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Old 02-24-2006, 08:23 AM   #76
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Originally Posted by Carl Giordano
I'd race for nothing, just to get free stuff
How true
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Old 02-24-2006, 08:43 AM   #77
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I have discussed on a number of occasions working as a development engineer with one of the large manufacturers. The last time around, they asked me what were my salary requirements. Answering this question with a number was probably one of the BIGGEST MISTAKES I have ever made. Now I realize that it didn't matter what they were going to pay me, I should have done it just for the experience, the people I would have met, and most of all the opportunity to wake up everyday and go do something I love. And when you get pretty much all the top-level equipment you need, and get to go to all the races who cares what you make anyways?
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Old 02-24-2006, 08:57 AM   #78
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The only reason you would want to keep a mortgage is if you're invested in real-estate and rent out those properties. Tax deductions are nice and help out, but the only reason I make them is because I can't afford to buy my home cash. I'd much rather keep the $1200 a month in interest I toss aside and owe the gov't an extra $1500 in taxes per year, but I'm stuck because I used poor judgement. Sure I can sell my home and move, but it's just not practical with a wife and three kids. We have family, friends, etc that mean a lot to us, so we sacrifice and stay.

Basically all anyone has to do is know the difference between your WANTS and your NEEDS. You should base you life-style of living on what you make versus those NEEDS. You should only reward yourself with the WANTS if you have CASH $$$. Most of us live not just beyond our needs, but beyond our wants. That is the American way....and basically most of us are suckers to it....LOL
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Old 02-24-2006, 09:01 AM   #79
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Ok, a little bit off-topic but maybe interesting for all of you:
there are 3 kinds of people: poor, middle-class and the rich people. Now the poor throws away his money when he has collect his salary. This kind of people will always stay poor. Now most of the people are middle-class. This kind of people spend their money on mortgage, holliday, the familycar and they save some on a bankaccount. Some of them will be come richer by invest in stockexchange. Then the thrid group will become richer and richer. Why? Most the money they earn will be invested in stockmarket but also in real-estate, yachts which will be sold for profit and other prohect which gives them more money after a smaller investment than the profit they earn. Look at Masami Hirosaka: he has been working now for many years for Yokomo. Don't know what he earns but he has that dreamjob all of you want though? (not me, I have my dreamjob: networkmarketeer which allows me to make my own working hours and spend the rest of the day with my 2 kids)Being busy all day with his hobby!
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Old 02-24-2006, 09:30 AM   #80
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Quote:
Originally Posted by TonysScrews
The only reason you would want to keep a mortgage is if you're invested in real-estate and rent out those properties. Tax deductions are nice and help out, but the only reason I make them is because I can't afford to buy my home cash. I'd much rather keep the $1200 a month in interest I toss aside and owe the gov't an extra $1500 in taxes per year, but I'm stuck because I used poor judgement. Sure I can sell my home and move, but it's just not practical with a wife and three kids. We have family, friends, etc that mean a lot to us, so we sacrifice and stay.

Basically all anyone has to do is know the difference between your WANTS and your NEEDS. You should base you life-style of living on what you make versus those NEEDS. You should only reward yourself with the WANTS if you have CASH $$$. Most of us live not just beyond our needs, but beyond our wants. That is the American way....and basically most of us are suckers to it....LOL
Amen
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Old 02-24-2006, 11:37 AM   #81
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Quote:
Originally Posted by Carl Giordano
Johnny-Rotten....that man knows his $hit...I doesn't matter how much you earn it all depends on what you clear and pocket at the end of the day.

Sorry to break the news to you Jhyten..your 3-step guide to to building net worth is long time bull$hit that the banks have used to mask the truth to the middle class in America.

Most people's homes are their largest liability on their personal balance sheet. They owe more than the equity in the house. (and don't compare it to fair market value, cause we all know that house prices have been inflated for the past 3+ years.)

