/biz/ - Business & Finance

>buy house cash
>after you have the house negotiate a mortgage

also the trouble is i dont want to prove to anyone i have a lot of crypto in the first place... then i am sure the government is going to treat me like a criminal
its so stressful bros.... getting a couple million is unironically just the first small baby step towards making it

Buy 2 houses and rent one.

>>28537191
>buy 2.5M house
>pay property taxes out the ass

haha no thanks

buy a penthouse condo on the water like me

>>28537281
so you're saying i can just buy the house first then go to the bank and offer the house as collateral for a big stack of cash?

>>28537191
You buy land, not house. You then sell the land to people who want to build house.

>make consistent gains for several years
>actually report this on your taxes
>use several years of tax documents to prove income to bank
If you want the system to work with you you have to work with it.

>>28537295
Pay your fucking taxes

>>28537381
from what im seeing the property taxes on condos in the city/on the water are way higher than a house
also im seeing the average HOA fee for these being over 100k per year
not so comfy bro

>>28537191
Set up a shell company, employ yourself, show regular payments and also avoid capital gains taxes. Fucking retards, I don't understand why this shit is never talked about here. You dumbfucks enjoy getting assraped, do you?

>>28537432
>You then sell the land to people who want to build house.
rent to them, right?

>>28537465
its not about not paying the taxes... i tried to deposit some money into my bank once and it was like i was trying to send money to al quaeda
and it was only a few thousand bucks... i dont trust these guys bros they treated me like a criminal for trying to deposit a few grand in cash and i can only imagine what will happen when i tell them i have a bunch of mills that appeared out of thin air.
i dont have shit for documentation i bought these btc back on sites t hat dont even exist anymore... theres no way to prove how i obtained them or anything

>>28537191
very unlikely they'll accept crypto as collateral or proof of income
you could set up an appointment and see if they'll take a Vanguard mutual fund as collateral, then the fund and house will both appreciate

>>28537482
Retarded consumer needs a McMansion and can't afford it. Go and make some money and get some perspective nigger

>>28537532
i thought they cracked down on this method

>wait until you can buy a house in btc
>buy a house in btc

>>28537676
>they treated me like a criminal for trying to deposit a few grand in cash and i can only imagine what will happen when i tell them i have a bunch of mills that appeared out of thin air.
Thanks for the laughs

>>28537191
Get a crypto loan from Celsius, Nexo, aave, or compound. Pick whichever gives best interest. Your crypto will be the loan’s collateral but there’ll be no credit check.

>>28537384
Yes of course. The bank would probably be happy to give you a mortgage for 50% of the value of the house. It just means they get a chance to snatch the whole house at 50% off if you don't pay.

>>28537858
yes ive considered this but then i will still have to put down 100% for the house plus my crypto will be locked up as collateral since those loans are overcollateralized.
i want to get some of that sweet 3% interest government funny money with only 20% down

>>28537381
Condos hoa fees and rules are fleece tier for responsible earners, ie whites

>>28537897
and it will be the same rates as getting a mortgage in the first place?
ok.. this is pretty based it sounds simple when you put it this way

>>28537676
I've done several 5k+ transactions to my bank and they haven't done or said shit to me besides upgrading my credit limit

>>28537834
its not really a joke. Have you ever gone to the bank with cash? They seriously treat you like a criminal.
I would be very afraid to get on their radar with millions in crypto money when ive never had a job, never really had any credit besides a few basic cards.
Just feels like I will be asking for trouble and the government will say im a terrorist or something
ive never sold any crypto or anything. just held

>>28537384
Just give the guy a Ledger, sign it into law, and tell him to get out.

