/biz/ - Business & Finance

If this was my tenant i would raise his rent 20% the following month

you think its fair that paying rent doesn't positively reflect on your credit score but missing a payment will absolutely destroy it?

>>49382360
I have never paid rent and lived with my parents for 10 years.
I saved up $160k and bought a house and rented it out.
Plan on heloc and buying another house this year and renting that one out too.

>it's not about coffee

Yes it is. Every fucking day, it is.

>>49382401
Absolutely fair. Do I get rewarded when I go to pay for petrol after filling up my car?

>>49382360
>be me
>be 35 oldfag married
>no kids, zero debt, 800 credit score, 200k/year income for past 4 years
>1.6M in crypto
>wife the exact same, we paid off her student loans even
>really impeccable profiles and told this by several lenders at different points

“Sorry anon screenshots of your nano ledger don’t count, we can’t offer you a loan”

Fuck this gay earth bros

>>49382423
if you use a credit yes, yes you do.

>>49382433
My point is, paying rent is effectively paying for a service you are using. So if you miss a payment for a service you are actively using, yes you should be punished. And also i wouldnt use credit to pay for petrol because im not a poorfag. We live different realities.

>>49382360
i shouldnt have to spend 6 figs to own a home, i have enough for one from crypto but then what? i’ll rather live with my parents and have a huge war chest to travel with and enjoy my life. if i dont pass on my genes its humanity’s loss since im ubermensch. i’ll be dead anyway and its zero benefit outside of your brain manipulating you to like it, fuck u humans. if u want me to have a homestead and raise a family for ur continuation then dont make it financially ruin u.

>>49382446
there's absolutely no reason not to use your credit card for everyday purchases. You build your credit score and get cash back rewards, travel points, etc. nice reality though mongoloid.

>>49382411
good for you m8, but not everyone is geographically close to decent jobs. I'm sure OP is a onions-slurping cuck, but he does have a point, high property prices are just a huge resource sink and the last phase of the boomer ponzi.

>>49382360
>implying landlords are not 100% leeching off the economy
Adam Smith knew it

>>49382360
It doesn't have anything to do with renting before or not. It's only about having money.

>>49382425
>200k/year
>have 1.6M crypto money
Aren't you already make it? What do you want a loan for?

>>49382360
>why do I have to pay to live somewhere and reward those who put up collatoral for that place I can live in

America should be nuked. It is the worst country on the planet.

>>49382456
would u rather
>buy a home, raise a family while waging and have a leech kid that u wouldnt even like if u werent programmed to
>travel all around the world with a big war chest, have adventures every day, enjoy your youth, live in the moment and fuck local girls

>>49382360
>YOU MUST LEND ME MONEY
>>49382386
based

>>49382425
Just cash out crapto

>>49382524
this sounds attractive until u get older but i’d rather live like a wild dog than a slave

>>49382360

>A household cannot own more than 1 property
>You must live for the majority of the year in your household

Housing crisis solved overnight. Sure, there would be some loopholes that people could skirt through, but the vast vast majority of speculative investors would not be able to jump through those hoops. This will never happen though, because our governments have propped up western economies on speculative housing.

>>49382521
The house costs 500k i cant just pay that cash dude. Btw its a 3/2 single family home in the same neighborhood as my parents. They paid 200k for the house in 1999

>>49382552
No i love bitcoin and eefers

>>49382488
It's also more secure.

>>49382580
yeah lets all live like communists to solve issues in regards to capitalism.. thats always worked out well in history

>>49382691
>can still own a home and land
>this is somehow communist?

You probably think the solution is something to do with not importing foreigners or not building enough homes, right anon? Nothing to do with the fact that small and big time investors are buying up more properties than you can ever dream to visit?

Enough with the "any criticism of capitalism means you're a commie" bullshit. You don't want to fix shit, it's very clear.

>>49382734

and the premise of communism in the past has been you can still have money? The state just governs how much. How is that any different to your logic in owning just 1 land? Moron. Also, I dont see a problem in the state of affairs to think it warrants needing to be fixed. There are a set of rules and I am playing within those rules to amass as much real estate as possible so I can fuck over little whiny cunts like yourself by raising your rent.

