What's up everyone. We are doing a contest with T.I. and we are giving away $1200 a day for the next 10 days. Just wanted to give you all a heads up.
https://www.allhiphop.com/ti

Is owning land still a precious commodity w/n the black community?

Recaptimus_Prime360Recaptimus_Prime360 Earned my Masters and Ph.d in Phat Booty-ologyMembers Posts: 64,802 ✭✭✭✭✭
edited August 2011 in Strictly Business
Simple question actually. I know owning land during our ancestors, grand parents, and parents time was something of the utmost importance to have. But does that importance still hold true nowadays? If you were to inherited or bought a piece of land, what would you do with it?

Holla back wit your response.

Comments

  • IshiIshi "You will not be punished for your anger, you will be punished by your anger" Members Posts: 4,649 ✭✭✭✭✭
    edited August 2011
    For me i really don't consider it important. I'm not gonna have kids or any 🤬 like that to pass down but if i came across some land i wouldn't sell one of those things I won't be going out of my way for.

    btw peep ya inbox
  • Idi Amin DadaIdi Amin Dada Members Posts: 3,192 ✭✭
    edited August 2011
    In uncertain financial times, you want to own land. You wanna own real property.
  • DRODRO Members Posts: 9,943 ✭✭✭
    edited August 2011
    of course!... to own anything is great in its self....

    but land is something that you can pass down from generation to generation.. flip it..etc
  • earth two supermanearth two superman ladies please dont fight. E2S is here all night! Members Posts: 17,149 ✭✭✭✭✭
    edited August 2011
    only if it came w/ a mule
  • Platinum FalconPlatinum Falcon Members Posts: 28
    edited August 2011
    darkone360 wrote: »
    Simple question actually. I know owning land during our ancestors, grand parents, and parents time was something of the utmost importance to have. But does that importance still hold true nowadays? If you were to inherited or bought a piece of land, what would you do with it?

    Holla back wit your response.

    I would sell my land to the highest bidder, go find some real-estate (hopefully somewhere in Manhattan) sit on that 🤬 for several years, then buy more real-estate enough where I'm confident enough to drop at least 200g's on some good land and build some sort of attraction, or hotel or something like that...then repeat.
  • traestartraestar Atlantic City, NJMembers Posts: 6,030 ✭✭✭✭✭
    edited August 2011
    In uncertain financial times, you want to own land. You wanna own real property.

    ...................................
  • SionSion Moderator, Legion of Trill, AHH Content Producer, AHH Editor Members, Moderators, Writer, Content Producer Posts: 45,666 Regulator
    It should be but be careful, a home is a liability too & not only an asset. Be sure that if your buying your dream home that ur buying something you can afford.

    I say that currently, if you're trying to buy a home at this moment given the seriously low interest rates you should be looking to get a fixed rate & lock in the current interest rates.

    For those who dont know there are different types of mortgages. (more on this later)
  • TheNeoShellTheNeoShell Members Posts: 93 ✭✭
    I'd say having property is definitely something to have in these times. Of course, it depends on what your perspective and motivations are.

    My brother and I inherited a home from my Grandmother. He doesn't really care for it and wants to sell. We could get a little change, so that's nice. Another option that I'm trying to explain to him is, if we stay the course and pay the house off, we'd be in an even greater position.

    In Virginia, there's property taxes for everything. For this house, the taxes wouldn't be much. And you have the option of paying the taxes quarterly or annually. That being said, once it's paid off, we could rent it out; forever MAKING money from our investment instead of settling for the one off payment.

    Some people don't have interest in handling such a move, but if you do, you'd be setting yourself up to have money being made outside of the job you're physically doing yourself and that interests me a lot.
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