/biz/ - Business & Finance

>>58307223
That's not even enough for a nice house

>>57273924
>Has everything I need
>Close to everything
>Walkable

I'm not selling my Bitcoin. I will only trade it for a mansion

>>57134331
I'm gonna trade my whole coin for a mansion

Based

Anyone not leveraging credit for real estate is a retard. If you have the down payment and can get a loan you absolutely should buy a rental property, if the rent will cover the mortgage payment.

The home across the street from me is for sale for 340k. There were renters in there paying $2100/mo.

68k down at 6.75% with property tax (3k) and home insurance (1k), and your mortgage payment is $2100/mo. The rent completely covers it.

Just simply paying off the mortgage over 30 years, your 68k investment becomes 340k. But your home won't sit at 340k in value over 30 years. The average annual return in home equity from 1980 to 2020 was 10%. But I'll use a very conservative 2.5% annual return. 2.5% annual growth over 30 years is 210%, or 7% per year.

Then there's the tax benefits. You get to deduct all of the interest paid on the mortgage (17k first year). You get to deduct all the property taxes you pay (3k). And you get to deduct depreciation (3.6% on structure's value, roughly 9k) every year on the rental property. That's 29k in tax deductions, saving you ~25% on your tax bill ($7250).

So a 68k investment gives you 25k rental income + 7k in tax deductions + 8500 equity gained - 25k PITI = +15,500 net, earning you 22.7% your first year. Any decrease in rates, and your 2.5% equity gained increases in percentage, and you have the ability to refinance and save on interest paid. Rent also increases as incomes increase

No move to Philadelphia

Everywhere in America will do this soon enough

>>52352229
>>52352300
Here

Same. If you didn't inherit it's not happening.

Guys how do we cope with the fact housing costs will just continue to rise until most people are priced out of ever owning? Are we going to become Van people/biz/?