/biz/ - Business & Finance

>>12568579
Is that in far east Portland, OR?

how much money and effort was required to get the house to that state?

needs to sell before a W

>>12568579
looked better before

>>12568579
>be boomer
>buy rotten dead property nobody wants
>give it a new paint, bright flashy colors, kids love it! like that fordknight thingy my son plays
>rearrange house number, damn going to art school really paid off
>list house for nearly tripple the purchase price with 0 repairs done
>fucking kids nowadays dont know how to handle money, back then i bought my first house at age 21!!!

>>12568607
around 160k

>>12568579
How much did it cost for renovation?

>>12568607
$40k tops and thats if you subcontract everything out. you do it yourself, then like $15k in materials.

>>12568618
zoomer cope

>>12568579
>tfw bought house last year
>gone down in value -$14.5k

>>12568606
its almost Gresham

>>12568579
>1/25/2019 Listed for sale $249,900
>7/13/2019 Sold $156,000
>costs incurred by contractor: $80,000+

Should i move to a legal state and sell weed on the dnm? Good idea?

>>12568579
the absolute state of america, this is a fucking garden shed that homeless poor people live in where im from

>>12568637
>you do it yourself, then like $15k in materials.
If you dont value your time to be woth counting into the calculation, you should stay away from handling a business...

>>12568772
i'm actually good at stuff like this so the time investment would be trivial.

>>12568618
>he painted the siding from horizontal to vertical

Ok randy.

>>12568784
>I’m good at something so the time invested isn’t worth anything.

Ok Milton

>>12568579
Are you going to Texas this year for family reunion?

>>12568772
>If you dont value your time to be woth counting into the calculation, you should stay away from handling a business...
some people don't have capital and have to hustle and flipping houses is ok for that. stop being a faggot and acting like you're balling
and if you already made it then stop condescending to 20-somethings trying to get in the game
nigger.

>>12568618
This ironically is my dad for the house part. "Back in my day when I was 21 I had 8 houses, where are your houses son? Dad a house back then was significantly cheaper and people weren't vetted. Back then they'd let you buy a house without proof of funds or pay stubs or anything but that caused the crash so banks actually check now to see if you can make the payment, before the bank would let you loan especially if they knew you wouldn't be able to pay it back because they'd take the property plus all the payments you've made and resell it and rinse and repeat. Back in 95 a house like this would cost around 20-30k, its like inflation doesnt exist for boomers.

>>12568819
>moving the goal posts
we're talking about cost inputs not value addition, try again smarmy faggot.

Flipping houses for that much is jewish. Wondering why nobody can afford them? Scammers.

250k cuck shed with no sidewalk

>>12568579
Not only is it tired, tiny, and ugly, but it's probably going to need complete renovating before 2022. I bet they didn't even put primer under that grey paint.
If anything, they destroyed the only thing that was valuable about it in the first place, the green lawn.

if my real estate agent showed me that house and I fell for it, I would sue the shit out of them.
I'm paying them for expertise and they went about showing me pigs in lipstick and didn't think it was necessary to vet any of this shit. They have expertise for a reason.

>>12568844
>some people don't have capital and have to hustle and flipping houses is ok for that.
Which is not a bad thing to do, did it myself for a couple of years as a side-business with my father.

> stop being a faggot and acting like you're balling and if you already made it then stop condescending to 20-somethings trying to get in the game

Thin skin, pal?
If you consider your time to be worth >zero< & dont count in an entrepreneurial wage for ANY hustle, you consider yourself to be a slave with unlimited ressources. It goes well once, twice, maybe even a whole year.
But at some point, you end up working for $2 per hour. Which is less likely, if you are actually able to estimate the value of your own time.

>>12569072
/biz/ is a no-bully zone
protestants are also unwelcome

>>12568579
Why is the lawn ruined?

>>12568772
Lol you're such a broke retard to even say that.
If it took him a year to fix up this house he still would have made an enormous profit and did better than most people.

However this place is a complete cuckshed so anyone with any actual skills and dedication could have finished the exterior by himself in less than a month.

No telling what they did inside but even working alone it wouldnt have taken him that long.

>>12568579
very nice! if i were living in the US I would definitely look into it.

What's with the pit under the rear porch?

>>12569072
>estimate the value of your own time
lol you are arguing bullshit semantics and backpedaling. costs are realized instantaneously, so unless you payed yourself at the time of your labor, the only COST is in units of time. you are trying to make profit margin estimates the same as a cost estimate, which they are not.

