I tired of Banks my experince with nyc high value Property

[tjtonmoy]

My conclusion is i'll just make Even better money with staking smart way dca % cryptocurrency.

Cryptocurrency should never be your only choice if you want to be a successful businessman. Just because of one shit deal, you can not turn your face from real estate. There are people who are still making a good amount of profits from this. This is why you need to ask people who are successful in that section. They will be able to give you the best advice and show you some shortcuts and secrets that will help you to get better results.

I am not against cryptocurrency or anything. I am also an investor in crypto. But why stop there? If there's an opportunity, why not take that? The key is to keep trying. You can not find the best deal on your first try. Or the deal that will suit you. In order to find one, you will have to keep searching and approaching people for advice. You can buy cheap land that could have the potential to grow in value in the future. Or you can also make profits in the future by selling it.

My point is, don't stop on one thing when you can do many more. Keep trying till you achieve success.

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[dothebeats]

Much like what the others have already stated, banks are also businesses that seek to make a profit but also retain their clients. The 40% downpayment is probably due to a bad/low credit score that you have, or you probably just have a default one. If you cannot afford to give the 40% downpayment (which, if I am in your shoes I also wouldn't agree to it) you can try for a different property wherein they can offer you a lower downpayment. Or you can always try for a different bank because there are cases where other banks offer a different contract that might suit your financial conditions. Either way, they will always ask for a downpayment as collateral. It's been like that for so long so I'm not really surprised that they are doing so.

[michellee]

Banks make profits from debt, which has been happening for a long time to make it big. Those of us who want to take housing have to owe them money so they can get the interest. Well, it doesn't make sense but that's how it happens and we can't deny it.

If you want to buy a house, maybe you don't need to buy it through a bank. I see there are lots of offers from people because they are also selling their houses so you can make transactions with them even though, in the end, you still use the bank to transfer the money.

However, housing prices are declining due to a problematic economy, so it may not be profitable for a certain period. And if you can choose Bitcoin as your investment, you can certainly make much greater profits than if you invest in property. But you should think about everything first before making a decision and don't rush into making a decision.

[Sim_card]

Banks don't care about your feelings mate, because they are out for business, or do you think that they care about how you feel towards their service..NO. Let them be since you can't meet up to the loan requirement. It is better that you invest in bitcoin like you said and DCA when possible, because this is the only way you can avoid bank craps and make profit at the long run. Bitcoin gives you the privilege for you to be your own bank. Our traditional banks are extorting customers in every angle of their service to customers. I am not surprised but we still need them and we can't do without them, maybe this is the reason why banks do whatever they like.

[Gozie51]

My conclusion is i'll just make Even better money with staking smart way dca % cryptocurrency.

It is not just to DCA on cryptocurrency but what coin in particular is what matters because you could invest in shit coins and that leads you into regret.

I still prefer investment in property. Although the percentage interest of 40% is high but it depends on what value you have to offer in the business. Banks tend to increase their interest percentage if they don't see much value in your offer or they also use interest rate to scare you off from the business. But if you can, I would encourage you to invest in properties because it helps your retirement when you don't have strength for physical work anymore, you can rely on it and its durability is more higher than most investment you can think of.

[indo1]

I think banks do have personal benefits for their business. Unless you are an investor there, if you are just a customer, maybe you will only get an offer from their business model. but don't worry, I'm sure you are on this forum, which means you know how much potential crypto has now. You have to take advantage of it to not lose out to the business owned by the bank. even if individually it is not as big as a bank, but personally you get a lot of benefits.

