HELP: Should I buy?

trUth, a rock and roll music discussion board is a more appropriate place for your disruptive posting. The past week has been very constructive here on StreetEasy -- people talking about residential real estate in New York.

Nobody's waiting for you. And that's one of your many problems. Nobody.

... and that was meant to read "unwelcome personal messages *TO*"

Really truth, just who is the bully here? I pointed out the undeniably "truth" that you brag all the time yet accuse others of it. And that led you to spew invective, all based on foul-minded conjecture, about personal lives. Shame on you for your immature, churlish behavior.

another trolling comment from alkiealanhart.
Nobody is waiting for him or the other alkie gangmembers. Not anywhere in the real world.
I didn't mention anything about "rock and roll music" in my comment.

I get along very well with dwell. The alkie gangmembers don't like that.

I get along with NYCNovice and the alkieaboutready doesn't like that.
Alkieaboutready has been trying to form a cyber-relationship with somebody she doesn't know.
She's been trying to put one over on NYCNovice, who is a trial lawyer. LOL!!!

and on se, which is the only world they know; only discussions between the fellow alkie gang members is permitted by them.

and here's aboutready with yet another drunken trolling comment about me.
She has no shame because she's a drunken, frustrated unemployable housewife.

It's now 7:25pm there.
another drunken bully gangmember discussion alkiejack has been in progress since I posted a comment.

Pathetic.

It's like watching "The Snake Pit" ... again and again.

SE, really?

Her usual alkie response.
Stop looking in the mirror, drunken alkie frustrated unemployable housewife.

Projecting. Except the married part. Toxic.

But should "truth" buy?

and here, se readers; is the perfect example of another drunken aboutready meltdown, with help from the alkiealanhart.
8:05pm NYC time. They've been melting down, since I posted my first comment on se in a week.

I would bet my entire Sprint gain that aboutready has posted a comment referring to her "adoption" of the "homeless black kid"; since I've been gone.

trUth, why on earth would you bet anything on something of so little concern to you, and something so irrelevant to this discussion board that it's not even clear why you would bring it up.

Perhaps you've been reading too many entertainment weeklies at your supermarket checkout, and focusing in on those stories about celebrities adopting children.

Bizarro.

hifier
1 day ago
Posts: 0
Member since: Jun 2012
ignore this person
report abuse
If this has been answered somewhere else I apologize, but how are you able to rent a $1mm apartment for 2k/mo? I would ride that out as long as could. In my experience, rent on that kind of apartment would be about 4k depending on amenities. Sounds like a great situation though.

Hiflier, what brought you to streeteasy? Are you in the market to rent or buy?

what meltdown? stop projecting, take responsibility for your comments, be humane.

oops, sorry, all impossible.

inododo says:
For me personally:
1. Rent for $24K.
2. Buy for $12K monthlies, $12K transaction costs.

of course, because on this $3MM apartment, the landlord is only charging a 1x markup on his or her monthlies.

...

5. I'm willing to bet that rich a-holes

Your landlord is an asshole? What exactly makes him or her an asshole?
This class warfare sounds a lot like someone else.

...

To show inonada is not all about numbers, let me switch to psychic:

1. Variety is the spice of life.
2. Inonada professes faithfulness to his wife.
3. Inonada does not profess faithfulness to a piece of RE.
4. There are lots of unique apts/homes.
5. More than enough to fill inonada's lifetime.

You realize that w67 said the same exact thing? It's like you are just sitting there, waiting to hear what your master has to say, and re-writing the same thing but without the FLMAOZ. Oh yeah, now that I bring up w67th's name, I remember that it's w67 who is all about the class warfare. We know his story, so what exactly happened to you? Or, maybe nothing, but the theme from your big brother idol w67 sounded good.

you know, i think i'll just throw this kid back out onto the street because of "truth's" disdain. this media whore who can't resist from incessantly mentioning the "PEOPLE she knows."

how crass of me to try to help a kid, and even mention it. truth is so much more circumspect.

but again, should "truth" buy? does she have any opinions on what constitutes a reasonable purchase?

huntersburg is here.

the alkie gangmembers are toast for tonight.

