Loads of wealthy people live in houses that they themselves don't directly own. Instead they'll form a real estate LLC that owns property, pays contractors to maintain the houses, and the people will then pay rent to their own LLC to live there to cover the maintenance costs and whatever mortgage/debt the LLC has.
Re:Elon Musk owns 9.2% of Twitter
by FireBeyond on Monday April 04, 2022 @11:36AM
(#30907869)
Everyman non-home-owning Musk: https://www.wsj.com/articles/elon-musk-says-he-lives-in-a-50...
The link you sent doesn’t confirm the comment that he owns lots of houses. Of course he won’t live in a bad place, but that doesn’t mean that we shouldn’t stick to facts.
Re:Elon Musk owns 9.2% of Twitter
by mupuff1234 on Monday April 04, 2022 @09:46AM
(#30906577)
And how do you know what you stated are actually facts?
Re:Elon Musk owns 9.2% of Twitter
by cloudwalking on Monday April 04, 2022 @10:07AM
(#30906802)
Multiple books and first-party reports. Hundreds of interviews.
Re:Elon Musk owns 9.2% of Twitter
by trashtester on Tuesday April 05, 2022 @02:34AM
(#30915927)
He claimed to plan to offload all his 7 houses in 2020, and it seems that this was completed only a few weeks ago.
`Just look at the tax law of California, I wouldn’t own a house there either.
You mean the state with one of the lowest effective property tax rates in the country? Your property tax is pegged to 1% of the purchase price, and essentially never goes up ever again.
One of the only (if not the only) state where that happens.
The main reason not to own in CA is the insane purchase price, not the taxes.
But the main point is the side comment: I’m having fun coding whenever I want to, but I strictly do non-payed hobby projects, as I don’t want to get into commitments ever again.