/biz/ - Business & Finance

ok now this is epic

>>19076158
It's way cheaper for me to rent in my area also I like the ability to move around for work given today's economy.

You literally just picked a random number (country? area? circumstances?)

>>19076158
Why the fuck do you keep coming here and posting this

>>19076193
based off a $150,000 house, which is attainable for 90% of Americans

if you aren't American, you need to stay in your containment board >>/int/

>>19076223
I'm in Canada

>>19076210
S E E T H I N G
E
E
T
H
I
N
G

rentcucks, that's why

>>19076158
I live in a studio apartment. If I bought a house I’d be spending a bunch of money for square footage I don’t need. I’d rather sock that money into the stock market than paying an extra $500 a month to build $500 in equity.

>>19076236
bless your heart

>>19076210
He made a very big lifetime commitment in a very precarious time economically, and desperately needs affirmation.
It's kind of like that cringey dude that keeps talking about lambos and doxxed himself

>>19076282
mortgage on a $150,000 house with 3.5% down is barely over $1,000 a month

after 5 years, you could refinance and your PMI will drop, reducing your payment to less than $700/ month

Big Brain Moves (refinancing to a 15 year mortgage would be the right thing to do but I'm demonstrating how cheap your monthly payment could be if thats all youre worried about)

The interest rates are low and banks are getting cucked but that’s a precursor to a shit economy. What happens if you lose your job? Or the house prices tank and you paid 20%+ over fair market value? These are the real considerations in these uncertain times imo. My family friend is a property mogul and half his tenants are not paying and he’s so heavily leveraged he’s getting btfo. Housing isn’t like the 70s 80s 90s 00s where you can always bank on appreciation of housing value especially with construction being stalled how is your house going to make you money on a sale if your city isn’t growing and building to draw in more people? Just be careful anon consider these things, yes rent sucks but there isn’t a looming uncertainty of your most vested asset’s value.
>the things you own actually own you

>>19076378
2.875 interest rate on a house $30,000 below market

how upset are you rn?

>>19076378
>He made a very big lifetime commitment in a very precarious time economically, and desperately needs affirmation.

OP on actual suicide watch

House fucks are embarrassing. Hoard and buy a bunch of shit they don't need.

>>19076382
rentcuck COPE

you will be evicted by a sheriff after one month of missed rent whereas homeowners have upwards of 6 months.

home owners can also take an equity line of credit and essentially reduce their mortgage payment to 15% of whatever it was while looking for another job

small brain, get rekt again

>>19076379
Every square foot of house I own is a square foot of house I have to heat and maintain. 400 sqft houses don’t exist and that’s about what I need. Spending extra money to build equity is asinine. I assure you, I’ve done the math.

>>19076498
the difference on an electric bill of a 1,400 sq. foot house and a 400sq. foot box is less than $50/ month.

REMINDER

women over 22 begin caring astronomically more about a man's financial status over his social status.

being a home owner
GETS
YOU
LAID

>>19076607
No they don't lol
>Anon... do you own a home, what is your mortgage? EWWWWW I DONT WANT TO GO TO YOUR APARTMENT!

>>19076379
>with 3.5% down
Banks won't do this anymore since corona just fyi

>>19076158
how much did you spend to get that $20k? what does 'down the drain' mean? do you count the escrow in your mortgage?

>>19076675
>implying a young girl would ever outright ask a guy what his mortgage is
this is next level celibacy. in fact, this is borderline ASPD. I hope youre under 15 years old otherwise you've got a tough road ahead of you

>>19076707
Wrong, retard. I literally JUST got approved for an FHA loan yesterday. 3.5% down and a 2.875% interest rate, how upset are you right now?

>>19076402
You've spent the time between today and yesterday collecting reaction gifs to justify your lifestyle choice

so in a sense it is very sad, and I would say I am fairly upset

>>19076734
She wouldn't, but he said somehow owning a home "gets you laid".

5 years homeowner: $20,000 in my pocket

>owning property and not paying your mortage with the rental income

>>19076791
listen baby if you want my Anna Kendrick sauce that's all you got to say

>>19076792
it does though. owning a home is Big League. you rentcucks are still playing t-ball. women want a MAN, not a boy

>>19076379
>>19076707

Fun fact: many counties will pay some or all of your down payment for you. Mine gave me $13,000 for F R E E

>>19076840
okay dude keep making threads about it to desperately justify your choice.

You definitely sound content and confident with your decision.

>>19076892
B A S E D

>>19076933
>he MUST be regretting his decision if he KEEPS making fun of the retards! He MUST!!!
cope.

Based op making the suicidal reddit marxists want to neck themselves

>>19076892
how do you go about getting this free money?

>>19076988
>repeatedly keeps making threads about his decision and responds to every single post each time
>Someone who is confident and content with his financial decision

Pick one

>>19076158
Repost

>>19076747
i think you are lying anon

>>19077093
massive cope.

>>19076236
Post in store prices

>>19077092
old one hit post limit :^)

>>19076210
He's trying to offload property

i bought a house thinking i was making a good move but utilities and property tax have fucked me. now i also have to worry about depreciation/appreciation of my house. there's advantages to both renting and home ownership. anyone who acts like OP (there is only ONE solution: MY solution, everyone is else is a retard) is shortsighted.

