Holy poo interest rates are low right now...

[pantherfan49]

Trucatz look at the Fannie Mae foreclosures. Homepath.com

[pstall]

Trucatz look at the Fannie Mae foreclosures. Homepath.com

i agree, however, use caution as the Govt is going to start pooling these together to large investors(see China and other Bric's) and that could get messy.

[TheSmartGuy]

I just signed a mortgage at 3.75%. I plan to pay it off as early as possible. I can afford the place by myself, but I'm going to have two roommates, so the money from one of them is going into my bank account and the other is getting added to the minimum payment so I can get this thing paid off in 15 years or less.

YO the money you get from renting rooms is INCOME and you got to pay income tax on it my man, You cant just take the cash and spend all of it on whatever you want... we got tax laws.. You can say no way but if one of the renters tells the IRS you will have to pay the back tax and penalties...sorry to bust your dream lol

[pstall]

why do i think smartguy is jim stone?

[Kitten Diver]

YO the money you get from renting rooms is INCOME and you got to pay income tax on it my man, You cant just take the cash and spend all of it on whatever you want... we got tax laws.. You can say no way but if one of the renters tells the IRS you will have to pay the back tax and penalties...sorry to bust your dream lol

Dont listen to this guy^^. Force the dude to pay cash and pay extra on your mortgage. The people at the top didnt get there by playing by the rules. They were just smart enough to not get caught until they got big enough to hire a full time accountant.

[pantherfan49]

why do i think smartguy is jim stone?

not jim stone. first off, jimmy would never say "yo." Second, jimmy likes misspelled words.

[Niner National]

Dont listen to this guy^^. Force the dude to pay cash and pay extra on your mortgage. The people at the top didnt get there by playing by the rules. They were just smart enough to not get caught until they got big enough to hire a full time accountant.

That's the plan. They're friends anyway, I'm not renting to random people.

[Montsta]

Me and my lady saved $150 a month on various utilities a few years back, and dumped it into her student loan ($190/month payment) and paid it off in 18 months or so. We finished that about a year and a half ago and put that $340 extra (plus $200 I got from my $400 car allowance from work), towards our car payment the last 6 months or so. It should be paid off in another year or so, and then I want to take the $540+$340 car payment and put an extra $800 a month toward my mortgage. I don't know anything really about investments or the stock market, so I don't know what other investments I could be making but I am pumped to try and have my house paid off before I'm 40. We both have 401Ks that are doing pretty well, and we both have credit scores of 780 (me) or better (her).

We really want to start having kids and all that but I've seen so many of her friends that are struggling single moms or just can't afford life and I really want to make sure we have zero debt before we go down that road.