/biz/ - Business & Finance

>>17590436
>be you
>be like every other braindead idiot that has know clue how to make an income other then buy real estate and rent
> Crash the market because everyone with a sub 80iq does this every market cycle

>>17590460
>thinking housing bubbles are a result of muh animal spirits instead of central banking and government intervention
Never gonna make it.

>take your life savings
>leverage it 5 to 1
>buy a single asset
>move a nigger into it

what could go wrong?

>>17590548
It's worked quite well for me so far, been doing it for a year and I quit my job. I just work side gigs now sometimes.

Also if shit fucks up, I have a buffer fund to soften the blow.

Things that never happened

>>17590628
>it's impossible for anyone to buy a home
You're just limiting yourself with that mentality.

>>17590576

how are you vetting your rentcucks?
how much did you have to put down as % of total price?

Have fun paying out the ass when that shit falls apart

>>17590460
This is the dumbest post I’ve seen on /biz/

>>17590436

Congrats anon. I did the same thing for awhile. It’s really not hard. It’s super easy to rental income several hundy above your mortgage payments. And more and more people are renting now. I eventually sold my house to move into another investment but you’re doing it right.

>>17590743
You know he could always sell take more profits from the rise of the value and then buy a newer house and do it all over. Over time add another home and another. It’s a great way to make money.

I bought a duplex, pay 1800 total costs a month

My tenant pays 1500 of it

Almost cost free living, saving the rest for another property

>>17590725
>how are you vetting your rentcucks?
Criminal check, credit check and 2 refs

>how much did you have to put down as % of total price?
5%

>>17590743
When? 10 years later?

>>17590771
Thanks anon.
I got a house with a separate entrance and unfinished basement. We finished the basement and put up walls, a bathroom and mini kitchen.
This is the best financial decision of my life.

>>17590787
>Almost cost free living, saving the rest for another property
I know!!
It's fucking amazing.
It's like a cheat code in life.
I mean why the fuck don't people do this?

>NO NO! I WANT TO SPEND EVERYTHING I EARN IMMEDIATELY INSTEAD OF SAVING FOR MY FUTURE

>>17590802

so you got a primary residence mortgage and built a cuckshed. no way they would let you get a true investment mortgage with that little down and no job

>>17590436
>be me
>buy 2nd apartment at 27 in EU capital
>100% airbnb
>get some student to clean
>800 euro a month pre tax

Now corona dont fuck this up

>>17590845
I had a job the same job for 6 years, that's how I was able to do this.
I don't work anymore.

>>17590886
Based

You guys are making me jelly. I would like to do this also. I think you've made it as far as I'm concerned

>>17591024

anyone can do it with 1 to 20 leverage and 4% interest. you can buy a $200000 house for $10000

>>17591024
>I would like to do this also. I think you've made it as far as I'm concerned
You can do it anon, you just have to self sacrifice for a year or more(or less depending on your job)
and have good credit.
I believe in you.

>>17591050
I will screencap that for when I have 10k (not far) so I can figure out how the hell this stuff works lol. I don't know yet how to leverage that money

>>17591079
Get good credit anon.

>be me
>live at home with mom and dad
>they die
>i made it

>>17591079

>go to your bank
>give them paystubs
>they will look at paystubs and account balances
>they will tell you how much you are qualified for
>take that piece of paper to a realtor

I would do it right now but I already made it in stocks and my job history is trashed.

>>17591082
Not sure how much is enough? In the past ten years my debt has not gone over 10k USD, and I don't use credi cards. That's my entire working life. Currently debt free also.

How fucking cheap are houses in your country??
Try doing this in a rich EU country. You fucking can't unless you already /made it/ because that's how much a house costs. All your fucking money.

>>17591186
You need to get a credit card with a decent limit, buy a bunch of shit and then pay it off completely. Do this constantly to build up credit.

>Currently debt free also.
They want to see that you can get into debt, hold a balance and then pay it off.

>>17591294
You're telling me it's impossible to save up 5% for the down payment? lol

>>17591330
>>17591294

Italy doesnt even have a mortgage market. They are serfs.

