March 25, 2019, 01:01:00 AM


Author Topic: Ways to grow savings? Investing? Passive Income? Cryptocurrency?  (Read 6818 times)

Offline TexasChicken

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Re: Ways to grow savings? Investing? Passive Income? Cryptocurrency?
« Reply #40 on: December 22, 2018, 12:23:22 PM »
Is LENDIT regulated by the government at all?

Offline SPQR

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Re: Ways to grow savings? Investing? Passive Income? Cryptocurrency?
« Reply #41 on: December 23, 2018, 07:53:15 AM »
Buy real estate.  I bought a 440,000,000KRW apartment in November.  Financed
the max out of it. (like 2/3 the asking price) Now the real estate agent told me
they have offers of 480,000,000KRW on same models.

So, I made 40,000,000KRW in a month.  Merry Christmas!

Online Lazio

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Re: Ways to grow savings? Investing? Passive Income? Cryptocurrency?
« Reply #42 on: December 23, 2018, 01:38:41 PM »
Buy real estate.  I bought a 440,000,000KRW apartment in November.  Financed
the max out of it. (like 2/3 the asking price) Now the real estate agent told me
they have offers of 480,000,000KRW on same models.

So, I made 40,000,000KRW in a month.  Merry Christmas!

What area is that if I may ask?
Now that the government has recently introduced a range of policies in order to cool down the real estate market, it seems like it's working. On top of these, the recent base rate hike by the Bank of Korea made mortgages even more expensive. So not only mortgages are more difficult to get, but they are more expensive as well. Thanks to all these, real estate prices have stopped rising and started going down a bit in many areas exactly since November. That is why I'm curious to hear where were you able to gain 10% in one month while pretty much the opposite is happening everywhere.

Offline alexisalex

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Re: Ways to grow savings? Investing? Passive Income? Cryptocurrency?
« Reply #43 on: December 23, 2018, 01:45:12 PM »
Is LENDIT regulated by the government at all?

Unfortunately I don't know.  But I would guess that peer to peer lending is not regulated as closely as it should be.

An English version of their site would have been nice haha. 

Offline SPQR

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Re: Ways to grow savings? Investing? Passive Income? Cryptocurrency?
« Reply #44 on: December 23, 2018, 04:41:03 PM »
Buy real estate.  I bought a 440,000,000KRW apartment in November.  Financed
the max out of it. (like 2/3 the asking price) Now the real estate agent told me
they have offers of 480,000,000KRW on same models.

So, I made 40,000,000KRW in a month.  Merry Christmas!

What area is that if I may ask?
Now that the government has recently introduced a range of policies in order to cool down the real estate market, it seems like it's working. On top of these, the recent base rate hike by the Bank of Korea made mortgages even more expensive. So not only mortgages are more difficult to get, but they are more expensive as well. Thanks to all these, real estate prices have stopped rising and started going down a bit in many areas exactly since November. That is why I'm curious to hear where were you able to gain 10% in one month while pretty much the opposite is happening everywhere.

Incheon.  Rate is 3.25% fixed for 5 years.  Got in just before the new laws.
Don't even know what they are. IMHO the previous owner sold too low. Also,
I wouldn't put too much faith in what the Korean government can do to effect
macro policy.  Seems to me they have no clues whatsoever about economics.

Online Life Improvement

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Re: Ways to grow savings? Investing? Passive Income? Cryptocurrency?
« Reply #45 on: December 23, 2018, 04:56:46 PM »
real estate prices have stopped rising and started going down a bit in many areas exactly since November. That is why I'm curious to hear where were you able to gain 10% in one month while pretty much the opposite is happening everywhere.

One possibility is what the real estate agent told him was not true. Just fibbed to get a good reputation, meaning more customers, meaning more money. Not saying that's what happened, but real estate agents, like used car salesmen (and recruiters), have a reputation for being dishonest. The profit incentive to lie is simply too great. Taking what they say as fact could be dangerous.

Online Lazio

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Re: Ways to grow savings? Investing? Passive Income? Cryptocurrency?
« Reply #46 on: December 23, 2018, 05:55:23 PM »
real estate prices have stopped rising and started going down a bit in many areas exactly since November. That is why I'm curious to hear where were you able to gain 10% in one month while pretty much the opposite is happening everywhere.

One possibility is what the real estate agent told him was not true. Just fibbed to get a good reputation, meaning more customers, meaning more money. Not saying that's what happened, but real estate agents, like used car salesmen (and recruiters), have a reputation for being dishonest. The profit incentive to lie is simply too great. Taking what they say as fact could be dangerous.

