Loans / Interest - How much total in the end? - Page 2

got milk? · #11 (**permalink**) 06-22-2007, 03:02 PM

Quote:

Originally Posted by drjohnwebb

Medicine shouldn't be about money.. it is about helping people..

everytime i read something like that, it pisses me off.

medicine is a job. you have a job to put food on the table and pay the monthly payments on that lamborghini. that's all it is.

tell that to all the lawyers and businessmen. Lawsuits should be about helping people. not for lawyers to take 50% of the winnings.

Not_A_Doctor_Yet · #12 (**permalink**) 06-22-2007, 03:30 PM

Check this out, some guy on an airplane sitting next to me who happen to be a doctor told me this.

He was from florida and he started med school around 1998. What
he did while he was getting his bank loans, he also bought a house at the
same time he started medical school. He had his sister live there for free to watch it over. He paid like $750 a month mortage= $750*12 =$9000 a year. So he borrowed an additional 9K a year to pay off his mortage. He paid it all at once when he got his bank lump sum per year. He bought the house for 115,000 in Orlando, held on to it it for 6 years, sold it for 300,000. So he made over 200k off his home. He invested 54,000 into his home, got back about 200k, Guess where that 200k went???? He paid off every penny to his student loans which were almost 200k. He made his money work for him, i think he's no doubt one of the smartest people i have ever met, and talk about some great advice. I hope this helps and enlightens anyone one who is cringing on the fact that they'll be starving

after med school. He's debt free now, must be nice. Does anyone know anyone who else has done something like this similar?

Not_A_Doctor_Yet · #13 (**permalink**) 06-22-2007, 03:33 PM

Quote:

Originally Posted by got milk?

everytime i read something like that, it pisses me off.

medicine is a job. you have a job to put food on the table and pay the monthly payments on that lamborghini. that's all it is.

tell that to all the lawyers and businessmen. Lawsuits should be about helping people. not for lawyers to take 50% of the winnings.

Medicine is a business. What color Lambo are you thinking of getting?

hxa · #14 (**permalink**) 06-22-2007, 03:35 PM

This is the kind of stuff I am talking about...sadly this doesnt work for everyone but if some oppurtunities come by like this, jump on it.

I wish we were back in time when doctors filed bankrupcy's after graduation and got rid of their student loans and started all over and built up their excellent credit in 5 years or less...those were the good old days.

Not_A_Doctor_Yet · #15 (**permalink**) 06-22-2007, 03:40 PM

Its very possible, especially here in Florida. Ohter parts of the country like Cali or New York, good luck.

hxa · #16 (**permalink**) 06-22-2007, 03:50 PM

whats very possible? Buying the house or bankrupcy?

drjohnwebb · #17 (**permalink**) 06-22-2007, 04:20 PM

Quote:

Originally Posted by got milk?

everytime i read something like that, it pisses me off.

medicine is a job. you have a job to put food on the table and pay the monthly payments on that lamborghini. that's all it is.

tell that to all the lawyers and businessmen. Lawsuits should be about helping people. not for lawyers to take 50% of the winnings.

Did you read the next line in that?? I said people who don't have loans say that..
I agree with you... you should make a nice living.. and you can help people too.

By they way.. lawyers don't get 50%, they get 33% if they don't file suit and 40% if they do file suit.

Law does help people.. but, if you are the one being sued.. it isn't YOU. But.. if YOU are DOING the suing, it is you they are helping. I tell you what.. when a doctor cuts the wrong artery or nerve on you and you have to eat through a straw the rest of your life, I will remind you how evil the lawyers are.

Apparently you are looking at a early 90's lambo... With no interest, a new lambo would be over 4K a month plus insurance of around 2K a month. I doubt you will have a nice house to park that car at. Lambo's aren't comfortable to sleep in.

hxa · #18 (**permalink**) 06-22-2007, 04:44 PM

forget about lambos, i am happy in a regular car...invest in something instead.

Not_A_Doctor_Yet · #19 (**permalink**) 06-22-2007, 04:56 PM

thats it only 4K, Nice...

UFTim · #20 (**permalink**) 06-22-2007, 05:29 PM

Quote:

Originally Posted by Not_A_Doctor_Yet

Check this out, some guy on an airplane sitting next to me who happen to be a doctor told me this.

He was from florida and he started med school around 1998. What
he did while he was getting his bank loans, he also bought a house at the
same time he started medical school. He had his sister live there for free to watch it over. He paid like $750 a month mortage= $750*12 =$9000 a year. So he borrowed an additional 9K a year to pay off his mortage. He paid it all at once when he got his bank lump sum per year. He bought the house for 115,000 in Orlando, held on to it it for 6 years, sold it for 300,000. So he made over 200k off his home. He invested 54,000 into his home, got back about 200k, Guess where that 200k went???? He paid off every penny to his student loans which were almost 200k. He made his money work for him, i think he's no doubt one of the smartest people i have ever met, and talk about some great advice. I hope this helps and enlightens anyone one who is cringing on the fact that they'll be starving

after med school. He's debt free now, must be nice. Does anyone know anyone who else has done something like this similar?

I had a condo in FL before starting SMU. I paid the mortgage for a while with student loans, and figured I'd sell it and pay of my loans. I currently have it on the market.

When you have a high interest rate with Health Xpress it's not worth it. Let's see...7-8% Health Xpress and less than a 10% increase per year in property values in Florida. Not even fuzzy math could mess this up for me. SOLD. Owning a home is a hassle. Especially if you're 1200 miles away and not sure if you'll ever be back in Florida.

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