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IDGI, if he went all in shorting then surely the falling price is good for him?
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Jul 29, 2018 12:11
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Darkrenown posted:IDGI, if he went all in shorting then surely the falling price is good for him? The tweet is acting on advice from Elon Musk, so I think by 'explode' he means collapse rather than skyrocket. As such he went all in on calls instead of puts. Unless Musk would actually advise shorting stock in his own company. That's some 11th-dimensional chess if so.
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Jul 29, 2018 12:33
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Oh, yeah, I read explode as going well.
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Jul 29, 2018 13:10
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why would you short/put when calls have the most potential profit duh
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Jul 29, 2018 16:54
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We Bought a House With Our Friends Who Are Now Long-Term Unemployed - How Can We Best Help Them Prepare for When We Move Out? https://www.reddit.com/r/personalfinance/comments/92vpq6/we_bought_a_house_with_our_friends_who_are_now/ quote:We live in the UK, for reference.
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Jul 29, 2018 17:51
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Ah ha ah ah ah ha h aha aaa h h ha ha NEVER buy a property with someone unless you're married to them Or maybe a parent if you're going to inherit it outright
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Jul 29, 2018 18:04
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What is it with people and buying property together with friends, roommates, or not quite as bad but still risky, with their fiance? I'll want to shoot myself if we wind up with another rent vs buy derail, but is it the idea that they can save on rent, live with their friends, and make money on it? I have never seen a success story come from that scenario, only either pipe dream ideas or nightmare situations trying to get out of it. A friend of mine is looking to sell his home (only bought a couple years ago, sunk lots of money into, will walk away with not much) and his long term girlfriend doesn't want to rent- she asked to be put on the deed for the next house, and says she'll buy him a new car for that haha. I advised against it and said not to share ownership until they get married.
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Jul 29, 2018 18:15
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Moneyball posted:What is it with people and buying property together with friends, roommates, or not quite as bad but still risky, with their fiance? A lot easier to get that down payment money with multiple people! I just don't know how people handwave away the risk that their business partner will just stop making payments and still reap all the benefits. Mr Money Mustache had an excellent blog entry on his one failed real estate venture with a friend, worth reading.
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Jul 29, 2018 18:19
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Moneyball posted:What is it with people and buying property together with friends, roommates, or not quite as bad but still risky, with their fiance? Enchanted Hat posted:Not even shares, they went all-in on options. I don't even like to buy a car from a car salesman.
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Jul 29, 2018 18:22
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GoGoGadgetChris posted:A lot easier to get that down payment money with multiple people! https://www.mrmoneymustache.com/2012/02/01/mr-money-mustaches-big-mistake/ loving hell
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Jul 29, 2018 19:56
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Oh boy somebody brought up MMM
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Jul 29, 2018 19:59
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That must be a sincere Oh Boy on account of he owns!!
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Jul 29, 2018 20:00
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I like him a lot. But I don't take everything he says seriously because he gets a bit obnoxious and preachy. Same with Dave Ramsey. Well intentioned, not always right. But bring either of them up and you'll see.
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Jul 29, 2018 20:03
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It's funny to see people hate on MMM like he's the bridge too far. It's a bit, like any other play at celebrity.
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Jul 29, 2018 21:00
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Unfortunately for him, it's an annoying bit that makes it hard to take him seriously. But that doesn't matter as long as his target audience eats it up, I guess.
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Jul 29, 2018 21:04
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And the criticism he gets for Going Too Far tends to come from people who could stand to take a lesson Like that one friend who always whines "You take healthy eating too seriously!!" while stuffing another double bacon cheeseburger down the gullet
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Jul 29, 2018 21:05
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His frugality stuff aside, that was a pretty standard story of overtrusting a friend, not understanding how a specific sector of business is done, running into trouble / bad luck and being unable to weather it and then selling what you can at a loss to put it behind you.
