/biz/ - Business & Finance

>>25683059
>55k for a 3bd house

>>25683059
In your head, do you fantasize that your tenant’s rent will cover both your mortgages?

>>25683059
>implying that your white trash tenants wouldn't constantly fall behind on rent and let their dogs piss all over the carpet

Who is there to rent to in the Midwest besides niggers?

>>25683059
In Australia you need 100k just to put a deposit on a 1 bedroom apartment

>>25683059
I live in NYC, stay in california you piece of shit

>>25683059
So you say midwest, can you be more specific

>>25683217
I live here too. I love not being able to invest in Cardano.

>>25683059

Midwest here. Keep your commie bullshit on the west coast.

>>25683059
nah rent both out and rent a place yourself in a cheaper state
also mgmt? it’s called a phone neanderthal

Cali fag here
Leave so I can buy your house pleb

>>25683059
I dunno man living in rural shit I’d rather take a shit box in cali then a house here. I’d probably go halfway and pick a decent Florida city and just pay half the cost

Fuck off, we’re full.

>>25683059
things to consider:
1) as >25683113 points out, rent from the one house is not going to cover the mortgage payments for both houses
2) if you get a bad tenant, you're absolutely fucked -- especially if you were thinking about buying in Illinois, where non-paying tenants get to squat for a year or something
3) you might be better off putting 40% down on one house and living in it; less stress from renting out and much less debt to worry about paying off

>>25683524
>>25683165
>>25683089
>>25683113
Did you not read the post? I want to make this decision after I have 100k liquid which means I can literally pay for both houses valued 50-55k or so but I will finance them both with 20% down and have the rest 80k available as cushion or for any repairs, unforseen expense etc.
then yeah hopefully someone pays at least 500/mo for 3bd house? That isn't unreasonable at all and could fit the area I decide to go to. These places exist I see them all day browsing zillow, and it is ansurd to me that I have enough money right now to buy a house in a state nobody gives a shit about, but I would have to save for 3 more lifetimes to afford something in California. I love the state but there is a lot to say fuck this place about

>>25683758
FUCK OFF, WE’RE FULL. Stay in your shithole state. Any commiefornia movers are instantly shunned in the midwest, don’t say I didn’t warn you.

>>25683190
>Who is there to rent to in the Midwest besides niggers?
idiot white people like my parents and most of my senpai

>>25683834
Hey dipshit I was born in Illinois so suck my cock you poor bitch. You don't even know what commie means

>>25683059
> *votes democrat*
> geez this state sure has gotten shitty in recent years, better move to <insert republican state here>
> *votes democrat*
> geez this state sure has gotten shitty in recent years, better move to <insert republican state here>
Pottery.

>>25683059
I live in Oklahoma. Please choose another state. I've already seen enough of you cali faggots this year. God I hate all of you.

>>25683893
I didn't vote democrat though. Does that make you a fucking retard because it kinda feels that way

>>25683909
Why can I buy a home in your state with a year of my mediocre salary then. I will buy your shit and evict your loser

>>25683089
This one actually has 4

https://www.zillow.com/homedetails/6509-King-Hill-Ave-Saint-Joseph-MO-64504/110509116_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare

I lived in the Midwest, you aren’t going to find houses worth 55k unless it’s in a dying small town. Good luck finding a tenant when everyone is old white boomers who bought their homes in the 70s and whose kids all moved to the city.

>>25683758
>I love the state
Then you deserve what it's done to california.
Fuck you, stay and die there.

>live with landlord
>he’s wealthy af houses in aspen etc
>talk about investing and crypto
>tells me i’m better off in real estate as crypto is a ponzi
>tells me later he’s gonna sell off his properties bc of tax breaks
>i explain his property values are due to inflation and this tax break is itself a ponzi scheme
>says housing is going to crash due to income inequality not matching increasing prices and he’s cashing out to diversify
>still tells me to buy real estate
i can’t even

>>25684249
The town is dying but are the people? If there are people who live and work in the area I have to assume they need housing of some sorts, people get old move away etc. New people move in. This is nothing new, but real estate is seen as a stable invesent for a reason. For one thing it's real

The only thing commiefornians should be buying is rope for themselves.
Stay the fuck out. We are full. Especially for your kind.
Cars with cali plates get vandalized immediately here.

