Have you owned a business/company?

Not GOP said:
I bought my home before June 2013, on a FHA loan. Which means I can eliminate my mortgage insurance in less than two years, if the principal is 80% or less. That will save over 80$ on my monthly mortgage payment, while still keeping my 3.5% interest rate on a 30 year loan, which I could easily pay off in less than 15
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You can eliminate your mortgage insurance the moment you reach 20%. No waiting needed.... Unless you have a pre-payment penalty.
 
NLXSK1 said:
When I am accepting a request for an inspection, there is nowhere on my paperwork where I ask what race the person is. The only place that is done is the government. Of course on all official paperwork they want to know what race you are. Dont you find that sorta racist?
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why is it racist for the government to keep track of what races live where?

do you have any idea why they even do that?

fuck, as a home inspector, you can't even answer basic questions about what a home's relative humidity should be.

i highly doubt that you are a home inspector.
 
NLXSK1 said:
You can eliminate your mortgage insurance the moment you reach 20%. No waiting needed.... Unless you have a pre-payment penalty.
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With a FHA loan, a person must wait 5 years before eliminating mortgage insurance, regardless of principal still owed.
 
Padawanbater2 said:
I would like to hear anything about owning/operating a business from your perspective

I put this in the politics section to hopefully steer the discussion in that direction

What is your general opinion about your employees, their wages, responsibilities, benefits, or your relationship with them? What do you think about the current tax system and how that affects your business? What kinds of things would you change about your business if you could start over again? How did you get started? How does everyone's favorite plant factor in if at all - Do you do business under the influence? What kinds of aspirations do you have for the future for your business? Or, how have businesses you've owned in the past faced problems or failed?

Or anything else you would like to add
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Why don't you open one. It would be interesting to see if you had a modest amount of success if you could maintain your political views.

It's easy for someone like Zuckerberg or Buffet to be a liberal. But a modest small business might change your mind on a lot of your preferred policies.
 
NLXSK1 said:
They are good. I had a home inspection done on a property I was looking to buy in North Carolina and it turned out there were issues with the basement foundation that would have cost over $10,000 dollars to repair. This was on a $60,000 house!! It is smart to have it done as it can uncover costly issues that you were unaware of.
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Back in the 80s and 90s I was building houses. There were no home inspectors except for municipalities that would do it for code reasons on new construction. I came up with a brilliant Idea. I would inspect houses and charge people for it. I told my father about it. He said it was a stupid idea. That people who buy houses look at it themselves. So I agreed with him.

Stupid mistake. Now it is not only a good idea. It is mandatory to have a home inspection
 
Not GOP said:
With a FHA loan, a person must wait 5 years before eliminating mortgage insurance, regardless of principal still owed.
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If you got a 3.5% APR loan, you're on a roll.

If folks haven't taken this golden opportunity to buy real estate at record low rates with the benny of using someone else's money, they are losers (literally).

....and if you haven 't refinanced that 6.5% note by now........
 
ChesusRice said:
It is mandatory to have a home inspection
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Where? Not in Texas it isn't, then again we don't like others telling us what to do. If the mortgage company, the company financing the deal requires a home inspection like they do with Title Insurance, survey, termite inspection, etc. then that's different. If you want their money, then you gotta pay the man.
 
I forgot.
The one half of 1 percent of people that pay cash for their homes, dont get a title service involved and don't plan on getting insurance. Don't need a home inspection
 
NLXSK1 said:
The last time I paid wages was in the 90's so I have no idea what the corresponding wage would be today. I can tell you that the people that worked for me were hispanic. Most of them spoke little to no english and worked hard for low pay. I appreciate the hispanic work ethic. To be honest it has probably biased me toward hiring a hispanic person more than I would have before the experience. We did start out at minimum wage but nobody working there for over 6 months was at that rate.

There is not much chance of me dealing with the issue in the future, certainly not near future. Home inspectors typically get paid a percentage of the home inspection and it is much better than minimum wage.
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I think all the home inspectors in my area are independent, not employees, so they get the entire fee.
 
ChesusRice said:
I forgot.
The one half of 1 percent of people that pay cash for their homes, dont get a title service involved and don't plan on getting insurance. Don't need a home inspection
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The seller paid for my title insurance, I bought home insurance, a survey, and a home inspection. Not insuring the single largest asset most people own would be foolish.
 
ChesusRice said:
I forgot.
The one half of 1 percent of people that pay cash for their homes, dont get a title service involved and don't plan on getting insurance. Don't need a home inspection
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CheesyO, I paid cash for my Hawaii home and I went to a title company to make sure I have a clean title on the property. And the home inspection was my choice and the insurance. And a survey is also important to me, because I experienced set back problems with one house I was looking at and the owner didn't disclose the set back problem until I discovered it. So you just can't trust anybody.
 
As a former land survey crew chief, I have seen some pretty gnarly issues arise from not having a property surveyed before purchase. Probably the worst was a guy losing a 10' wide strip along what he thought was his east property line. As it turned out, his house well ended up right on the property line. He was lucky enough to have a neighbor that was willing to let the well stay and just adjust his fenceline around it. The guy still 'lost' almost 4000 sq ft of property that he thought was his and had to move a shed.
 
ChesusRice said:
I forgot.
The one half of 1 percent of people that pay cash for their homes, dont get a title service involved and don't plan on getting insurance. Don't need a home inspection
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I thought you were a builder?

For starts, It's not "title service", it's "title insurance", an insurance policy. Financed or cash, there's usually a (clear) Title insurance policy that's involved which involves an extensive records search forward and reverse for past and present liens, encumbrances, property boundary breaches, heirs who got things screwed up when they shouldn't have 60 years ago, etc. All financial institutions are gonna require Title Insurance as they should, it's their money. They don't want to find out there's a mechanic's lien still out there from 50 years ago. And if you paying cash and don't require the seller to pay for a policy, you're stupid. I should know. I recently sold some property, cash deal. Buyer wanted a Title Insurance policy, as he should. I the seller paid for it as is the custom.
 
ThickStemz said:
Why don't you open one. It would be interesting to see if you had a modest amount of success if you could maintain your political views.

It's easy for someone like Zuckerberg or Buffet to be a liberal. But a modest small business might change your mind on a lot of your preferred policies.
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My best friend was a liberal. He started his own business. It is amazing to watch how fast someones views can change ;]
 
ChesusRice said:
Back in the 80s and 90s I was building houses. There were no home inspectors except for municipalities that would do it for code reasons on new construction. I came up with a brilliant Idea. I would inspect houses and charge people for it. I told my father about it. He said it was a stupid idea. That people who buy houses look at it themselves. So I agreed with him.

Stupid mistake. Now it is not only a good idea. It is mandatory to have a home inspection
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He would have told you selling bottled water was a stupid idea too...

You could still become a home inspector. Unfortunately, like other peoples wages the fees have not increased over 10 years so what was once a really great job is a great job when you can keep busy with work.
 
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