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Post by t-bob on Dec 5, 2006 5:14:34 GMT -5
Due to a property sale, I am a cash millionaire! Not for long. Later today, I'll be paying off a second mortgage on another property, so millionaire status will last about 2 hours. Still sweet though!
Edit: If this thread offends anyone, I apologise. I am not bragging. I know that many of us here often have financial struggles, including myself. In fact, 3 years ago I almost lost my house due to cash flow problems. I was just so amazed that this event has come to pass, I just had to post it here.
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Post by paulschlimm on Dec 5, 2006 5:16:47 GMT -5
Do you have any daughters between the ages of 35 and 40 who aren't doing anything and wouldn't mind if I kept my current wife and kids? All I want is a cut. Paul
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Post by andrewg on Dec 5, 2006 6:01:22 GMT -5
Think of the needy at this time of year. I really need a Gibson CJ165.
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Post by t-bob on Dec 5, 2006 6:16:42 GMT -5
I ain't touching the principal that remains after paying off the 2nd! Not quite enough to indulge all my "X"ASes, but a good start. Plus I'll have college to pay for soon.
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Post by sekhmet on Dec 5, 2006 11:14:29 GMT -5
Congrats on your good fortune Tequila! It really is a good thing to have enough money.
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Post by j on Dec 5, 2006 11:20:43 GMT -5
Man, I appreciate that. You're really too kind. Speaking of millionaire, I met this guy a couple of weeks ago (he goes to MTSU, good news for the school's PR). GF
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Post by majorminor on Dec 5, 2006 12:03:27 GMT -5
Let us know if your hand shakes when you sign the check....cool deal. Gotta love Cal real estate.
Mm
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Post by Deleted on Dec 5, 2006 12:08:58 GMT -5
Back to the dog house for you buddy
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Post by AlanC on Dec 5, 2006 12:26:12 GMT -5
From watching "House Hunters" on HGTV with Faithful Wife: 1 Million in California buy a 3 Bdrm 2 Bath 30 year old Ranch. (Same hse in Picayune >140K)
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Post by roylundelius on Dec 5, 2006 12:30:17 GMT -5
Now you can sing Pink Floyd's, Money with conviction.
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Post by t-bob on Dec 5, 2006 12:52:57 GMT -5
From watching "House Hunters" on HGTV with Faithful Wife: 1 Million in California buy a 3 Bdrm 2 Bath 30 year old Ranch. (Same hse in Picayune >140K) 2 years ago, $1,025,000 got me a 4 BR, 2 BA fixer. $300,000 later, I have a 4 BR, 3 BA, 2 kitchen worth $1,750,000. It's nutty out here.
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Post by roylundelius on Dec 5, 2006 12:59:08 GMT -5
Man, that would run about 350,000 here in my area and this area is one of the fastest developing.
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Post by AlanC on Dec 5, 2006 13:09:17 GMT -5
Are people just paying the interest hoping the market doesn't crash? I don't see how any working stiff can pay P&I on 1.5 mil.
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Post by t-bob on Dec 5, 2006 13:16:26 GMT -5
I have a 5 yr fixed ARM, and will sell or move before it adjusts. And only 600K is financed, so it's a doable loan
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Post by timfarney on Dec 5, 2006 14:46:12 GMT -5
Enjoy it while it lasts, Bob.
Tim
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Post by majorminor on Dec 5, 2006 15:13:00 GMT -5
Bob - are you tempted to just come home with duffel bag full of money and roll around in it for a bit?
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Post by Deleted on Dec 5, 2006 15:31:18 GMT -5
Remember me if you are my Secret Santa......
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Post by Supertramp78 on Dec 5, 2006 15:43:00 GMT -5
amazing. my house is 4 br, 2.5 bath two story and it only cost $149K and I don't have to worry about it moving a few feet while I'm at work!
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Post by Cornflake on Dec 5, 2006 16:26:34 GMT -5
Our house has almost quadrupled in value since we bought it in 1987. A significant reason for that is that lots of Californians who sell their homes move to Arizona where they can get cheaper housing and pocket the difference. The effect has been to drive up our housing prices. That's fine for me but it's hard on young families who are getting priced out of the housing market.
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Post by majorminor on Dec 5, 2006 16:44:57 GMT -5
The market value for my place has doubled in 5 years. Sometimes I get all warm and fuzzy about the equity until I start looking around with what I could buy if I cashed out - 'bout the same thing I'm in. I'm hoping that when the time comes to cash out I can still afford get a silver Airstream and a lot on the Mojave Desert somewhere.
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