Along with "the homeless black kid", that aboutready is "adopting" and now refers to on se as her "son", his "crack addict mother" who "abuses him", on and on... that aboutready has described in detail in various discussion threads here on se.

Yo truth. you're responding awfully quickly. methinks you're at your computer waiting for our comments.

you seem to be cycling back to the manic phase sooner and sooner these days.

hb, are you trying to interrupt the manic flow? cc has strong opinions, but he is not nearly the manic mess case that you professed to love recently.

I don't believe I've professed love on streeteasy.

In fact, the only love that I've found, and it's a bit disconcerting, is inododo's love for w67. I've found its manefestation rather disconcerting.

manifestation = mannequin + infestation

I actually don't care what Nada's poison is; I just want him to find our next rental and negotiate our lease for us. He clearly has a great love of real estate combined with the discipline and tenacity to find unique properties and negotiate favorable terms - exactly what we look for in a broker. I understand he is otherwise engaged, which is unfortunate for us.

no, hb, i'm fairly sure you said at some point, "truth, you know i love you, but..."

my memory isn't as perfect as your, particularly given the stress.

truth, you f'ng bitch, this kid has been the victim of horrible abuse. How could you possibly denigrate the efforts of someone who wants to help?

I'm a publicist, millions of people read my written comments in the real Press about people who are interesting.
Unlike you, the alkie slob "aboutready" who can't get anybody to pay attention to her anywhere except on se and needs to post details about "the homeless black kid" she "adopted".
Now she's going to "throw him back out onto the street..."

Where else but on streeteasy would this drunken slob get any attention for her:
"help a kid"?!

FULL ABOUTREADY DRUNKEN MELTDOWN IN PROGRESS.
Nobody cares, drunken slob. Have another drink.
Your crap will "flow" all night long.
LOL!!!

>particularly given the stress.

Why do you have stress?
Have you looked at the various forms of non-caffeinated tea available?

>no, hb, i'm fairly sure you said at some point, "truth, you know i love you, but..."

Does the "but" work similar to the "no offense?"

>aboutready
about 8 hours ago
Posts: 14868
Member since: Oct 2007
ignore this person
report abuse
>When people preface their comment with no offense it invariably leads to an offensive comment.

NYCNovice
2 minutes ago
Posts: 78
Member since: Jan 2012
ignore this person
report abuse
I actually don't care what Nada's poison is; I just want him to find our next rental and negotiate our lease for us. He clearly has a great love of real estate combined with the discipline and tenacity to find unique properties and negotiate favorable terms - exactly what we look for in a broker. I understand he is otherwise engaged, which is unfortunate for us.

His full strategy is available here on streeteasy. The best part - NO, it's not about berating the landlord with a threat to put him or her on the "shitlist" - is how you start the process by finding 100 apartments available that meet your initial criterla. Yes, 100.

Truth, where are you now?

How? Possibly? The specialists have been trying to figure out the answers to those questions and so many more regarding truth,for over seven decades.

NYCNovice, don't worry ... we'll make inonada get you that apartment ... now that we know what his rent is, and what the buy price in his building is. I have it narrowed down to just a few buildings now. We'll find him.

or else

Back in Italy, huntersburg.
Would stay until the end of the month but I decided to return for some great upcoming concerts in NYC:
Bruce, the Who, the Stones...
Lots of great concerts which aboutready can only and does dream about getting invited to attend.

inonada no gotta hida, he knows aboutready and she has his real name.

Goodnight, huntersburg.

huntersberg, please don't start your "what are you wearing? What kind of panties do you have on?" routine with trUth. You'll put her over the edge.

Oh, too late.

Alan, are you wearing panties?

>Back in Italy, huntersburg.

Every time I go to Italy, they have a strike at Malpensa.

pathetic. again. with more info.

http://www.nytimes.com/2012/09/11/business/as-low-rates-depress-savers-governments-reap-the-benefits.html?hp

hüntersbürg, sorry to hear you were affected by the strike at Malfeasa.

