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  1. Sounds more like the equivalent of dealing drugs on facebook. If rapping about crime got you locked up most rappers would be in jail.
  2. Its not because they can't afford groceries and necessities either. If its not because they're blowing money on shopping, entertainment etc. its because they spend too much on housing and/or their car. It sure gets so tiring hearing the Americans have it so tough, wages don't keep up with expenses spiel. Yet I was once one of the low income people they're talking about and I had no problem paying my bills and saving money because I rented the cheapest apartment I could and drove an old beater. While I watched my low-income peers spend themselves into a cycle of forever poor.
  3. When I was getting my shit together after using dope for years I bought this non running rust bucket mess of a car for $100. Got it running for another $50, loved that little car, drove it all over with obvious pull me over no exhaust and such. I was on felony probation but wasn't up to no good any more so didn't think anything of it. After 6 months of driving it I decided to gut the nasty interior, what do I find but multiple needles, spoons and a crack pipe hidden under the carpet under the seats. Facing a year in prison and all I would of had is the I swear officer they're not mine. Got lucky though and never did get pulled over in that thing.
  4. Never they have to have a car you know. The real kicker is they could head to a public repo auction and buy a running car for one months payment on their ridiculous subprime loan. To each their own though if people didn't make bad choices there wouldn't be dirt cheap cars at the repo auction.
  5. Might be time to go buy a pick up and a hidden wheel lift.
  6. oldblue

    First Timer Looking For Direction

    That should be budget constrained buyer + fixer upper + indecisive homeowner = The money pit I am the contractor and watch people go cheap just to have to redo stuff the right way. Then they slow down the job because they can't pick stuff out, then the job needs to change because of what they finally decide on, blows budgets every time. On top of it they like to ignore stuff that doesn't make the house pretty. Maam you really should budget for replacing that old furnace. No its working were going to leave it, we need the money for granite counter tops. 2 months later OMG!!! my heats out I don't have any money left please help me!!!
  7. What about emergency fund and savings? I say pay off the loan, sell the car private party and buy a 5k car, saving the rest for a rainy day.
  8. oldblue

    91 Day CLI Question

    Yeah I got my first 3x after 60 days on mine. Honestly I don't remember waiting 6 months for my next 3x but I probably did. I know I was disappointed at the ridiculously low limit at first but the two 3x bumps got the limit right between my other two business cards pretty quick. What really got me though was when I was at 3k Amex kept offering me 25k fixed loans at 6%, as soon as my card got up to 23k those offers disappeared. I'd sacrifice my limit to have that fixed offer back on the table.
  9. oldblue

    Escrow dropped by $100/month

    Keep in mind escrow will probably go back up and they can ask for the difference but usually don't and just roll it into the escrow payment for next year. Which paying the amount they were short by and the new required amount could result in quite the jump next year. My escrow started out at $235/month, the next year they say they didn't take enough goes up $20, the year after that they say they took too much it drops $35 and they cut me a check for like $300, now this year they didn't take enough again and it jumped $80/month. I'm assuming I'll get a check at the end of the year again.
  10. oldblue

    Need car but have bad credit? Help

    Not necessarily but most the time its means its sat for extended periods in its life or got driven back and forth to church by grandma. Which doesn't give the motor enough time to warm up and burn the condensation out of the motor oil. Then all the ball joints, tie rods which should of went bad around 100k are all dry rotted and ready to break at 50k. As someone that works on my own car if it breaks, I'll take over 100k all day long.
  11. oldblue

    Need car but have bad credit? Help

    Yeah thats overpriced when you get that old low mileage is actually bad. Gaskets and such start dry rotting from not being used. You could get the same car with 100k+ here for $1500 and still have plenty of life left. Plus the great thing about old cars is there are plenty in the junk yards for you to scavenge cheap parts out of if they do break down.
  12. Exactly business is competitive so let the stupid sink as fast as they want to. Thats a whole different type of loan, venture capitalists aren't for starting a flower shop. You better have a lawyer involved so your idea doesn't get stolen. Plenty of scams on that side of the coin too.
  13. Thats why smart business people gets lines of credit when times are good. The terms are so ridiculous they scream scam regardless. No sane business person could look at paying $900/day at 350% interest and say oh man I'm getting a great deal this is what I need to save my business.
  14. You only pay taxes on the profit. Flipping houses is ordinary income not capital gains making it subject to self employment tax also. You'd still walk away with money but uncle sam gets their cut. Hopefully you kept detailed records of all expenses. If you rent the house out for a year or two you could sell later and pay capital gains. Of which your ordinary income plus the capital gains up to 38k is in the 0% bracket so you'd pay 0% on 8k of it and 15% on the rest at 30k/year regular income. This would also keep you from paying 15.3% in self employment tax. If you move in for 2 years you could avoid taxes completely.

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