Chief
Related Posts
Bowl Leader
Bowl Leader
Should I move to Dallas, Houston, or Austin?
Additional Posts in Advertising
I'll admit I've had my suspicions
Has anyone freelanced using Upwork? Pros/cons?
How many hours have you worked this year?
Drink every time you hear “Papadapolis”
I keep getting hit with humorous juxtapositions.
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Chief
I own 70% of my apartment but have the cash to pay the remaining balance if necessary. However I’d rather keep it liquid as it gives me tax breaks and protects me from unexpected events. Like a layoff during a pandemic. 🤷♀️ The repayments are low so it’s easy to manage. I’ve owned it for 3 years. My age is irrelevant as it’s my second home purchase.
I call my associates “Ass,” so this is game respecting game lmao
I’m 3 months away from being mortgage-free. My place has more than doubled in price since I bought it 15 years ago.
Why not refi for low interest rate and deploy capital elsewhere
Just bought a house at 34, only 29.5 years left to pay it off! 🙈
Chief
Hell no & nowhere near even being able to make a down payment
I imagine within a few years you’ll be in a nice position given your job title.
Just a few months from paying off our house—55 years old. Tip: pay the equivalent of one extra payment a year and you’ll be amazed at how fast you can pay it off.
I’m 46 and own a building in Brooklyn that I live in the top 3 fooors and rent out the lower floor apt on Airbnb. Typically it covers 40 - 70% of the total monthly cost. I put down 800k on 2.25 and and have about a 1.3 left to go. But this building allows me to take some tax write offs on the rental. It allows us to live in a huge space. And since it’s two separate units it gives my family options (rent out both or we could live in the lower unit and get a lot more for the upper).
We liked doing this and having these options so in December we bought a small, brand new home in the Hudson Valley. Once we furnished that we started booking it right away. Pays for itself and then some plus it gives us a getaway place and more living options should we want to change our lifestyle.
All this stuff took work and takes work to do, but it’s fun for me. Airbnb super host 2 years running. Lol
42. Own 4 homes: 1 primary and 3 long term rentals. Primary homes has 60% equity; 1 rental has about 70%; rest have 30%… paying down a mortgage isn’t something we are trying to do as a wealth strategy… living within a reasonable monthly mortgage is primary goal while building wealth in investment properties.
Chief
🙋🏻 - 26
Chief
Zero. My dad is a carpenter and my mom is a middle school teacher. Not exactly a bouyant household financially-speaking. It’s fine, dismiss me all you want. 💋
Definitely don’t have the mortgage paid off. I have 2/3 of the way to go 😭 those CA prices are killer lol
Me but on behalf of my parents. I did it when I was 20, bought Apple shares on margin in 2007 and pulled profit when my old man died.
Romeo done.
2 multiplied by 10 +1 😎
Paid my first house off at 35 while I was in sales (3 years after buying) The house was way below our means. Gave me a lot of freedom to start my own business.
I inherited a house, but then remortgaged, took the cash out, invested it and doubled my money. Just about cover the other mortgage I have on a rental but leaving it invested until I need to pay it off.
I own three condos which are very close to paid and now I have a lot of equity to borrow against and buy more. I’m 29. Bought first at 23.
Yes, mine is paid off. I was 34.
If you're looking for some kind of pattern, I assure you I'm a fluke. A lot of things had to line up, including my then-landlord's son getting arrested yet again while still owing his lawyer money, thus necessitating in liquidating assets for pennies on the dollar because dude could not stay out of trouble if you literally sat him on a chair and told him not to move. He'd find a way to get arrested with enough something on him to get charged with intent to sell.
Fun side note: He had it in his head he'd retire one day in the condo I live in. He'd been banned by the HOA for exactly what I listed above. Plus he evidently got high AF and went on a bender with a replica katana sometime in the '90s. There's scars on the brickwork that back this story up, as well as my awesome next door neighbor who was here for that very, very weird time.
Oh gawd. I’m 42 years old and I just bought my first house. So I’ll be, like, 100 when it’s paid off. This probably won’t make you feel better, but at least you’ll know you’re not alone, or the worst-case scenario.
I own airbnb
I own one stock
I’m 50 and owe a little under 100k on my house currently.
600k house. I still have 350k left to pay off. Hoping to have it completely paid off in the next 10-15 years. Age 36
Same on the mortgage to 529 transfer. As soon as the house is paid off, that same monthly payment is going right into my high schoolers’ college accounts.
42 and about to buy the apartment I have been renting.
Not in any rush to pay it off since rates are so low and I put my capital to work selling options to degenerates.
Pro tip: add a little each month, it works magic against the evil amortization table.