>having a rent or morgage payment
>not living with your parents until you can afford to buy a home with cash

I'll own a fully paid off property by 28 years old.

>>19077111
whats your good goy score?

>>19077167
Even if your house depreciates, you still can sell it to get SOME money back. Renters get $0 back.

>>19077167
so you bought a house not know EXACTLY what you were going to be paying each month?

HAHAHAHAHHAHAHAHHAHAHHAHAHAHHA what a fucking retard!

holy fuck lmao, I can not imagine how hard you got swindled. I mean what kind of fucking moron doesn't know how much his property tax is, better yet what kind of fucking retard doesnt factor in escrow to his monthly payment? hahahaha wooooow

>>19077211
unironically 640 (told a bunch of bill collectors to fuck off at an early age and paid dearly for it)

>>19077177
>living with mommy until 28
cringe. I guess if you didnt have much of a social life to begin with it doesnt matter

>>19077257
and you bought a 150k house with 3.5% down 1) you're gonna pay a lot of PMI 2)there is a reason the house was so cheap, and thats because it's a cheap house. it will not appreciate the way you think it will. 2 bedrooms right?

>>19076158
NOT BUYING YOUR REAL ESTATE BAGS FUCKO

NOW GET THE FUCK OFF THIS BOARD AND GO SULK TO YOUR MORTGAGE MASTERS

>>19077226
are you planning on living alone in your newly purchased house, OP?

I was just wondering is all, if you were married or had a significant other or something and you showed them these kinds of posts you're making
not even the fact that you're arguing daily with a bunch of zoomers half your age, but more so the way the posts read
what would they think of you

>>19076158
>Landcuck cherrypicking investment returns and rent.

We get it. You are stuck in an underwater liability and can't move to the city/state you would rather be in for maximum happiness and financial return.

Cope more.

>>19077283
>cringe
and you wonder why you have no social life
fucking loser

>>19077361
170/month PMI for 1.5 years
3 bedroom, 1400 sq. ft.
house sold $20,000 below market because it belonged to an old person who died and kids want to get rid of it ASAP

literally do not care about appreciation.
after 5 years, I'll leverage my equity to place a 20% down payment on another home where I will live and rent out the old one for $500 above my mortgage. my mortgage on the new, $150,000 home will be ~$700/month effectively reducing my mortgage down to $200/month if I keep it rented.

the savings generated will be largely saved for home repairs/emergency funds.

5 more years, I will leverage my equity to buy 2 more houses. rinse and repeat.

by 50, I will have over a dozen homes, all with 15 year mortgages.

by 65, I have over a $3 million in property, paid for and $18,000 in residual monthly income. and from not lifting a finger, only being smart.

i then pass this Chad Wealth to my Zoomer children for them to dab on the rentcucks as well.

>>19077614
>stock return 12.5%
look at this fucking retard

>>19077614
>12% from stocks
hahahahaahahahahahahahahahahahhahahahahahahahhahahahahahahahhaahhahahahhahahhahahahahahhahahahhahahahha *wheeze* hahahahahahhahahhahahhahahhahahhahahhahahahhahahhahahhahahahhahhahahhahahahahhahhahahhahahahahahhaah

>>19077614
recall that home equity increases or decreases proportionally to value of home
>about 20% equity in home after 1 year
>20% of 206k is about 41k
>less expenses
>plus salary
>about 61k net worth after one year
HOME. EQUITY. IS. WEALTH.

>>19077614
this retard logic is BTFO with one simple fact:

FHA loans allow for a 3.5% down payment thus reducing the 30,000 down payment to $7000 and adding $23,000 to the homeowner's net wealth

New Score:
rentcuck: $26,120
homeowner: $39,468.88

get fukt on boyo

>>19076158


>>I just spent $200+ on my stupid, useless fetish. How do I get rid of my fetish, or at least never spend any money on it again?

1) Get involved in Politics
2) Get involved in Watchdog of your many institutions/govt/wall street/London markets
3) Search for place to post about Economic Damage done by Corona... or about Financial Conflicts of Interest of players in Corona... or about foolishness of rich people asking people enshrined in financial schemes that demand money flow to banks and utilities companies forcing them into "Fire Sale"....???

>>19077670
B I G M A D

>>19076402
>below market

hehehe he doesn't know

>>19077692

>dont care about appreciation
also
>I will use equity to buy another property

So why not just use cash if you don't care about appreciation?

>assuming any appreciation, let alone over 3% per year property appreciation that would mean you actually generated a net positive return vs inflation
HAHAHAHAHAHAHA
>real estate only goes up
HAHAHAHAHAH

>assuming you will have any equity on a boomerbag in the first place

HAHAHAHA
>cant make 12% on stocks
AHAHAHAHAH

It's like you are 10 and never read a financial book in your life. You are fucking retarded.

