/biz/ - Business & Finance

Okay you got me!

I financed something once!

It feels like rape!

>12k in student loans, 2k in credit cards
Come at me

>>345285
>will be getting 41k in student loans in the next 3 years

>>345285
Yessir. I picked up a mortgage to buy a house then ended up selling the house at $80k profit a few years later. Huge mistake huh?

I have credit card, but I pay in full every month. I will be buying a house on mortgage eventually (tax deductible interest, how horrifying!)

I have a credit card that I pay in full each month, while getting cash back. Win-win situation.

>>345285
ITT: edgy teen read one book on Warren Buffet and thinks credit is evil.

>>345299

Ditto. I also have some credit card debt.

Not going to dwell over it. What is the point? I have been paying shit off pretty well and I am not married or anything so my expenses are low. I often times have disposable income even with my debt. The self defeating attitude of some is amusing

>>345285
i bought a house and have a credit card but never had debt...

Going to get £27,000 in debt if I go to university in the UK to study Law, the repayment is taken out of your income straight away as a set amount by the government.

Is it a smart idea to go to Uni people?

Bought a house at the bottom of the market, it's now worth $100,000 more than I paid for it.

Financing it at 3.25. Feels good man.

Buying a house at 20% down is infinitely better than renting.

>>345491
What kind of Law?
If you're dedicated and plan to go into something like corporate/contractual law you'll be making 6 figures in 5 years time.

If you're shooting for criminal law or some other cause don't expect to make much money but least you'll be working for your principles.

If neither one is you don't waste your time or money.

>>345524

Was considering going into the army (as an officer) after I got my law degree and once I'm out of there, going into a PMC (assuming I'm not dead) and earning £200,000 or possibly law.

Law's great in the UK (apparently) as it shows true dedication and work skill, not many people come out of it with high grades (which in all honesty I doubt I will).

I've read stories of people joining the armed forces and putting all their money away until they retire at 50 with £1m+, no idea if it's government shilling though.

>>345285

>2008 + 6
>Not taking advantage of 0% rates to buy on margin, refinance mortgages, and issue bonds to expand your business

It's like you missed the entire point of ZIRP.

>>345285
What's wrong with buying a house? How is renting better?

>>345285
>I have about $5k in student loan debt, but I also have a bachelors.
>I'll also be starting a masters program very soon that will be financed from savings I have from working through college.
>I currently work in accounting, which was only possible from the aforementioned schooling.
>I have a small credit card of which balance I pay off every month.
>I am currently saving for a house, which I will take out some debt to pay for the rest. I will not be throwing my hard earned money down the toilet by renting.

But let me guess, you are a 10th grade dropout, private business owner who makes a million dollars a day in profit and live in the woods, amirite?

Boy it sure is summer in here. Hey buddy, >>/pol/ is that way. You can talk about this, plus jews, niggers, and a whole lot more with fellow edgy 16 year olds like yourself.

>$50k in student loans
>$50k investment portfolio
>generating more than enough in dividends and interest to make loan payments
>amidoinitrite?

i almost fell for that bait, my dad urged me to buy a house but i rented instead, and payed down my student loans as as soon as i could.

i scare myself at the thought of how close i came to buying a home.

>>345647
>What's wrong with buying a house?

>mortgage
>taxes
>repairs
>utilities
>can't move whenever you want without a contract

This could easily total $1,000-$1,500/month for a $120,000 house.

>How is renting better?

I could rent a room today for $500/month, no lease, month-to-month, all bills paid. Can use the kitchen (dishes, pots, pans, etc.). If a job opportunity comes up in another city or state in a year or 2, boom I'm there. If you don't hoard shit, you can move anywhere in a day.

I bought a 30k car at 19.

About a year and a half later I still owe 17k on the SOB.

>>345696
>renting
>not living in a van

do you even frugal?

>>345703
>It says here you live in a van.
>le trash face

Employers love people that live in cars.

>>345703
Also, you're not saving that much (gas, repairs, money fueling some sort of Air Conditioner).

