leadnow has a plan to cancel rent and mortgage

[MyAlberta]

Originally Posted by Lamburt

20-40 years of debt slavery.

Try walking through the rental investment formula, and see what the ROI is. If it’s so good, shouldn’t you be an investor? Many investment gurus advocate not purchasing a personal property, and using those monies to invest. How do you know that millions of renters aren’t benefiting from thier situation. If your astute, you’ll be saving your down deposit for the upcoming sag in pricing. Be ready if your buying rental, because that window (the one that makes the formula work), is a very tight one indeed. For personal, relax, there’ll be plenty to choose from, until the rates start moving. But then the blame shifts to the banks. Is there ever a time when you may be a factor?

[Lamburt]

Originally Posted by MyAlberta

I know quite a few couples who have leveraged tenancy to help them acquire equity in thier home purchase. Win win.

I would not characterize paying $1000/mo towards someone else's mortgage as a "win" for the tenants. Definitely a win for the landlords, though, if they can find a poor sucker who does that for them.

Originally Posted by Smoky buck

There is still affordable housing available you just need to be flexible on your location

Excuses will not improve your situation and it’s not everyone else’s fault. Your life is what you make it

I am not a boomer and did not have everything handed to me. Spent my teens as a homeless coach surfer and know what it’s like to be hungry. I got ofF my butt and made something of myself. I own 2 houses and actually most of my non boomer friends own their homes.

Please tell me how rough it is out there, how it’s too hard, and everyone is holding you back

Yea, just move to a ghost town in the middle of nowhere with no services or employment and housing can be affordable. Great solution!

[st99]

Originally Posted by Smoky buck

Maybe pick a more affordable location

Or a smaller house. I bought an 1978 800 square foot house (in 2014) simply because I wanted it payed off in less than 10 yrs. Yes my friends brand new 2500 square foot houses look better, but at least me I'm not worried with what's happening right now, we could be in lock down for 6 months, I'll be fine.

It makes me laugh when people complain how things are harder than in 1980. I bet if you'd live like our parents did in the 80's, you'd be a lot richer now. Go the restaurant less than once a month, get rid of the cable, internet and your cell phone. Have only 1 car per family, and don't travel around the world. You'll get rich on an 80's life style.

[hal53]

Originally Posted by Lamburt

I would not characterize paying $1000/mo towards someone else's mortgage as a "win" for the tenants. Definitely a win for the landlords, though, if they can find a poor sucker who does that for them.


Yea, just move to a ghost town in the middle of nowhere with no services or employment and housing can be affordable. Great solution!

Oh well...I guess the best bet for you is to stay right there in your Moms basement then.

[MyAlberta]

Originally Posted by Lamburt

I would not characterize paying $1000/mo towards someone else's mortgage as a "win" for the tenants. Definitely a win for the landlords, though, if they can find a poor sucker who does that for them.


Yea, just move to a ghost town in the middle of nowhere with no services or employment and housing can be affordable. Great solution!

So, why are you on the wrong side of the formula?

[Trochu]

Originally Posted by st99

It makes me laugh when people complain how things are harder than in 1980. I bet if you'd live like our parents did in the 80's, you'd be a lot richer now. Go the restaurant less than once a month, get rid of the cable, internet and your cell phone. Have only 1 car per family, and don't travel around the world. You'll get rich on an 80's life style.

Isn't that the truth though. Nobody want's to live like our parents in the '80's, just complain about how easy they had it. I know lots and lots and lots of people with $800.00 phones, multiple TV's throughout the house, tablets/computers/laptops, Cable/Netflix/Disney Plus, 2+ cars, eat out regularly, bikes/quads/sleds/boats/RV's/etc. When I was a kid, of that list, we had one family computer and internet. That was it. Of course it's easier to afford a house.

[marky_mark]

Originally Posted by hal53

Oh well...I guess the best bet for you is to stay right there in your Moms basement then.