>inb4 it doesn't make a difference

i'm pretty sure you pay taxes like a normie and don't hold everything in an S-corp or other non-pass through entity. i've never actually paid myself a salary, all profits are put back into the company. this is standard boiler plate entrepreneur stuff btw.

>>12569240
thats where the clown lives

>>12568579
Lol you would have to be a compleye retard to pay that much for that shed. Id pay you $100K for "upgrading" that shithome.

>>12568579
>listed

>>12568772

you're such a faggot omg.

Is that unironically a 1-bedroom?

>>12569589

its a shed

>>12569630
It's an outhouse. No wonder residents are moving out of the west coast and into cheaper areas of the country. Sell a house in Cali and buy 3-4 of them in the midwest. Easy peasy

>>12569253
>dont pay taxes
>this is standard boiler plate entrepreneur stuff btw.

Oh boy, someone larping to know something.
I value my time to be too valuable to explain this exact "entrepreneur stuff" to the pretentious likes of you. Feel free to buy a house, renovate it and realize you cucked yourself for less than minimum wage per hour in profit.

>>12569672
>living in the midwest
lmao

No shit anon, people buy stuff cheap and then do some work to it/or not and sell it quickly for profit
No shit indeed, most of people listing on ebay and other shitty sites do that for living with all kinds of used stuff

fuck me biz seems to get dumber and dumber

>>12568618
You literally just demonstrated they are. House was 88. That's damn affordable. Nobody bought it, because it needed work. Less than 160k in repairs made, and someone actually buys it! Who could buy that house and say they are good with money? Who could complain about housing when there are so many properties like this? The only thing that's really fucked up is public schools.

>>12568897
Houses weren't significantly cheaper. People were just less demanding consumers and schools weren't so shit. You need to remember that all those places that have inflated so much are significantly more developed and important now. I grew up in Denver before the boom. Everything was cheap because it was a backwater city. Nothing was there. As soon as the oil money came in, tech bros moved in looking for investors. Now everyone wants to live there. If you want to be cool, you have to pay the price. If you want to make money, you have to be there before everyone else.

>>12568579
>all you have to do is list a sale price and someone will automatically buy it

lets see what the price is when someone buys it

>>12569240
>he doesn't live above a snake pit
not gonna make it

brb.. gunna go flip a house bro wish me luck.

https://www.realtor.com/realestateandhomes-detail/6662-Iroquois-St_Detroit_MI_48213_M49290-09276?view=qv

>>12568579
to be fair he obviously significantly overpaid for this

>>12568579
The boomer who did that needs to be fucking murdered. $250K for a fucking shed?

>>12569948
>renovate it and realize you cucked yourself for less than minimum wage per hour in profit.

>STILL BACKPEDALING

lmao, you finally made the jump from talking about costs to talking about profit. you can't even keep a straight argument so you aren't in any position to explain anything to anyone

>>12568579
ITT: illiterates

>>12570045
nobody bought it yet retard

>>12568666
How do you know? Do you get it valued every year?

>>12568579
That's not a house, it's hardly a shed

>>12570217
hmmmm i didnt know they came that cheap

>>12570522
>implying

>>12569240
just lol @ that deck.

>>12568607
>how much money and effort was required to get the house to that state?

Very little. it looks like the only thing they did was was change the wood siding and paint the deck

>>12570986
It's a complete gut rehab you brainlet. You dont think they renovated the entire interior? They probably made around 40-50k with this flip.

>>12568579
Flipping houses were how 2 instructors I had became millionaires

>>12571006
They were boomers tho so they had an unfair advantage

>>12569240
For the dead bodies of course

>>12568681
>live on border of washington & oregon
>make 700 a week in high school not knowing this is real money
>weed becomes legal
>weed is near worthless
>get a job and realize i made more in a day hanging out then i did in a week working part time at BK
>life sucks
>weed store sells ounces of chronic for $90 you cant beat that.
>mids for $50 an ounce

The game is dead unless you want to risk decades in the feds transporting it to fly over states.

>>12570217
Do you have to pay "back taxes"?

I legit feel like buying a lot of homes in detroit for like 1-10k, make them perty, buying nigger repel spray, help whites move in, and sell them for like 200k.

Back taxes are a problem tho

>>12568579
Fr tho, 250k for that bullshit kek. Only 635sqft too. What a scumbag.

that house is shit. I can sell you my house 2500 square ft for 500k. Literally 4x the house for only double the price.