>>345708
>he lives his life as an employers bitch even when unemployed

>>345285
I had 3 cards with over 8000 total credit when I turned 18. Didn't really use them until I turned 19 then racked up over $5000 on stupid shit (college stuff, eating out, drinking, etc.). Told my parents and they had me pay them off with savings I had in my Roth.

2 years later I run up even more and default on all 3. Had letters, calls, and all kinds of contact from collectors for 2 or 3 years and all I could get was a $500 secured card. After I had worked for a few years and saved enough, I paid off a negotiated amount on the defaulted CCs. A year later I got a mortgage and bought a house and now have $30k in LOCs (no debt) and a FICO 720.

My mortgage broker told me the only way I could have possibly made it through underwriting was through using the secured card and the fact that my parents had me as an authorized user on their American Express cards for years which I had no idea until they pulled my credit.

>>345696
>I could rent a room

Some people over the age of 18 want more than just a room.

But hey, in 15 years, I'll own a x hundred thousand dollar asset and you'll still be looking for landlords to give your money to.

>Repairs, utilities
If you aren't stupid, it's not hard to budget for things like this. Instead of buying the latest iPhone, you use the money to fix your house up. It's called growing up.

>Moving
That's one of the few cases where renting makes sense.

I don't see why having home mortgage is a bad thing.

Either you are paying your own mortgage or you are paying someone else's mortgage.

Even if you sold the house the exact same price you bought it, you get money back that you paid into and if you stick with it, in 30 years you can stop paying the mortgage altogether.

If you rent, you will always be paying rent and you get nothing out of the money you pay the person who actually owns the property you live on.

>>345708

>Not telling your employer your parents address or the address of a relative or friend.

>345696

Top kek.

All landlords pass the cost of taxes, insurance, and mortgage to the renter.

I have a family member who actually buys homes, rents them for 5 years, and sells them at a profit never having to spend much of their own money because the renter pays for everything.

>>345717
Mortgage is an example of good debt.

It usually has a very low interest rate and you can borrow against it if you find a more lucrative place for your money that year.

Not to mention payments to your mortgage lower your income for the year thereby also reducing how much you'd pay in tax for the year.

I didn't get into debt, but I was hearing all the hype about gold going to 2000 or 2500 dollars and decided to get some before it became unaffordable (2 ounces, one at 1600 and one at 1700)

>>345720
>hey anon, what are you doing in that rusty van in the parking lot?

>>345714
nice 1 neet xdd

>>345716
>If you aren't stupid, it's not hard to budget for things like this. Instead of buying the latest iPhone, you use the money to fix your house up.

Of do neither and just save all your money.

>I'll own a x hundred thousand dollar asset

Yea, but you will have put twice as much into it in the expenses stated above. But whatever. You bit it. Not your fault. Super temping and culture is pretty much brainwashed to believe it's a necessity.

>>345735
but doesn't money devalue over time?

after reading /biz/ for some time, I've concluded there is no zero-risk and maintenance-free store of value

>>345735
>Yea, but you will have put twice as much into it in the expenses stated above.
If you honestly think the expenses on a house will equal its value, you're insane.

You'll spend some money on expenses, but no where close to what you're thinking. And like I said, it's not hard to plan for if you're not an idiot and work somewhere other than McDonalds.

Not to mention that the housing market typically increases with relation to inflation, which means LT the house will be worth more.

Have fun paying someone else's mortgage off for the next 60 years of your life. I'll be done with mine in 15-30.

>>345741
>making financial decisions based on /biz/ advice

>but doesn't money devalue over time?

Yea, but who knows when and over how long? Are you going to wrap yourself up into hundreds of thousands of mortgage debt in case the dollar becomes worthless in the next 5-10 years? I certainly am not. Maybe once I'm making more money, it won't be such a bad idea.

>>345741
Money doesn't devalue to the point where it really becomes significant.

And if it does it means that whatever country you're in is in so much shit that you'd likely have other things to worry about.

>>345735

You dumbass.

No one is telling anyone they should buy a house with $2000 monthly mortgage.

I just did calculations with 4.17% on a 30 year for a $100,000 house and the monthly payment is $487 dollars.