Sitting in the basement waiting for his inheritance

[big zeke]

I hear lots of folks complaining about money yet these same folks don't have a good handle on how they spend theirs and what can be turned off in tight times. Until you have some financial tracker (more than just your credit card bill) you often never see small financial leaks that can be plugged and your money better spent (or maybe even saved).

It's easy to save $0.10 ten times...and then you have a dollar. And a dollar ten times and you have ten and so on and so on.

Starbucks might be more expensive than Tims, Superstore cheaper than Safeway (watch the sales and stock up), renting rarely used tools rather than owning. Mowing your grass rather than paying someone. It all adds up.

BTW, not a fan of calling landlords parasites...they have a lot more at stake than a tenant and that risk deserves a reasonable reward. All they need is 1 month vacant a year and they are sitting at no profit. Their housing investment could drop as easy as it could rise and nobody will bail them out. If you think it's so easy you should try being one.

[darren32]

Originally Posted by st99

It makes me laugh when people complain how things are harder than in 1980. I bet if you'd live like our parents did in the 80's, you'd be a lot richer now. Go the restaurant less than once a month, get rid of the cable, internet and your cell phone. Have only 1 car per family, and don't travel around the world. You'll get rich on an 80's life style.

Really great post and oh so true.

[brendan's dad]

Originally Posted by Lamburt

My position is that landlords are parasites because they do not add any value to the equation, they simply hoard a resource, which causes the price to be inflated, and then sell it to people who can't afford the inflated price. Just like people hoarding toilet paper.

You are right that many tenants hate landlords - precisely because they are parasites looking to get rich quick off the hard work of the tenants - and destroy their properties. This is perfectly natural and expected. For landlords, that's part of the "business" of exploiting people for easy money. They have to do a really good job of picking serfs.

Hey, 1 of my rentals is empty right now, can I pm you an application? You sound like you would make a great tenant.

[58thecat]

Originally Posted by Smoky buck

There is still affordable housing available you just need to be flexible on your location

Excuses will not improve your situation and it’s not everyone else’s fault. Your life is what you make it

I am not a boomer and did not have everything handed to me. Spent my teens as a homeless coach surfer and know what it’s like to be hungry. I got ofF my butt and made something of myself. I own 2 houses and actually most of my non boomer friends own their homes.

Please tell me how rough it is out there, how it’s too hard, and everyone is holding you back

Well said....I knew you'd perk up and put things into perspective.

[58thecat]

I have concluded that Lamburt is a troll folks....tried wrapping my head around the posts....sooner watch my dog figure out which place to take her morning dump.

[Smoky buck]

Originally Posted by Lamburt

I would not characterize paying $1000/mo towards someone else's mortgage as a "win" for the tenants. Definitely a win for the landlords, though, if they can find a poor sucker who does that for them.


Yea, just move to a ghost town in the middle of nowhere with no services or employment and housing can be affordable. Great solution!

Still making excuses

Don’t have to go to a ghost town and I would never suggest moving where there is no employment. Basic services are offered in these communities as well but you may need to travel a hour or 2 to a larger community a few times a year. You clearly need to get out and explore more

You can cry in someone’s basement suite paying rent in the city making an ok wage or you can move somewhere else make the same wage and buy a house or even buy a place and work a camp job

Keep crying and blame everyone else or utilize your options.

In the past I have offered people like you 80k a year jobs in affordable communities when they cry about how tough they have it. Not one maned up to take control of their life and kept crying

Excuses and crying holds you back it doesn’t improve your situation

I will retire early how about you

[Au revoir, Gopher]

Originally Posted by big zeke

I hear lots of folks complaining about money yet these same folks don't have a good handle on how they spend theirs and what can be turned off in tight times. Until you have some financial tracker (more than just your credit card bill) you often never see small financial leaks that can be plugged and your money better spent (or maybe even saved).

It's easy to save $0.10 ten times...and then you have a dollar. And a dollar ten times and you have ten and so on and so on.

Starbucks might be more expensive than Tims, Superstore cheaper than Safeway (watch the sales and stock up), renting rarely used tools rather than owning. Mowing your grass rather than paying someone. It all adds up.