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Jul 29, 2018 21:06
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The only people I've seen do the "buy a house with roommates" thing were people who were pretty much just trying to have their friends pay for their house. One dude I know bought a 5 bedroom, newly built house as a college student 30 minutes across town from the university (with no good public transportation). He had 4 friends there living as roommates who were essentially covering the entire mortgage and then their split of the bills. Was probably a pretty sweet arrangement for him for the 6 months it was running smoothly, and then everyone started to move out for jobs or school or whatever. This all happened in 2006 though, and I just looked up the neighborhood. New builds were going for ~$300k, and the most recent sales in the neighborhood now are in the $230k range.
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Jul 29, 2018 21:12
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There's a big difference between an individual buying a house and renting out rooms to their friends, and several friends buying a house together with all their names on the paperwork. While the social dynamics of each may be weird, the latter is a terrible loving decision for so many more reasons.
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Jul 29, 2018 21:24
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Yeah buying it yourself and paying the mortgage with roommates is (mostly) GWM. It's like the "buy a house near your kid's university and save room and board/get other people to pay for it" thing that future guillotine victims do.
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Jul 29, 2018 21:27
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Moneyball posted:Same with Dave Ramsey. Well intentioned, not always right. I've always taken Dave Ramsey as the AA/NA of debt. I bet he's helped a TON of people who literally can not control their debt spending, which seems to be a lot of people, but going on the whole 12 steps where you will always be a drunk so there is never any possible way for you to consume debt responsibly. Once you start looking at that advice in the light of actual adults with self control and the ability to reason and delay gratification it quickly turns into a mess of suboptimal but still largely fine advice. I also don't care for the religious interjection, but meh.....I get it. What I really don't care for is the blatant marketing preying on his audience. Moneyball posted:Yeah buying it yourself and paying the mortgage with roommates is (mostly) GWM. Did you mean to type "house hacking"? 
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Jul 29, 2018 22:07
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I have seen some customers of mine do the "buy property together" thing successfully successfully with a 4plex and a couple/ single person in each unit. This was in Portland just as things were getting unaffordable but not insane yet, and they had already done the same thing in a different city with different friends before. I think the keys to their success were a written agreement specifying how someone gets out, and the fact that it was a multi-unit property. I guess it was almost a co-op among friends sort of deal, but I don't know much about co-op apartments because we don't generally have them here and the bank I work for does not underwrite loans for them.
therobit fucked around with this message at 22:48 on Jul 29, 2018 |
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Jul 29, 2018 22:46
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GoGoGadgetChris posted:And the criticism he gets for Going Too Far tends to come from people who could stand to take a lesson He lives in the same town I do. It’s expensive here. He could live in a McMansion in most of the country with a luxury car on the same total budget that he’s spending here. He’s not actually interested in frugality, he’s obsessed with the image of frugality. He also says that people should find a home and two jobs close enough together that both people can bike to their jobs, which is A) unrealistic and B) BWM when you're limiting your job opportunities and pay to what the two of you can find close to each other. I didn't care about him at all until someone in my thread tried to use an article he wrote as an argument for why I shouldn't move where I did. 22 Eargesplitten fucked around with this message at 23:22 on Jul 29, 2018 |
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Jul 29, 2018 23:19
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I think you can be a Frugal Person even if you live in a high cost of living area. I'd swear he lived in one of the less desirable suburbs of Denver... doesn't he? I think I recall a blog entry where he discussed his choice to live in a much cheaper suburb where he could still bike to the trendy spots.
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Jul 29, 2018 23:23
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GoGoGadgetChris posted:I think you can be a Frugal Person even if you live in a high cost of living area. He lives in Longmont. Which manages to be neither cheap nor hip. It's where Boulderite's who are priced out of Boulder live. Parts of it are kind of walkable/bikabke, but it comes at a hefty price tag. And there is no such thing as a truly cheap suburb of Denver. Even our cheapest burbs, like Federal Heights and Commerce City, will run you over 200K for a home (and you're not going to be doing anything by bike there).
