/biz/ - Business & Finance

Guess nobody wants FREE MONEY then

>>17628502
>>17628559
heh, nothing personnel kiddo

>>17628715
Insurance etc.

Problem solved.

>>17628733
And your profit margin turns into net loss, good goy.

>>17628755
Not in the UK. Why do you think there are so many landlords in the UK living in their second home on the rent from the first?

>>17628776
>he doesn't know
oh boy

>>17628798
I do know, my parents actually do this. I just posted this thread out of interest.

>>17628502
is it really this easy?

>>17628502
>buy house

jej

real estate is the easiest way to make money for the average person

>>17629177
It's not an amazing investment but it's safe and easy for somebody who isn't educated in investing.

There are literally millions of properties bought simply to let in the UK from rich boomers who retired at 55.

Problem is, as >>17629183 implies, getting a mortgage is quite hard, but if you have anything in your inheritance or whatever, do it.

>>17628715
wow thats like 16 hours of work and 450 dollars of supplies.

how HORRIBLE !

>>17629224
>getting a mortgage is quite hard
no its not
work long enough to save for a down payment, as long as you have a real job it won't take more than a couple years. As long as your credit isn't dogshit you can get a mortgage.

>>17628715
oh no my only weakness! replacing drywall!

>>17628776
The rent pays your morgage the taxes and the insurances. You rarely make any profit until the morgage is paid.

>>17629671
Obviously, but then you're set for life. You can retire at 50.

>>17629405
with FHA you cant get a mortage with a tiny downpayment i hear

>>17629405
I don't think saving up for 50k can be done in a couple of years.

>>17628502
>Who said property was a bad investment?
Reddit. They fucking hate real estate investing. They hate anything that's not tucking money away in an index fund under a retirement account.

People hates their landlords for being fatcats who charge extravagant rents while also thinking it's an extremely risky and highly unprofitable business.

I'm fine with this desu. The more people stay away the easier it is for us already in the business.

>>17630984
Always thought the opposite about reddit... the UK finance and investment subreddits are full of white middle class landlords. Not even kidding, they had a survey and everything.

>>17631012
My observation from lurking in the general investing subreddit is that they hate real estate and prefer index funds in retirement accounts because the latter is more passive. I've never had to deal with a clogged toilet at 3 AM but redditors want you to think you'll be dealing with that all the time. If it did happen, the property manager would handle it, not me.

/biz/ isn't really much better desu. biggerpockets is the best place to talk about RE with people who know about it because they are in the industry

How much do I need to start? I have $20,000 liquid.

>>17628502
>dude just live with shitty roomates for 20 years to payoff a mortgage, then continue living with shitty roommates for the rest of your life so you can quit your job & make just enough from rent to pay for only necessities lmao

>>17629941
>having roomates after your 20's
cringe
>>17631143
Depending on where you live 20k should be able to buy you a 150-200k home. FHA is 3% down. Ask your bank what it takes to get a conventional mortgage and an FHA one. Ask what the positives and negatives are for each. Once you are set, get a pre approval. then contact a few realtors and tell them to find you a deal. If you are buying a house, realtors get paid by the seller. Dont be afraid to /diy/ to fix it up a bit. Also, shop around some banks to get better mortgage rates when you are ready to buy
imo, its better to have a separate suite or coach house to rent out on the property than having roommates. But if you don't mind then it doesn't matter.

>>17631445
I don't see how this can go tits up. When does rent ever go down? Did it even dip that much during the 08 recession?