BTW, not a fan of calling landlords parasites...they have a lot more at stake than a tenant and that risk deserves a reasonable reward. All they need is 1 month vacant a year and they are sitting at no profit. Their housing investment could drop as easy as it could rise and nobody will bail them out. If you think it's so easy you should try being one.

Many (many) years ago I started tracking our household finances in Quicken. After a couple months I looked at where our money was going, the single largest category was "Misc. Cash Expense" a.k.a. "we have know idea what we spent the money on". We started collecting all of our receipts and pretty soon the "Misc. Cash Expense" category was seldom used. You have to know where your money is going before you can decide if it is going to a good place.

ARG

[Ken07AOVette]

Originally Posted by st99

It makes me laugh when people complain how things are harder than in 1980. I bet if you'd live like our parents did in the 80's, you'd be a lot richer now. Go the restaurant less than once a month, get rid of the cable, internet and your cell phone. Have only 1 car per family, and don't travel around the world. You'll get rich on an 80's life style.

But that's the way you think when you were born in or after the 80's lol

[MyAlberta]

Originally Posted by Au revoir, Gopher

Many (many) years ago I started tracking our household finances in Quicken. After a couple months I looked at where our money was going, the single largest category was "Misc. Cash Expense" a.k.a. "we have know idea what we spent the money on". We started collecting all of our receipts and pretty soon the "Misc. Cash Expense" category was seldom used. You have to know where your money is going before you can decide if it is going to a good place.

ARG

I also tracked my expenses for 30 years. Housing and groceries were tops. Best investment for me was education. Charting my income clearly shows jumps in income were aligned with certifications.

[brendan's dad]

I am going to go out on a limb and guess Lamburt is BigJohn87 (recently banned)

He wants guaranteed income and free rent..... sounds like a real winner.

[Smoky buck]

Originally Posted by Ken07AOVette

But that's what happens when you were born in or after the 80's lol

Hey now some of us born in the 80’s on get it because we were not raised by by parents who were afraid to be too hard on us.

Some of you old buggers needed to beat your kids more so I would not be telling them they are embarrassing lazy idiots

[Lamburt]

Originally Posted by zabbo

This is going to be fun! From your join date and number of posts it would appear you are a troll! Anyway, you are correct. Price of real estate has increased dramatically over time. Waaaay back in 1968 my Dad had a 20 K mortgage on a house in small town Alberta. That summer we moved to the big city of Calgary. His new mortgage was 40 K. I can still remember him crapping his pants. For several years after I left home I paid rent. Busted my tail to save and buy a house. First wife got that and I basically started over. Busted my tail again, bought another house. We looked at moving up, found another place we could afford and then stuck our necks out to keep the original house as a revenue property. There have been many times it would have been easy to sell it and walk away. We did without a lot things other people were enjoying. You don't indicate where you live, but I'll make the assumption Calgary. Over the last 35 plus years, if you had a heart beat, a body temperature over 90 degrees and a pair of work boots you had a job almost anywhere you wanted. If you didn't have or couldn't afford the boots many places would supply them. Not only that, but lots of overtime too. Very few young people want overtime. Many of them are too busy on the text machine or phone to be bothered to work, even when they are on the clock. Hint: If you did stay off the phone and show a bit of interest and initiative you would probably be moving up the ladder in very short order. The last 4 or 5 years haven't been as good, but there was still work around if you wanted it. I delivered papers when in high school to buy a motor bike. After high school worked on a paving crew. Started at 7 AM and worked till dark many nights. Yes, 8, 9 and even 10 o'clock. Oh, buy the way make damn sure you're here at 7 tomorrow. Winter time I worked on seismic crews. Froze my butt in the high arctic. Like about 200 miles from north magnetic at one point. Oh yeah, put in a lot more hours working there. Spent many holidays, birthdays, funerals, anniversaries and any other family or fun event you can think of working. Often times stuck in a not so nice bush camp.
After all that you're going to tell me I'm a greedy areso for charging some poor soul rent for a building that I busted my butt to get?