>>49382446
>paying rent is effectively paying for a service you are using
same goes for your credit card bill, but that positively affects your credit. what's the difference?

>>49382580
Lmao, imagine being that stupid

The seething of rentoids who would suddenly have to buy a house because no one has anything to rent anymore, would be glorious

>repairing all the shit in my house is so expensive, government help me

>>49382360
>contributed

Lmao

>>49382580
You'd have to get rid of legal persons or that shit is a paper tiger. Good luck.

>>49382594
>$400k/yr income
>can't get a $500k mortgage
'no'

>>49382425
>married
>no kids
what is the point?
you just can pay for sex

>>49382425
>married

>>49382957
Literally was told on the phone by the lender.
“We don’t deal with crypto, usually people use it to hide stuff”

>>49382360
Retarded normies still doesnt know that the Jews corrupt society and each other, fucking clown cattle doesnt understand

>>49382360
Normies are going to lose their shit when energy/fuel is rationed, coffee is a luxury and home ownership is a distant memory. Why does that klaus assume they will be happy?

>>49382990
Working on it chief, had to get a house first

>>49382446
>brainlet europoor
Getting financing isnt just a poor man's game you know. I use my credit card for just about everything and earn cash back. Immediately pay it off whenever I feel like, rinse and repeat.

>>49382524
Or
>raise a family that loves and cherishes you and lays a solid foundation for the reason you live
>live a hedonistic lifestyle, meeting vapid and shallow people who could honestly care less about you until youre too old to find someone
I guess it all depends on how you color it

>>49382386
This.
If you never missed a payment it means it's easy enough for you, so I will raise the rent because you can afford it.

>>49383708
can americans really just raise the price whenever they want like this
dont you have contracts???

>>49383009
Probably because you can lose half the value of your crypto in less than a year. no different than trying to take out an SBLOC when all you hold are high risk stock.

>>49382413
Based

>>49382360
This guy was financial illiterate and failed to plan ahead and now he's big mad after realising he done wasted money. Of course, it's the capitalist pigs fault. I bet he loves Schwabs vision for 2030 because that will stick it to the people who succeeded where he failed.

>>49382360
I'd agree with the general idea. if you continually pay rent bang on time it should be used a part of credit score that other landlords and lenders can see if they know you can actually reliably pay, don't damage things etc. that'd be useful for all involved

>>49382386
You will pay 20% extra and you WILL be salty.

>>49382360
Why is owning a house a human right?

You could argue that you should be provided with the opportunity for food and shelter, but why you are entitled to own something just because you want to, I will never know.

Between my house and IP I own 1.8m in property.

>>49382360
>can't qualify for a mortgage
What is this meme? It's really easy to qualify for a mortgage. How badly do you have to fuck up where nobody will give you a mortgage?

Why do twitter and redditfags never realise that it is a part of the jewish question?

Landlording is an extremely jewish profession

70% tax on rent income and capital gains from property, all to be spent on building new houses. Would this work?

>>49382594
>>49382425
>Have 1.6 million in crypto
>Can't buy a $500k house
Lying or really really stupid. Liquidate some of your crypto you fucking idiot
>>49382446
Using credit cards for everything is the big brain move though as long as you pay it off every month. You get cash back and build your credit score.

>>49382425
go the other bank, dont mention the crypto only your combined wages
there is zero chance you are not getting a loan for a 500k house on a 400k salary
its just the seething wagie at the bank that wants to fuck you because you showed him your wealth
we werent kidding when we said never show your crypto to normies

alternatively you need to go via a private banker they already do crypto loans, but i think you are just not rich enough for it yet their request for funds stored at them will be too high for you

>>49382874
Unironically these retards likely would complain about housing repairs, how they’re literally enslaved by home ownership and all of this other melodramatic shit. These people can’t even maintain a shitty excel spreadsheet monkey job without having a hysterical woman tier mental breakdown. As soon as we get affordable home ownership, these people would be begging the federal government to nationalize all housing

>>49382456
When did your parents move you off of
breast feeding and onto regular milk ?