Malpensa

My poisons:

1) My work -- my idea of a good time. Really.
2) Spending a stoopidly-large amount for a home in absolute terms.
3) Enjoyment of "common" luxuries -- eating out, trips, wine, weekly housekeeper, iPhone, cable TV, a nice gift for a relative / close friend, etc. -- without worrying about it adding up.
4) As Keith proffered, pointless amassment of fiat paper. Can't spend money on that which I don't care about, capital not invested is capital wasted, etc.
5) Time on SE. 4435 posts, 5 mins per post writing, plus maybe 10 mins reading. 1100 hours at my income, oh jeez!
6) Putzing around my place in raggedy 20-year-old thread-bare t-shirts full of holes, my wife marvelling at the dichotomy of it all. They're soft shirts, what can I say?

You'll never find me, alanfart. Neither I, nor my apt, nor my building exist.

But when the time comes, I'm happy to help NYCNovice find the imaginary apt of her dreams. What's another few hours on top of 1100?

No Rolex, yacht or Porsche?

Just to follow up on some earlier questions... I always wonder why rent/buy debates are focused on the results. They should be focused on the assumptions (opportunity cost, rent growth, etc...). Given that any calculator should be more or less similar, once one agrees on what the assumptions should be, the outcome should be a given. Alternately, you can find what assumptions will support a rent or buy decision, and then debate as to whether or not they're realistic.

Wanting to get more granular than a lot of the on-line calculators, I built my own model. And, despite having bought at around 14x annual rent, I actually don't think it's a complete slam dunk. Given the risk involved, time it can take to sell, and overall hassle, I don't think I'd ever buy again unless I know I wasn't going anywhere for 30 years or bought at close to 10x.

Good point, seaver69. That's why there's a tradition in the world of real estate investment to demand/expect higher cap rates from more properties in more marginal areas, vs. in more blue-chip areas.

This reflects (all other things being equal) longer vacancy periods, more wear & tear to property, more legal action to evict in the case of more marginal areas -- as well as a riskier prospect for asset appreciation/depreciation as compared to blue-chip properties.

So there's a certain logic in being willing to go to higher rent ratio in virtually all of Manhattan ... but only up to a point. And hardly anything in Manhattan has been on the right side of that point for a decade or so. Which I think is also your point.

Anyhowz. ...... iPhone 5 is here with a dildo attachment! Buy buy buy and sign up for sprint. AT&T and verizon vibrates too quickly too soon. Sprint like to go slow and steady and then builds up to speed..... Just the way she likes it.

And ladies you know who you are out there!

@ino, thanks for the confirmation that it was indeed dividends that kept those 1929-1954 investors afloat. I'm surprised that the dividends were that high.

ok im in for 3 ip5's, but wwhat of sprint's 4g? their inferior ntwk?

if i dont opwn the stock at least i can be writing checks to six seven

Yikers? Dude. The Bugatti goes 257mph. Most accords tops out at 100 Mph.

Guess where 99% of mkt iz?

How much faster do you need porn to download to your 4 inch screen?

"That's why there's a tradition in the world of real estate investment to demand/expect higher cap rates from more properties in more marginal areas, vs. in more blue-chip areas."

I think the other important aspect you are missing is labor. You can find 8x price-to-rents in many places in the country. Let's say you can translate that into an expected return of 10% on cash (including appreciation @ inflation). Lever it up 4x with a loan at 5-6%, you're looking at returns of 20-25%.

Sounds pretty awesome until you realize that in order to achieve this, you're looking at $80K places with capital of $20K. So your returns are $5K a year, but how much of that is "labor" rather than "investment"? Depends on the value of your time, I guess.

Point being that putting $1M down on a single $4M apt is a whole lot less labor than putting that same amount down on 50 apts at $80K a pop. With the latter, are you really making $250K on $1M, or are you making a more-muted return on your investment alongside a full-time job and then some?

True, true ... although as you move from working class to middle class to upper middle class to the criminal classes, you're dealing with people who are a greater and greater PITA, whining about every little scrape and bump, and take the blackout paint off the nice-view windows [like there's never going to be another war and suddenly they'll want it re-blackened] ... and people who are substantially more litigious as well.