>>12571257
I don't think you understand how real estate works

>>12571177
>>12570751
I'd honestly love to buy a few abandoned blocks in detroit hopefully with some taller structures (city like) and have huge paintball/airsoft tournaments there like fucking huge!! have them all wear body cams, have the whole thing broadcasted on youtube. Just a world wide meetup to have 12 v 12 matchs maybe even bigger. Do it twice a year or so... i'm sure people would participate in something like that.

>>12570217
>The sale excludes the driveway, shed and carport

>>12571177
> help whites move in

Whites don't want to move in. They don't want to pay 50 percent of their housing cost in property taxes to live in a city with crumbling infrastructure and possible lead water.

>>12571177
>?Do you have to pay "back taxes"?

Of course you do. They wouldn't be that cheap if you didn't have to pay. If legislators actually eliminated those back taxes those housing prices would soar.

>>12568579
"listed for sale" is not the same as "sold".
also, he spent a couple grand to fix it up. at the end of he day he will make a 60-70% profit at best and thats a optimistic projection.

>>12568579

250k for a FUCKING cuckshed

>>12568808
>>12568819
Timmy? is that you? how are the bobs?

>>12571177
>Detroit
>Help whites move in

>>12570403
Even if that did happen it's extra money, everyone's first house flip is a learning experiance.

t. Someone who helped their mother and stepdad flip a house for £1000 profit. Oh I was laffin, got paid for my time though so IDC.

>>12568579
who would spend $250k on a 650sqft home????

Jesus Christ.

>>12568607
You could completely gut and redo the walls, floors, new appliances siding, roof for less then $50k. But you can see they didn't change the windows and they arn't showing the roof, so they probably didn't redo that.

>>12569240
That's where the water collects when it rains so that your foundation gets fucked.

>>12570217
Check out those schools. Your kids will come out smart.

is that a cuck shed?

>>12568579
What the fuck is this? Who would buy this shed for $250,000? I like how the roof isnt shown either lol.

>>12569240
Thats Jihans spider hole

>>12570045
dude, you have your head way up your ass. At 88k you absolutely CANT live in that house!

You would have to throw in atleast $30k in repairs before you could even live in that shit.

Almost all people do not have 20% to put down and another $30k in cash reserves to do repairs while they live in it.

There are TONS of people who dont mind buying an ugly ass house, but theyre so fucking expensive and the repairs are so much that you'd be crazy to even bathe there.

250k to live in a cuck shed near gresham

lol

>>12568579
>hidden asbestos siding
>roof still fucked
>power disconnected
>2x4 “flower bed”
>bondo everywhere
I hope the boomers that did this shit end up selling for an L. Also, fuck you if you do this half ass “flip” scam.

>>12573048
>supply goes up
>Demand stays same

price would go down

>>12570217
>hey bro what's your mortgage
>$10/month

>>12568579
>that fucking cuck shed
>for $250k
housing market crash 2.0 when

>>12570217
What's funny is if you put down $0 you'll end up paying $4680 over 30 years for that shitshack. lol

>>12573245
I think 50k is a even heavy unless the finishes are a better than normal grade on the interior. As long as you have an account with a supply house, buy your own shit, and just hire subs to do the work I would say you'd be around 30k all in.
>t. Experienced insurance restoration fag

>>12568579
>$249K for absolute piece of shit
If it sells there truly is a sucker born every minute.

>>12570191
arent snakes fucking when they form balls like that?

>>12574373
In Palo Alto, that house would be $3M.

>>12568709
It's probably all wood/aluminum/vinyl.
In Europe, homes are made out of brick and mortar.
Americans pay that much for sheds?

>>12568897
The Fuuuuuuuuuck, my family used to live in that house.

>>12570045
nobody bought dumbass lmfao cope and seethe

>>12568579
I wouldn't even store my tools in that shed.

>>12575431
>In Europe, homes are made out of brick and mortar.
Or concrete, or stone. Wooden houses are pretty rare, and generally the wood used it pretty high-quality so it lasts.

>>12568579
The siding is decent but Jesus that deck needs work. And that planter is embaressing. Judging from those you phoned it in on the roof repair as well. 2/10 would not flip.

>>12569240
Jesus Christ the deck is even worse than I thought. I cannot wait to see what you did with the mountain of rotting diapers that you stuffed under the floorboards.

>>12568579
What is the purpose of a new barding at that point ? The house itself is absolute trash. He could have painted the old one and it would have been identical.

Is it worth flipping houses in fly over cities/towns/states?