taxes go way up here.

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My opinion, Wyoming has a much better taxing structure in place than Texas. Tax people on what they purchase, so the people who consume the most, pay the most in taxes. And there is a state sales tax and locals sales tax. Wyomings sales tax may need to be tweaked to adjust for out of staters, but I would rather have that than property taxes.

Texas on the other hand confiscates a persons hard earned money no matter what they spend. So if I make 50k a year, but save every penny for 20 years, drive crappy cars my whole life, to buy that real nice house in the real nice neighborhood, the state will steal my money at the same rate as the guy who has the same real nice house, with two lifted superduties in the driveway, a boat in the garage, and a camper parked alongside the house.

Folks don't realize, if you have a property tax, you never truly own anything. Just rent it from the government.
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Old 04-29-2021, 08:18 AM   #70
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I would never complain about my property VALUE increasing. The real issue here is the tax rates stay the same or increase on an increasing taxable appraised value.

Simply put, the tax revenue may increases regardless of the rate increase (based upon appraisal). So why do we not ever see a reduction in the rate. Politicians boast about not increasing tax rates....well you still got more tax revenue over time so why not decrease the rate. Anyways...
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Old 04-29-2021, 08:56 AM   #71
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My opinion, Wyoming has a much better taxing structure in place than Texas. Tax people on what they purchase, so the people who consume the most, pay the most in taxes. And there is a state sales tax and locals sales tax. Wyomings sales tax may need to be tweaked to adjust for out of staters, but I would rather have that than property taxes.

Texas on the other hand confiscates a persons hard earned money no matter what they spend. So if I make 50k a year, but save every penny for 20 years, drive crappy cars my whole life, to buy that real nice house in the real nice neighborhood, the state will steal my money at the same rate as the guy who has the same real nice house, with two lifted superduties in the driveway, a boat in the garage, and a camper parked alongside the house.

Folks don't realize, if you have a property tax, you never truly own anything. Just rent it from the government.
Finally got my wife to understand this. I don't care if I ever pay off my house! I will keep refinancing it and pulling money out of it to invest else where. Don't pay Tax on borrowed money and it shrinks the amount I will pay when I do sell. My thought is to get your monthly "rental" payment as low as you can since you will have one all your life.
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Old 04-29-2021, 09:22 AM   #72
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My opinion, Wyoming has a much better taxing structure in place than Texas. Tax people on what they purchase, so the people who consume the most, pay the most in taxes. And there is a state sales tax and locals sales tax. Wyomings sales tax may need to be tweaked to adjust for out of staters, but I would rather have that than property taxes.

Texas on the other hand confiscates a persons hard earned money no matter what they spend. So if I make 50k a year, but save every penny for 20 years, drive crappy cars my whole life, to buy that real nice house in the real nice neighborhood, the state will steal my money at the same rate as the guy who has the same real nice house, with two lifted superduties in the driveway, a boat in the garage, and a camper parked alongside the house.

Folks don't realize, if you have a property tax, you never truly own anything. Just rent it from the government.

So you are in favor of a consumption tax? I am too.


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Old 04-29-2021, 09:24 AM   #73
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Property tax is one of the marks of a socialist society. It's a fine for being productive and choosing to acquire something. For the wife and I, the biggest check we write all year is for the right to continue to live in the home, and on the property we spent all our lives to have.
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Old 04-29-2021, 09:32 AM   #74
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Finally got my wife to understand this. I don't care if I ever pay off my house! I will keep refinancing it and pulling money out of it to invest else where. Don't pay Tax on borrowed money and it shrinks the amount I will pay when I do sell. My thought is to get your monthly "rental" payment as low as you can since you will have one all your life.
This is the most absurd financial advice I have heard!

I won't have a payment all my life. Vehicle or house!