Anywayz, Ziggy Freud says work makes you happy.

sorry, that's "*making* you ... , and take the blackout paint" -- I deleted something or the other about beige textured paint

That's ok alan, we didn't understand you either.

RE: huntersburg "Hiflier, what brought you to streeteasy? Are you in the market to rent or buy?"
I have just recently bought. Moved here 5 years ago from the midwest and not going back, ever.

I like how the recent comments boil the debate down to its essence. Totally agree with alanhart re what realestate investors look for, and also agree with inonada regarding the labor aspect. I only know one couple who have chosen single family residential real estate investment as their primary source of income. It was an unusual choice for their peer group; both of them chucked more traditional paths to trudge around the country rehabbing houses in areas I had never heard of and then renting those houses out to marginal tenants. They have had great success because it is both what they "do," and what they "love." He likes building stuff; she likes numbers. They are actually the ones who turned me on to Palm Coast. (They cashed out of Palm Coast in 2005 for obscene returns between 2001 and 2005 and advised me to do the same, but I actually like my house down there and view it as part savings part consumption). In any event, this couple works really hard at what they do, but they love it, so it works out really well for them. They are among that super fortunate group whose talents are aligned with their passion and a market. I think the same can be said about those who make money picking stocks; the people I know who have done well in that field are those who do it full time and love it on top of having the talent to know how to do it at a high level. I cannot help but think that there is quite a bit of labor involved in W67th's excellent Sprint call.

Word of the day boys and girls.

Swedish penis pump.

name one thing sold at Ikea that doesn't require assembly

There are some awful floor rugs that come as they will be thrown on your floor. Lots of things really. But nobody would admit, likely, to purchasing their home decor items and kids toys at ikea. Snobs.

My point being, as the world stands today, don't buy single family residence in any blue chip area if your aim is to make money off the purchase unless you are a full-time real estate investor; likewise, don't buy individual stocks unless you know what you are doing, and the likelihood of your knowing what you are doing in that area increases with the amount of time that you spend doing it. I totally agree with seaver69 that all debates should start with questions re assumptions because most of them would then end before they even began. This thread highlights that, plus it highlights the fundamental disconnect between those who are currently renting Manhattan residence and those who are currenty in the market to buy Manhattan residence: anyone buying Manhattan residence today is someone who puts a high premium on controlling the space where they live; assuming any modicum of financial management sense, that person is viewing the purchase as having a high consumption component and would not be on this board asking whether they should rent or buy. In short, I feel like Inonada's fake question brought all of these points out nicely and should be the "go to" thread for anyone asking whether they should rent or buy. All future such questions should have a one word response with citation as follows: "RENT! See streeteasy.com/nyc/talk/discussion/32476-help-should-i-buy?page=1."

well, then there's me. who despite Seaver's discomfort of the 14X buy also knows the monthly expense rent/buy calculation. I'm calling my gains ahead, barring complete and utter catastrophe, fire and brimstone, cats and dogs, blood on the walls, real nasty sorts of stuff.

The question should have a single definitive answer regardless of the facts or circumstances, and the support for that definitive answer should be based on answers to a "fake question"?

Aboutready, there is only one correct answer. Only one. If there's a second answer, its just a mere variant based on the price of Sprint stock.

really? only one answer? no nuance?

then i've lost. bit time.

I don't make the rules.

Hi AR - I would consider you a professional. I have found your analysis instructive and educational where I have come across it, and you can correct me if I am wrong, but I think the analysis you have provided reflects a fair amount of labor. In short, your analysis of real estate is on part with W67th's analysis of Sprint. So as far as I am concerned, you fall under the "unless you are a full-time real estate investor" qualification to my statement.

Hi HB - I am glad that you and AR and AH are getting along because I like you all. I now wish you would come to appreciate Inonada, though I tend to agree that Ino's affinity for W67th is a bit disconcerting. I appreciate W67th's humor and stock analysis as much as the next person, but I have a hard time with the vulgarity.

Fk fk fk fk fk fk dildo. Fk fk fk fk rectal sex. Fk fk fk fk Swedish meatball. Fk fk fk fk

Metamucil. Good for colon health.

