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BGOL NY/NJ Realty: Questions on RENTING A House

playahaitian

playahaitian

Rising Star
Certified Pussy Poster
I just spoke to some people who are renting homes in NY/NJ area.

And many of the homes are actually valued at BELOW 500K.

I always thought renting houses was a much more popular practice down south...North Carolina, Texas, Georgia, etc.

But I am hearing that it is becoming increasing popular on the East Coast because families do not want to lose their homes and find renting it out to be a viable option and financially beneficial.

What are your views on this? Positive vs. Negatives.
 
(0_0)..l.. finger said:
:dunno: Soon when I get my settlement money, I'm buying a Ryan's home down south and I paying that shit off with one payment...


http://www.ryanhomes.com/
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that's what I mean...

I have read about ALL the benefits of home OWNERSHIP...why would you rent.

TRUST, I know how much rent is in NY, Boston, NJ etc.

but still...I feel like renting benefits the home owner entirely and you are STILL paying utilities right?
 
why rent? because you need 20% down and in good area's of ny and nj that will be 100k.
 
Dr. Truth said:
why rent? because you need 20% down and in good area's of ny and nj that will be 100k.
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Truth u are 100% correct.

But I think the benefits of renting an apt. are better?

Would it work JUST LIKE an apt.?

I was just surprised cause some of these homes especially in BK are old, brick and in good areas.

I just wonder other then an alternative to buying a home out right due to finances what is the benefit?
 
depending on the area renting a home gets you some yard space and you don't hear neighbors above or below etc. apartments suck for the noise factor. also fire alarms and shit go off from time to time at odd late ass hours. no drive way and parking can be extra. I had an apartment in spanish Harlem and the fucking noise drove me the fuck out. this was before I came out to cali. I've owned and rented and I honestly don't see much of a difference. my pops owns his childhood home in queens after they moved from lefrak. I have a house if I decide to move back east. No rush to buy again.
 
Dr. Truth said:
depending on the area renting a home gets you some yard space and you don't hear neighbors above or below etc. apartments suck for the noise factor. also fire alarms and shit go off from time to time at odd late ass hours. no drive way and parking can be extra. I had an apartment in spanish Harlem and the fucking noise drove me the fuck out. this was before I came out to cali. I've owned and rented and I honestly don't see much of a difference. my pops owns his childhood home in queens after they moved from lefrak. I have a house if I decide to move back east. No rush to buy again.
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Honestly, MANY realtors have offered me the option instead of renting and I've been very reluctant.

Family members kept shitting on the idea.

You have made me reconsider.

gonna do some more research. Just wanted to know if any of the fam are currently renting homes and wanted the pros/cons.
 
jagu said:
No, you don't need shit down. Get an fha or va loan or a conventional loan that only requires 5 percent down.
You only need 20percent down for investment home.
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Dr Truth either doesn't have credit or has poor credit and that is why he needs 20% down. Credit unions offer zero down when you have a credit rating of 640 and above. FHA loans that require 3.5% down you need like a 580 and above credit score. On top of the credit score a financial place can approve you depending on your income to debt ratio. I hate people when spread false information and don't know jack shit.
 
moblack said:
Dr Truth either doesn't have credit or has poor credit and that is why he needs 20% down. Credit unions offer zero down when you have a credit rating of 640 and above. FHA loans that require 3.5% down you need like a 580 and above credit score. On top of the credit score a financial place can approve you depending on your income to debt ratio. I hate people when spread false information and don't know jack shit.
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Dr. Truth is full of shit that's what he is. Who da fuck puttin down 100k for a house? Told ya nigga's to mass ignore dat bad luck clown. :smh:

EJMm1E.jpg
 
playahaitian said:
Honestly, MANY realtors have offered me the option instead of renting and I've been very reluctant.

Family members kept shitting on the idea.

You have made me reconsider.

gonna do some more research. Just wanted to know if any of the fam are currently renting homes and wanted the pros/cons.
Click to expand...
Yeah follow your own instincts for critical life decisions. Don’t listen to family members and BGOL.
There is a young man on this board who was scared to death about going to law school after reading BGOL failure stories. He did his own homework and he now practices with a nice M&A firm in NY.
 
jagu said:
Yeah follow your own instincts for critical life decisions. Don’t listen to family members and BGOL.
There is a young man on this board who was scared to death about going to law school after reading BGOL failure stories. He did his own homework and he now practices with a nice M&A firm in NY.
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that is outstanding

and simultaneously sad as f*ck that bgol would in any way hinder a young black man's progress.