>>25683758
>own two houses
>two mortgages
>rent one of them
>still have a mortgage
You do have a plan to make an income right? Also, getting into investment properties is a shit idea now that sleepy & co. are in charge and the rent is free until further notice.

>>25684249
This. There is no opportunity here. Things may look bad in commiefornia but it's just the facade in picrel. Things are even worse in the rust belt/midwest with industry having died. Anywhere that isn't a dying industrial town is just farm land

>>25684356
real estate has enormous returns
on 50k down for a 450k house if the price doubled and you cash out you only ever invested 50k and now have 500 plus whatever your tenants paid on the principal

>>25684344
Yeah he's a lot smarter than you, you should listen to him instead of buying digital funny money.
>>25684321
>hurr durr
>commie this commie that (never mind I never even read the manifesto or met a real commie nork)
>hurr durr hate California because west hollywood and san fran degeneracy
You will swallow our products and culture all the same you worthless lemming. Now move over as I buy your real estate and make you pay for my early retirement

>>25684387
NA housing at it's finest hahaha just punch a fist hole through each wall hahah

>>25684386
In this scenario (if you even read OP) I have enough money to buy both prop outright. My income comes from a tennant(s) and the local wal mart or wherever the fuck I feel like working. Probably grow fat amounts of weed too

>>25684356
The people are dying too, the fact is, unless you work in agriculture there are no jobs left - and those jobs are going away too because the Federal government pays farmers to let their land go fallow. All the kids leave the town for the state capital or to NY/CA/TX and only comeback for Xmas. Every year the average age of the town increase and the total population decreases. The writing is on the wall, small town Midwest is a corpse. Anyone who stayed behind is either a boomer who already made it, a Mexican, or a meth addict.

>>25684511
>everyone goes to CA/NY etc.
And how many had to move back after their failed hopes and dreams of being a youtube pottery star or tik tok notary went poof this past March?
People will always need a place to live, people are always moving around I am confident tenants will be found.

All you faggots can eat a dick. Californians are going to flood the rest of America and you guys all deserve it. Since the time of the fucking Oakies, everyone who wanted a better life came to California. Every dumb bitch from the south that wanted to be an actress, every lazy midwesterner that wanted a job after auto and steel went bust, every stupid fucking east coaster who wanted to retire in a nice climate - every hippie, every nigger, every dustbowl moron and unemployed spic... all of them headed north and west for the promised land and completely screwed this state up. Now it's coming back to you and I hope you all choke on it. America made California a shithole. Now California gets to return the favor.

>>25684579
I've lived next door to two rentals and they both sat vacant for at least two months transitioning from beginning to mid/mid-late fall. It's probably worse in other places.

>>25684639
This is a dangerously based way of looking at it. Ideally my future two houses are less than 50mi from a metro or capital, or near a decent college town or somehwere I will sell my hash in.
I would like to be near national forest too, that might be kind of nice. I just take my flush California money and make smart long term investment in another state, the main drawback being it's *not California. /biz/ is stupid shilling coins all day I am talking about real appreciating, tangible assets

>>25684579
Yeah they fail and then move back “home” to some midsized Midwest city like Kansas City, Des Moines, Indianapolis, Minneapolis, Omaha, etc. They don’t go back to their hometown of 10k with one gas station and a subway.

>>25684683
okay so when someone isn't renting it I am using that space to grow more weed

>>25684639
fucking noob

>>25684737
Okay and those are exactly the places with property I can actually afford. So these retards leave Cali and go back just to rent from me.

>>25684639
As a Californian descendant of Oakies, this is absolutely true. There are still parts of California that resemble what it was before. A lot of communities got destroyed or irreverisbly altered by waves of morons crowding into Los Angeles and San Francisco, then they radiated outward and ruined everything else.

>>25684799
You are not finding any 3br house worth 55k in any of these cities that is in any condition that appeals to white tenants.

>>25684991
It's like you can't even read. I doubt you are white desu. I said surrounding areas, suburbs of metro and yes they exist I have seen the types of listings I have described already

Also you need to think longer term when investing in real estate. At the moment each of these states can support one midsized city and this is because it is sucking the life out of all the small towns across the state and funneling all everyone into that one city. We are reaching the point where their is nothing left in the small towns for the big city to take from. So now the cities will whither and die. Trust me, I grew up in the Midwest. It used to be utopia in earth but now it is a hopeless situation long term. Look at Detroit. That is the future for every Midwestern city. If you had invested in real estate in the 70s and 80s in Detroit you have been justed more than anyone I can think of (except xrp holders)

>>25685103
>55k house in a city
link it

>>25685103
Suburban homes average at least 200k in these cities. 50k is a 50 year old 3br in a hollowed out town with an abandoned auto parts factory one hour away from the “big” city.