>>28537676
Translation:
The bank asked me for my details and I dropped my spaghetti

>>28538600
>"sir where did you get those bitcoin, you don't have a job how did you afford all of those?"
>u-u-uuhh i got them on this thing called a btc f-f-faucet for free
>"sir thats impossible, im calling the fbi and having you arrested. You cannot prove those bitcoin are yours so we will take you in to custody until you tell us where you obtained them"

tfw boomers got their bags cheap 30 years ago and are popping them off at insane markup because you have to fucking live in the bag

devious

>>28537676
>deposit? oh no problem sir, what is it that you do?
>I FUCK

>>28538364
i know this feel bro, im actually nervous to cash out because i know ima be asked a lot of questions. how do i tell them i get all my investment advice from a cambodian tranny anime posting board

>>28538981
whatever boomers are buying my crypto bags that i got for way cheaper
it all works out in the end.
Im praying that there will be some sort of DeFi mortgage solution....
but i have a feeling US (((regulators))) will not allow it

>>28538364
>>28538852
Have you considered telling them to eat a dick? Transfer few hundred k to your account, walk into your branch like a fucking boss then demand your money. Speak with a loud voice and assert your dominance.

>>28539053
i may just keep living in my cardboard box until there are DeFi solutions to all this... i've held out this long and i understand crypto
traditional finance scares me and i feel like if i try to use it im just going to get fucked by some boomers because of some strange law or paperwork i forgot to fill out

Why do people want a big ass house if it isn't to have people over all the time and organize status parties?
It's endless work and maintenance and cleaning

>>28539810
you know i've considered this. The big thing that drives me away from condos is the dumb ass HOAs
if i buy a place i dont want to be cucked by whatever lady is the HOA leader

>>28540087
I built a house and moved out of a condo. Condos suck. Sharing walls like a chink and they raise HOA dues all the time

>>28537191
You cant get any loans without income. You can get a cosigner though

>>28540706
yes this is what im afraid of. Honestly im a shut in neet type guy so i dont really need all the extra space, but at the same time i want to be away from people. You know?
I feel like I'd be fine in a condo unless i wanted to start a family then id need a house but its like you said... HOA sounds like cuck status

What's the point of a big house if I don't have a wife to come home too?

>>28540893
hmm this is a good idea my gf has lots of family members in the tribe... maybe i should start to befriend these people

>>28541140
idk, i just want to live in a nicer place in the mountains that I can go skiing from/have a good view.
Ive lived in ghetto areas in florida all my life and grow tired of living around trash tier people.
I think someone could make a lot of money connecting crypto neuvo rich to real estate because im sure there are many retards like me who will get rich off crypto and have no clue how to get into home ownership

>>28541182
Talk to a loan officer to see what the requirements are. This is just a conversation and neither one of you are obligated. A cosigner ought to be able to make it work. You probably need 20% down to avoid PMI

>>28537191
Getting a house loan on assets only is possible. But I'm not sure if they are going to count your shitcoins as assets.

>>28537465
>Pay your fucking taxes
Fuck taxes and fuck you. I'm not paying 40% of my income for niggers and single moms

>>28537532
And in a few years the BLM riots will start up right on cue and fuck you over if you are in a city.

>>28541631
is maintenance on a home as bad as they say?
I think my next big dilemma is home vs condo...
i talk to a lot of home owner people who say go for condo because owning a home is a pain in the ass
but from what im seeing condos are really expensive compared to what you get plus you have to pay lots of extra monthly fees

>>28537532
>>28541904
Can't you set up an online LLC shell company? Say your company works in SEO or some shit

>>28537384
That's called a reverse mortgage, and yes.

Don't have time to read all of the above and haven't tried it but what about buying bullion with btc (I read a lot accept it now) and then selling it when it arrives and depositing the money in your roth IRA or whatever. Do that over a long period of time + pay expenses with btc whenever possible.

>>28542245
House maintenance is no big deal. You have to mow the lawn and other stuff regularly. Condos still have maintenance. If an appliance breaks its your problem. No stupid HOA fees either. You could probably take what you would paynin fees and hire a lawn care service.

My brother had a condo and it needed a new roof. They hit everybody for $800 to pay for it and that was on top of the fees. I would only live in a condo if I were crippled or a total shut in

>>28542903
oh i see
yeah a condo seems like a meme i guess i will just live in my cardboard box until i can go for the full house