[Fortify]

They don't give you nothing they get profit and they don't help with innovation.
And speciaially the big ones what they do is just they want you to have a lot liabilities responsebilities and a lot things you need to pay.
And instead of providing money for business mind people like me they just don't care about what is the idea but all they want is me to pay them.
Yesterday i was talking with one of the biggest USA bank they told to me i have to put down minimum of 40% down payment for buy to rent Property purpose of loan.
We has discussion about one of the condos apartments in park Ave area and 56 west so there is best area.
First of all i said i will never Ever pay that kind of % for the mortgage that's insane.
Second point is the pieace of land and a lot of glass with concrete not worth that much of money i would take risk.
Third, point i asked the proper construction building assestment scheme so i will see all the faults in Property aswell and off course they refused.
But i know it's a crap and i'll make my offer that i want they are not gona sell to me their crap with most expensive price Im here to make money and earn profit not to be the one who will put all my time and efforts for nothing Im businessmen my purpose of existence is to earn profit
The high end Property been pumped up hyped up and im not going to be bag holder...i don't follow this nonsense story like If you buy value Property it Will always going up and you hedge so that's what the rich people do this what i say "...just because you are rich doesnt mean that you are strong on finances and money you could be easy food for the bankers.


My conclusion is i'll just make Even better money with staking smart way dca % cryptocurrency.

The thread title seems to suggest that you're talking about New York City property, but then the rest of your message is such rambling garbage it's hard to understand. The top cities in any country always have the highest property prices and it is hardly a surprise for anyone who would be taking out a mortgage in the area. As you've identified, they don't have any interest in gaining your business because you are just a high risk to them and you're unlikely ever to be able to pay off a mortgage in that location if that is your grasp of the English language. Nor do you need to buy a property in such a place, America is a vast place and you'll find cheaper property in many different areas, so adjust to that reality.

[Dr.Bitcoin_Strange]

My conclusion is i'll just make Even better money with staking smart way dca % cryptocurrency.

DCAing cryptocurrency or Bitcoin? The DCA strategy is mostly used while investing in Bitcoin because it's the only crypto asset that doesn't have a pump and dump algorithm like altcoins. Also, lots of those altcoins in the market are so cheap and you don't even need to use the DCA strategy in order to invest in them.  Let's take for example you are DCAing a token that is trading for  about   $5, but as you keep DCAing, the price keeps dropping until  it finally falls to $0.8 which was never going to see another pump of even up to $2, that means you just lost your investment.

[Casdinyard]

buying properties in New york is one of the worst things you could do to yourself.

People are already catching up to the news. New York's not the concrete jungle it was made out to be. No innovation, the whole city's sinking every year, stupendous prices for rent which no one in their right minds will pay except out of desperation, rats everywhere, and the general fact that NYC isn't the most hospitable or habitable city on the planet. I say if you're really into real estate invest in those that are at the country side, never in crime-dense areas. Do yourself a favor and pull out of that investment (I know it's your own money and I have no rights to ever influence you but NYC is a massive honey trap you shouldn't be falling for). Otherwise you're practically commiting to losing everything over time.

[Silberman]

The thread title seems to suggest that you're talking about New York City property, but then the rest of your message is such rambling garbage it's hard to understand. The top cities in any country always have the highest property prices and it is hardly a surprise for anyone who would be taking out a mortgage in the area. As you've identified, they don't have any interest in gaining your business because you are just a high risk to them and you're unlikely ever to be able to pay off a mortgage in that location if that is your grasp of the English language. Nor do you need to buy a property in such a place, America is a vast place and you'll find cheaper property in many different areas, so adjust to that reality.

We also need to take into account the general area where we want to buy our property in order to understand the attitude of banks and realtors, when we are talking about such a exclusive area in which prices are some of the highest you can find all around the world then they can get away with being extremely cocky, as the main reason people are buying into those expensive areas is to show their wealth, so it is natural the OP encountered such a reaction and no one wanted to negotiate with them as there will always be someone else willing to buy the property and accept all their conditions.

[legendbtc]

My conclusion is i'll just make Even better money with staking smart way dca % cryptocurrency.

