Here's what it costs to get this view for game for of the NBA finals

https://preview.redd.it/lydacaa4ra6h1.png?width=1468&format=png&auto=webp&s=2a7a383234e1f817e361fb8273eb04fee26ede54

Today's average mortgage rate is 6.6% today

Principal and interest payments on a 30 year loan would land at:

$1,461 per month

total interest paid would be $297,250

Total (principal and interest paid): $526,050

If you do bi-weekly payments instead of monthly payments

If you paid $730.63 every two weeks (half the payment) instead of the full payment (a hack to get 13 payments in the year instead of 12) here's what that does to your interest:

pay it off in 24 years (instead of 30)

Total interest drops to $227,812

Saving you $69,438

If you wanted to pay it off in 15 years

here's what it would look like:

6.1% rate

$1,943 payment (about $500 more per month than the 30 year)

$120,962 interest

Total (principal and interest paid): $349,762

The minimum income you'd need to make qualify for a knicks game

On a conventional mortgage, If a lender is looking at it, and you have no other debts and no rent/housing payment, then the max allowable total DTI is 49.99%

Minimum monthly gross income: $2,922

If you wanted to keep it at 30% of your gross income, then you'd need an annual gross salary of $58,440

If you wanted to follow dave's ramsey's 15 year, 25% net rule (maybe that's changed, who knows?) then you'd need to make roughly $125k gross per year. (assuming your income is taxed in new york)

If you gathered autographs from your seat-neighbors

Here's a list of celebrities that showed up:

  • Jay-Z
  • Derek Jeter
  • Spike Lee
  • Timothee Chalamet
  • Ben Stiller
  • Tina Fey
  • Tracy Morgan
  • Larry David
  • Fat Joe
  • DJ Khaled

If you tried to recoup your costs with going to work and asking your seat-neighbors to sign some items to put up on ebay, here's what you might get

  • Jay-Z signed vinyl: $2,800
  • Derek Jeter: signed baseball around $480
  • Spike Lee: $350 for a signed basketball
  • Timothee Chalamet: $300 signed photo
  • Ben Stiller: Zoolander poster signed: $200
  • Tina Fey: Signed photo $200
  • Tracy Morgan: signed photo $50
  • Larry David: signed Seinfeld photo $1,000
  • Fat Joe: signed vinyl or CD ~$300
  • DJ Khaled: $50 for a signed vinyl

total (definitely don't quote me on this) $5,730

Maybe you can snag a Jalen Brunson rookie card, get a signature and boost its value $1,000+

If you're a flipper

If you're a houseflipper then timing is key

Maybe you can snag a profit. But if you can't sell it by tip off prices drop insanely quick

an average, nba ticket prices drop on average by about 70% by halftime. (It isn't 2021 anymore, sellers)

Or you could buy a house

https://www.zillow.com/homedetails/3-Woodbury-Cir-Nitro-WV-25143/22674274_zpid/

Cross Lanes WV 3 bed 3 bath 1,800 quare feet

(of all of the states in the US, West Virginia has some of the cheapest homes. Declining population, shrinking local employment opportunities)

Other random stats

a game 48 minutes. That's $57,200 per quarter, $4,740 per minute, $79 per second.

If you take a 5 minute pee break mid-game, that pee would cost you about $24k

You get about 2 square feet for the night. That's $114,400 per square foot.

The most expensive home listed for $400,000,000 in CA is at $5,714 per square foot.

https://www.zillow.com/homedetails/11201-Chalon-Rd-Los-Angeles-CA-90077/250218759_zpid/

https://preview.redd.it/z0j6qt0e2b6h1.png?width=768&format=png&auto=webp&s=c2167d95a3d03d2cea72d28c95e2b7694932b6f7

I write posts and tips for first time homebuyers at r/NewbHomebuyer

-Sam

Originally shared by u/SamTMortgageBroker in r/NewbHomebuyer — view the original thread.