/biz/ - Business & Finance

My crypto investment strategy is to be lower than the intended recipient you are not the intended recipient.

>>2921335
>real estate is a job
Real estate is such a broad category. If you're talking specifically about rental property, yes it's a job unless you outsource the property management to someone else, which is what I did and I'm still making money.

>>2921352
At the time I had about 730 credit and no personal debt, and ~$130K in the bank. Now I have 770 credit, and the only debt I have is the commercial loan.

>>2921434
Real estate has tremendous tax advantages. Depreciation, write off of interest, etc. Plus you can cash out refinance in a couple years, pulling out your original investment tax free & you still own the property.

>>2921464
As part of the purchase agreement, the previous owner fixed all the deferred maintenance. In the future if something breaks, I have 3 options. #1 is use the previous owner's brother (who lives at the property and helped build them) #2 is use another handyman I'm friends with or #3 is let the property management company contract it out. Most likely I'll be going with #3.

>>2921500
Yes I absolutely think starting out with smaller properties is a good idea; what I would recommend is buy a duplex on a 3.5% done FHA loan, live in one half and rent the other half. This is known as "house hacking". The renter will pay your mortgage payment, you live rent free & you may also make a little bit of money depending on how good the deal is.

Read the book "set for life" by Scott Trench. Or just search "house hacking" to learn more about it. You are on the right track, bro.

>>2922235
Originally they had an agent who was an absolute fool. She listed it only on one MLS database in the wrong county. Finally her listing expired and my agent tracked down the buyers & dealt with them directly.

>>2922266
The seller was motivated to sell because he is 70 and his business partner died in a plane crash. It was too much for him to handle by himself.

>>2922318
I did martial arts from age 8-18. I need to start working out again.