/biz/ - Business & Finance

>>18808190
it's all a gamble right now, wait until this recession actually hits. once we are back in a bull market it's a no brainer

>>18808250
I won't have the credit for it for another couple years anyway. I'm just trying to plan ahead

>>18808190
In the last 10 years, every white suburban moron watches HGTV and cooms themselves to the idea of """"flipping"""". Here's what you should possess in order to even have a shot as a RE investor

> experience evaluating properties
> knowledge of your area
> an "in" to figure out when/where deals are popping up
> quick access to capital
> handyman and contractor knowledge
> if not that, then knowing a handyman and contractor who won't jew you (good fucking luck)
> act as your own agent or know an agent who won't jew you (good fucking luck, again)

Honestly 99% of people should just stay away. Most inexperienced people lose their fucking ass on real estate, especially with commercial going down the tubes in the future.

>>18808261
What kind of credit would you need for this?

>>18808190
10 years, because that is how long it will take for you to get your money back after the market crashes.

>No one is buying
>Massive unemployment
>Brick and mortar retail and small businesses are going bankrupt.
>1/3 of rent is not being paid
>No one is using airbnb
>Flippers are sitting on empty properties.
>There are more than nine million second homes in the U.S. that may or may not be financially viable given the depth of the current recession.
>The next generation of new home buyers can't afford starter homes, due to the 1 trillion dollars in student loan debt among ages 25-35
>About eight million landlords who own between one and 10 properties accounting for half the nation’s rental properties. Financial duress will come swiftly for those carrying multiple mortgages.
>As many as 30% of Americans with home loans, or some 15 million households, could default if the nation’s economy remains closed up through the summer.
>Immigration has been halted due to the virus.
>Interest rates are already near 0 and can't really go much lower.
>JPMorgan has bumped its loan requirements to 20% down and 700 credit score.
>The jumbo mortgage market is disappearing.
>List prices are already down 6% in april according to redfin.

>Redpill me on househacking
you're a live-in landlord that allows digusting humans to live in the same place so that you can pay off your banker overlords and you have no idea just how bad they really are until the shit hits the fan

>>18808313
Based on my research, it depends how much you are willing to scale up. Same as buying a house, you can get a trash multifamily home with a garbage credit score if you really want to, but when it comes to renting out property, the nicer building you can afford, the more profit you can make by renting it out so it's smarter to wait it out and build up. I was going to try and reach a 700 score before I committed

>>18808296
this. people view buying houses as a get rich quick scheme without realizing the massive risks and sunk costs involved. Unless you know what the fuck you're doing any money you make with real estate investment is just by luck. you'd be way better off putting the money in the stock market.

>>18808379
this high iq goy gets it. good luck if you're buying now at the literal peak of the market in the midst of a global pandemic that's disrupting literally every market.

>>18808296
Real niggas rent title 9 housing. Slum lording is where the easy money is.

>>18808190
Additionally, I'll add that I think taking on any significant amount of debt is utterly retarded right now. That's what a mortgage is, they just church the name up...it's debt, the most debt you'll probably ever acquire in your life (unless you go to med school).

If you have enough to pay cash for a house, do it. Otherwise I'd stay away until all this shit gets sorted out. What we just went through/are going through should be a wake up call to always stay cash heavy, because now your government can at any time wreck your way of life and take damn near all of your freedoms away. I always thought preppers were nuts and my great grand parents were stupid for keeping cash in their mattress.

Don't be a fucking debt slave just because you think you see dollar signs as a RE investor. Even if you can pay cash, run the numbers and see what kind of opportunity cost you're looking at...i.e. sticking 300k in the market and continuing to rent would almost certainly yield better returns than your property.

>>18808496
> title 9

you mean Section 8? Guaranteed gov't check is nice but you really need to go to somewhere like Baton Rouge and see what niggers do to property. Destruction like you can't even believe, even if they're only there for a month (which most are because they gotta stay on the move to dodge dat child support).

> 4 cars parked in the yard even though only one person's name is on the lease
> pitbulls chained up
> needles and crack pipes left everywhere
> never take the garbage out
> pervasive nigger smell
> Felon'tre Stabacracka got too excited watching the basketball game and shot a bunch of holes in the wall

You never make money on these properties because all your cash goes to repairs.