Fk fk fk fk

QE2 - infinity and beyond. Fk fk fk

I made part on that hole. Good hole. Nice hole. Eat my ball hole.

>but I have a hard time with the vulgarity.

Which part? Sprint, FLMAOZ, the squatz, or how he routinely sexually harasses women (specifically older white women) and even said his wife was touched by thousands?

My fking drives are outrageous. I found another 20 yards.... The secret. I grunt and yell 'fuck' at the top of my lungs..... But then again I do that before my putts too. Drives my playing partners insane. But fk them. Me lower score them higher score due to their 'sensitive' hearing.

>I now wish you would come to appreciate Inonada,

Why would I appreciate someone who is deliberately misleading?

Truly disturbing that I just laughed out loud when I read W67th's reply.
That aside, all of the above.

or racist? - he never did tell us which races he believes are prone to being heavier.

I haven't seen any of that and can only form opinions based on what I've read.

maybe you read it under one of your other names?

What other names? It's all w67 posting under different aliases. I'm inonada, columbia county, nyc novice , ny re, aboutready, nyc10023, falco....

Blowz your mind doesnt it? In each atom is a universe. Pooooof! Mind blown again.

>What other names?

My comment was directed to NYCNovice and her other names, 2 of which she's acknowledged.

Poooof. Oooops. That's just ejaculatory manner. Anyone got a Kleenex?

Look, I gave you the 3 handles I am willing to own; the other 7 I am using are going to stay in the vault. Sometimes I just want to pose a question and play all the parts myself. What can I say?

I forgot. You are the lawyer who asks legal questions but has no legal opinions of her own.

W67 please not RENY, that would take work to sound that dumb.

wow hunterburg is having a grand old time.

I am pretty sure I have never asked a legal question on here. I did ask for a referral for a landlord tenant attorney - very different. Kind of like an orthopedic surgeon asking for a referral for a cardiologist. Actually, a little different, because I could do the case against the former landlord myself, but it literally is not worth my time.

oooh, look, columbiacounty removed a letter from the middle of my name.

Aren't all questions legal? I mean, as long as Ħǜnŧɘrβbűrg doesn't ask them (because he doesn't get to ask the questions -- that's rule number one).

"I now wish you would come to appreciate Inonada, though I tend to agree that Ino's affinity for W67th is a bit disconcerting. I appreciate W67th's humor and stock analysis as much as the next person, but I have a hard time with the vulgarity."

W67th and me, we're like the two little dudes on your shoulder. Now I may be more coherent, but he's 10x funnier, and if you break through the vulgarity you'll see that we're saying the same thing.

NYCNovice, here's the post. The thread was Eumendides asking about buildings that discriminate against kids. He was told that was against the FHA, and when he defended his disagreement against the FHA w.r.t. kids, I said the following:

-----

No one said you were a racist. You were seeking information, and you got it. The form of housing discrimination you seek (against children) is protected alongside other protected classes when it comes to housing: race, religion, disabilities, etc.

You can choose to defend your bias, or you can try to understand why our society decided to start protecting children against such biases 24 years ago.

"Like kids, but don’t want them screeching around the hallways or bumping our knees into strollers in the elevators."

Let's break that down.

1) You have taken an activity kids are more likely to be engaged in (screeching), attributed it to all kid engaging in that activity inappropriately in your hallways, and used that as reasoning for your bias. Sorta like using disproportionately higher levels of drug dealing among certain minorities / males / 18-30 year-olds, and the possibility of bringing this into your hallways, as rationale for discrimination.

2) You have taken the mobility/space requirements of certain children and used that as an excuse for discrimination. Why stop at strollers? "Like disabled people, but don’t want bumping our knees into wheelchairs in the elevators." For that matter, why not discriminate against larger-set people based on the elevator excuse? Maybe it'd be best to just cross out all races that tend to be heavier, that'd probably be easiest on your knees in the elevator.

