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Passing down wealth to children?

 
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Diane (35) View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Diane (35) Quote  Post ReplyReply Direct Link To This Post Posted: Aug 23 2014 at 11:26am
mmmmhhhhmmmmm yes the pitfalls of having a huge mortgage for decades to come. 
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Diane (35) View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Diane (35) Quote  Post ReplyReply Direct Link To This Post Posted: Aug 23 2014 at 11:45am
I need to buy a piece of land in a certain area in kingston, then build a fuqq shop and count the cash. this is my dream. cause that's one business that cant done in Jamaica, 'member i tell you that. I have the AC hookup already. 
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Yardgirl View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Yardgirl Quote  Post ReplyReply Direct Link To This Post Posted: Aug 23 2014 at 11:57am
Originally posted by Diane (35) Diane (35) wrote:

I need to buy a piece of land in a certain area in kingston, then build a fuqq shop and count the cash. this is my dream. cause that's one business that cant done in Jamaica, 'member i tell you that. I have the AC hookup already. 
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Diane (35) View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Diane (35) Quote  Post ReplyReply Direct Link To This Post Posted: Aug 23 2014 at 12:03pm
say what you want yard! you know its true. i visited my country friend at a newly completed one and he said, omg ive been here 3 hours and the amount of time that buzzer has buzzed persons in its crazy.

Theres a reason a certain "guest house" has four properties and is STEEL looking to buy more land on the same road!

When i build it i shall name it after you!!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ThoughtCouture Quote  Post ReplyReply Direct Link To This Post Posted: Aug 23 2014 at 12:28pm
Originally posted by Diane (35) Diane (35) wrote:


TC one time long ago i thought i read a post from you saying you'd rather rent than own, saying home ownership was a trap and many ppl dont realise it. I swear it but you were in a condo at the time and i believe you're in a house now?

 
 
oh no i'd rather own of course.  i was probably speaking on the mortgage trap many fall for taking out a mortgage on a home worth more than they can really afford.   and as a result, the vast majority NEVER pay any mortgage off ever in life.  anyway, i  never lived in a condo...i was in another house (which i paid too damn much for...rolls eyes).   personally, if i had it to do over again, i'd have skipped my first fancy smancy home and started with something i could pay off completely in less than 5 years...but i own another home now.  i just paid it off earlier this year...hallylooooyah!!!!!!!!!!!! *praise dances and twirls*
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ThoughtCouture View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ThoughtCouture Quote  Post ReplyReply Direct Link To This Post Posted: Aug 23 2014 at 12:29pm
Originally posted by afrokock afrokock wrote:

I think she meant mortgaging
 
yep yep!LOL
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Diane (35) View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Diane (35) Quote  Post ReplyReply Direct Link To This Post Posted: Aug 23 2014 at 12:41pm
Originally posted by ThoughtCouture ThoughtCouture wrote:

Originally posted by afrokock afrokock wrote:

I think she meant mortgaging
 
yep yep!LOL

afro was on it!
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ThoughtCouture View Drop Down
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Post Options Post Options   Thanks (1) Thanks(1)   Quote ThoughtCouture Quote  Post ReplyReply Direct Link To This Post Posted: Aug 23 2014 at 12:47pm

oh and to be clear...i think it's fine to take out a huge mortgage on investment properties...shyt that's is bringing in income and you can do a real p and l on.  but on something that falls at the base of maslows pyramid...i'd personally rather not.

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