DCAing cryptocurrency or Bitcoin? The DCA strategy is mostly used while investing in Bitcoin because it's the only crypto asset that doesn't have a pump and dump algorithm like altcoins. Also, lots of those altcoins in the market are so cheap and you don't even need to use the DCA strategy in order to invest in them.  Let's take for example you are DCAing a token that is trading for  about   $5, but as you keep DCAing, the price keeps dropping until  it finally falls to $0.8 which was never going to see another pump of even up to $2, that means you just lost your investment.

So what about altcoins like ETH or BNB? Is it true that as you said, has ETH ever been dumped and never returned to its old ATH? Not all altcoins are useless or not worth investing in and DCA. Bitcoin is not the only profitable investment in this market and the rest are useless. Although altcoins have more risk, in return you cannot deny that their profits will be more significant than BTC brings. Do you dare bet with me, if you buy BTC from the bottom and I buy ETH during this bear season? I'm pretty confident that my profits will be higher than yours in the upcoming bull season. When talking about the risks of altcoins, we should not imply all of them because there are some that are worth investing in.

[el kaka22]

Banks are a business model, the idea is not that bad and it could have done a lot of good for the people, it allows the ones that have too much to put in the bank and make a profit, and the ones who do not have enough to take and pay back a bit more to make the ones who give them the money a bit of profit.

This way everyone benefits from it and it works as intended. Long time ago banks realized that they could make a lot more profit if they stretch it bigger, like you give them 100 dollars, they loan that same 100 dollars to 10 different people to make a profit, that way while they pay you 5 dollars in profit, they get 50 dollars in profit themselves. This caused a lot of trouble for everyone and got them very rich.

[karabiber]

They don't give you nothing they get profit and they don't help with innovation.

Banks are profit making companies. Bank does not have a factory. A bank's factory is its balance sheet, which functions by lending out the deposits it collects. The bank has to make money and profit from this core business and its subsidiary businesses so that it can grow its capital and collect more deposits and lend more money.

It is useful to add a little macroeconomic information here. When banks are not making profits, their capital cannot grow and banks cannot grow their balance sheets. In an environment where the banking sector is not growing, companies cannot find the financing they need to grow or individuals cannot get consumer loans to buy houses, cars, vacations, technological devices and the like. As a result, the economy becomes more dependent on foreign funding. Therefore if you want to live without making money for the bank, you can live without using banks, but when banks are used, it is natural to know that the bank has various intermediation revenues in return for the services received from banks and to act accordingly.

[dezoel]

A lot of people think that banks are there for us and to provide us with benefits, I know that we get to use their services and we need those services, but we are in no way getting any benefits from the banks, instead, they are using us to earn billions of dollars every year, and where does that money come from? From us, of course. We give them our money to keep and they use that money on loans and other stuff and earn money on that, and what do we get for that? Barely 10% of our money a year.

This is the biggest reason why banks and financial institutions find Bitcoin and cryptocurrencies as a threat because they know if people start taking their wealth from them into Bitcoin and cryptocurrencies, they will have a hard time since it's the money they get from us that they use to earn revenue.

[icalical]

And instead of providing money for business mind people like me they just don't care about what is the idea but all they want is me to pay them.

After all they are a business, they need to pay their employee and they need to make money to survive, and their main business is loan, so yeah they provide you money but they will take advantage of it.

Yesterday i was talking with one of the biggest USA bank they told to me i have to put down minimum of 40% down payment for buy to rent Property purpose of loan.

I don't know how the credit/mortgage system work in your country, but from where I came from. If you put more down payment, you will have lower total interest, and if you want to want to get the lowest possible down payment you need to have a good credit score. You should check whether that 40% down payment actually give you lower total interest that you need to pay or not, if yes then the bank is actually helping you.

[dothebeats]

And instead of providing money for business mind people like me they just don't care about what is the idea but all they want is me to pay them.

After all they are a business, they need to pay their employee and they need to make money to survive, and their main business is loan, so yeah they provide you money but they will take advantage of it.

Yesterday i was talking with one of the biggest USA bank they told to me i have to put down minimum of 40% down payment for buy to rent Property purpose of loan.