Some do yes. If you live the way most people do
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Old 04-29-2021, 09:42 AM   #75
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My opinion, Wyoming has a much better taxing structure in place than Texas. Tax people on what they purchase, so the people who consume the most, pay the most in taxes. And there is a state sales tax and locals sales tax. Wyomings sales tax may need to be tweaked to adjust for out of staters, but I would rather have that than property taxes.

Texas on the other hand confiscates a persons hard earned money no matter what they spend. So if I make 50k a year, but save every penny for 20 years, drive crappy cars my whole life, to buy that real nice house in the real nice neighborhood, the state will steal my money at the same rate as the guy who has the same real nice house, with two lifted superduties in the driveway, a boat in the garage, and a camper parked alongside the house.

Folks don't realize, if you have a property tax, you never truly own anything. Just rent it from the government.
When we left Austin in 2010 to move back home here to Wyoming, our property taxes were right at $8000 per year. Fast forward 11 years and my property taxes here are a little over a third of what they were in Austin 11 years ago and I have twice the house and it is also several years newer.

Yes, real estate is more expensive here on the front end price of the house that what we experienced in Austin, but I would rather pay more up front in the asking price and then pay less in property taxes now that it is paid off because as you mentioned, property tax is ongoing and never ends. You think you own your home outright, but try not paying your property taxes and see how long they let you stay there.

Regardless of where you live, you are going to pay up one way or another.
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Old 04-29-2021, 09:43 AM   #76
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This is the most absurd financial advice I have heard!

I won't have a payment all my life. Vehicle or house!

Some do yes. If you live the way most people do
Why is it absurd?

Unless someone allows you to squat on their property for free, you will always be paying someone a fee for a place to stay whether it is a bank, landlord or tax office.
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Old 04-29-2021, 11:56 AM   #77
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Thought I wanted to raise cattle and grow hay in East TX but the taxes are terrible. Guy I used to work with there heard a knock on his door one day. It was the county tax appraisal man. He wouldn’t let the guy inside the house to look around. Can’t say that I blame him.
I'd never let a tax appraiser inside. My personal belongings, furniture, etc. are none of their business.
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Old 04-29-2021, 12:18 PM   #78
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Why is it absurd?

Unless someone allows you to squat on their property for free, you will always be paying someone a fee for a place to stay whether it is a bank, landlord or tax office.
Because it is. Continuing to refinance and then pulling money out you already paid 3-5% interest on to do it again is flat out insane. Plus refi fee's and costs.

Hence why you don't ever pull from a retirement account either to live on. Just poor managing of money


Yes you will always pay taxes. Better then the alternative of renting and throwing away money.
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Old 04-29-2021, 12:38 PM   #79
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Because it is. Continuing to refinance and then pulling money out you already paid 3-5% interest on to do it again is flat out insane. Plus refi fee's and costs.

Hence why you don't ever pull from a retirement account either to live on. Just poor managing of money


Yes you will always pay taxes. Better then the alternative of renting and throwing away money.
Dave Ramsey guy I am guessing?

It is not flat out insane. Perhaps you do not understand the math behind it, but he is not wrong. Having a large portion of your net worth parked in your home inaccessible to you, like having it paid off, is detrimental to wealth accumulation. Sometimes folks do it because of their own risk aversion.

I am not the guy that will argue for constantly leveraging your home just as hard as possible, but without leverage of some kind, one can not escape the rat race, period.

If you are shaky on the math, and we can discuss without 'flaming' on a discussion forum I can show you how its not 'insane'.
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Old 04-29-2021, 12:51 PM   #80
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We got back from looking in Florida panhandle 2 days ago. I'm about to retire and can't handle the taxes going up every year here. Would love to stay in Texas but can't afford it, my first $5000 in property taxes is exempted in Florida due to current VA disability breaks which basically means we will live income and property tax free. I wrote my state rep yesterday but he probably figures me leaving will just have another person buying my place and replacing me. Roads were much nicer in Florida to.
This is where I'd retire to, or just move to, if I could. Love this area and most are hard core conservative. Good luck to ya.
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Old 04-29-2021, 12:56 PM   #81
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I pay about $5k a year in taxes, and $800 a year in homeowners dues.
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Old 04-29-2021, 01:02 PM   #82
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value went up by $36 K.....