Still don't see it - I take the above to mean that there are statistics that support the proposition that some races/ethnicities tend to be heavier/larger than others. While I have never looked at the question, it would not surprise me if such were the case. All I know is that when I lived in China and looked for dresses, the shopkeepers would wave me away with the expression "tai da le," which is Chinese for "too big." Nobody ever told me I was too big in Europe; nobody ever told me I was too big in the United States. The cold hard truth is that I am larger/heavier set than the average Chinese woman, though I am average for a woman of Northern European descent. Does it make me racist to acknowledge that women of Northern European descent are larger on average than Chinese women? I don't think so.

That's it. That one sentence, where I was ascribing the assertion to a hypothetical person as an example of inappropriate discrimination. That is the sentence that launched a 1000 posts from huntersburg saying the same thing over and over.

Now mind you, I've never provided an opinion on the validity of the assertion. Others have on SE, as you have done above. Extensive research has been published in medical & health & public policy publications looking at BMI across various factors, including race. But does huntersburg blather about you & others & a whole wing of science / public policy?

Nope, he's just got a hard-on for me. Why? Probably because I made him look like the fool he is one too many times. Don't worry though, I too like our little idiot troll. Every decent board needs one: "WTF am I doing here wasting all this time? Well, at least I'm not THAT guy."

w67th is brilliant. you may have to weed through a lot, but he knows his economics (and I usually find him amazingly funny, but i don't take 90% of what he says seriously, and I doubt he does either). hb has grown on me a bit, like a fungus, but he does tend to be obsessive.

Since you like to read old threads, here's a fun one about huntersburg a.k.a. hfscomm1:

http://streeteasy.com/nyc/talk/discussion/18719-hfscomm1-jimhones09-rufus

This was immediately after SE first started implementing greying-out, well before implementing quarantining of new posters. The latter was implemented to counter the 500+ logins that came alongside the progression of blathering/banning that led from the login hfscomm1 to huntersburg.

I consider the above piece of investigation as one of the major achievements of my life's work. It was also the start of the 'burg getting pissed off at me.

I know you'll disagree, nada, but I just don't think there's any way in hell the comm creature would have stopped attacking me had it morphed into HB. I know HB continued some of the themes for awhile (my toilet seat comes readily to mind), but comm never would have had the slightest change of opinion.

Yes, I disagree. Even HB eventually gets bored with the same innane posts. It takes 40x longer than everyone else, but eventually it ends in favor of another set of innane posts

In any case, I appreciate the change in tone he took 6 months ago. The one-line attempts at refutation work every once in a while. The 10% hit rate at humor serves as nice counterpoint to w67th's 90% hit rate.

So HB is hones?
I thew it out there, but did not actually believe it

Please post one example of when inododo made me look like a fool.

Post one piece of evidence that I am a rental broker from New Jersey in a sham marriage. Or that I have any affinity for Chicago . And the last poster doesn't even have readable posts so I can't address that, but please feel free to post your evidence.

Come on Perry Mason, you can do it.

By the way, based on NYCNovice, was it white people that inododo was saying trend to be a heavier race?

I just read dodo's thesis on posters, which seems to hinge on the assumption that SE would ban an IP address, as if people have fixed IP addresses. Anyone who is posting from home could get anew IP address by shutting off his or her cable modem for 30 seconds. Or using mobile.
So much for that.

You guys are hilarious; again, I like you all and enjoy the reading (except when the posts are vulgar). FWIW, whatever the dynamics are between each of you, I am guessing you are each aware that your attacks on each other don't affect each reader's ability to judge each post for itself.

AR: hfs is absolutely the same scurrilous troll --- huntersburg. yes, he calmed down but hunters burg is the heinous troll who stalked you endlessly. and he makes the exact same attacks on me the hfs made -- exactly the same obsessive irrational stalking. i don't know why you read his posts let alone answer him. you encourage trolls on the site and specific irrational attacks on your good posts by doing so. so now to prove the point, huntersburg will engage in ad hominem attacks on me.

Snow White apt23. Will even call the police on her husband just to get revenge on a third party.

So apt23 is Snow White and which one of the seven trolls are you?...Sleazy? Snoozy? Spazzy?

Sparky

So you're the mascot of the Arizona State University? That makes a lot of sense.

But you're still sleazy, snoozy and spazzy.