Can’t wait to buy my first home once this housing crisis hits full swing! Pay her off in 15 years and bam- rental income

Good luck timing the market correction

Never heard of her...had to look her name up. Curious what her approach is. Is she a team player?

These low low rates will surely help. Plus I don’t have to put any deposit down or pay PMI. And I can get welfare from the govt for paying my mortgage? Hell yea

a) paying off your house is pointless if you plan on transitioning into rentals. you're going to be leveraging debt to purchase more properties anyway, because while 1 property is nice, 2 is nicer, 3 is even better, etc, etc. waiting 15 years to start renting is less ideal than just acquiring multiple properties over the 15 years. and the cash flow you're pouring into your house is just wasting time before you can buy your next property. if you keep your equity in the 40-60% range, you can virtually avoid most rental risks because you can cash out refi or heloc enough money out in hard times. 100% equity is just pointless imo

b) just buy. waiting for a crisis or something to drop the market is just a waste of time. if the value drops any %, it doesn't matter until you try to sell it. if you're going to rent it, presumably you will sell it at a much later date when most, or all, of the mortgage is gone.

Timing market corrections are easy. Like how everyone knew the market was going to tank during election week due to the crazy uncertainty. Smart person would've sold all their positions the week prior cause it was so obvious.

Next obvious one is in January. We will see a 10% correction across the board. EZ.

I knew the market would tank in 2016 if Trump got elected also. I knew it and I shorted everything now I play 100nl on global poker

We had some foggy window issues a few years ago and decided it was just time to replace instead. Did most of the lower level and a few upstairs. Think it was about ~$12K all told iirc. Got professionals to do it cuz I don't have the know how / energy and didn't want to risk doing it wrong / creating leaks / etc.

Currently have a leak in our ensuite shower that is leaking into my manroom below. Cut an access hole to investigate and after some trial & error / YouTube videos / etc. decided it was beyond me plus didn't want to **** up plumbing to cause more leaks. Hired guy should have it done today and it's totally worth it for me.


A huge payoff is when you reach mortgage free, which I did like ~5 years ago. Yeah there's property taxes and such but it's pretty minimal compared to what you'd spend on rent. Regarding maintenance, do what you want (I semi-enjoy working on various backyard projects and light yard duty) and otherwise get someone do to the stuff you don't want to do. The endgame of living a huge percentage of your life mortgage free is when you really start printing the money, imo.

But each to their own, ldo.

Gprintingmoney,althoughtoonittytospenditonanything G

Property taxes on my personal residence are only like $18k/yr. Not bad.

I listened to this and was wondering if you'd heard of her also. She's a hole-carder, sounds like she did a variety of things but mainly was trying to find games/dealers who were exposing cards to get her edge. Worked with a team and solo.

She played poker too at one point. Sounded like a straight donk where that is concerned but she only played when it was super easy in the 00s. I've never been involved in advantage play table games so it's entirely possible she actually crushed that.

@ DC

I'm assuming you mean $1.8K? That's fantastic, I'm more than twice that (and assuming it will get much worse in the near future to make up for Covid implementation costs).

GcluelesspropertytaxnoobG

The 21 world is very small. I am pals with the hole carding man. He won an absolute shitload in the 90's early 2000's. The level of heat that you get from doing that is really really bad when you are a known hole carder.

I tend to take all of these claims of making mirrions with a grain of salt. Nearly every one that I know does their absolute best to keep a low profile with regards to their 21 play. The ones that dont are either trying to do their best to sell something or they are completely done with the game and are once again trying to sell something like books.

As I have said countless times regarding blackjack - you can have the gold, you can have the glory, but you cannnot have both

No, I meant $18,000 and yes it is fantastic. I like it a lot.

TX property taxes are high but no income tax

I really loved the MGM game formats back in the day.

Double deck face up and 6 decks with all the good rules and surrender.

So you're paying about the equivalent of rent in property taxes?

There's no income tax in Texas? So everything is paid for by the home owners? Wow, you guys are weird. So obviously a huge overall benefit to the working man to own a home. But seems to me a wash for the retired guy, unless I'm missing something?

GcluelesspaythemanhismoniesnoobG

There was once a man named Millionaire Tim who absolutely knew that oil was going to be above $100 a barrel and made a huge option bet. Hes now known as Thousandaire Tim.

@spyu - Not to barg but my organization was the reason why the pendulum swung soooooo far in vegas in terms of ackshun tolerance and game quality. Simply put we destroyed them in unprecedented fashion.

Rent would be more like $72,000/year.

How much of your current net worth is due to blackjack versus poker? Presumably you've been sharp with your overall investments stemming from your time at Goldman but I'm sure there has been plenty of reckless recreating in between!

Amphibian Investments?

Yeah 21 no fun no more after you guys came through and skinned the sheep.

I am quite good palz with Sem D. I taught him how to hangglide. I was a major investor in shadow along with Andy B and a few others. MIT ackshun was p-nuts compared to the stuff we did

That make sense, forgot it would be for a whole house.

GcluelessingeneralnoobG

Does that tax cover local rates and services etc or is it just a pure cash grab from the gubmint?

Who gets it...state or federal?

Do you get tax relief on mortgage payments?

I’m only half way through the podcast but cushlash has summed it up pretty well

Pod is a series called Gamblers on the Ringer