>>17591022
>I don't work anymore.

Until something breaks.

>>17591435
That's what my buffer fund is for.
I do work sometimes, I do side gigs and choose my own hours.

>be me
>yuropoor
>sell a shitty mobile app i had developed 4 years ago
>get 160k for it
>buy one apartment, have another where i can live
>throw rest into crypto, win some, lose some
>have a decent online business that makes me $700/month

i'd like to do the same, but my job history is fucked because of me not having one of those comfy corporate jobs. banks dont like neets like me who had one good idea and executed it. also my current site wont fly either

so im sitting here, renting one apartment, living in the other, and having 40k usd saved up. id love to buy another one and do what you're doing anon, but banks are fucking me sadly.

>>17590820
>Why the fuck don't people do this?

Because everyone is already busy paying most of their income to someone who already does this. You can't jew and be jewed at the same time.

>>17590436
>be me
>the year is 2009
>people jumping off buildings and shit
>i cashout out of the market in summer 2007 :)
>make frens with disposition manager at bank
>buy 6 houses from bank at the bare minimum
>rent properties at 15-20 cap for 7 years
>2016 election scares me
>sell all properties at 5x+
>roll prophits into crypto
>2017 happens
>NEET LIFE GANG
My fucking kids never have to work kek. Why do wagies even exist?

>>17590436
>ANYONE could do it.
you mean any american could do it
no way to do that in europe

>>17591659
>>sell a shitty mobile app i had developed 4 years ago
This is what I wanted to do.
What is your app about?

>>have a decent online business that makes me $700/month
A different business? What is it?

>>17591669
I was renting before I did this.
Almost everybody can save money.

>>17591805
>no way to do that in europe
Why?

>>17590436
> a few years
> two houses

okay, larper. sig. at least my VRA bags will 50x this year.

>>17591787
If this isnt larp you might be the luckiest nigger on this planet

>>17591103
this is every millennial in Toronto right now.

>>17592117
Don't forget Vancouver anon

>>17590436
How do you know how to renovate a house without being a contractor?

>>17590576
Your on the hook for two mortgages and don't have steady employment. What could go wrong? I own a rental but my primary home is paid off. I continue to "wageslave" at $31 an hour with plenty of OT. Accumulating assets to downsize and then rent out primary home. Be smart anon

>>17592029
lower income, much higher taxes and RE is much more expensive than in burgerland

>>17592342
What a joke? Why do you people put up with this commie bullshit?

>>17592117
>>17592155
The only reason prices have increased is because the central bank prints money and pumps it into the housing market. It's unsustainable in these markets.

>>17592166
A family friend of ours is a contractor.
I got a mortgage + improvements(20k) so I was able to renovate the unit and pay the contractor.

Stop bumping your own thread, faggot LARPer.

>>17592236
>What could go wrong?
one person can fuck me over for a few months
I still have the other tenants who can pay the bills
Sure they can all fuck me over at the same time but it's rare.
If this happened, I have a $4000 buffer to protect myself.
After this situation blew over, I would just go wageslave again for more income to build up my buffer and become stable.

No biggie.

>>17592628
>LARPer.
Anon, do you honestly believe it's impossible to buy a fucking house?
What are you even doing on /biz/?

>>17590436
The landlord jews get the rope first

>>17592651
No, I don't think it's impossible to buy a house. I think your story is obviously fake to anyone who has actually bought homes to rent out. You're leveraged 95% into two houses and claim that the rent covers all expenses plus yields enough money for you to quit your job. And your $4000 buffer is so laughable I really think it's bait. Unless you live somewhere with San Francisco rent but midwest prices, none of this adds up.

>>17590436

Im about to do the same in a few years.
Im not saving cash like you did but im saving and investing in dividend stocks (well known ones ofc), so im planing that my Dividends are going to pay for the mortgage so that im basically rent free and in addition having a system which pays itself and grows over time which lend me into financial independence

>>17592682
>people who own property and then rent out a portion of it are all JEWS
Horseshoe theory is real, neetsoc losers are just brainlet commies.