>>19077692
I thought you said 30k below market. Sure appreciated fast dinnit. Anyway, stopped reading at "if I keep it rented." Seems like a fun little thought experiment though

>>19076551
And maintenance, which a good estimate is at 1% of the home value per year. So $175 on a $150k house on top of the mortgage. All my calcs also assume a %4 appreciation and take into account amortization schedules. I build more equity renting than I do owning unless I’m already 10 years into the loan or I put down %50

>>19077924
equity is not entirely reliant on appreciation dumbass.

the house could appreciate ZERO dollars and my equity would increase with every payment.

>So why not just use cash if you don't care about appreciation?
what a fucking retarded comment

re-reading your post, I dont think you have a clue what appreciation is lmao.

>never read a financial book in your life.
>thinks he will make 12%/year on fucking stocks
hahahhahahhahahhahahahhahahahhahahhahahahahahhahahahahaahhahahaah stay stupid you dumb rentcuck. this is why i dont feel pity for the poor. you people are genuinely stupid

>>19076379
>mortgage on a $150,000 house

Not everyone lives in a place with $150,000 homes

>>19077827
>Taking out 23k in extra loans is a net increase in wealth
You must be a fucking nigger with that level of low iq reasoning. That is not how it works at all.

holy shit do you even understand loans and net worth? Net worth = assets - liabilities
Increasing your loan by $23k = increasing liabilities by $23k. You are net zero increase in wealth...

>3.5% equity in a home
aka paying interest and PMI on 96.5% of home value. What is that, like 5-6% interest all in because you cant afford a real downpayment? A+ investing loser.

You are levered out the ass in a non-producing negative asset.

>ITT Jamal's first foreclosure

>>19078048
4% appreciation! LOL. This guy is buying it below market because of how shit the area/property must be. I won't expect it to do more than 2% a year, and his purchase actually brought the market rate down a little because that shit is counted in the comps.

>>19077177
The only reason to buy is to use a mortgage. If I had to pay cash I’d stay a renter for life.

>>19078054
That's literally just called paying off principal... and you are doing it retardedly by paying up to 6% on interest first. In your position, you are literally better off just saving the cash to invest, at least you keep all of it.

>Wtf, let me invest in a economically lagging house during a recession vs saving up for stocks during a crash buying opportunity where the average person made over 20% just buying the dip.

>>19076223
>150000 house in america
maybe if you live in a flyover

>>19078048
blah blah blah, you have yet to say how much your rent is and its because you are ashamed.

have fun living in a 400sq foot box among the absolute scum of the earth. thats what it takes to have rent lower than a mortgage: living in the slums.

sad

>>19077614
this math is bunk

>>19076158
I have student loans. How am I going to pay back a mortgage and student loans?

Luckily I'm living at home at the moment but I just don't know how I'm going to do it without earning six figures.

>>19078128
hahahahahha holy fuck take a look at this guy.

you unironically think paying off the principle isnt building equity? hahahaahha I'm done. I cant. you are genuinely retarded. i gotta filter you man. I feel bad.

>>19078139
I’m doing the financially responsible thing. I legit have thought about living in a van and just banking all of it. Are you really talking shit about frugality on biz?

>>19078128
>lol let me just dump ALL my money into speculative assets instead of diversifying between financial and hard assets

>>19078136
what city do you live in

>>19076223
This does not exist in california unless you are in the middle of nowhere or the middle of joggers which is even worse than nowhere.

>>19076223
>house in literal who town with pop. <5000

OP why even try. People with a modicum of intelligence and who have money to put down on a down payment buy homes. Those who can't save enough for the down payment typically rent.

Bought my house 8 years ago. It's gone up in value 25%. That's what houses do - they go up in value, kind of nice. In 22 years I will no longer have to pay rent ever. I can work part time to support myself if I wanted. And if I'm thrifty enough I can pay down my mortgage and burn the interest rate even faster, owning my home clean and clear in 10 years.

Renters flush money down the toilet every month, it's not an investment. You don't have to defend this as financial advice, it's an obviously good investment.

>>19078054
that's weird... just putting money into the spy in 2009 has returned over 15% a year on average... HMMM

>>19078233
>And if I'm thrifty enough I can pay down my mortgage and burn the interest rate even faster, owning my home clean and clear in 10 years.

Why would you ever do this? Mortgages are the best part of property ownership. Once you get your first mortgage you should always have a mortgage.

>>19078257
this guy gets it. secured loans rule

>>19078257
>should always
explain this to me like I'm an idiot

>>19078077
>low iq reasoning
>thinks hes going to make 12% on stocks
lmao, look how retardedly biased your spreadsheet is.
>7000 rent
>$583/month
what kind of shitbox are you living in?
not only that, but if rent is that cheap, a decent home could be snagged for under $70,000 in a similar area. so re-rerun your little spreadsheet with those numbers

Lol using your dwelling as an "investment"

>>19078158
prove it.
>>19078188
housing hasn't been speculative since 2000.jpeg

>>19078174
paying off loans on a property that cost more than inflation is literally throwing money away vs just putting the cash into inflation protected securities
>>19078233
literally every intelligent person in the world starts a business and doesn't throw it all away on a box. You are retarded

>>19078257
Depends on your financial situation and how much you can afford to put in. If I pay down my mortgage (called recasting), it kills the interest, and it kills my payment. So why not?

