how do gamblers buys home

HoulihansTX · 07-23-12, 05:24 PM

Get a GF with a job.

paranoyd androyd · 07-23-12, 05:25 PM

the good ones? in cash

k13 · 07-23-12, 05:27 PM

They don't.

ngates815 · 07-23-12, 05:27 PM

This is a great place to ask Chips.

Wait for the success stories to start rolling in.

chips1031 · 07-23-12, 05:37 PM

i think purchase a home with all cash will raise some red flag with the IRS. My question is how do you get approved for a mortgage

chips1031 · 07-23-12, 05:39 PM

Originally posted by HoulihansTX

Get a GF with a job.

Would you trust a woman with putting a home that's paid off in her name

BuddyBear · 07-23-12, 05:39 PM

Most are rentors and/or on welfare living with friends. Most gamblers just covering the very basics (e.g. food, clothes, etc...).

Darkside Magick · 07-23-12, 05:39 PM

Originally posted by k13

They don't.

Clap clap

ngates815 · 07-23-12, 05:41 PM

Originally posted by chips1031

Would you trust a woman with putting a home that's paid off in her name

Would you trust a woman period?

I only analy fukk them because
1) I'm a closet faggoeett
2) I don't want my seed inside of them then pay for the next 18 fukkin years.

Bitches be crazy.

J/K, love you wife if you reading this.

HoulihansTX · 07-23-12, 05:42 PM

Originally posted by chips1031

Would you trust a woman with putting a home that's paid off in her name

If you have a chick that is living with you, I hope you are splitting costs.

FreeFall · 07-23-12, 05:48 PM

Why can't they declare their winnings as income and get a house?

wantitall4moi · 07-23-12, 05:52 PM

would be pretty difficult these days but in the past it wasnt too hard. But if a guy is making serious money gambling and wants to live within his means he can still get financed, especially if he is looking to buy somewhere reasonably priced. Most guys should be able to put close to 50% down on a decent home I would imagine most banks would take a chance on that, especially if theyre financing 100-150K or so at the most.

Cash is still king if you show banks a shit load of cash and the ability to put a decent down payment down it would still be pretty easy for most guys.

No different than self employed guys who have always tried to make a go as a declared income type of guy. But gamblers should have a lot more cash on hand to verify their worth.

opie1988 · 07-23-12, 05:53 PM

Speak English motherfukker!!

chips1031 · 07-23-12, 05:58 PM

Originally posted by wantitall4moi

would be pretty difficult these days but in the past it wasnt too hard. But if a guy is making serious money gambling and wants to live within his means he can still get financed, especially if he is looking to buy somewhere reasonably priced. Most guys should be able to put close to 50% down on a decent home I would imagine most banks would take a chance on that, especially if theyre financing 100-150K or so at the most.

Cash is still king if you show banks a shit load of cash and the ability to put a decent down payment down it would still be pretty easy for most guys.

No different than self employed guys who have always tried to make a go as a declared income type of guy. But gamblers should have a lot more cash on hand to verify their worth.

thanks for the info

Emily_Haines · 07-23-12, 05:59 PM

Originally posted by k13

They don't.

is it any coincidence that nevada has the highest foreclosure rates?

chips1031 · 07-23-12, 06:02 PM

the only bad thing is that the areas I'm looking to purchase homes in the price range of 500-700k

ngates815 · 07-23-12, 06:04 PM

Originally posted by chips1031

the only bad thing is that the areas I'm looking to purchase homes in the price range of 500-700k

What's the bad thing?

You can only afford 100K....Try detroit or cleveland.

wantitall4moi · 07-23-12, 06:05 PM

Originally posted by Emily_Haines

is it any coincidence that nevada has the highest foreclosure rates?

mostly because people voluntarily let themselves get foreclosed on because they were so dumb they bought houses past the height of the market. I bought a house in vegas in 99 for about 78K sold in in 05 for just under 340 and it wasnt worth half that, but it was simply a smart sale. I think it is estimated at around 178 right now.

People just went braindead and got caught up in the upswing and got screwed over when the market collapsed. But that still is a good barometer to show 'sharp' guys and suckers. Which I suppose alludes to your point that a lot of suckers were moving to Vegas and trying to buy homes and live there.

But right now there are some places that are worth the money there, of course the big gamble now is that water will be available 20 years from now.

paranoyd androyd · 07-23-12, 06:08 PM

Originally posted by chips1031

i think purchase a home with all cash will raise some red flag with the IRS. My question is how do you get approved for a mortgage

stop being stupid. how much do you clear per year?

chips1031 · 07-23-12, 06:13 PM

Originally posted by ngates815

What's the bad thing?

You can only afford 100K....Try detroit or cleveland.

Why would i live there If you can believe it, 53.6% of all children in Detroit are living in poverty, and only 25 percent of all students in Detroit graduate from high school at this point.

chips1031 · 07-23-12, 06:16 PM

Originally posted by paranoyd androyd

stop being stupid. how much do you clear per year?

40k

ngates815 · 07-23-12, 06:18 PM

You could always try and see if they'll let you do a no-doc mortgage.

Double Bogey · 07-23-12, 06:23 PM

Originally posted by chips1031

40k

Id worry less about buying a house and more on going to jail. If you're pulling in 40k a year and paying zero taxes on it, I would contact a tax attorney and set things right.

Darkside Magick · 07-23-12, 06:30 PM

Never put shyt in your name!!!!!!!!

minet123 · 07-23-12, 06:36 PM

Straight cash baby

indio · 07-23-12, 06:46 PM

Originally posted by chips1031

Without a legiti income and not paying taxes on gambling winnings

What constitutes "legitimate" income? Fact is, you can buy a house with cash and it's nobody's business where the money came from. If some law division wants to charge you with a crime, they need to prove it with evidence in a court of law in front of a jury of your peers. If the IRS wants to charge you with tax evasion, they have to prove you received income without declaring it. (thanks to the efforts of courageous Jim Trafficant)

If money you received as income is traceable, file it on your 1040, and be sure to take your deductions and pay the tax. If money you received is not traceable, then do what you want. Claim it or don't claim it. But don't be so scared of your government and its goons, that you actually think you can't buy a house with real cash money. People do it every day.

Brock Landers · 07-23-12, 06:50 PM

Same as any other self employed person

jjgold · 07-23-12, 07:17 PM

Most gamblers do not own homes because they are flat broke

These thread is very strange

physed · 07-23-12, 08:27 PM

Do what I do. Have a regular job during the day and gamble all night long.

WvGambler · 07-23-12, 08:53 PM

Originally posted by chips1031

Why would i live there If you can believe it, 53.6% of all children in Detroit are living in poverty, and only 25 percent of all students in Detroit graduate from high school at this point.

Thats on you chief. Don't be a shitty parent

robmpink · 07-23-12, 08:55 PM

a nice down payment from parents, give your paycheck to your wife. It will work.

NunyaBidness · 07-23-12, 09:11 PM

Originally posted by chips1031

Without a legiti income and not paying taxes on gambling winnings

Why do you assume it's not legitimate income, and that professional gamblers don't pay taxes?

Went into the bank, filled out the forms, included profit/loss statements from my accountant. Bought the house. Same as anyone else. People ask questions, but mostly because they think its interesting.

Smoke · 07-23-12, 09:18 PM

everyone here still lives with their parents

Inkwell77 · 07-23-12, 09:30 PM

Pay business owner. Launder the money through the business.

He/she gives you weekly/monthly checks as an employee. You establish a form of income that is verifiable.

Buy a house! (I have no idea if these expenses would trump the expenses you would have to pay in taxes, which they may, just throwing the idea out there)