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/biz/ - Business & Finance

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20263060 No.20263060 [Reply] [Original]

Should I buy my neighbor's $250,000 house and rent it out for $2500 a month while I continue to sleep on my parents' couch in their living room?

>> No.20263222

yes

>> No.20263230

>>20263222
Checked and this. Also you could knock down the fence and have more space

>> No.20263233

>>20263060
only if you plan to make the house nice; don't condemn people to live in some shithole.

>> No.20263246

>>20263060
Yes. Are you buying it in full or putting a down payment? Maybe you can negotiate a lower price with your neighbor

>> No.20263264

>>20263060
No trolling

>> No.20263395

If it's worth $250k i doubt you'll rent it that high. I rent out a home I bought for $265k for $1800... I then converted the garage to a bedroom and charged an extra $500 for it.. mortgage is $1812 .. break even after utilities and very minor upkeep expenses.. the house pays for itself. This while I lived at my parents from 19-25 first time buyer only had to put a few grand ....

If you have at least 30k do this move I did at 25

Buy a duplex or a 2units (houses) 1 lot ... Rent one of them live on the other .. my mortgage on this one is 3k a month ... Renting out one of them currently at 2200 .. paying $800 plus utilities at around $250ish ..

Im really comfy living and extra money went to stocks,crypto no debt and high yield savings account ..

>> No.20263664

I would absolutely do this. Cryptos go up and down but your money is safe in houses.

Pro tip: rent the house to a group of girls. I've seen movies of what happens if they don't have the rent money.

>> No.20263669
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20263669

>>20263664