$500 month rent is not bad. Hell if you are a frugal McScrooge you can rent a room to some hipster for $100-$200.

In 30 fucking years you won't have to pay mortgage ever again. If you didn't like the house and had more money to spend you could rent it out to more hipsters or sell it at a profit.

I mean if you want to pay for someone elses mortgage for the rest of your life so they don't have to pay, then go right ahead because in reality you are paying the debt of others.

>>345752
>LT the house will be worth more.
>Have fun paying someone else's mortgage off for the next 60 years of your life. I'll be done with mine in 15-30.

Or it could all collapse when the boomers retire and a huge supply of houses hit the market. You could be stuck with a home way under water. I'd pay it off in 5-7 years just in case, and so you're not blowing it all on interest. But that's just me. You might have bought way too big of a house to do that.

>>345756
>$487

+$250 utilities + $200 taxes (monthly average) + $300/month repairs/maintanance (conservative estimate)

Total can easily be $1,000 to $1,500/month for the next 30 years.

>will have 100k total student debt at end of master's program
>going to do PhD for 4-6 years
>leaving 'merica once complete

have fun with my debt, obama!

>>345756
>in reality you are paying the debt of others.

$500/month hardly covers their property taxes in a lot of places, let alone the principal on their mortgage. I'll be laughing all the way to the bank while your trying to fix your toilet because you can't afford a plumber.

>>345753

Your lack of economics is hilarious.

Look if you were smart and got a FIXED mortgage the rates don't go up even with inflation. So if the FED was just printing money out its ass and everyone was carrying around wheel barrels of money around to pay for bread, your debt on your house would be just the same and if fact you'd have plenty of money to pay off the debt because of inflation.

The people who would be suffering would be those who rent because landlord's want to have a profit and they can simply raise their rent prices to line their wallets regardless of what their mortgage is.

So enjoy being a renter with a $5000 rent bill while home owners are still paying the same fixed mortgage they signed up for.

*Now if deflation happens then home owners will get shit on, but that means the dollar will be worth a lot instead of your example of being worthless. That said the Fed can resolve that problem by printing more money.

So no. Wortheless dollars are great for home owners who got a fixed mortgage.

>tfw father (who is a Ph.D. and MBA, taught Finance to grad students) tells me that credit in the US is a scam invented by jews to take advantage of gentiles

>tfw I am in debt

>tfw I am jew fodder

>>345769
Have fun paying for your $300,000 ($1,000,000+ with interest, taxes, and maintenance expenses) casket the rest of your life.

>>345765

Are you seriously retarded and believe that landlord rent out properties out of the kindness of their hearts.

When you rent you are paying for that plumber and taxes in your rent.

They aren't giving it to you for free.

>>345779

Seriously do you even pay attention to your rental agreements.

When your lease is up and taxes have gone up the landlord raises his prices and tells you to get the fuck out if you can't afford to pay.

So you either pay someone else so they can own the property in 30 years or you do it yourself.

Either way its saps like you than rent properties and pay off smart people's mortgages. Enjoy renting off a fixed income when you retire. Shame you don't have a property paid for.

>>345779
All my landlords are my roommates too. They're not some rich fucks renting out dozens of houses. This is how most rooms (on CL) are. And I've looked up their taxes online. They'll pay like $6,000+/year. So no, my rent doesn't cover shit of their expenses, let alone plumbers and shit.

And I could care why they are renting it. I'm saving a shit load. Something most homeowners can never do.

>>345789
You think this is a fucking movie? They raise their rent, there's 100 other places I can move that's cheaper. Also, no one will pay a higher price. You are blinded though.

I have $20 in credit card debt.

Time to end it.

>>345772
>Not having a house to pass onto your children

For shame, anon.

>>345792

And? In 30 years they will stop paying their mortgage and you'll keep paying rent. Maybe they'll sell their house at a 50% markup and pocket the money. Do you think they'll give any of that money to you?

Either way sounds like your landlord is an exception. Most rental properties are owned by people who don't cohabitate. If your friend wasn't kind enough to let you live their then you would have to participate with someone who wants a profit for their services.

