Any of you drivers out there without property?

...ends up making is so the only people who can profit are the ones with stable income.[/QUOTE]

Or the ones who aren't in debt up to their eyeballs in needless debt just so they can get a tax break.that's how people make it to the stable income. They don't spend money they make just cause everyone else says do this or that to keep money from the government. Taxes to these people are a mild nuisance to someone who knows where to put their money. Houses are great if you live in the house. And able to manage it right. They become a nightmare when it's just done carelessly just cause.

This is how the banks got in trouble and this is how the masses fell for it and lost homes and went broke.

 

I must say, I like how you have just brushed over the other benefits of doing something like this. Taxes make for a short-term and not permanent benefit.

while this may seem harsh, those who take action because another tells them to and they do not do their own research are fools. To follow advice of any kind, good or bad, without doing your own research for your circumstances is just plain stupid. We see this evidenced primarily in people who go and work for bottom feeder companies.

None of us have ever said that everyone should do this. Anyone who reads this and does not realize on their own the great wrists they will take, does not need to be in the trucking industry northern do they need to be investing Using a high risk method of investment.

people got into, and are still getting into, Financial trouble because they are incapable of living within their means or took advice blindly.

You are correct that the simplest, and least risky way of doing things is to rent an apartment. But renting does not provide equity, financial stability, or much of a plan for the future.

 

No one said he has to rent the rest of his life. Just while he is on the road miles away from place he decides to call home. Trying to truck and run things in the vicinity of truck is important enough than to compound things with a place he does not need to buy to complete what he is trying to do.

you say people got into financial issues by living above their means. Well going in to debt is living above ones means. They don't have the money to get what they are buying with credit. This includes our imaginary house or whatever op asked about. Buying a house with debt is living above and beyond his means if he doesn't have the cash to pay it off when he buys it.

I didn't brush over any "benefits". If it's so dangerous for someone to go to a bottom feeder it's ultimately and even more so dangerous to buy a house without even needing to to accomplish op personal goals while he is away from said property while he is trucking. All the cost of owning falls on his shoulders. One bad month, one bad year, one bad set of years, can destroy and bankrupt op. It's not worth it and then he will be one of these people who you spoke about who was stupid and apparently didn't do his research or so it seems to us by looking at the fall out.

 

Seems the trick with anything though is all the same. I'm sure you know the song, so I won't sing it for you. But, you got to know when to hold them, know when to fold them, know when to walk away, and no when to run… Getting in, usually that's the easy part. Getting out on the other hand, well that ain't so easy.

It's true, unless you have the money to buy a house out right then you are in effect living beyond your means. There is, as with anything, a certain balance that must be maintained. If he has a bad year, then what matters is if he can make it through to a better year. But, that goes back to Kenny Rogers…

 

You don't need to worry about the value of the house unless you're selling. we are renting a house out right now in the Detroit area for $800 a month, it's property value is $2 who cares, it's profitable and that's all that matters.

Arbitrage is what you do when there is a mortgage attached. They pay your mortgage, property taxes, renters insurance, etc PLUS profit on top.

 

the bad year wouldn't be magnified if he didn't leverage his life on a home he doesn't need to come out trucking. He can rent and do all that he wants just the same. Then when he is done he can buy a house and not have to worry about anything going wrong compared to if he weren't around if things did go wrong with a debt he didn't need on a house he didn't need causing stress and more work he didn't need.

 

Hey! UKJ, did CR England penalize you for not training or doing a lease? I thought they only less sending your miles! 0.25 cents per mile? Ouch. I'll pay you .5 cents per mile to work for me! And, to top it off, I won't even make your train anyone! LOL

You're right about the responsibilities of a house, and renting, being great and adding to a potential he already strenuous workload. As I've said another posts, doing that is not for everyone. For that matter, neither is renting a home. This is where what I was saying earlier comes into play. It is up to the OP, and subsequently any others following this topic that are interested, to do the research on their own and find out what fits in for them.

Were it my choice, and I had a steady income, I would opt to buy and rent out a home. If I can find a nice duplex, I probably will do just that. However, I'm also the type that likes to try and be prepared for nearly anything. So if I have an opportunity to prepare for something that I may be able to capitalize later on, in my personal opinion I would be foolish not to take fat chance if I were to educate myself about it. It's equally foolish though, to jump in headlong either uneducated or without a plan.

Both sides of the argument have their merit. And to each person they will have their own meaning.