If you can't afford to pay it down/need rainy day funds then sure. But there's no reason to not pay off your mortgage (and get a lower interest rate while you're at it) if you can afford to do it.

God I want to fuck Anna Kendrick's brains out.

>>19078317
>paying off loans on a property that cost more than inflation is literally throwing money away vs just putting the cash into inflation protected securities
please tell me more how rent is an "inflation protected security" big dawg

>>19078252
put all your money in SPY. do it pussy, I mean its obviously such a great investment opportunity

>>19078304
LOL throwing away 100% of your money on rent when a mortgage is literally cheaper

>boomer managers at my company are finally pulling the stick out of their ass on fulltime remote work due to the Holocough
My lease runs through the end of the year plus real estate prices might crash between now and then so I'm staying in my cuckshed city apartment for a little longer but I already know where I'm going to move and buy a house. It's so comfy looking at houses in my budget there.
>houses with 3-4x more square feet than my apartment
>lots anywhere from half an acre to a couple acres
>white community with white neighbors (I've lived in this town before)
>don't have a down payment saved but have more than enough in my 401k to do a 401k loan for 20% down
>mortgage + insurance + property tax + 401k loan repayments will be 60-80% of what I currently pay in rent
Thank you Chinese government for making this possible and freeing me from the bugman city.

>>19078317
you didnt add equity into net worth for the homeowner

>>19078317
>literally every intelligent person in the world starts a business and doesn't throw it all away on a box. You are retarded

Uh okay, I'm actually very comfy, I'm already at a point where I can give zero fucks about money, with a roommate I can basically sit on my ass. And I could take out a loan on the equity I've made on my house if I really wanted to. Yes being a business owner is the most lucrative profession - it's also incredibly difficult. So it's like saying you're retarded if you're not successful.

>>19078282
If you could make money off of money, would you rather do it with your money or someone else’s money?

A mortgage is not debt, it’s leverage. And it’s the absolute best leverage average jack offs can get. Once you get right side
up on a mortgage, you got a powerful financial weapon.

>>19078388
GOT EM

>>19076158
there are lots of hidden costs associated with home ownership

>>19078416
oh you're talking about landlording and/or flipping

>>19078288
>what are room mates
>$150k is a 1 bedroom house? Made of gold I assume?
If you are dropping $150k on a fucking house, that house better have 2-3 bedrooms. Rent a house for $1500 with 2 friends and you have yourself a $500/month living in a home worth $150k that some idiot has a mortgage on making around 2% profit on net after expenses.

>>19078434
There are. And if you rent its baked in. Someone owns what you're renting, do you think they dont make money on you?

>>19078357
It's not, you spear chucking ape. I am not placing my entire life savings into rent, I am putting that into working assets. How fucking dumb can you be?

>>19078458
this post makes you sound like you think 150k is a lot of money

>>19078373
I already put all my money into my business that makes about 20x more than the spy per year. I am assuming you are mouth breathing retards that couldnt manage a business to save your lives. Seems to be the case.

who is this real estate jew and why do they aggressively post here every day?

>>19078442
No, I’m talking about appreciation. I’m also talking about how once you have a property with a certain amount of equity and appreciation into it, you should either refinance or get another mortgage. To not have a mortgage, even a small one, is being under leveraged.

>>19078388
Oh you want me to include 3.5% equity plus the fractional increase from the mortgage payment? Is that before or after you pay 5% to your broker to sell the asset? Or do you want to take out another loan and pay the mortgage broker their 1-2% origination fee?

>>19078480
U N H I N G E D

literally all you are saving upfront by renting is $4,000 from not having to pay a down payment. thats it. Taxes, MIP, mortage, EVERYTHING INCLUDED is going to be cheaper than rent in 90% of America

if you're living in some shithole where rent is literally $600 a month, there are comparable houses where mortage, MIP, taxes, EVERYTHING will be $500/month

you arent saving dick. but have fun making """12%""" on your little $4,000 you saved, meanwhile in 5 years I will have quadruple that in equity while you continue to piss away money on rent

get rekt brainlet

>>19078414
You can literally do that with renting and using the funds you funneled into your boomer box into literally any other productive asset. For example, people make a living renting houses and then putting them on airbnb. No purchasing necessary.

>>19078567
look how NOW its 3.5% and not 15% like his little spreadsheet states hahahahahaha you're so unhinged rn

>>19078496
Considering I live in a $750k house with 2 people and pay less than $1300/month, you guys are all retards for thinking a $150k home is worth the fucking effort to begin with. Again, I have to bring it down to your low iq, low success neet understandings.

>>19078571
Wrong.
3.5%? Holy shit nigger, that 3.5% is the equity in the HOUSE you are buying and putting a 96.5% loan on.... you are beyond retarded.

>>19076158
I got my 1st house at age 24.
I make about $50k a year.
Best decision I've made.
It's cheaper than renting and it's something that actually increases in value for the most part. House gained 100K value in a damn year.
If I want to change something, I can.
Can make my house more tall people friendly.

>>19078567
Yes, I literally want you to do that. Get crackin rentcuck

>>19076158
I would unironically like to impregnate that bitch

>>19078686
>$50k/year
So you are dumb and poor and have a house to prove it? Thanks for the input anon.