Like I said I have relatives that rent properties for a business. They do it to make a profit. Not to be nice.

On a side note, two of those houses are paid for so the rent is pure profit.

>>345794
>They raise their rent, there's 100 other places I can move that's cheaper
> Also, no one will pay a higher price

Hot damn that's a lot of assumptions!

When you're older you'll realize that not even having to think about having to move to a new place is worth the luxury of owning a house.

Renting is fine for when you're 20-30 with no dependents.

>>345799
>having kids
>posting here

>>345802
Nobody's being nice here. Look on Craigslist for rooms. Everywhere has a shit load of landlords that are also roommates that need the fucking money because they were dumb enough to take the bait.

At this rate I could pay cash for a home in 5 years if I want, no mortgage. And a nice place too.

And yea, maybe they will make a profit. Or maybe the housing market will collapse again. Maybe the mark up you talk about doesn't include all the other shit expenses (taxes, interest, maintanance) and you're only counting equity (principal paid off). Who the fuck knows?

I know that I can move anywhere I want and not have to worry about some shit mortgage dragging me down.

>>345717
30 years?? Christ, we paid off our mortgage in less than 10. I can't imagine being tied down to a place for that long.

>>345794

What part of capitalism don't you understand. If taxes go up it goes up for all home owners. So everyone will raise their rent even the shit holes. If they couldn't make a profit renting the house then the most logical thing would be to sell the damn property if it costs you more money to hold on to it.

Also renters cannot escape inflation. Besides the fixed rent of shitty inner cities, most free market places raise their rent when inflation happens. Sure you can find a somewhat cheaper place but it will be further down the ladder of shit holes.

Its hilarious that you think you can escape tax increases and inflation as a renter.

If a landlord cannot afford to rent you his house, he will either raise rent or sell the house.

Money doesn't magically come out of no where. Most landlords are doing this for profit. If they aren't profitable the market will kick them out of the market soon when they run out of money to pay for their bills and someone who will raise rent will take their place.

>>345814
>Not trying to make money to pass it on to your offspring, giving them the advantages you never had

You can't take it with you, anon.

>>345819
>caring about shit when you're long dead

>>345821
>Implying money keeps you warm at night
>implying money loves you

Sad existance, anon.

Oh you know what is awesome about mortgages?

My parents have paid off two mortgages on two different houses.

One of them is going to go to me before long and the other will most likely go to me after they pass away.

There is a third house they rent, but we've all agreed we are going to sell that one at a profit before too long.

I can't live in them both so I suppose I'll either sell it or rent it. Either way I don't have to pay rent.

Can you say the same?

>>345825

It's not like I will leave billions behind or some shit. Even if I leave 1 mil in the end, who cares? It's better to save and not have to worry about money your whole life than living paycheck to paycheck paying off a 30 year old debt.

>>345825
Also, is someone supposed to die with $0.00 to their name if they don't have brats (kids).

>>345830
Why bother though? If you don't have a family what's the difference between leaving 1 billion and 20 cents?

>>345814
> Everywhere has a shit load of landlords that are also roommates that need the fucking money because they were dumb enough to take the bait.
You can't condemn mortgages because some people took out ones that they couldn't handle.

>At this rate I could pay cash for a home in 5 years if I want, no mortgage. And a nice place too.
You're still wasting money on five years of renting. Literally, once the month is done, you have nothing to for the rent money you spent.

>And yea, maybe they will make a profit. Or maybe the housing market will collapse again.
Save a few down years, the housing market has almost always increased. Is there a chance it could go downhill? Sure, but it will rebound. Think of it like a rollercoaster that just keep going up, with a few drops here and there.

With renting, there is no possibility of a profit. You are literally giving your money away for an asset that has a 30-day life (a month's access to the apartment).

>Maybe the mark up you talk about doesn't include all the other shit expenses (taxes, interest, maintanance) and you're only counting equity (principal paid off).
Property taxes are only a small dent in things.
Mortgage interest is deductible.
Maintenance is only a small dent in things.

>>345829
You mean what's awesome about inheriting shit?

>>345837
peace of mind

I owe $20K for student loans.

No credit cards, house, or etc.