>>25684639
The truth is, you were the original refugee. Your ancestors thought they could just pioneer their way along the frontier to escape the constraints of civilization and its tyranny until they finally reached the coast and had to stop and settle down. Behind you the demographic tide washed across the fertile land of America hastened on by the infrastructure your ancestors' entrepreneurship erected behind them. Finally now there is nowhere to run. It's all one big prison planet with no escape.

At least it's going to end soon

>>25685158
>suburbs
>surrounding areas
>city
You fucking retard
>>25685163
See >>25684131

the beach cities of commiefornia are actually incredibly white and based

>>25684487
>buying two homes in the midwest 3bd+ no more than 55k each putting 20% down
Thanks I did read the OP.
If you put 20% down you owe 80% of the OB. That's mortgaged.
You may want to actually model this financially before you end up fucked over on this whatever dude life plan.

>>25685211
Wow, only 55k for a broken down shithole with holes in the walls. I'm sure you'll find plenty of upstanding tenants who want to live here.

>>25684579
>And how many had to move back after their failed hopes and dreams of being a youtube pottery star or tik tok notary went poof this past March?

Very rarely do they go straight back. People are going to move to Columbus, Ohio before moving back into Tiffin, Ohio.

>>25685304
Did you read the part where I have 100k before making the move? You didn't read that part did you? No you didn't

>>25683059
Move to Austin TX

>>25685320
Don't worry, im sure you could clean up the black sludge on the carpet with some soap and water.

>>25683059
you have to go back

>>25685373
Just put some paintings over these holes, nobody will notice.

>>25685320
>>25685373
>one hole in drywall is enough to not buy a hole home
Are you fucking retarded? Honestly are you 16? You know people buy burnt out shells of homes. There is a whole profession that thrives on something like this... called home depot and carpentry. I am sure I can't fix that with the 80k in my pocket huh
>>25685352
Or el paso. There is a big titty girl there who would have my babies

>>25685428
shill me El Paso

>>25685455
Stay away from my lady anon

>>25685211
Wow 55k 3br in a city that peaked in 1900 and has still continued to decline in the last 20 years despite massive immigration from Mexicans. You should totally invest in this city, it’s going places.

>>25685428
>dont worry its just some holes in the walls
>its just a scratched up floor
>its just some broken tiles in the bathroom
>it's just some mysterious black goo on the carpet and walls

>>25685211
hey anon
That house you posted? It's a foreclosure. You generally cannot finance these and must buy them in whole at auction. Looks like it just happened this year too. In Missouri homeowners have a year to redeem a foreclosure. They may also be squatting. And if they didn't pay the mortgage, they may not have paid taxes on the property either, the balance for which come as a lien that you need to buy out to get the rights.
>>25685349
I think you are acting very naive about this entire strategy and really have no idea what you're doing.

>>25685428
You're a retard dude there's much better opportunity in California. Or go to Texas. Apparently a lot of cities there have economic growth which would mean further property value growth in the future as more people move there the midwest is dying

>>25685474
That's one example of a home in the price range I am describing. It's not like there aren't 1000s of other homes out there no definitely not like that at all. The only reason all you contrarian faggots keep replying is because you realize this is a decent plan and you didn't think of it first and can't save enough to pull it off either

>>25685524
A decent plan would be to take your 100k and use it for a down payment on a quality duplex in a housing market that isn't trashed.

>>25685497
Okay and when I pay 55k for a "move in ready" home what is your gripe then faggot

>>25685540
Single family homes are better than ducucks

>>25685524
Every single 50k home in a decent area will be a foreclosed shithole. You cannot fix these houses with a few buckets of paint and you cannot finance them.

>>25685549
Good luck finding an outlier like that and getting someone to move into it when that house is in a neighborhood where it is the outlier

>>25685549
That's not going to happen. You will not find something like that that isn't in the middle of niggerville or a dead town with nobody in it.

>>25685570
I'm glad you have it all figured out. This thread you made, asking decent plan or nah, in which everyone tells you nah, has no meaning. Buy them up OP!