Well, it only takes a few clicks on the internet to see the asking prices in any apartment complex. The same way one can also check what the apartments were actually sold for. Realtors might lie about other things but they can't lie about the prices because literally everyone knows them.

Offline PatrickBateman

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Re: Ways to grow savings? Investing? Passive Income? Cryptocurrency?
« Reply #47 on: December 23, 2018, 08:12:23 PM »
Wow. You are a dense adult.  You haven't made anything until the money is in your account.  You are speculating that it went up 40M..  If you can get that sell immediately.  A big crash is coming to the market and these overpriced concrete boxes will lose half their inflated value.  You heard it here first.

Telling people to buy real estate is reckless.  I'd buy Bitcoin before I bought a shitbox apartment.

https://seoul.craigslist.org/reb/d/nice-2-bedroom-apartment-for-sale/6754824525.html

640M for a 2/1  800 sqft shitbox with no balcony, nothing....Ha s a fooking washer in the kitchen!!! No dryer. Lmao    yet the rent is 1.9m     The rent is so low compared to the sale price.  Even at a 30yr fixed at 4% the monthly mortgage would be over 3m....    not including any fees,tax, and so on.   This is the same everywhere.  This just shows people got these on interest-only loans so they can just speculate that it only goes up...  When the music stops and people can't pay back loan we'll have an implosion like what happened in the USA market.

« Last Edit: December 23, 2018, 08:14:26 PM by PatrickBateman »

Online Savant

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Re: Ways to grow savings? Investing? Passive Income? Cryptocurrency?
« Reply #48 on: December 23, 2018, 08:36:07 PM »
Wow. You are a dense adult.  You haven't made anything until the money is in your account.  You are speculating that it went up 40M..  If you can get that sell immediately.  A big crash is coming to the market and these overpriced concrete boxes will lose half their inflated value.  You heard it here first.

Telling people to buy real estate is reckless.  I'd buy Bitcoin before I bought a shitbox apartment.

https://seoul.craigslist.org/reb/d/nice-2-bedroom-apartment-for-sale/6754824525.html

640M for a 2/1  800 sqft shitbox with no balcony, nothing....Ha s a fooking washer in the kitchen!!! No dryer. Lmao    yet the rent is 1.9m     The rent is so low compared to the sale price.  Even at a 30yr fixed at 4% the monthly mortgage would be over 3m....    not including any fees,tax, and so on.   This is the same everywhere.  This just shows people got these on interest-only loans so they can just speculate that it only goes up...  When the music stops and people can't pay back loan we'll have an implosion like what happened in the USA market.

You can mention implosion of the housing market but recommend buying bitcoin? The bitcoin hype has come and gone.

Here, how much for these magic beans?

As for your craigslist's posting. Tip: don't buy apartments through craigslist.

We bought our 3-bedroom apartment for 350 million last year, and now apartments are being sold in our complex for an average of 415 million.
« Last Edit: December 23, 2018, 08:44:41 PM by Savant »

Offline PatrickBateman

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Re: Ways to grow savings? Investing? Passive Income? Cryptocurrency?
« Reply #49 on: December 23, 2018, 08:46:35 PM »
Wow. You are a dense adult.  You haven't made anything until the money is in your account.  You are speculating that it went up 40M..  If you can get that sell immediately.  A big crash is coming to the market and these overpriced concrete boxes will lose half their inflated value.  You heard it here first.

Telling people to buy real estate is reckless.  I'd buy Bitcoin before I bought a shitbox apartment.

https://seoul.craigslist.org/reb/d/nice-2-bedroom-apartment-for-sale/6754824525.html

640M for a 2/1  800 sqft shitbox with no balcony, nothing....Ha s a fooking washer in the kitchen!!! No dryer. Lmao    yet the rent is 1.9m     The rent is so low compared to the sale price.  Even at a 30yr fixed at 4% the monthly mortgage would be over 3m....    not including any fees,tax, and so on.   This is the same everywhere.  This just shows people got these on interest-only loans so they can just speculate that it only goes up...  When the music stops and people can't pay back loan we'll have an implosion like what happened in the USA market.

You can mention implosion of the housing market but recommend buying bitcoin? The bitcoin hype has come and gone.

Here, how much for these magic beans?


It's was a bit of hyperbole..    I already made myself semi-retired from BTC/ETH so I'm a happy camper.  Definitely not using that money to "invest" in the housing market here.  No better than the BTC ponzi..  Just kicking the speculative can down the road for another guy to buy at a higher price.. At least it's a place to live so somewhat better. 