>>17592737
>You're leveraged 95% into two houses and claim that the rent covers all expenses plus yields enough money for you to quit your job.
LOL
Both homes are Duplexes. I make profit from each house. It was difficult to find/turn these units into duplexes.
>plus yields enough money for you to quit your job
It definitely does, just enough to survive though. I work side gig apps to get some spending money.
I'm comfortable living this way.

>>17592750
Fucking BASED
Fuck commies.

I hope you're successful anon.

>>17590644
You arent retired with 2 rental properties you larping dumb fuck

>>17593046
But I literally dont work

>>17592908
You are a rent seeking leech. I hope someone breaks everything in your rental and fills the drains and locks with expanding foam.

>>17590436
>just save money for a few years and buy 2 houses bro

Lmao you must live in some sort of shithole where houses sell for 100k or something

>>17593118
>rent seeking
This is bad why?

>leech
I wageslaved about $25000 for both homes.
I could have used that money for a bunch of amazing things in my life but I decided to invest instead. How in the fuck am I a leech?
You are.

>I hope someone breaks everything in your rental and fills the drains and locks with expanding foam.
You are a literally a parasitical subhuman with shit genetics. Kill yourself.

>>17593156
It's not that hard, you're literally just stupid. Fox meet grapes.

How the fuck am I supposed to save up 20k for a deposit?

>>17592940
mentioning they are self converted duplexes was something worth mentioning anon
still at a 20x leverage, 4 rental units could only net you poverty tier after expenses income
do you have any plan to grow beyond your current level or do you really hate wagecucking that much
your 4000 buffer is really not that much when a tenant truly redecorates the place

>>17590436
I'm going to do this but after LINK hits $100

It's just a matter of time before I retire in my 30s as well

>>17590460

>>17590436
>be me
>wageslave for a decade and stack VTSAX
>Paid off house and a lake cabin in Northern Michigan
>No need to rent my house off to some jackass that will ruin them
>retire at age 32

Why are rental income bros so dumb. You can just invest in the stock market and not have to deal with stupid tenants.

>>17593770
quit being a fucking bitch for one
also tell your government to abolish central banks

>>17593991
>poverty tier
My housing expenses are 100% paid for and I have 800 cash which I spend on food and fun

you were saying?

>do you have any plan to grow beyond your current level or do you really hate wagecucking that much
I hate wagecucking, but I plan on doing online businesses later in life.

>>17590576
This sounds less like an active plan, and more like you larping about what you think life will be like in 5 years

>>17594831
nah, its real life

cope more desu

If you were making enough money to pull this off why wouldn't you wage cuck a bit longer for more property/investments. Sounds safer and you're young so it's not like your nearing the age of massive physical decline or something

>>17595096
>If you were making enough money to pull this off why wouldn't you wage cuck a bit longer
im lazy and want to chill

>Sounds safer and you're young so it's not like your nearing the age of massive physical decline or something
I can work hard later and retire later in lfe

>>17595193
Sounds reasonable if you can re-enter the work force.

>>17594241
I always wanted to do the property meme but I'm leaning towards this now.

>>17590436
>>17590771
>>17590787
Do you guys have any guides or ressources for learning about real eastate investments? I really want to read into it

>>17595625
If you dont have money, dont worry about it

>>17590750
True. And that is saying something

>>17594558
>bragging on biz about his 800 dollarinos passive income

son that is poverty tier even in my centrally planned europeon shithole
that is absolute crap in burgerland
and worse you have no plan or capability to grow beyond your current tier
let me propose you an alternate: instead of neeting it out you kept your wagecuck job and bootstrapped yourself into more properties to the point that your rental income minus your living expanses equal more investing opportunity
at that point you can retire and with every passing day your networth increases without much effort

with a 4k buffer and 800 income you are one minor setback away from losing it all, only one tenant has to redecorate your unit and you are fucked
also you are bragging on biz, after the last crypto bullrun there are neets here in the multiple 7 figures range, step up your game son