Jump to content

Western Civilization’s Last Stand

The Art of The Argument

Available Now | artoftheargument.com

Freedomain Radio Amazon Affiliate Links: United States - Canada - United Kingdom

Sign up for the Freedomain Mailing List: fdrurl.com/newsletter

Dylan Lawrence Moore

Member
  • Content count

    745
  • Joined

  • Last visited

  • Days Won

    35

Dylan Lawrence Moore last won the day on February 21

Dylan Lawrence Moore had the most liked content!

Community Reputation

204 Awesome!

About Dylan Lawrence Moore

Contact Methods

  • AIM
    crazyvysty
  • MSN
    arcenez@hotmail.com
  • Website URL
    http://www.crazyrogue.net

Profile Information

  • Gender
    Male
  • Location
    Washington State
  • Occupation
    Vagabond Imitator

Recent Profile Visitors

1865 profile views
  1. Labour for Income

    When I see you pull a Buckminster Fuller, I'll acknowledge you know what you're talking about.
  2. Labour for Income

    I need 7 homes. Around the world.
  3. Labour for Income

    What's to stop everyone from ordering every item available on earth instantly?
  4. How to Deal with Narcissists

    Annnd.... that summed my video up in one sentence.
  5. Mortgages are bullshit!

    I don't know about Kiyosaki's scams, but his book Rich Dad Poor Dad was the first step in helping me change the way I think about money and wealth.
  6. Mortgages are bullshit!

    NOOOOOOOOOO!!! You need to refinance and work 8 jobs to pay for it!!!
  7. Mortgages are bullshit!

    Crazy what a little arithmetic can do, isn't it?
  8. Mortgages are bullshit!

    Welcome. Like I said in the video, there's nothing wrong with a mortgage as long as you use it correctly and understand what you're getting yourself into. It's a great tool for getting into a house. As far as I can tell, there are two big issues to deal with: first is the 30 year mortgage. If you play with a mortgage calculator, you'll find that the interest totals aren't that bad until you start getting into the 20+ year range. 30 years REALLY stretches that interest out. The impact of my video would have been minuscule if we most of us still used 15 or 10 year mortgages. Second, as was one of the main points of the video, people have a tendency to keep refinancing themselves into the "expensive principal zone". One thing I've heard, and I agree with this, is that a huge problem with the way banks make mortgages is that they take your GROSS income instead of your NET. Additionally, because most people will "get the most they can afford" (at least the people in my life lived that way), they crank up the debt level just to where they can barely handle it. What happens then is any negative change in their income destroys their standards of living. All this can be largely avoided by a little self-awareness of what you know you can handle financially, and not just let the bank tell you "what you're able to get". I would start studying RIGHT NOW. Remember, just because people set themselves up to be slaves to their mortgage payments doesn't mean you have to. Working your ass off and saving for 30 years isn't the best way to get into a house. Even if you don't plan on living in the city you live in now, what if you bought a house, then threw in a renter when you moved? Then the renter makes the mortgage payment and you have someone else building up your equity. Hell, you could even just buy the house and never move into it to begin with. Let the renter make the mortgage payment from the beginning. Like eschielder mentioned at the beginning, if you're just looking at your cash stream, you don't really care what the interest payment is as long as you're positively cashflowing every month. Just try to get out of the "expensive principal zone" as fast as you can.
  9. Mortgages are bullshit!

    Seattle is the hottest market in the US right now. East Asian influx, Amazon and Google keep growing, Microsoft and Boeing are here, too. Drive across the mountains into eastern WA and the housing prices are like 1/5 that they are on this side. Just start making them. Fuck up and call it practice.
  10. Mortgages are bullshit!

    Yea I live about an hour out of Seattle. Go inside Seattle and the prices start to look more like what you said about Sydney. Thanks! For this video, the beginning was scripted and I followed a fairly strict outline. Generally I have to do an outline because I have a hard time getting to a conclusion without one. I never, however, stick to the script or the outline. I'm always adjusting it as I go.
  11. Mortgages are bullshit!

    For fun? Oops. I always screw that one up. And you do? Completely agree. Nothing here contradicts what I said in the video. They are increasing cashflow, yes. But if they just keep reverting their payments to consist of 80% interest and 20% principal, over the long-term, they are not. The important thing is the consumer being aware of what they prefer. This is why I specifically say in the video: do the math and ask yourself, "Am I really saving money?" And vast majority I meet don't. Thus I made a video. Completely agree. Nothing here contradicts what I said in the video. I literally said "a mortgage is just a tool" in my video. That's... kind of the whole point of the video. Guess I'll have to tell that to all the people who have thanked me for helping them understand mortgages better.
  12. Mortgages are bullshit!

    Have you ever met someone who never realized how much the interest adds up to in a loan? I have met many. This video is aimed at them, not savvy investors. I don't understand your logic. If I'm liable, per the terms of the written agreement, for $778k, why can I not consider it a $778k debt instrument? I find the $400k to be misleading, especially as people rarely read the Truth in Lending papers that show the payment breakdowns.
  13. Mortgages are bullshit!

    Definitely to all that. It doesn't contradict anything I said in the video. Notice I never said a person shouldn't get a mortgage, or should never refinance. Cashflow is indeed the name of the game, but most middle class don't think that way. They think they're saving money refinancing every 5-7 years to get a lower interest rate/lower monthly payment/wrap up the credit card debt into the loan--which was the main thing I intended to address in the video. (Title of video is purposefully inflammatory.)
  14. Mortgages are bullshit!

    That definitely works, but there are better ways to do it. The video wasn't about how to pay mortgages off faster, it was simply showing how much people pay 80% interest their whole lives because they don't understand how mortgages work.
  15. Mortgages are bullshit!

    If I told you that you paid 80% interest on your mortgage, would you believe me? Practical defense tactics against the dark banking arts. You will probably lose some sleep over this one. (Information applies the same to student loans.)
×

Important Information

By using this site, you agree to our Terms of Use.