Up to the last few weeks, Corona issue, it has still been possible to save and buy a house. Start small. That's what we did. Quit going to the bar all the time. Oh right, you can't do that right now. Quit the liquor store and the pot shop. Skip the fast food and skip the dishes. Live within your means. In short get off your whiny arse and on your dying feet. Put your tail up, your head down and giver! Nobody on the planet owes you a damn thing!!

Disagree. My parents owe me, and I'll tell you why. They inherited a lot from my grandparents. My grandparents however didn't give them everything so that they could cruise around the world having fun, they gave it to them with the expectation that they would have children, live frugally, and pass everything along similarly. That is how our civilization works. Life isn't about having fun for yourself and telling the next generation that you don't owe them anything and that they should fend for themselves.

Lucky for me, my parents are smart to that. Despite my dad dropping out of high school, they managed to do quite well mainly thanks to the oil boom (largely luck of when and where they were born). They ended up being worth a few million just from working oil and buying land that tripled in value in a short period of time. A few years ago they gave us free housing to live in until we buy our own. Very fair I think. My grandparents helped my parents build three houses from scratch, so they received a lot of help in that way.

Our family of 4 lives on $20K/yr so we are not wasteful at all. I learned to live that way from my parents and grandparents. The only vacations we ever did were hunting and fishing which are practically free. Wife works part time and we saved $80K after-tax last year. We are sitting very comfortably so I have nothing to complain about. I just wish we could have a correction in the housing market so we can get more house for our dollar, but unfortunately the government is hell bent on propping up the bubble. We will probably be buying within the next couple years.

All I am saying in this thread is that I can sympathize with the tenants who don't want to pay rent. If you guys can't, then it's because your own brains are incapable of understanding their position. And the reason for that is probably because you're too full of yourselves to admit that you were born into the most prosperous place and time in the world's history and your success is not purely due to your innate greatness, but to your very advantageous circumstances. I've never said that exploiting others is bad, just that you have to be realistic. Naturally tenants are going to hate landlords in this situation and if they have the opportunity to withhold rent or damage things, there's a good chance they will take it.

[big zeke]

Originally Posted by MyAlberta

I also tracked my expenses for 30 years. Housing and groceries were tops. Best investment for me was education. Charting my income clearly shows jumps in income were aligned with certifications.

Boring accounting crap...much more fun to buy that new gadget that the salesman convinced you that you need...the payments were only XXX a month spread out over twice it's useable life.

And then blame others for your situation.

Folks who don't protect themselves become victims...cuz they tend to make good victims (quote from an old boss)

Oh ya, and double down on that education thing, work experiences as well (no matter the format), it will never work against you.

[Lamburt]

Originally Posted by st99

It makes me laugh when people complain how things are harder than in 1980. I bet if you'd live like our parents did in the 80's, you'd be a lot richer now. Go the restaurant less than once a month, get rid of the cable, internet and your cell phone. Have only 1 car per family, and don't travel around the world. You'll get rich on an 80's life style.

I already have that lifestyle. It takes a lot more years to save up for a house now than it did in the 80s, because housing prices are 8X higher, interest rates are low, and wages did not rise nearly as fast as housing prices. I'm not sure why this would make you laugh. It's simply a fact that housing is less affordable today.

[SHEDHEAD]

[QUOTE=Lamburt;4140360]Disagree. My parents owe me,


I stopped reading at this point.

[Trochu]

Originally Posted by Lamburt

Disagree. My parents owe me, and I'll tell you why. They inherited a lot from my grandparents. My grandparents however didn't give them everything so that they could cruise around the world having fun, they gave it to them with the expectation that they would have children, live frugally, and pass everything along similarly. That is how our civilization works. Life isn't about having fun for yourself and telling the next generation that you don't owe them anything and that they should fend for themselves.

