1st Gen Lunchtable Thread - General Discussion

Uhauls are like smokers

Meet some that are 20 years old and look like a day shy from 50

 

Someone told me ask week that if you don't plan on staying in a house for over 10 years you might as well rent or you'll just be paying interest


Hit me hard haha

 

I don't agree with that statement.

 

Where does someone get one of these, one side normal, one side reverse threads?

 

Our last payment was 90% interest haha

 

That's how annual percentage rate works - based off the principal for that year.

I'll add to my statement; if you live there for 1 year or 5 years, you've got your mortgage and pay on it.

You move out, rent a place, and rent out your house. Been renting out my house since I moved to the apartment and now we've got a second house.

You now have multiple assets, and if you move somewhere cheaper, can rent out said asset and make supplemental income.

 

@Sperrunner

Only left handed threads I've seen are those for acetylene.

 

He did get back to me today and said he’s still trying to figure out the misfires. He has a really good reputation, so we’ll see what happens I guess. It got me around for a couple years, so I can’t complain too much if it has shit the bed.

 

Well I guess that makes sense if you don't understand equity.

I looked at the cost of a house that is below average here, crunched the numbers and the mortgage would be 67% of my net income. So it's not like I have a fucking choice what a time to be alive. Rather have disposable income than a house these days.

 

It does not seem right that even an engineer can’t afford an average house in Idaho. Who’s even buying them? Most I see on the market have been sitting for many months.

 

Oh I know, it just sucks to look at

nah if I was you I would be renting an apartment also, or condo or something. Unless interest rates or housing prices become realistic again.

Yea propane is lefty too, just trying to figure out how to get everything tight on this compressor

 

People that work remotely for companies paying livable wages where they are based, thanks Covid

 

Makes sense though; their point was "you're gonna be there awhile"

 

Doesn't work when rent is half the mortgage. The mortgage on the house I rent for 2k would literally be $4,000 based on todays prices and rates
This is a basic 3/2 1200sqft house in suburbia far from any cities downtown

 

Being an engineer these days basically just means you wont be homeless, but don't you dare expect any more than that.

 

Your math is a little off.

You don't buy a house to immediately rent it out unless you planned on a long term investment by having looked into the area for a bit, seeing things develop, thus increasing property values.

For the average person like me, cause I don't have expendable "fuck you" money to throw around, you buy to live in it for awhile.

The house you rent now wasn't just bought yesterday, it's been owned for a few years at least.

With cost of living increasing over the years, I bet their mortgage is cheaper than your rent. $4k though doesn't seem right as I've looked into Arizona for a good minute. My mom wants me to sign for a house for her out there when she retires.

Anyway yeah you buy a house, live in it for some years, refinance if you have a high rate for buying at a stupid time, and chill on it for awhile.

Move out and rent for less, while you rent out your house at today's rates. You'll have a little extra you can set aside each month to cover any expenses you're liable to cover as a landlord. I put a new oven, fridge, sink, floors, and even a water heater before I moved out so I know I don't have to pay for shit for a good minute there.

 

What about going down to some hose and using those kinds of fittings to do this, for like 1"

 

I was curious, what uses left handed threads on your setup?

Not like I can help, just think your project is bitchin

 

My point just being when the mortgage is anywhere close to as high above the rent price as it is in my case, the advantage from building equity is at least a decade from fruition.

That 2k a month saved vs the mortgage does a hell of a lot to build your net worth vs the $200 a month that's actually applied to your principle.

Of course theres property appreciation, and rent increases that prevent it from being simply calculated over a long time span. But right now, its very difficult to warrant buying anything.

 

Just trying to figure out how to tighten everything and to the already bolted tank