>>19078636
>saving money is bad
womp womp, keep freaking the fuck out about a loan on 96.5% of the house. meanwhile, you dont see a dime back from rent.

in 5 years, you will have pissed away over $36,000 in rent @ $600/ month

in 5 years, anyone with a brain who bought a home will have generated well over $10,000 in equity @ $600/month mortgage/MIP/taxes/insurance

you arent saving a dime like you think and now youre absolutely ASSBLASTED because you just found out about FHA loans and 3.5% down payments

stay stupid, lil rentcuck

Absolutely based thread OP. I was shopping around because in my area housing prices have not moved an inch in 4 years and are due for a 8-10% correction next year. What is some advice you can share?

>>19078609
hey man don't get mad at me just because you can barely afford your rent. maybe if your "business" takes off you can afford a 750k house, just like your landlord daddy

>>19078724
USDA loans are even better, I just made a bit too much money for it.

>>19076158
like imagine shoving your fat dick into her horse faced mouth

>>19078702
look at this guy outright attacking anyone ITT who understands buying is better than renting hahahahahahahhaha he is
S E E T H I N G

>>19078702
>Poor
>Owning a $360,000 house
Pick one rent cuck.

>>19078751

>>19076892
what county/state?

>>19076158
renting is worthless. At least you'll eventually own a property, an asset you can always sell later. Renting is literally a waste.

>>19078691
Okay, after year 1 you sell the house for $204k and after paying principal you made a whopping $12k in equity which is immediately taken by your broker for 6% with an additional closing fees around 1% assuming you could sell the property at exactly 2% above the purchase price paid.

You ended up losing around $662 before any transfer taxes you may have to pay, staging fees, etc.

>>19076158
Meanwhile you had to pay taxes and interest while I invested that same money. Your house does not pay dividends. Well, unless I buy it as a landlord and rent it out. Don't forget to tip.

>>19078872
taxes and interest is factored into the monthly mortgage payment and it is STILL cheaper per month than rent

get rekt dumb shit

>>19076484
whats with the twitter tier cringe normie gifs? i'm all for mortgaging but please fuck off back to plebbit.

>>19078871
>>19078871
hahahahaha look at these mental gymnastics. selling after 1 year? are you fucking retarded?

>>19078871
do it again, except this time show the class how it would look with 6k increase in value, just like in your original example

>>19078724
>let me save money by throwing thousands of dollars into a house that i cant readily liquidate.
>spending 2-3x the inflation generated on the house on just covering interest on the value of the loan you used to buy the shitbox you overpaid for is "saving money".
>is retarded enough to think 10k in equity is generated by paying $600/month in taxes, insurance and mortgage interest
>Still assuming the market doesn't go down from record highs ever. Even a 10% drop wipes out your entire value and possibly makes you underwater

Keep digging this hole, troll. You are so obviously pretending to be retarded now.

>>19078905
The landcuck wanted to include the"equity" generated after 1 year in my proforma, so I did what he would need to do to access the "equity" which turns into literally no equity because of average expenses, which means there is no equity.

>tfw live in australia

j u s t

>>19078905
You've gotta get good at wading through heaping amounts of bullshit spewed on this board mate. You are replying to someone who probably gambles with cryptocurrencies. Their lack of delayed gratification is evidence by thinking in "sell after one year" frame of mind.

>>19078913
6% increase assumes it's actually meeting inflation. It won't so i made it right.

>5 years homeowner: $20,000 in my pocket

Niggers move in next dorr, house loses value

>>19078965
>people actually invest unironically into cryptocoin.

that's as retarded as owner-used properties and stocks tbhf.

>>19078932
Not him, but rent cucks play crazy mental gymnastics when it comes to houses.
You are like that guy who won't ask a girl out because you always think the girl will say no.
It's always
>You can't move if you buy!
>You might lose the house!
>Taxes!
You might lose your virginity Anon, but much like losing a house, it probably won't happen.

>>19078976
6k**

>>19078988
Don't buy a house in a cheap area.
Think niggers can buy a$700,000 house in my area?
NOPE

>>19078995
>Landcucks actually believe the most commonly invested asset in america is actually a good investment

You are on the business board, not the 40 year old financially retarded soccer mom board. This is a place for people who know what the fuck they are talking about.

>>19078976
no, you did more mental gymnastics.
if you're gonna cheat in your calculations, you're only cheating yourself in the long run

>>19078932
>let me save money by throwing thousands of dollars into rent that i will never see again
>is retarded enough to think that no equity is better than some equity
your mental gymnastics only further convey how stupid your stance on the matter is. you lack the cognitive ability to use this same criticism on renting.

small brain

>>19079028
It's better than blowing MORE cash on renting.
I spend less on a mortgage
I get taxed less
money goes to the principal, so I lose even less
Women get interested the minute you mention anything about your house

I can't believe I wasted so much cash renting
So much money burned without any chance of making $$$.

>>19079045
>op literally states interest and taxes are part of equity
>guy showing the true numbers is cheating
I've been a private equity real estate investor for over 10 years. If you think buying a home is worth it, go for it and let the smart people get wealthy i guess.