I don't know how the credit/mortgage system work in your country, but from where I came from. If you put more down payment, you will have lower total interest, and if you want to want to get the lowest possible down payment you need to have a good credit score. You should check whether that 40% down payment actually give you lower total interest that you need to pay or not, if yes then the bank is actually helping you.

I was thinking the same, perhaps OP's credit score is not that good hence the 40% down payment requirement. Moreover, you're right about the interest system, at least in my country. Hence, I suggested to OP about trying other banks as they may offer OP something different. OP needs to understand that banks are businesses as well hence they have to ensure that they will have profit and leverage, they need to be sure that thier clients will pay them hence the downpayment.

[Macoach]

Recently, many threads on this forum have criticized banks, and it seems like no one is coming to their defense. Banks have indeed made significant contributions to the overall development of the world, generating substantial revenues for governments. They have also supported many successful entrepreneurs through loans, which has played a crucial role in economic growth.

When it comes to cryptocurrencies, it's essential to consider what they contribute to governments. Some individuals may still be benefiting from traditional banks, while others have found advantages in cryptocurrencies. I don't view them as rivals or competitors; they represent two distinct options for managing money and assets, one digital and the other physical. Even if cryptocurrencies become dominant, fiat currencies will likely continue to exist, as not all countries may adopt cryptocurrencies as their primary currency.

[Arenga pinnata]

In essence, all parties will definitely seek a profit. And of course this includes banks. Every bank company always tries to attract more customers to their bank. With the aim of getting more profits of course. And every customer who comes to the bank actually has a different purpose. There are those who really want to secure their assets in the bank. There are those who ask for capital assistance and so on. What must be considered here is how to establish mutually beneficial cooperation between both parties. Both for the customer and also for the bank. There must be reciprocity between the two. And if there is no reciprocity in kind then of course there will be no cooperation. And many private banks currently have better offers to their customers than state-owned banks. And I think we just have to look for something that fits what we're looking for that can be mutually beneficial for both parties.

[Dr.Bitcoin_Strange]

So what about altcoins like ETH or BNB? Not all altcoins are useless or not worth investing in and DCA.

I think you should re-read my comment again. I did not say all altcoins are useless, no, but perhaps many altcoins are useless.

Bitcoin is not the only profitable investment in this market and the rest are useless.

I don't think I said anything relating to that, but then again, everyone has their choice of investment, and to avoid mistakes and regrets, they have to get informed first about the risk of any investment they are venturing into.

Do you dare bet with me, if you buy BTC from the bottom and I buy ETH during this bear season? I'm pretty confident that my profits will be higher than yours in the upcoming bull season.

No, I don't bet on investments. I do my research before making an investment, and if I find out that an asset is not worth my funds at that moment, I don't go for it in a rush.

[kingvirtus09]

I will prefer people to DCA bitcoin. If they want to DCA altcoins, they should be careful and look for the good ones. Altcoins can be very volatile and some of them can become shit coins and later become dead. I will prefer bitcoin.

You mean people will borrow money from bank and bank will demand high profit from them to pay back. That is true. But some people borrow from bank and they are able to pay back after they use the money for the business they want to use it to do. Some  people use it for business and the business did not bring any good return and they have no other means than for the bank to sell what they used as collateral.

You can invest in bitcoin and make money, but have you forgotten that you need money to invest in bitcoin? If you can start a business without borrowing from bank, that would be better. Not also good to borrow money to invest in bitcoin or any other cryptocurrencies.

Borrowing money from the bank has a high interest rate that they will charge for sure if you build a business that you want. If you're just going to borrow from the bank, I think it's safer to put what you owe to invest in Bitcoin than to put it in a traditional business that you know.

At least with Bitcoin, we know something about it, somehow we are sure that the rise of its value in the market has a destination, yes, we have a risk due to volatility, but we know that the price value will really increase. especially since there is an upcoming Bitcoin halving and an upcoming bull run by next year.