dblburger | Chicago Reader

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Re: “The anti-Trump

Great read, Ben. Thanks-

5 likes, 0 dislikes
Posted by dblburger on 07/25/2019 at 7:59 PM

Re: “Eviction is more than just a bureaucratic process

Re: Will of the people:

'A 2010 survey showed that most Americans' ideal and estimated [what they believe is real] wealth distributions were far more equitable than the actual wealth distribution.' Translation, most people (90% of Americans have average $0 savings) believe (and idealize) that wealth distribution is MUCH more tolerable and gentle than it actually is. https://www.businessinsider.com/income-and…

Re: Tax benefits of owning rental properties:

If you owned one $300k investment condo and made $0 per month after rental income vs. expenses: mortgage, property taxes, utilities, association fees, unit maintenance, etc., you'd still (no matter income) have just over 10k depreciation. Let's say you get to a point where you've generated 100k depreciation across your properties, but still have NO MONTHLY INCOME. Here's the good part. Whatever your job, you were about to pay taxes on $110k. Now, because of your rental properties, you only have to pay taxes on 10k. And if by chance your properties soaked up an extra 10k in decorating and maintenance expenses, or whatever, you wouldn't have any taxable income. Pretty nice, eh? Of course, your spouse makes an income, and you'll have to pay taxes on that. But you get the idea.


As for equity, I assume it's common knowledge how properties generate equity, and how equity is rewarded in the markets when someone goes to get credit, a car, a house or an apartment they need to co-sign for their kids, etc.

1 like, 0 dislikes
Posted by dblburger on 07/11/2019 at 5:27 PM

Re: “Eviction is more than just a bureaucratic process

'I'm not using hyperbole.' - That could be on iac's business card.

1 like, 1 dislike
Posted by dblburger on 07/10/2019 at 7:40 PM

Re: “Eviction is more than just a bureaucratic process

Iac,

If you need someone to explain the tax benefits of owning rental property, or that equity can amass while income piddles, then let's just say you're full of shit or else you keep dim company.

2 likes, 1 dislike
Posted by dblburger on 07/10/2019 at 6:54 PM

Re: “Eviction is more than just a bureaucratic process

Iac,

'I know several people, including two in my family, who own or used to own rental properties in Chicago and elsewhere and not one of them ever made huge money out of it. They all did other things for a living and being a landlord just gave them a fairly small amount extra at most.'

As usual, your habit is to spread misinformation. Anybody who knows anything about rental property knows you can make $0 average per month and still come out well ahead after the tax benefits of owing rental property. And, of course, you can make $0 average per month and still amass equity/wealth.

1 like, 4 dislikes
Posted by dblburger on 07/09/2019 at 3:50 PM

Re: “A tale of two vices

Iac-

2-3%? I had no idea the casualty rate was so high. Can you begin to imagine if 3% of concert goers went deaf? That's 300 in every 10,000! Or the same number was trampled at Soldier Field sporting events? I fear your argument is no argument at all. And again, if 300 of every 10,000 highway motorists were involved in high speed crashes? Nay, I suspect you should try to build an argument more compelling than this. Or else just come out with it already. It will feel so good to finally say it: flushing 3% of patrons down the societal toilet is a very small cost compared to the money generated. Come on, Iac, the mantle awaits. Or is it too big for you?

2 likes, 1 dislike
Posted by dblburger on 06/25/2019 at 1:22 PM

Re: “A tale of two vices

'The only difference is that with gambling there is a slight chance that someone might walk out with more money than they walked in with and that is part of the reason why the activity is enjoyable.'

Jeez, Iac, if you know anything, you know that's the sucker who goes back. Again. And Again. And again, much to his family's horror.

1 like, 1 dislike
Posted by dblburger on 06/24/2019 at 10:15 PM

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