>>19079028
>This is a place for people who know what the fuck they are talking about

https://www.youtube.com/watch?v=NZR_vMTLfIk
>inb4 Canadian
You fuckers need to give better examples for your points.
Renting, all that needs to be worried about is the months rent and utilities (if any)
Buying, you have a mortgage, all utilities, taxes, insurance, etc. But you also have appreciation.
Assuming the economy shits the bed and housing prices go down, would buying then be worth it?

8 year home owner here, purchased for $240K now worth $610K. About to refinance and pull out $100K in equity and wait for the inevitable housing market crash so I can pick up a second home. Not sure why rentfags are so against making money

>>19079064
>paying fractionally more for rent in order to minimize the financial burden of an illiquid, high cost negative asset is a bad thing.
>taxed less
In what world
>principle is only a fraction of total payment, majority going into loan interest on the hopes your investment actually goes up without any major expenses
>you know you made a good investment when fucking women are interested... just like iphones, expensive clothes and boy bands, they are the true financial geniuses in your relationships.

I get it, you are just pretending to be retarded as a joke. You can admit it now.

>>19079094
8 whole years holding a relatively risky asset after a major housing crash just made me double my money
>have to beg the jews to let me take a loan out on it for 2% of loan amount

wow. Truly inspired

>>19079077
>op literally states interest and taxes are part of equity

I think its time for bed boomer

>>19078609
I live in Orange County. I bought my house 8 years ago for 318k and it's worth 425k. With a rather high HOA I pay 1750/m. Ultimately w/ one roommate I pay $800/m. It's also much nicer than whatever the equivalent rental property is. My rent never goes up, yours will always go up. In 22 years I'll never pay rent again/have an asset that's worth whatever 425k is inflated to in 2042.

>>19079152
>a house is a "relatively risky asset"
hahahahahahhaha how fucking retarded are you?

>>19079157
>in 5 years, anyone with a brain who bought a home will have generated well over $10,000 in equity @ $600/month mortgage/MIP/taxes/insurance

>in 5 years, anyone with a brain who bought a home will have generated well over $10,000 in equity @ $600/month mortgage/MIP/taxes/insurance

Kill yourself troll.

>>19078978
are niggers unironically based?

>>19079174
>guys, a giant box worth hundreds of thousands of dollars and directly tied to economic impacts, migration, acts of god or market irrationality is "risk free" like a government bond literally covered by nukes and the might of the us army.
>nobody got fucked in 2008 because housing is no risk.

Were you even born when the housing bubble happened?

>>19078213
>the middle of joggers

>>19076158
you’re right but imma let the market crash first. fuck boomers.

>>19079263
>housing investing is only good after a giant crash
Everything is, so again, why housing?

>>19076158
homeowner in the US = renting from the jew banks, while paying for maintenance and property taxes + opening yourself to lawsuits cause "homeowner"
>MURICA, FUCK YEAH

Anyone got tips for buying a house? I'm about to get something in the 100-150k range, looking for your basic 3bedroom 2 bathroom deals, 1.2-1.5k sqft. It's been a lot of phoning back and forth but the loan guy says it's best to get money first and then start looking at houses so it moves along fastest and no one snatches the house I want because they could pay faster.
How about renovations? I know it'd hurt resale value but I won't go above the average home price in area for purchase price plus upgrades. I want to combine master suite with one of the extra bedrooms for a proper American sized master suite, other bedroom will be gym/office. All white walls, kind of overdone but the south is about ten years behind fashion and I like the mid century modern meme. Will save me from having to get new furniture too, I already have a few pieces from a cool furniture collector in Memphis. I did a lot of handyman stuff in my teens so that's how I plan on cutting most costs, I only work two days a week so in a few months it should be in good shape. Rent is 1.1k but mortgage is about $500-800/mo. I like the area so it makes sense for this time in my life to buy.

>>19079196
PEPPER YOU ANUS DIPSHIT

$400/ month goes towards the loan.
100,000x2.875% (my interest rate) = $239.58/month in interest
$160 of the $400 goes towards the principal

FOR FUCKING SHITS AND GIGS, lets do $160x60 months. what is that?

$9,625 IN EQUITY

get absolutely RAPED you dumbass, LARPing boomer. in reality it will be closer to $11,000.

dumbass lil rentcuck, learn your place.

>>19079228
What if your house is payed off?

>>19076210
banks need to sell their bags

Found a house I really like at a good enough price but most houses here sell for well over asking

Any chance I could get it at asking if I have a good enough credit rating or something or is this just yet another situation where money talks?

>>19079320
If you dont considering losing your net worth to be risky..

>>19079293
because its a bigger commitment? more responsibilities? i can sell all my stocks the next day unlike a house. im gonna go for the best deal i can for that kind of investment.

>>19079454
I live in Columbus and you can sell your house in a weekend if you wanted.
You can't get out of your lease though.
If you live anywhere people want to live, selling a house is not an issue at all.

>>19079399
More than made up for by renting out excess rooms over a 5 year period

>>19079319
>>19079196
awwww boomer went bye bye

>>19079130
Perhaps this will make more sense:

Old house i rented: $2,000 a month
(Rent is expensive in nice areas)
That's $24,000 a year for a house I will never own or make money from.