The opportunity is there for everyone to own property. Whether it be living with parents to save for a deposit, being frugal as fuck for 5 years or contributing to free markets to capitilize. Everyone has the same opportunity. The problem is everyone thinks theyre entitled to a 50k property because that was the price in 50's. Fucking retards its literally natural selection but for monopoly, no one cares you cant save for a deposit because you cant sacrifice a few things.

t. 4 properties and counting and started with absolute 0.

>>49382401
Yes. Its credit, that's how it works.

>>49382360
>basic human right
lol, just lol

thats not plebbit, thats reddit, jesus fucking christ 4chan is riddled with boomers

>>49384077
Nope
Funny thing, a lot of these economically uneducated 'quick fixes' have been tried in china at some point and they always fail catastrophically

>>49382360
Behead landlords.

>>49382360

If he has had stable employment for the most recent 2 years in the US he qualifies for a mortgage and should shut the fuck up. Damn near anyone can get an FHA loan.

>>49382425
>married
>no kids
>we paid off her loans

obvious troll, no one can be that much a sissy cuck with femdom fetishes

>bawww why don't I get a free house

the absolute state of rentcucks

>>49384486
t. owns a pathetic 1 floor house in a village

>>49384465
The bank probably saw that he spent all his excess income on funko pops

I just move in and pay the first two months up front in cash, then proceed to not pay. I'm decent enough at locksmithing so I change the locks and hole up. Ive overstayed 4-6 months almost everywhere. In Canada the landlord cant kick you out if you have nowhere to go, they have to take it to court which takes them forever. Day after I receive court papers to vacate I leave (dont clean or do shit) and then find another place. Rinse. Repeat.

But the 2008 crash was caused by giving mortgages to people who obviously couldnt afford them and would end up defaulting.

Why is it now the opposite, are mortgages that hard to get in america? Or is this guy just financially retarded.

>>49383006
being married is pretty good when you're both Male,
Blokes on Blokes on Blokes

>>49384503
He is financially retarded. You just need to show the lender that you have good credit and bank statements showing that you don't waste all your income on stupid shit.

>>49384537
It really comes down to this, I work as a mortgage adviser and we typically ask for 6 months worth of statements. The sheer amount of non-essentials these people buy will blow your mind.

>>49382360

There's nothing wrong with renting or buying a home. It all depends on the circumstances of the individual and what they want out of life.

Buying a house seems like a scam in 22. Looked around an 80 mile radius from where I'm renting an apartment for 900/month and every house is some combination of
>Roof or basement issues
>Water damage
>Black neighborhood
>Dirty and neglected inside
>Outdated features
Or if it's a new build, it's
>750,000 designer home
>Weird floor plan that is clearly a proto-pod for someone who doesn't mind a studio and will never have company or kids?
I've seen a few like this where it's a one storey house but just a long hallway with a bathroom and bedroom at the end, in a neighborhood like this. Weird.
>House is only there for old people
>Shitty 300k townhouse surrounded by an ocean of shitty townhouses rented by bl*cks who disrespect the environment because it's free for them (?)

And for the privilege of picking one of these fine accommodations I get to
>Dump at minimum 20k of my savings into the process
>Use up my VA loan or take an FHA at retarded fucking rates
>Start fixing whatever problems the bitch ass house has while likely learning to block out stupid ass neighbors
>All while spending at minimum DOUBLE my rent on mortgage
I'm good, it seems like the market is closed and it's only there for the stupid or desperate

>>49384626

^ This. And don't forget, now you get to spend your weekends cutting the lawn, weeding the gardens, cleaning the inside and outside of the house and fixing shit. All things that are getting more expensive.

>>49382757
>There are a set of rules and I am playing within those rules
Do you think these rules came from god?
These are human rules and humans change the rules when they no longer serve their purpose. Or when parasites learn to exploit the system to the detriment of the host they leech off.
Tick tock.