I could sell for $100k more than they have it listed at, so not sure about fighting it...

$8500 per year in taxes, another $3k in insurance.....sucks but I love where I live right now...but I wont stay after I retire....

I will be on a lake somewhere
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Old 04-29-2021, 01:28 PM   #83
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Wish they exempt the seniors or disable from school taxes. Especially if you do not have kids in school. If one opts go to a game, then pay the entrance fee as per use.
this has been my contention, since my kids are grown and out of school, why should i have to foot the bill for all the new folks moving in with kids,, i know that when you turn 65 Hunt County Freezes your Taxes, and gives a 10000 of school taxes, but hell thats 10 years away
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Old 04-29-2021, 01:46 PM   #84
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Dave Ramsey guy I am guessing?

It is not flat out insane. Perhaps you do not understand the math behind it, but he is not wrong. Having a large portion of your net worth parked in your home inaccessible to you, like having it paid off, is detrimental to wealth accumulation. Sometimes folks do it because of their own risk aversion.

I am not the guy that will argue for constantly leveraging your home just as hard as possible, but without leverage of some kind, one can not escape the rat race, period.

If you are shaky on the math, and we can discuss without 'flaming' on a discussion forum I can show you how its not 'insane'.
Pay it off and there is no more interest and payment. Simple.

Paying say 4% on a mortgage payment of $1000. Rough math but more then half of that will go to Interest down the drain. So you spent $1000 and gained say $400 in principal.

Then you wanna take that out, pay thousands in closing costs, and pay that $1000 again in the form of it now being $900 because you lowered your payment. So throw another $500 down the drain. Plus the months your falling behind now.

Sorry it makes no sense unless your getting 100% ROI, which is not feasible over the lifetime of house payments you want and will have.

And why is a large portion of your net worth in a home, that is problem 1. If your equity in your home is large compared to your net worth then you are part of the rat race lol


And yes you need to risk money to make money, this is not the way.

Factor in that $1000 a month into 7-8% safely and its way healthier


Its the same logic of why some investment options are double or triple smart. Roth, HSA, etc
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Old 04-29-2021, 02:13 PM   #85
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Pay it off and there is no more interest and payment. Simple.

Paying say 4% on a mortgage payment of $1000. Rough math but more then half of that will go to Interest down the drain. So you spent $1000 and gained say $400 in principal.

Then you wanna take that out, pay thousands in closing costs, and pay that $1000 again in the form of it now being $900 because you lowered your payment. So throw another $500 down the drain. Plus the months your falling behind now.

Sorry it makes no sense unless your getting 100% ROI, which is not feasible over the lifetime of house payments you want and will have.

And why is a large portion of your net worth in a home, that is problem 1. If your equity in your home is large compared to your net worth then you are part of the rat race lol


And yes you need to risk money to make money, this is not the way.

Factor in that $1000 a month into 7-8% safely and its way healthier


Its the same logic of why some investment options are double or triple smart. Roth, HSA, etc

Based on your post it sounds like you are re-iterating a talking point from a debt aversion seminar instead of running actual calcs, statements like 'rough math' means as 'best as I can recall from the seminar' lol. Which in this case means wrong math. For one thing......

-$1,000 at 4% interest on a 30 year amortization will cost $718.70 in interest. So you spent $718.70 for your $1,000 in principal. Not $1,000 for $400. Not sure of your methodology but it is incorrect.

-$1,000 invested at 4% simple interest, compounded annually, for 30 years is $2,200. In other words your $1,000 principal earned you $1,200. In case you are wondering ($718/$1,200)x100= 59.8% more money over the life of the loan at the same interest rate.

-No clue where the 100% roi comment came from but is obviously false as demonstrated above.