I just have to wait for my pareents to die and I get a house for free.

>>345840
But anon if you don't have a family who will pay for your rent when you're on a fixed income?

>>345837
That's not his point.

It's always nice to have a large sum of money to fall back on in case something goes to shit.

Let's say you a get cancer and for whatever reason your HMO drops you.

If you got no money saved up you're shit outta luck.

>>345830

Fine. Whatever.

I should be thankful there are people like you who don't understand home ownership so my family can keep renting out properties so I can live rent/mortgage free for the rest of my life.

>>345838
>You're still wasting money on five years of renting. Literally, once the month is done, you have nothing to for the rent money you spent.

Or the opposite is true. You waste tens or hundreds of thousand in interest, taxes, & maintenance.

>>345821
Money only should be valued with how much happiness it brings to your life.

It can bring you a nice house, a nice car, good food, entertainment, and a family.

It's not a game where you have to pinch every penny living in a room in a basement eating white rice every night just so you can say 'haha, I gots da most...u jelly?'

>>345285
>>345285

Have paid back more than 15.000 dollars from stupid loans. But I am out of that now and have a job which pays allright, so it's all good

>>345844
this. Can't sell your home for your 5000% profit when you need money TODAY for some shit.

>>345843
>retiring
>ever

Do you know how boring that shit is? Seriously. Imagine doing nothing all day but browsing here.

>>345854
So... You're going to work when you hit 70, 80, etc?

>>345848
hard to be happy when you're worrying about paying off shit the next 30 years.

>reproducing

That a bigger mistake. That's a mortgage that never ends.

>>345848

Yeah.

Some nights you can have the brown rice instead.

>>345857
I don't see why not. As long as I'm here. I like my job.

>>345847
You seem to be missing the point.

All those things are expenses for an asset that I'll eventually own.

Let's say an average month of mortgage + related house expenses costs $1200 ($800 + $400 in taxes/maintenance) a month. Okay, but at-least I'm paying towards a $250,000 asset (house) that I'm eventually going to own. All maintenance expenses are ones that are improving my asset.

Versus $800 for an average one bedroom apartment in a good neighborhood. At the end of each month, I literally just paid $800 for nothing.

Over 30 years, I paid $432,000 (not including any deductions), but wind up with a house that's probably worth close to $300,000 at this point. That's a loss of $132,000, but now I don't have to pay anything to live there besides taxes/maintenance.

You paid $288,000 over those same 30 years, and come up with nothing besides a few thank you letters from landlords for paying off their houses.

>>345864
Much easier to say when you're 20 or 30 years old, and not actually 70 or 80.

>>345866
Or I pay $500/month, save cash, and buy a small $100,000 home for $60,000 cash.

Or I get a job offer across the world for double what I'm making in 5 years and move there, everything paid for. Meanwhile, Jamal and his family move next door to you after a hurricane took out there ghetto and the gov't gives them a 0% loan. And your house value goes to shit lol.

Or you get a loud dog/party animals move across the street and you're stuck there.

>>345874
thanks gramps

>>345876
>Implying that you could get a $100,000 house for $60,000. Sorry, no one is selling property at a 40% discount, even if you're paying cash.

Try closer to $80,000 if you are paying cash.

Implying you make a decent amount of money, it would probably take a good seven or eight years to save that much. I'll give you seven.

Seven years x $500/mo in rent = $42,000 spent on nothing.

Congrats, you just spent $122,000 on an $100,000 house and will still need to spend money on maintenance once you move in.

>Or I get a job offer across the world for double what I'm making in 5 years and move there
Or you couldn't. You can live your life based on hypotheticals.

>Or you get a loud dog/party animals move across the street and you're stuck there.
Usually the HOA has rules against that type of stuff.

>>345883

>homeowner's assocations
You do realize that those groups make horrid rules and pretend like they actually have legal authority.