Lucky for me, my parents are smart to that. Despite my dad dropping out of high school, they managed to do quite well mainly thanks to the oil boom (largely luck of when and where they were born). They ended up being worth a few million just from working oil and buying land that tripled in value in a short period of time. A few years ago they gave us free housing to live in until we buy our own. Very fair I think. My grandparents helped my parents build three houses from scratch, so they received a lot of help in that way.

Our family of 4 lives on $20K/yr so we are not wasteful at all. I learned to live that way from my parents and grandparents. The only vacations we ever did were hunting and fishing which are practically free. Wife works part time and we saved $80K after-tax last year. We are sitting very comfortably so I have nothing to complain about. I just wish we could have a correction in the housing market so we can get more house for our dollar, but unfortunately the government is hell bent on propping up the bubble. We will probably be buying within the next couple years.

All I am saying in this thread is that I can sympathize with the tenants who don't want to pay rent. If you guys can't, then it's because your own brains are incapable of understanding their position. And the reason for that is probably because you're too full of yourselves to admit that you were born into the most prosperous place and time in the world's history and your success is not purely due to your innate greatness, but to your very advantageous circumstances. I've never said that exploiting others is bad, just that you have to be realistic. Naturally tenants are going to hate landlords in this situation and if they have the opportunity to withhold rent or damage things, there's a good chance they will take it.

Wow....a lot of crazy in there.
Parents "owe" you, not at all.
Parent's gave you a house, explains alot.
Live off $20k/year, maybe if Mom and Dad are paying still.
If you've saved money, it doesn't matter if its before or after taxes.
My brain is fully capable of understanding you shouldn't steal from people thank you very much.
Exploiting people is bad!!
I've rented, in no way shape or form did I hate my landlord.
Maybe you should trash your landlord's house and then sit them down and explain it, if they don't get it, you could tell them it's because "they're too full of themselves"!

Be honest, you don't actually believe this right, just trolling in your basement?

[EZM]

Originally Posted by Lamburt

I side with the renters on this. Landlords are parasites. They don't add value like a beneficial business does, they extort money from people by having monopolized something that's essential for living. Poor people are forced to pay them because there is practically no other option. It's similar to how people bought up all the toilet paper when the pandemic hit, hoping to sell it 10X markup, only with housing for some reason it's been normalized and the government is complicit in it, while with toilet paper it's rightfully viewed as scummy.

You are worried about your retirement, but you don't care that your poor tenants will probably never own their own house, let alone have any retirement of their own, thanks to housing being unaffordable, thanks to people like you monopolizing it. You say they are "entitled" because they don't want to pay rent, but you don't see anything wrong with your own feeling of being entitled to get $1000+/mo from them in exchange for practically no work on your part.

In my opinion, Canada should regulate the housing market. People should not be allowed to buy up 10+ houses. Foreign ownership should be banned until housing is affordable to Canadians. Perhaps renting should only be allowed for properties specifically zoned for it. Although your easy money retirement dreams would suffer, we'd be better off by most other metrics.

Otherwise, wealth inequality will continue to grow. Wealth inequality leads to civil unrest. If it goes far enough, it ends up with the poor people cutting off the heads of the rich people. History shows this quite clearly so don't act shocked if, after you've monopolized property and are getting paid for doing nothing, your serfs start to stand up for themselves against your system and throw a wrench in your plan for easy money.

Unfortunately Canada appears to be doing the opposite. More immigrants to push housing prices higher. Free money to prop up all the people who are overextended themselves because they bought housing at ridiculous prices, in many cases buying more housing than they needed to try to extort money from those less fortunate. It's no surprise that crime and civil unrest are on the rise. Hopefully you have an exit plan as housing will end up worthless if the cities turn into slums.

Unbelievable.

I actually agree with absolutely nothing you said here. Nothing.

No point in even responding is there.

[Lamburt]

Originally Posted by big zeke

BTW, not a fan of calling landlords parasites...they have a lot more at stake than a tenant and that risk deserves a reasonable reward. All they need is 1 month vacant a year and they are sitting at no profit. Their housing investment could drop as easy as it could rise and nobody will bail them out. If you think it's so easy you should try being one.