Now if you really want to have fun.. we can look at leveraged asset ROI... What Dave DOESN'T teach you lol.
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Old 04-29-2021, 03:38 PM   #86
tx_basser
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am in the same boat. Am seeing the writing on the wall and know it is time to move if I want to have any kind of retirement in the future instead of paying the State and Dallas County.
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Old 04-29-2021, 04:15 PM   #87
refugioco
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Originally Posted by friscopaint View Post
I'll never vote for a school bond again, it's ridiculous what I pay for our schools.
Especially if they build a 50 million dollar stadium used 3 times a week, and lock out the people who paid for it. Some states open up their stadiums and tracks for people to walk to show gratitude. I am an ex football coach and it still baffles me.
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Old 04-29-2021, 04:18 PM   #88
friscopaint
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Originally Posted by tpepper70 View Post
This is where I'd retire to, or just move to, if I could. Love this area and most are hard core conservative. Good luck to ya.
Everyone, except some visitors, were conservative that we met
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Old 04-29-2021, 04:22 PM   #89
camoclad
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Originally Posted by BuckSmasher View Post
Dave Ramsey guy I am guessing?

It is not flat out insane. Perhaps you do not understand the math behind it, but he is not wrong. Having a large portion of your net worth parked in your home inaccessible to you, like having it paid off, is detrimental to wealth accumulation. Sometimes folks do it because of their own risk aversion.

I am not the guy that will argue for constantly leveraging your home just as hard as possible, but without leverage of some kind, one can not escape the rat race, period.

If you are shaky on the math, and we can discuss without 'flaming' on a discussion forum I can show you how its not 'insane'.
Truth. Well said sir.

I'm starting to finally after all these years grasp the idea of real estate loans as a hedge against inflation and mortgage intrest to offset taxes. I'm in the baby stages though.
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Old 04-29-2021, 04:31 PM   #90
sharpstick35
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we vote down every school bond and most other large ones they try to pass. they then hold closed city counsel meetings and pass bloated budgets anyway. this last election cycle the mayors term was up and he was running for city counsel and they all got voted out. local swamps need to be drained also.
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Old 04-29-2021, 04:40 PM   #91
Budman68
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$10K plus here in Blanco Co. This was supposed to be my retirement home, not looking that way now.
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Old 04-29-2021, 04:53 PM   #92
S-3 Ranch
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Originally Posted by sharpstick35 View Post
we vote down every school bond and most other large ones they try to pass. they then hold closed city counsel meetings and pass bloated budgets anyway. this last election cycle the mayors term was up and he was running for city counsel and they all got voted out. local swamps need to be drained also.
Agreed, lots of wonky stuff boards , commissioners, a city council
Passed during closed meetings during CV19 lock down
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Old 04-29-2021, 05:11 PM   #93
CaptainDave
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Originally Posted by sharpstick35 View Post
we vote down every school bond and most other large ones they try to pass. they then hold closed city counsel meetings and pass bloated budgets anyway. this last election cycle the mayors term was up and he was running for city counsel and they all got voted out. local swamps need to be drained also.
What I dislike the most on school bonds is the "shady" tactics used to get them to eventually pass.

Many bonds actually get voted down the first go round, only to be repackaged on a later date. It's like, people can't stomach all the money going to a football stadium, so the bond fails. Then the bond is repackaged with a few other things like added security for the schools, and it's set back up for a vote. They will do this multiple times in attempt to get them to pass.

Another trick these school districts do is hold the bond vote outside of the standard election cycle and only publicize it enough to meet the minimum requirements. This pulls the number of actual voters way down and the districts at the same time are blasting away all the positive bond information to the teachers and parents of students. Heck, I've even seen where the bond vote was held the same week as the districts "open house" and the schools conveniently had voting machines on-site at the schools for parents to vote.
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Old 04-29-2021, 07:08 PM   #94
friscopaint
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62 acres down road from me with old house and ok barn. All Bermuda $1.6 million asking price......its getting nuts
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