>mfw all my college has been charged to my father's credit card
>mfw I'll never use credit for anything other than gas
>mfw my father has enough in cash to pay for the remainder of my Bachelor's
>mfw I'll never buy a house until I have at least 25% of the value saved, or something close

>>345949
>YFW
Powers

Associations provide services, regulate activities, levy assessments, and may, as delegated by the states legislature, impose fines. Unlike a municipal government, they are not subject to the constitutional constraints that public government must abide by.[10] A homeowners' association can enforce its actions through the threat and levying of fines, and private legal action under civil law.

>They have no authority until they fine you to death

>>345961

And this is often done because they don't like you, not because you did anything wrong.

It's like being in the military: you can get fucked in the ass over the most pointless of regulations.

>>345964
>Implying they can fine you if you don't actually break any of their rules
>Implying if you have even a little social grace it will ever be a problem

plz

>debt is always bad
Stop

>>345971

Don't most businesses have to lose money before they can start bringing money in?

>>345969

If that's what you want, man, I'll just buy a home where there isn't a home owner's association.

>>345974
>Not wanting a cheap way to recourse people who are dickheads and devalue the neighbourhood while also not wasting the law's resources/time

Are you some kind of faggot?

>>345979

I'd rather be left alone by my neighbors, and I'd rather leave them alone. The USA is kind of about live and let live, you know?

Also
>wasting the law's resources/time

If someone has committed a crime against me, the law's resources/time cannot be wasted. The Homeowners' Assocation can't really help me if some asshole shoots my dog or attacks me.

>>345988
HOA doesn't give a shit what you do inside your house (for the most part). It's shit like parties that keep you up at 3 am, and dogs that bark all day. You could file a noise complaint with the police until it's significant enough for shit to get done (Wasting a bunch of their time, and yours) or the HOA can fine them.

Obviously if it's a major crime you call the police, that's a poor strawman.

I've got like 8 mortgages on my personal name, one for my house and the other 7 for rental properties, which throw off enough cash to pay most of my expenses.

And I have a zero percent car loan.

And I use my credit card for most purchases.

Using debt responsibly can make someone very wealthy, especially mortgage debt.

>>346148
I always wondered how this works. Do you show the income you make from your other property to be able to open a new mortgage for another? With 8 properties wouldn't you have to show a fairly substantial income to get a new loan?

>>346166
I have not had trouble at all getting any of my mortgages, but I'm not super-sure if my income property helped getting these mortgages.

Then again, I've been working for many years and my income is pretty high. I'm sure that helped too.

>>346148
How much does it cost to have a company manage those rentals? Surely you can't do them all as one person who's also working, right?

>>345285
bout 90K in the whole due to college. feels bad man. plan is to live at home and pay it off ASAP. once you realize how fucked up our country is, who controls it, and by what means they do so, being heavily in debt is a very scary feeling.

However, being retarded at age 18 when I decided to go to college I didn't think that way.

>>346201
in the hole*

>>346201
>once you realize how fucked up our country is, who controls it, and by what means they do so, being heavily in debt is a very scary feeling.
what the fuck are you talking about beef brain?

>>345716
> renting is for suckers, you're giving landlords money

Eh, I'm kind of on the fence about this whole ideology. I'm single, I intent to stay single, or at the very most short-term relationships, and I live in a big city.

In that case, I see little incentive to buy a house instead of just renting a 1br/1ba apartment that is pretty nice. I pay $900/mo, it's a nice place, and it's in a pretty good location.

I mean go on, sell me on why I should stop paying a guy rent and instead buy a house. It just seems like pleb thought that "you're giving a guy almost $12k/year and you don't own it at the end of the year".

Maybe it's just me. I mean so what? So let us say that I do that for what? From age 25 to 35, then I'll have spent $120k total, I'll have had nothing to show? But I have the freedom to move wherever easily and quickly if I only do 6-month or 1-year terms, I don't have to wait to sell a house.

And then you have all of the other payments associated after you've 'bought' the house; and that's even IF you buy it. I don't consider taking out 30 year loans a good fucking idea unless you've found some 10 supermodel who thinks your dick is the meaning of her life and wants to be inseminated by you every 9 months to create an army.

If you're looking to do the family thing, I get it. But in that case, a woman is going to want to buy a house with you, not move into one you already have (hint hint: so it'll be easier to take the house when she tells the judge "we picked it out, we were together when we got it!").