>>49382757
Thats your problem, you don't give a fuk about anyone but your self

I don't believe housing should be used a speculative investment

You have your primary residence, that you live in

Any property +7 years old that is not your primary resident you pay additional tax on
Not primary residence and has a mortgage you pay an additional tax on on it
Property has been vacant for 3 months or x amount of the year, additional tax on it

Property is owned by someone who is not a citizen, additional tax on it

Want to avoid all these additional taxes? You can buy an investment property thats brand new or not in a high density area

After 7 years you can sell it off and repeat with a new property

>>49382401
>you think its fair that paying rent doesn't positively reflect on your credit score but missing a payment will absolutely destroy it?
That is a good point, paying rent consistently in an ideal world would contribute to your credit rating.

>>49382425
at that point what do you need a loan for

>>49384381
winner

>>49382360
“Basic Human Right”. That’s where your wrong, kiddo. There are no basic human rights except the chance to fight for what you want and can take.

>>49382401
pay your rent with a credit card and work of the credit
profit

>>49382524
You keep saying these words "war chest" what the fuck do you mean by that

>>49383009
Have you tried liquidating your “1.6m” into cash? You are so fucking retarded

>>49382360
How can he not qualify for a mortgage? I was a college dropout with no credit history and I still got one by living with my parents and saving. Is he just absolutely flat broke?

>>49382386
>replying to your own thread first to give the "based" opinion
>on jewing a white guy
okay Raneesh I call a group on your mother now (she will die on her sleep tonight because you are retarded)

>>49385208
Holy shit this is delusional lmao. Fucking beta tier wish fulfillment.

>>49382425
similar situation it's ridiculous, a couple months back I tried to use my $1.15mil in luna as collateral and they wouldn't accept it WTF

>>49386009
Bc its a faggot larp

>>49382425
Lol it's a bank. They don't accept assets they can't hold. Not their keys not their crypto.

You can fix that by having it put through a startup capital fund that just reports it as their holdings on your behalf. They'll make a statement (Of course not actually holding your crypto, might ask for a fee though) and when you submit it to the bank, it'll look like ACME Capital Holdings Account: 1.6m Net Assets or some shit. Sure they might want to see how volatile those assets are before giving you a loan, but in today's market it'll be hard to prove it's any less volatile than tech stocks. And for those saying why get a loan, if you have 1.6m and don't want to cash out all at once realizing tax penalty. You can slowly cash out under 7k a month for payments while still getting a substantially large amount of usable credit at the start. It helps with structuring.

>>49382360
as someone who owns many rental buildings
this is fucked up
but shouldn't be blaned on landlords
this is clearly a problem stemming from banks

>>49384626
this is my experience too.

>>49382524
>T. Never had kids, never had a gf, never had a warchest, never fucked a local girl
Into the garbage it goes

>>49382360
>rights
kek https://www.youtube.com/watch?v=m9-R8T1SuG4

>>49382360
>a basic human right
these faggots don't understand reality at all

there are no "rights" in nature

i like how all these hippies think is the world or the government or corporations out to get them when in reality it's just some analysts behind computers determining the accept/reject criteria for mortgages lmao. god damn, they are so dumb.

>>49382360
> How do people like this exist?
Generally these people are the types who move to cities to get multiple meme degrees with gorillion $ debt, they think this will make them social elite but when faced with reality, they realise that they are mere beggars dressed in king's cloth, from this point it's inevitable for them to develop feelings of self loathing because they know that they are loosers, and thus they now want society (government) to solve their problems, overtime they become bitter and irrational. You have to realise that these people have never had an original idea in their life, have no practical understandings of anything, they want everything served in a platter to them.

>>49388240
Technology has made billions of people obsolete and worthless at lightning speed. And even if you're smart enough to get those good jobs, it doesn't matter anyway because the boss's son and his friends will just get all of the jobs even if they aren't as qualified as you are.