VS.
House that I bought:
$1,800 a month mortgage
$2,500 less a year
I get taxed less (3.5%)
$1,750 saved a year
About $900 of that payment goes into the principal, that's $900 I get when or if I sell the house
So I'm really only paying $900 a month
So I save aprox $15,000 a year by not renting.
House went from $360,000 to $405,000 in a single year.

>Inb4 foreclosure
If you think only of potential, failures you might as well just Kill yourself.
I have more than 36 months living costs saved up.

>>19079454
Stocks don't keep rain over your head.
Stocks can't be a room for your newborn child
A home has held a unchanging value for thousands of years.
It's a roof over your head and a place to live.
Market takes a 30% dive like 08?
Don't care, roof over my head to weather the storm

Vanlife is the real hack you brainlets.

>Paid 2k for some shitty 2005 econoline
>Haven't paid rent in 5 years
>Get to live anywhere I want

My FIL is a contractor and he built us our house so I saved a lot of money there, but I still have to pay thousands a year in taxes and maintenance (new paint, roof, windows, water heater). OP failed to mention maintenance costs so he’s either lying or a new homeowner who is about to get fucked with a $10,000 bill to replace his shit water heater next fall. There goes your equity.

What I’m saying is that I’d prefer to just rent some $500 1bd apartment and not worry about any of that homeowner shit and just throw all the money I saved into crypto. But my wife wouldn’t have it and plus she wants kids so I need the space soon. Grass is greener. Anyone who considers their primary residence an asset is retarded boomer, it’s more of an albatross.

>being a idiot home"""owner""" who pays 6% to a (((realtor))) every time you want to move

>>19079313
Being able to pay in cash is indeed helpful. I haven't been in the game for a while but when I was looking, it was basically imperative to be a cash buyer.

Renovations sound easy but are incredibly expensive and time consuming. Combining rooms will most likely hurt resale.

>>19079529
>Brother has a fully renovated Astro
>Shit is nice as fuck
>Women think it's fucking weird
>He can't go on dates or bring women home
>Women think he's either a rapist or bad with money.

I think it's a good way to save money.
But it's not a long term thing.

overvalued boomer asset

>>19079555
>using a realtor in the day and age of Zillow
lmao NGMI

>>19079583
Good luck trying to dump your bags without one idiot.

>>19079539
>OP failed to mention maintenance costs so he’s either lying or a new homeowner who is about to get fucked with a $10,000 bill to replace his shit water heater next fall. There goes your equity
hahahahahaha this is why youre poor

youre not off by, ya know, a couple hundred.

not off by 10 or so percent

you're off by over $8000 hahahahaahaha 80% fucking percent hahahahahaha WHAT A DUMBASS

time and time again, rentcucks prove to be absolutely retarded

>>19079601
pffttthahahaha whatever you say lil bitch

>>19079539
A tankless heater is like $3k, with a tank it's not even half that. Both are easy jobs done by yourself. How do you get the $10k figure? If you do the roof right it lasts 50+years. Paint and windows is just wtf. You're either retarded, or retarded and getting scammed by a guy who charges 4 or 5x too much. Rent makes sense in a lot of cases but you forget how rent goes up $6,900.69 each year and the landlord puts bugs and mice in your house so he can charge for pest control. That's two problems you never face when buying. It's a cost vs benefit thing, no one size fits all answer here.

>>19079319
>$100k house down from $150k originally
>interest rates you'll never get because why not
>not including maintenance costs... do you have a lawn?

Loan: $400
PMI: $80
Taxes: $105
Home insurance: $29
General Maintenance: $130
throwing away: $53,340 over 5 years for a $9,625 loan principal balance deduction on a house with no guarantee to be worth more than purchased: Retard

For everything else, there's having an iq over room temperature.

>>19076379
She’s so fucking ugly it hurts to look.

>>19079454
so stocks are the better option, even though its only slightly better than housing on the retard scale.

>>19079501

>you can't have room mates paying more than the total rent without putting thousands of dollars into a property and having to pay to maintain and keep it.
Just stop trying to make it work... housing is a shit buy. deal with it and try using your brain to come up with better ideas than what some jew on a reality tv show tells you.

>>19079518
>not including downpayment and obligation to pay entire loan no matter how the house loses value.

>>19079518
>Nobody lost their entire life savings and their house because of the 08 bubble. Meeanwhile, rich people lost non-essential investment funds on stocks that mostly recovered within a couple years are are now outpacing the housing market 3 fold.

How many of you are this fucking delusional?
Is this basic lack of simple financial logic the reason why everyone is in fucking crypto here?

>>19079683
dude, just get fucking rekt.

you're throwing away over $36,000/5 years on whatever shithole youre renting that costs $600/ month

a comparable quality house would cost ~600/ month for EVERYTHING, that's where the $100,000 came from. look at you... can't even follow this fucking concept
>"duhhhh you had said duh $150,000 derrrr"
dumbass boomer.
>mowing the lawn
>a maintenance COST
hahahahaha oh no, $10 a month on fucking gas for my $200 lawn mower

what? you going to factor in lawn mower maintenance costs now? fuck off dipshit. you boomers just need to die already

>>19079539
this guy is obviously dreaming, he doesnt even own a house yet, just using online calculators designed to get stupid people to buy bags.