Sincerely,
A level 2 MGTOW.

>>346207
our country is a fucked up place brah.. essentially the entire point of this thread. falling into the scam that is taking out loans for a 4 year college

>>345491
the deal for my (scottish) student loans was they take 9% of what you earn over £15,000. this is different from what is offered these days. if you just factor this into your deductions when you are making your persona budget, it just becomes part of the money you never see. go to uni if you want to, if you are so easily dissuaded by the thought of what is really just a higher tax rate, then you were only really going to uni because people told you to. if you wanted to go and better yourself, you would deal with the debt.

>>346208

Oh and by the way, I think probably the more ideal situation - which I'm eventually looking toward - is buying a building with at least 4 units, and just living in one of them.

I can get behind that logic, I'm just debating at the moment over financing, long-term responsibilities of being a landlord, etc. In that case though, I can always just move out of my unit and rent it to someone else if I want to move somewhere else, and have a property manager.

>>345571
i'd imagine those people who retire with £1m don't get married. if you are living in a ditch in Hajistan and your money is getting paid into a UK bank account, then your wife will be using it to get fat. There will be very little being squirrelled away.

>>346190
So, I actually manage only 2 of them now. But at my "peak" management, I had 4 under management.

Now, since my area is getting expensive, I'm selling at a profit and moving that money to buy in another state.

Generally, the cost is between 7 and 9% of gross rent. But professional management is the only way to scale this type of business up, especially when you're still working.

About 10k.

6k in student loans (already graduated) and 4k in medical debt.

>>345761
What the hell are you doing to your house that you're paying $300/month for repairs and/or maintenance? It doesn't cost much to mow a lawn, clean your bathroom, sweep your floors, and not punch holes in your walls.

>>345962
Right there with you bro, life is pretty bitchin. We fund my education through my father's company account since I work there.

Student loans, I'm not done with university, but I want to take a break for a year. If I quit to take a break for a year I have to start paying the loans.

Fuck.

>>345491

You'll make much more than that over the course of your career.
People need to stop listening to the amerifats on this board going on about how shit university is. They come out of uni with astronomically high debt and need to start paying it off immediately. For those who live in decent countries where the government loans you money, it makes sense to take advantage of it so long as you don't study something retarded like gender studies or African drum and dance.

I'm a 3rd-year college student

>tfw 5 digit (positive) net worth and growing
loans are for dum-dums I got grants

>>348140
This, if the government is offering a 0% loan why would you NOT take advantage of that?

(New Zealand)

>>345285
>all debt is bad debt

>>345306

>12k in student loans

21k here, and that's probably about to increase this coming semester.

I'm so fucked it's not even funny.

>>345669
Fuck off, I got my grade 10 last year.

>>345285

Got about 20k in student loans, but at less than 1% interest I would glady take on more of this "debt".
Got a creditcard but that's not debt, unless you do something retarded like not paying it off.

>>345669
>But let me guess, you are a 10th grade dropout, private business owner who makes a million dollars a day in profit and live in the woods, amirite?
>>>reddit

You got fucked into being a permanent beta-male slave. Don't worry. It happens to the majority of men.

>>348650
>21k in debt and you're not even out of school yet
Someone didn't think this through

>>348678

Oh believe me man, I really didn't.

>>346208
If you were to buy the cheapest house in your area, you'd pay at least $5,000 in property taxes alone per year. Even if you're able to itemize this on your tax return, you will still be paying a lot when you include mortgage payments and maintenance costs. And you'd be locked up in a 30 year mortgage.

MASTER RACE AUSTRALIAN REPORTING IN

I graduated with about $35k in debt.
During my university times, I received about $45k in welfare cheques and started earning 70k right out of uni (2009).

Our government does the student loans and they're interest free, the payments come out of your tax return and it doesnt show up on your credit scores etc.

I currently am $360k in debt for an investment property that is making a ~5% yield annually and in 6 months when the property become positively geared I'll buy another so that I can keep running up tax losses.

I've got about $15k in a ETF fund that is paying me about 9% p.a as well.