The sooner you reduce your principal balance, the better off you ae on a net worth basis. All these new bank products, (ie: interest only loans, 5/10/5 type lonas...etc) are all bull$shit and are going to have serious ripple effects throughout our economy over the next 5-7 years when the interest only portion of the notes expires and people can't afford to make both interest and principal payments.

And to your 2nd point: Why would you have to foreclose on your home if your don't owe anything on it???? It's a persons inability to service his/her monthly mortgage payments which causes a foreclosure...

Before you start giving out finanical advise...I suggest you get your CFA certificate.

You are a stupid person that doesent understand financial products or process. Before i even start let me point you to a book written by a financial guru that negates everything you said. Hidden wealth 101.

First of all here is why a bank would be more likely to foreclose on someoen who has been paying their house off. If there are two people and one has been paying off his house and only owes 100k and the bank says its worth 200k. The other guy has an interest only loan and is putting the money he "WOULD" have paid toward principal into an interest bearing account. Now both of these guys fall on hard times maybe lose their jobs or whatever. They now cannot pay their mortgage for whatever reason. Person number 1 paying down on his house would be foreclosed upon quicker because the bank can take that house right away and sell it for a profit. Person number two is in a better position. The bank will do everything they can to work with him because the house is not worth anything to them. TRUST me i am in the mortgage business i have seen it happen about 5 times.

Secondly you may say what about the money he has in the home cant he get that and use it? Ummmm no, if he misses a mortgage payment and lost his job he has to go to the bank and say ummmm excuse me can i have some of that money back ive been paying down on my house. Then the bank says "well lets see if you QUALIFY and if you do we will charge you a buncha fees and do a cash out refi" But he usually wont qualify because he doesnt have a job and he missed his last mortgage payment. I have 3 personal clients that this happened to.

Person number two that did not pay down his house and instead invested the difference into an interest bearing account not only can access his money freely AND he doesnt have to pay refi fees. AND the bank will work with him more AND that money that he was investing into the account instead of into his house is earning interest!

If you dont understand those basic concepts you are a stupid piece of trash.
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Old 02-24-2006, 11:42 AM   #82
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I want to clarify that the stuff i am saying would only be for someone who really wanted to take every step possible to maximize their wealth building opportunity. If it makes someone more comfortable to just pay off thier house and they sleep better at night that is fine. I agree with that.

All im saying is that "IF" you wanted to do the absolute best thing to make the most money it is not wise to pay cash for a house or pay your home off.

By the way... who is the network marketer? I was also in network marketing prior to becoming a loan officer. I absolutely loved it and i beleive its the only reason i became succesfull as a loan officer. What company are you in?
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Old 02-24-2006, 12:55 PM   #83
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160k for a loan officer IS a low end salary, LOL.

I make more money then you and your wife, does that make me smarter than you? LOL (<~BTW, this was a joke)

Before you get wise @ss, I don't feel as though money makes one smart or not. It simply means that they have made better choices is all.

ANY good salesman will tell you that they would feel like they have a better shot at selling someone that doesn't have money then someone that does. Why do you think rich people are rich? A: It's because they are smart with their money and B: Because they are fruggle. Poor people are poor because they spend what they make, it's not ALL about the amount of money they make. Someone that makes good money could be poor at the same time.

Last edited by Orange; 02-24-2006 at 01:48 PM.
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Old 02-24-2006, 01:35 PM   #84
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Now about the topic of this thread:

I think that what they make isn't comperable to what their cost of living is... It all sounds good if you do not reside where most of these people do. But when an 800 square foot house in a so-so neighborhood sells for more than 500K an r/c related job will not pay enough to be able to buy that teeny house.

BUT... I have heard what some of these guy's make a month (Again only "heard") and only having to play with toy race cars for that isn't bad $$. Plus if you add in all the travel, free product and contengencies then it isn't so bad for only having to work what, 30-35 weeks a year or so? I wish I could have 5-6 months off a year + when I was working got the chance to do what I love and at the same time travel the country and world.