>new roof needed
>New hot water tank
>New siding needed
>Time to rebuild the deck

Talk about a money pit. It never ends AND you pay the government every year for the privilege of owning your house.

>>19079833
People unironically fall for the housing meme. All the brokers, furniture stores and overpriced mexican contractors thank them.

>>19079707
If I'm making 2.4k a month from a 3bed 2 bath with a mortgage that's paid off. How am I not profiting off of it including maintenance insurance and upkeep?

>>19079833
Look at OP charts bro, maintenance is only $130 a year. Kek.

>>19079833
>new roof needed
roofs last 50 years
>New hot water tank
oh no, not a $1000 fix every 10 years
>New siding needed
lol wut?
>Time to rebuild the deck
up the lithium bruh....

>>19079953
In my state roofs only last like 5-7 years. I guess that’s the price of living in a state that has real seasons.

>>19079932
the schizoid youre talking to has convinced himself the housing market is going to zero anytime.

he unironically lives in a $600/ month apartment (look at his little spreadsheet lol) despite being 40+ years old. its useless talking any sense to him. Also claims he's been in real estate investing for 10+ years but couldn't calculate the equity after 5 years on a $100,000 house.

>>19079965
pftthahahahahaha yeah, winter 6 months a year..... GREAT seasons

>>19079965
what the fuck kind of roof lasts 5 years? bull shit

>>19080012
I am so confused by this gril. I know guys that are obsessed with her. And she seems to have a cult following. Am I crazy or is she like a solid 6?

>>19079932
>making 2400/month (net?) off of a few hundred thousand investment.
If you are saying net, then you are not making a solid return.

If that is gross, tell us the net, which is prob around $1200/month, which is even worse.
Oh shit what a bad asssss returns

>t. 7% cap rate or less "investor"

>>19079997
>market only has to go down 5% to fuck your entire investment with interest
>28 years old. this dumb nigger cant even count 10+18
>You cant live under $1000/month in a good town, even with room mates since any single person needs 2 bedrooms and an office for themselves to jerk off in.

>>19080101
>market only has to go down 5% to fuck your entire investment with interest
-market goes down 5%
-oh fuck would you look at that, literally nothing happened
-market goes down 5% while rentcucks like yourself are renting from me
-oh fuck would you look at that, literally nothing happened

>he has to share a living space with two other people in order for renting to be cost effective
hahahahahaha literally fucking beaners.
what? thats gotta be like 15 people all within the same confines of the size of my house, separated by 8 inches of paper thin walls hahahaha

what a shitshow. no fucking thanks.... 3 people in an apartment. imagine the smell.

>>19080172
>renters ask lower rent
>you are underwater
>we laugh at you
>saving money with room mates is bad, but spending literal thousands for a shack in ohio is smart.

just end your life and spare us

>>19080184
womp womp more mental gymnastics

S E E T H E

>>19080074
It's gross, it's not great but it's stable in case I ever lose my job. And it's still profit in which I can then leverage unto other assets. Luke maybe a cheap ass multiplex which would than be a great ROI.

>>19080184
>landlord raises rent
you have no choice but to pay, the homeowner can refuse to lower rent lmao

>>19080184
all this talk about suicide.... are you ok man?

>>19080211
>Landlord raises rent over market
>just move and leave you vacant for 3 months

>>19080234
pftthahaha what a shitshow. ope, gotta rent a UHaul, hope you factored that into your cuck expenses

It depends where you live. If you can rent a house for below market value and then invest the difference then you are building more equity than the person who bought the house. Millennials who rent those hip new studio apartments that are refurbished old warehouses and factories that are in a downtown bar neighborhood for $2k per month. Yeah those people are retards.

>>19076223
>American
>buys chink shillcoins on a mongol basketweaving forum
>150k buys you pic related in a 70% diverse colony
Oh Anon, t-thanks! I go take a loan right now! I promise I will take the first offer from the banks and happily pay back that 400k in 40years.

>>19080201
Remember, if you lose your job, its probably based on a larger economic issue that already effects houses and rents.

I'd say remember to diversify and get as much of your equity out and producing in diversified ways as possible. Rule of thumb is never keep more than 5% of your net worth into a single property, especially if it's your residence. Try to qualify it as an investment property so you can roll it in a 1031 exchange to not pay any taxes on gains. Get something with better financial metrics.

>>19080344
all this talk about job loss.

learn to code...

>>19080627
>needing a job
I was smart and invested $1500 in some product that now makes me $150k/year. only took a couple months... but please, keep going on about spending 2-3x that to make 1/3 that in 5 YEARS lol

>>19076158
>$20,000 in my pocket
I don't spend on X so I can spend on Y and therefore I win, a real genius right there the next Rockefeller

>>19080344
>Try to qualify it as an investment property so you can roll it in a 1031 exchange to not pay any taxes on gains.

Primary residences already have massive tax benefits. You're probably okay either way unless you're in a HCOL area where the primary residence tax benefits are nothing in the face of $1M+ homes.