There is not much risk. They are in a frenzy buying up a finite resource and the government is on their side (ie. high immigration, high regulations on new housing supply). And very little work involved. Right now, some provincial governments are currently bailing landlords out by subsidizing rent payments. They are parasites because they are adding no value. They are simply middle-men who cause the price of housing to be a lot higher than it otherwise would be, thereby causing a lot of hardship for other people, so that they can get some easy money.

[Smoky buck]

Originally Posted by Lamburt

There is not much risk. They are in a frenzy buying up a finite resource and the government is on their side (ie. high immigration, high regulations on new housing supply). And very little work involved. Right now, some provincial governments are currently bailing landlords out by subsidizing rent payments. They are parasites because they are adding no value. They are simply middle-men who cause the price of housing to be a lot higher than it otherwise would be, thereby causing a lot of hardship for other people, so that they can get some easy money.

You do realize the only value in renting out your house is so you can hold onto it till the market reach a good point for resale. Outside of that you don’t make a very good return for the expenses and investment in the house

[Lamburt]

Originally Posted by Smoky buck

I thought about typing a logical response but then thought no let’s not go into crazy town because common sense cannot be found there

Not an argument.

Originally Posted by EZM

Unbelievable.

I actually agree with absolutely nothing you said here. Nothing.

No point in even responding is there.

Not an argument.

Originally Posted by Trochu

Wow....a lot of crazy in there.
Parents "owe" you, not at all.
Parent's gave you a house, explains alot.
Live off $20k/year, maybe if Mom and Dad are paying still.

I explained why my parents owe me. From that perspective, all parents owe their children. I'm sorry if this offends you because you want to feel that you don't have any responsibility in life and are just on this planet to have fun.

You can think of it as my parents giving me a several-hundred-thousand dollar interest-free loan. They own a spare house that we live in.

As for living expenses, yes, we live on $20K/year. Food is the biggest expense. No eating out. One older vehicle that I maintain myself. All kids stuff is second hand, much of it obtained for free. It's actually fun being as frugal as you can be. There is very little we can't do ourselves. Our only vacations are camping, which are free. This just goes to show how wrong everyone in this thread was who insinuated that we can't afford a house due to being extremely irresponsible with money. The reality is that even the most frugal people now have to save for a decade to be able to afford a house. Houses are not as affordable as they were 20, 40, or 60 years ago.

[marky_mark]

Did we not call it about him living for free at home lol

[Ken07AOVette]

Originally Posted by Lamburt

Disagree. My parents owe me, and I'll tell you why. They inherited a lot from my grandparents. My grandparents however didn't give them everything so that they could cruise around the world having fun, they gave it to them with the expectation that they would have children, live frugally, and pass everything along similarly. That is how our civilization works. Life isn't about having fun for yourself and telling the next generation that you don't owe them anything and that they should fend for themselves.

You have just perfectly explained entitlement.

You are living on peanuts waiting for the folks to go toes up so you don't have to work anymore.

I still think I know who this is, why not tell the real story?

G'men we are being trolled. Someone hiding the house suffering from 'anxiety' is playing games. No more outta me. Don't feed the troll.

[Lamburt]

Originally Posted by Smoky buck

You do realize the only value in renting out your house is so you can hold onto it till the market reach a good point for resale. Outside of that you don’t make a very good return for the expenses and investment in the house

That is often true as real estate speculators are in such a frenzy that they bid up prices to the point where rentals are cash flow negative, yet landlords are still buying expecting large capital gains. At least in hot markets like Toronto that's the point they have reached.

These speculators are a curse and the government should be stepping in to shut it down. They result in an extreme elevation of housing prices to the detriment of everyone else (many of whom are then forced to rent from those speculators). But governments like it so far because that means higher property values and higher taxes, and the average Canadian idiot hasn't yet figured all this out and given the government a mandate to step in. I think it will happen soon. We are nearing the breaking point where there's not much upside left but a lot of downside. I'm still hopeful the virus will trigger a correction but it's so unknown that we have to watch and see.