Online Savant

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Re: Ways to grow savings? Investing? Passive Income? Cryptocurrency?
« Reply #50 on: December 23, 2018, 09:12:32 PM »
Wow. You are a dense adult.  You haven't made anything until the money is in your account.  You are speculating that it went up 40M..  If you can get that sell immediately.  A big crash is coming to the market and these overpriced concrete boxes will lose half their inflated value.  You heard it here first.

Telling people to buy real estate is reckless.  I'd buy Bitcoin before I bought a shitbox apartment.

https://seoul.craigslist.org/reb/d/nice-2-bedroom-apartment-for-sale/6754824525.html

640M for a 2/1  800 sqft shitbox with no balcony, nothing....Ha s a fooking washer in the kitchen!!! No dryer. Lmao    yet the rent is 1.9m     The rent is so low compared to the sale price.  Even at a 30yr fixed at 4% the monthly mortgage would be over 3m....    not including any fees,tax, and so on.   This is the same everywhere.  This just shows people got these on interest-only loans so they can just speculate that it only goes up...  When the music stops and people can't pay back loan we'll have an implosion like what happened in the USA market.

You can mention implosion of the housing market but recommend buying bitcoin? The bitcoin hype has come and gone.

Here, how much for these magic beans?


It's was a bit of hyperbole..    I already made myself semi-retired from BTC/ETH so I'm a happy camper.  Definitely not using that money to "invest" in the housing market here.  No better than the BTC ponzi..  Just kicking the speculative can down the road for another guy to buy at a higher price.. At least it's a place to live so somewhat better.

The housing market was hugely speculative but after the government introduced the "no selling for two years after buying, raised the tax for multiple home owners and designated speculative areas then it's kind of improved. We bought in a non-speculated designated area though we live in the next area up from one of those zones. I think that has helped drive prices in our area.

sligo

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Re: Ways to grow savings? Investing? Passive Income? Cryptocurrency?
« Reply #51 on: December 23, 2018, 11:39:36 PM »
Buy real estate.  I bought a 440,000,000KRW apartment in November.  Financed
the max out of it. (like 2/3 the asking price) Now the real estate agent told me
they have offers of 480,000,000KRW on same models.

So, I made 40,000,000KRW in a month.  Merry Christmas!

My understanding was that if the property was sold within 2 years of purchase, the capital gains tax was 60%.  So, if you sold it, that 40m won would be more like 16m, and then you have all the fees, so you would be up 10m or so max.  A good months work, but not one to brag about!  And as someone mentioned, you have only made 40m won, when someone gives you 40m won!

Offline SPQR

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Re: Ways to grow savings? Investing? Passive Income? Cryptocurrency?
« Reply #52 on: December 24, 2018, 06:23:56 AM »
Buy real estate.  I bought a 440,000,000KRW apartment in November.  Financed
the max out of it. (like 2/3 the asking price) Now the real estate agent told me
they have offers of 480,000,000KRW on same models.

So, I made 40,000,000KRW in a month.  Merry Christmas!

My understanding was that if the property was sold within 2 years of purchase, the capital gains tax was 60%.  So, if you sold it, that 40m won would be more like 16m, and then you have all the fees, so you would be up 10m or so max.  A good months work, but not one to brag about!  And as someone mentioned, you have only made 40m won, when someone gives you 40m won!


Oh, me! Oh, my!  You guys are right.  What keen, analytical minds you must have.
I should have bought cryptocrap or just saved a month's wages.  What a dullard I've been!
How can I compete against such intellects! Next time I'll think it through more carefully.

Hahahahah

MERRY CHRISTMAS!



Offline alexisalex

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Re: Ways to grow savings? Investing? Passive Income? Cryptocurrency?
« Reply #53 on: December 24, 2018, 08:57:29 AM »
Remember, on the internet nobody knows you're a dog so I'd take these stories of imagined riches with a grain of salt.

Offline MaximusPrime

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Re: Ways to grow savings? Investing? Passive Income? Cryptocurrency?
« Reply #54 on: December 24, 2018, 11:57:18 AM »
Housing really depends on the area. As mentioned, the new laws and such put in place by the gov't have made it much more difficult and expensive. Gf is renting a few places and it's about half and half. Some have gone up 10-15k but some have also gone down 10-15k. Then add in all the other stuff you need for upkeep and fees. Market is shit right now IMO.