>>25684374
Dude, that's not even true and you sound like a big fag for saying so.

>>25685524
The situation of this town is endemic across the entire Midwest and on average much worse. There are towns that have declined 25%-30% since 1990. The situation is only getting worse and once it’s done with the small towns it will start to hit the midsized cities. For an investment in real estate you should invest in places with a growing economy and population, this is the antithesis of the Midwest. Your plan would work much better in TX, Florida, the Deep South, West Coast, or AZ,

>>25685607
>>25685602
>>25685573
Do you even look at zillow or have you cucks just given up? Try pretending you aren't embarrassed millionaires right now and play with the filters a little. There are 50 states and more than enough idiots to house, Biden will surely import some more in the next 4y, simple as

>>25685659
I've been posting pictures from your link.

>>25685659
You seem pretty set on doing the thing, dude. Maybe you should just go ahead and do it if you're so sure. Where there's a will there's a way, right?

>>25685645
I have no problem looking at American SW and Texas as well. I research the areas I am interested in and of course look at the local economy and growth etc. Had my eye on Texas too

>>25685677
I know you dummy and it was just one example of thousands. Literally thousands of move in ready homes for a price I can afford

>>25685732
Why did you make this thread if you're so confident that you know what you're doing?

>>25685753
Also you've gone from "wow look at that great example i linked" to "actually i knew it was shit all along".

>>25685707
Trust me OP, don't bother with the Midwest. Any good deals that may be found will be taken by some cash rich farmer who is smart with his money and let the rich cali retards buy overpriced lemons. Long term though even the good deals will end up as losers. TX and the American South have a much brighter future.

>>25685780
I didn't once say "great example" you are now projecting your bullshit because you have nothing else. Anons say 3bd doesn't exist and it clearly does which I linked, there are better examples and I have seen them myself, you can look if you want I won't spoonfeed you
>why did you make this thread
Hopefully to hear from actual real estate investors not retarded anons who buy too much avocado toast

>>25685786
>TX or American Southwest
I really am leaning this way as well because the climate is a little more what I am used to. And I want to grow fat weed and you can do that in CO, AZ hopefully NW or TX but I would do it anyways

>>25685844
Why did you decide to link a shitty example? If there are thousands of nice 50k homes in good areas then why are you unable to post any?

>>25686094
Because it's 1am and I don't feel like posting my future investments for you. Not that you can afford it with your McBiden bux anyways

>>25686135
Jeez anon, are you lying to me? Could it be that you really can't find anything and you're making up excuses?

>>25686173
https://www.zillow.com/homedetails/102-Wilkinson-Ave-Iowa-Falls-IA-50126/86954730_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare

>>25686226
https://www.zillow.com/homedetails/135-1st-Ave-NW-Oelwein-IA-50662/123315053_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare

This one is cute

Another one under budget I am looking for
Surely nobody in Omaha exists to pay 500 a month for this

https://www.zillow.com/homedetails/231-Canfield-St-Beemer-NE-68716/107148681_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare

>>25686362
https://en.m.wikipedia.org/wiki/Beemer,_Nebraska
Median age of 52 and double digit population decline. The perfect place to raise a family! And you'll only spend a mere 3 hours a day commuting to your job in omaha. Great investment, I see a bright future for this town.

>>25684344
People know what they know. They can only offer what they know.

>>25686610
because people only live in Omaha anon, nowhere in between,
just admit that you will never be a woman no matter how hard you try. /biz/ is not your strong suit

>>25683878
Stay in your communist shithole state. But if you’re insisting to move in the midwest, I highly suggest you move in Detriot with your poorfag budget.

>>25683059
It's an ok idea but the places you'll get for 55k you'll have awful tenants if you can even get it rented out.

You'd be better off using the 100k as a deposit on a $200-300k house somewhere half decent like a university town or somewhere with an industry rather than some meth hiv shithole. Then rent yourself a cheap studio apartment nearby or in a shittier nearby town.

>>25683059
How about you stay in your shithole state and stop fucking ours up

>>25683059
Go to Mexico, you're not welcome here

>>25686301
https://en.wikipedia.org/wiki/Oelwein,_Iowa
Oelwein, Iowa
>6415 population
>Hog enclosures west of the town on 30th and 40th street, I'm sure those will smell nice with a steady westerly wind.
>Railroad running through the middle of the town, sure to be in use the entire fall long during harvest season
Sounds like a good investment