I got to holla at you I got a few legal questions concerning my daughter who has a blood disorder

peace
 
Last edited:
jagu said:
Yeah follow your own instincts for critical life decisions. Don’t listen to family members and BGOL.
There is a young man on this board who was scared to death about going to law school after reading BGOL failure stories. He did his own homework and he now practices with a nice M&A firm in NY.
Click to expand...

Aint that the truth!! Kats gotta do your own research on anything you want to do and once your comfortable!! Get out there and put your plan in motion!!
 
playahaitian said:
that is outstanding

and simultaneously sad as f*ck that bgol would in any way hinder a young black man's progress.

I got to holla at you I got a few legal questions concerning my daughter who has a blood disorder

peace
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That is hard to believe! Half the niggas live in they moms basements on here. The number 1 thing folks can learn on here is investing. There are a few select brothers on here who have some real knowledge. Just have to cut through the bullshit.
 
moblack said:
That is hard to believe! Half the niggas live in they moms basements on here. The number 1 thing folks can learn on here is investing. There are a few select brothers on here who have some real knowledge. Just have to cut through the bullshit.
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post of the day
 
playahaitian said:
that is outstanding

and simultaneously sad as f*ck that bgol would in any way hinder a young black man's progress.

I got to holla at you I got a few legal questions concerning my daughter who has a blood disorder

peace
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They were not intentionally doing it. It's just the posts about law schools and legal careers are not worth it.

Anyway, it's a true story, the young man pm'd me several times and Gave me his office contact info when he was done. Lol.
Trust me, there are some unbelievably great gentlemen on this board who just choose to be discreet about themselves.
 
jagu said:
They were not intentionally doing it. It's just the posts about law schools and legal careers are not worth it.

Anyway, it's a true story, the young man pm'd me several times and Gave me his office contact info when he was done. Lol.
Trust me, there are some unbelievably great gentlemen on this board who just choose to be discreet about themselves.
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you are included HIGHLY in that number brother...

I have BEEN trying to tell the board of the extraordinary league of gentlemen on this board...

and many of the resources are being squandered

and I have been a party to it myself on occasion

but recently I reminded just how much good is on here.
 
moblack said:
Dr Truth either doesn't have credit or has poor credit and that is why he needs 20% down. Credit unions offer zero down when you have a credit rating of 640 and above. FHA loans that require 3.5% down you need like a 580 and above credit score. On top of the credit score a financial place can approve you depending on your income to debt ratio. I hate people when spread false information and don't know jack shit.
Click to expand...
Then ur mortgage is unaffordable plus pmi
 
What deters me from buying in NJ is the taxes and my lifestyle. I'm single, no kids, mobile lifestyle, etc. I'm getting my ass beat renting ($1800+) compared to my friends down south but Jersey is already underwater and I have a feeling that Murphy is going to have to raise prop taxes even more. I was renting a condo for $1500 from a woman 2 years ago that tried to sell it to me. Bitch was asking $250K for 950 sq. ft. :lol::lol:
 
Jumbodicc said:
What deters me from buying in NJ is the taxes and my lifestyle. I'm single, no kids, mobile lifestyle, etc. I'm getting my ass beat renting ($1800+) compared to my friends down south but Jersey is already underwater and I have a feeling that Murphy is going to have to raise prop taxes even more. I was renting a condo for $1500 from a woman 2 years ago that tried to sell it to me. Bitch was asking $250K for 950 sq. ft. :lol::lol:
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Bitch smokin dat shit askin' for that. :smh:

I3hLRS.jpg
 
Jumbodicc said:
What deters me from buying in NJ is the taxes and my lifestyle. I'm single, no kids, mobile lifestyle, etc. I'm getting my ass beat renting ($1800+) compared to my friends down south but Jersey is already underwater and I have a feeling that Murphy is going to have to raise prop taxes even more. I was renting a condo for $1500 from a woman 2 years ago that tried to sell it to me. Bitch was asking $250K for 950 sq. ft. :lol::lol:
Click to expand...


if you’re paying 1500 a month in rent you should consider buying. When I visited NYC this summer places that size were like 400-500 sq ft near Central Park where I was staying.
 

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