I ride a motorbike and own it straight cash.

I work a 5 hour week as a project manager at a consultancy and because I'm not actually delivering the work it is CHILL AS SHIT and I've recently enrolled into a diploma of business administration to complement my earlier science qualifications.

Fuck yeah Strayla.


This post aint all boast though, I feel sorry for my Ameribros.
I had a cool guy from CT who did the same degree as me (as an exchange student) but back in the states he couldnt get a job and had to work for min wage in shit jobs or unemployed for like 2 years.

Australia is truly life on easy mode.

Unemployment rate is below 5%, wages are high, lifestyle is relaxed, working conditions are built into law, natural beauty and all the freedoms you could ask for except gunz n fireworks :(

>>348688
Nigga you buy a house and then rent somewhere else.

Even your shit out, property is a fine asset to own.
Generally all the property costs for an investment property are deductible including interest payments (but not one you live in) so you end up on top. If you buy right the place will be a source of income more than anything.

You're still in a 30 year mortgage but you have some other guy building equity for you, the tax game is solid and you're not physically tied to the spot.
Worst case scenario and you become destitute you can always kick the tenant out and go live there.

Bonus fun fact: Buy the property though a company you partially own where the remaining shares are owned by a overseas company (ALSO REGISTERED TO YOU, BUT AINT NO DIVORCE CASE GETTING IT).

Sincerely, >>348693

>>348678
i'll never have to worry about shit like this. hallelujah free education

>>345700
why would you ever buy a new car before the age of 30?

just....all of my why

I can't believe people are arguing that they can rent a space for cheaper than it costs to maintain the place. I.e. that it's somehow cheaper to rent a house all your life than to own it.

If that were true nobody would own those houses and renters would make no profit.

Renting has its place, I'm renting. I don't have to worry about headaches the landlord will handle, and I have the option to pick up and leave if I get a new or different job.

But I pay a price for this too - my rent will almost certainly be higher than the landlord's mortgage and cost to maintain. If it's not he'd sell it.

>>348050
>It doesn't cost much to mow a lawn, clean your bathroom, sweep your floors,
yea, if your time is worthless

>>348998
you still have to do most of that stuff if you're renting.

Landlords just cover certain utilities (if any) and repairs. There's no way I'd be spending $300 a month on repairing random crap.

I racked up a lot of credit card debt (~$10k) in college because I was too lazy to work. Propaganda had nothing to do with it.

Took about a year after I graduated to pay it off. Never again!

21 y/o dual citizen

$5,000 in student loans
$4,000 credit card debt.
No degree. No skills. Haven't paid minimum payment in a while. Haven't looked into debt consolidation.

>Leaving the country within the next year
>Not coming back
>Not gonna pay a dime

>>345866
>>345883

>At the end of each month, I literally just paid $800 for nothing.
No, you paid to have a place to live. This is analogous to saying "You pay $250 on food to eat each month. At the end of each month, you literally paid $250 for nothing (because you eat the food and then it's gone)." No you fucking retard, you paid money to survive. Just like people pay money to have a place to live and not get shanked by some homeless person in their sleep. Or just like you pay interest ("nothing") just so you can "own" your house immediately.

>>345285
i never have taken credit so far in my life.
i rent or buy cheap or used stuff.
i allways look to have a very low
monthly must pay contracts.
For holiday or short fun i spend
more money becouse it is no long term
binding.

But more than once i thought about
buying a baller car or home on credit.

>>345799
As if your kids want your 40 year old shithole when you die. They'd rather just have your cash.

I don't see single-family homes as a smart investment at this time. I'd opt for a fourplex in a city (think the equivalent of Greenwich village), not inner city. Run a cost/benefit analysis and likely live in one of them. I'm not really picky about my place so long as it has all the basics (shower, kitchen, stove/oven, refrigerator, toilet) I'm only concerned with location.

I really do despise this country's suburbia.

>>345285
I have about 10k in student loans right now, at 1,35% interest. All of it is in my tradings account and has so far gained 8% in value in the 4 months I've had it.

aka if you're shit at making passive income and can't get a loan at lower than 5% intrest don't bother