>>49383708
Oh no my water heater broke again right before ei went on vacation. Help daddy landlord

Why doesn't the US do a system where each home you own after your first has a significantly high yearly tax on it? Wouldn't this force landlords to seek to sell the asset that is draining them, or be forced to rent out units that are mostly sitting empty? Tell me why I'm wrong.

4chan has become a boomeresque website where the excesses of jews are celebrated as long as it 'owns the redditors'.

>>49383643
>Family loves and cherished you
That’s if you choose right and don’t end up with a Downie kid.

>>49384381
No this isn't true anymore. It's not natural selection at all anymore. We need to make a list of all multiproperty owners. Start with foreign owned. Then move on to economically damaging the businesses of those that collect property with bounties paid to homeless.

>>49388097
>T.never had loving family and kids, nor a gf or friends
Don’t kid yourself.

>>49382488
Checked and creditpilled. Midwits who can't understand this concept will reeee and screech autistically while floundering upstream instead of making finances work FOR them

>>49384465
That's not true anymore. My race matters more than my income or credit score I was told.

>>49388454
Aight whatever you say Dave Ramsey, make sure you have all the money for the house/car.

>>49388430
This. Faggots here will cripple themselves just cause they schill for a boomer meme.

>>49388292
> Technology has made billions of people obsolete and worthless
True, people need to come up with a new religion that can include and reconcile the scientific and technological advancements soon or else civilisation will collapse and humanity will git extinct.

The most important step we need to take right now is to accept the bankruptcy of the old liberal values and beliefs in irrational dogmas like Equality.

> boss's son and his friends will just get all of the jobs
This is exaggeration.

I am from humble background, I went to a state university (in state), I managed to get a dignified job within 2 years of graduation (Engineering), I had to work as an associate trainee for a year, so not including that, Never had a house problem, because I simply got a job where I lived, you have to become pragmatic in your expectations and decisions.

>>49384760
As much as I agree with you, it's never going to happen, so it's not even really worth talking about. In the extremely unlikely event such laws even passed, they would likely be struck down by the conservative supreme court. And you can get around domestic ownership rules with LLCs or corporations.

>>49388532
>t. Lives in a place where pajeets have no access
Fuck off nerd.

>>49382425
>married
>no kids
>we paid off her student loans
You're already a cuckold, you just don't realize it. The lenders are keeping her from leaving you and taking the house. Be grateful.

>>49388409
The american system is designed to take money from millennials/zoomers and give it to boomers, your system would take money from boomers.

>>49382488
Wow 2% cash back big whoop. You know how easy it is to spend 2% less on your coffee a year? Just spend 7 days not drinking coffee. Literally just consume 2% less it's the same shit.

>>49388409
There are tax credits for your primary residencies in places.

>>49382425
Margin loan

its a bit despair inducing seeing houses I want to buy for like 250k be listed at like 170k in 2019 in their price history

>>49382360
Just don't rent you fucktards. Live with your parents. You don't have a RIGHT to live in somebody else's property.

>>49383009
boomers can't croak soon enough

>>49382425
Your larp doesn't even make sense. Try to think a minimum before posting bullshit who doesn't add up.

>>49382360
it's actually a valid proposal for making it a condition to apply for credit, nigger

BITCOINU BSC IS LIVE, BIG CALLS INCOMING, LETS GO TARDS!

tg bitcoinubsc
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>>49388467
no you weren't

>>49388562
Literally all they have to do is raise rates sufficiently such that bonds yield more than rental income. Landlords really aren't the problem, they are a symptom of cheap money. Nobody bitched about them when bond yields were greater than rental yields, because smart money would earn a return on their capital with less work. The problem, as I see, is that people who had collateral could get cheap loans, bid on anything, and pass the cost onto the tenant. Every 90 IQ fuckwit viewed this a free money printer, and housing prices have been on a parabolic trajectory ever since. There is no housing shortage, homes really aren't worth more in relative terms, there's just a massive misallocation of resources based on monetary policy. As soon as these numbers flip, housing will death spiral like Luna did.

>>49382456
Let's be real. If your an ubermensch, you ain't on this website.