- Joined
- Aug 16, 2020
Not sure if there's anything to this quote.Depending on the situation, that's not a bad thing. Even if the first house is still being paid for, if it can be used as a rental property bringing in income to make up for the mortgage cost that's an investment.
Think about it. Assume it's a mortgage of $2500 a month without a variable interest rate to potentially fuck him later. If he can make that $2500 back in rent, the house is paying for itself now. Without an adjustable interest rate, he can increase that rent over time turning the additional income into profit. 10 years down the road if he's increased rent at 7% plus inflation capped at 10%(that's apparently the law in his state) so lets assume 10 while retaining the same tenants that's now 6477 in rent. Even if he only increases it 5% per year that's still 4126 a month, which is more than enough to pay the mortgage and cover any general maintenance costs that come up.
At that point his current income from streaming isn't paying for the original house, and now his original house can be covering part of the cost of his new one. This is of course also not considering a possible increase in property value for the original house over time at which point he can sell it and pocket even more money after paying off the original mortgage. This is also of course being the most straightforward about it, and not bothering to leverage equity on one property for another which is something else he can do.
Now is Mald actually considering any of this? Fuck if I know, but simply not selling the previous home while buying another isn't an incorrect move by default.
Additionally, I know he had plans of buying one "mod house" for all mods to live rent-free (hellhole) which I'm not sure how that went.
You're right, the real issues with Mald are paying more people than he needs and trying to put $1,000,000 down on a building to house 250+ ferrets. The gravy train is slowing down and 250+ ferrets won't be cheap on top of that.