Last edited by Orange; 02-24-2006 at 01:59 PM.
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Old 02-24-2006, 02:49 PM   #85
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jhyten if you ever talk to me like that again i will come to your work and b!tch slap the sh!t out of you, i come to victorville every two months and i know where you work
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Old 02-24-2006, 03:15 PM   #86
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Quote:
Originally Posted by Jhyten
You are a stupid person that doesent understand financial products or process. Before i even start let me point you to a book written by a financial guru that negates everything you said. Hidden wealth 101.

First of all here is why a bank would be more likely to foreclose on someoen who has been paying their house off. If there are two people and one has been paying off his house and only owes 100k and the bank says its worth 200k. The other guy has an interest only loan and is putting the money he "WOULD" have paid toward principal into an interest bearing account. Now both of these guys fall on hard times maybe lose their jobs or whatever. They now cannot pay their mortgage for whatever reason. Person number 1 paying down on his house would be foreclosed upon quicker because the bank can take that house right away and sell it for a profit. Person number two is in a better position. The bank will do everything they can to work with him because the house is not worth anything to them. TRUST me i am in the mortgage business i have seen it happen about 5 times.

Secondly you may say what about the money he has in the home cant he get that and use it? Ummmm no, if he misses a mortgage payment and lost his job he has to go to the bank and say ummmm excuse me can i have some of that money back ive been paying down on my house. Then the bank says "well lets see if you QUALIFY and if you do we will charge you a buncha fees and do a cash out refi" But he usually wont qualify because he doesnt have a job and he missed his last mortgage payment. I have 3 personal clients that this happened to.

Person number two that did not pay down his house and instead invested the difference into an interest bearing account not only can access his money freely AND he doesnt have to pay refi fees. AND the bank will work with him more AND that money that he was investing into the account instead of into his house is earning interest!

If you dont understand those basic concepts you are a stupid piece of trash.
The fact that your quoting from Hidden Wealth 101 is a complete joke. The author of that trash has made more $$$ selling a get rich scheme thorugh informercials.

Before, calling me or anyone stupid on this forum, I would suggest you read my response in full to my point #2 to your response. I said " Why would you have to foreclose on your home if your don't owe anything on it????

Your hpothetical response to my point does not even address my response.

You have no clue the size of the hornet's nest you've just stepped-in.

I expect an apology and retraction of your comments towards me calling me stupid.
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Old 02-24-2006, 03:46 PM   #87
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Honestly I'm not sure why everyone is getting so heated up over this... The guy works at a small mortgage company that doesn't even have a complete website, employs about 10 people, and his actual title is "Mortgage Consultant" which means he is just another mortgage broker that matches loan applicants to lenders, not exactly rocket science. Also a simply salary analysis shows that a Master Level Registered Nurse makes $69k so if his fiance is close to his age it's just further proof that he is full of sh**. But finally who cares? While the topic of salary for pro drivers is interesting don't let this guy pull you down a rat hole with his bs when he has proven how little he actually knows about rc racing.
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Old 02-24-2006, 03:50 PM   #88
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JHYTEN has unleashed jihad on almost every thread i read totally takes it of topic to the extreme and is getting ego fead by our constant responses lol dam he is good but anoying lol
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Old 02-24-2006, 03:58 PM   #89
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Quote:
Originally Posted by mgtman
JHYTEN has unleashed jihad on almost every thread i read totally takes it of topic to the extreme and is getting ego fead by our constant responses lol dam he is good but anoying lol
Oh no....infiltration of the enemy C'mon guys let's get back to where we are for here: r/c vehicles! Don't care if somebody earns 67k or 25k or like me 125k if you running your car on the track can you see the difference in performance? It is still the man behind the wheel! I've seen highly sponsored guys kicked of the tracks by talented not-sponsored drivers!
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Last edited by MrUnlimited; 02-24-2006 at 04:10 PM.
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Old 02-24-2006, 04:07 PM   #90
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we must seek and destroy him ,just remember its war by deception(must obey the american way) so we have to get something out of it ,hmm hopefully he carries his fat wallet with him then we can all get some hop ups and split it ,who is in
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