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Jul 29, 2018 23:47
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I think he moved there a decade ago back when things were "reasonably" priced. No idea where you're supposed to move these days. Pittsburgh? Cleveland? Detroit? Live out of a camper van in the parking lot? Wait for another bubble crash and buy at the dip?
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Jul 29, 2018 23:49
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Bhodi posted:No idea where you're supposed to move these days. Pittsburgh? Cleveland? Detroit? Live out of a camper van in the parking lot? Wait for another bubble crash and buy at the dip? The answer itc will never not be Des Moines
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Jul 30, 2018 00:19
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blackmet posted:He lives in Longmont. Which manages to be neither cheap nor hip. It's where Boulderite's who are priced out of Boulder live. Parts of it are kind of walkable/bikabke, but it comes at a hefty price tag. Yeah, Longmont is cheap relative to Boulder, but that's about it. CO costs are skyrocketing due to Bay Area money moving into the growing tech sector, which includes companies like Twitter and Google. I guess if he moved 10 years ago Longmont was cheaper, gentrification hit hard. But it's still expensive. Basically half again as expensive as thread favorite Des Moines. It's a 121 on Sperling's Cost of Living index, although CoL indices seem to be all over the place as far as numbers go. Slightly cheaper than Denver proper, but only about 5%.
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Jul 30, 2018 00:29
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Yeah but Des Moines and Omaha are the home of that secret child sex trafficking ring so they (the cities) can get hosed
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Jul 30, 2018 00:32
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Do people who are still managing to crawl themselves out of massive student loan debt but recently managed to get themselves a job getting paid over the 100,000 limit still in danger of the guillotine?
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Jul 30, 2018 00:42
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Well it depends on whether you consider 100,000 to be a lot 
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Jul 30, 2018 00:54
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Moneyball posted:Well it depends on whether you consider 100,000 to be a lot mods
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Jul 30, 2018 01:23
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Moneyball posted:Well it depends on whether you consider 100,000 to be a lot Anybody who makes a dollar more than me is a rich capitalist pigdog that needs the guillotine. Anyone who makes a dollar less is a low-skill motherfucker who needs to bootstrap the gently caress up.
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Jul 30, 2018 02:00
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I did the 'roommates co-signing on a house thing', but in my defense I was 19 and it was a $40k HUD home. It still turned out real bad. Don't do it kids. Google street view shows it still standing. Not seen, the trailer next door used by street walkers or the drug dealers across the street. Also, wet rats crawling out of the toilet. 
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Jul 30, 2018 02:35
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My cousins fiance bought and apartment with two other friends, its all about getting on the property ladder when its way unaffordable. They got out before the market turned and think they broke even, maybe, although not really the crowd to account for all the costs. All in all, a very lucky conclusion to a bad idea.
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Jul 30, 2018 09:17
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Factor Mystic posted:The answer itc will never not be Des Moines Des Moines sucks. Even Walgreens was closed on Saturday.
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Jul 30, 2018 10:39
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boop the snoot posted:Des Moines sucks. When you ask people what's good about Des Moines people from there will invariably mention that Forbes called it the best city for young professionals lmao
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Jul 30, 2018 13:45
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Factor Mystic posted:The answer itc will never not be Des Moines All the mid west cities are pretty cheap outside of Chicago. It wasn’t the reason I moved, but moving from east coast the the mid west has been a noticeable change in cost of living. RIP beaches though.
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Jul 30, 2018 14:20
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Duckman2008 posted:All the mid west cities are pretty cheap outside of Chicago. It wasn’t the reason I moved, but moving from east coast the the mid west has been a noticeable change in cost of living. RIP beaches though.
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Jul 30, 2018 15:00
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Duckman2008 posted:All the mid west cities are pretty cheap outside of Chicago. It wasn’t the reason I moved, but moving from east coast the the mid west has been a noticeable change in cost of living. RIP beaches though. Beaches exist on the lakes, I miss the ocean tho which I think is what you meant
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Jul 30, 2018 15:02
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