/biz/ - Business & Finance

BOOOOM!!!

Capitalism is le good

>>49754030
I hate these kikes so much

>>49754030
Ten times worse than the stripper scene in The Big Short. I bought a house in 2018 and this shit is terrifying

>>49754030
Nice, he has plenty of hotel rooms for the government to force refugees into. All on his dime.

all of them are ugly and bald and old

>>49754030
>living the big life at hotel bars
yikes

>>49754076
I lived a much too traumatic life to care about hotel bars again

>>49754159
Imagine paying that much for alcohol when you could make brewing some homemade mead with some honey, raisins and yeast.

>>49754140
You’re going to be ugly, bald and old one day too, anon. So make sure you don’t aff being poor to that mix

600 MILLION DOLLARS WORTH OF REAL ESTATE FOR THESE CHADS WINNERS KEEP WINNING

>>49754030
That nigger is going to get liquidated and will probably start posting sob story shit on Twitter

This is their mountaintop.
Sitting at a hotel bar with a bunch of other dudes and measuring dicks.
There's a small part of me that is a little satisfied that nobody is happy.

>>49754284
During covid some super workaholic president of company did a video conference and inside of his house looked empty and shitty. It is satsifying that I probably have more fun on weekend than these soulless dollar chasers.

What's the downside of borrowing money for hundreds of Rental properties?

>>49754728
I don’t know, why don’t you ask the stripper in The Big Short who had 5 highly leveragrd rental properties

>>49754030
these guys act like its their properties but in reality all the money is pretty much loaned to them by banks and shit that bought those properties

>>49754129
why would it be terrifying if you have a house?

>>49754728

you have to constantly count your new money

>>49754878
Because I don't like the fact that it will probably halve in value in the next few years

>>49754826
That’s bullcrap, no way a bank would just give millions of dollars in loans. Banks are super risk adverse when giving loans these days, you’d need like 3x collateral for a bank to even consider giving you a loan.

These guys are probably just Jews that get interest free loans from their local synagogues or inherited the wealth.

>>49754126
Every time you pay rent, it goes to one of these over-leveraged söybois.

kill them all

It's only this easy if you're part of the tribe. If you're a goyim, you ain't getting shit.

>>49754938
it will probably halve in value in the next few years
Why does that matter? You shouldn't be worried about selling what should be a generational home in the first place.

>>49754284
My cousin is the happiest dude I know
Went to a top university and met his wife there. Married a few years later. Got a comfy job at Amazon AWS. Wife got a comfy job at a nonprofit

Always wanted to be a dad. Got a daughter. Then a son. Dude loves nothing more than spending time with his kids

Group calls the entire family every weekend. Always makes sure to get the kids on the call so they know the family. If any family is visiting his country, he’ll fly out with his wife and kids and hang out with them.

Never seen anyone so happy and blissful in my life.

>>49754938
If you’re living in it, who cares about the value.

>>49755336
>>49755398
I want the value to grow so I can downgrade to a smaller house later on and use the rest to fund my early retirement. A lot of people are in the same boat

>>49755366
Reading this made me feel happy and sad at the same time

>>49754030
this is a big short parody isn't it

>>49755045
Look at this retard not understanding collateralized loans.

They give niggers loans for cars anon, yngmi

>>49755498
>I want the value to grow so I can downgrade to a smaller house later on and use the rest to fund my early retirement.
So fuck your kids and grandkids? You share the same mentality as boomers.

>>49755952
>car loans and mortgages have a big difference from each other
every retard who works can get a car loan, especially if they're black.

>>49754878
When he renews his mortgage, he might be underwater (house worth less than mortgage). If you can’t refinance here the mortgage holder can take your house

>>49756237
>Inherit $2M house
or
>Inherit $1M house + $1M dividend stock portfolio

Big deal, you salty fuck

>>49754878
If your income or regulation changes you could find yourself being told you're too poor to have a fixed rate mortgage so you switch onto the SVR of the bank, often the worst rate. Look up "mortgage prisoners" in the UK

You could find out your mortgage was actually denominated in Swiss francs then the Swiss franc is unpegged from the euro and suddenly your mortgage is 5-6x as much to pay back. See Poland mortgage crisis

>>49756321
Neg eq is a very small issue these days affecting a handful of ~retards~ people who were sold 100-105% mortgage products without realising the implications of that

You can own real estate too. Just go buy any REIT on the stock market. The way to own actual properties outright of course requires tons of starting capital and good bank connections. You can't just walk up to the bank and expect them to hand over 5 Million dollars so you can get started in real estate investing. That's not how it works.

>>49754131
>All on his dime.
Imagine thinking he isn't getting kickbacks for housing fugees
Probably isn't paying for or risking anything at this point

>>49756756
>Imagine thinking he isn't getting kickbacks for housing fugees
Crumbs in comparison to what's lost to repairs (take a look what happens to places forced to house them, they don't take care of anything) and potential paying customers. I wish I could find that video where soldiers were forcing one owner at gunpoint to let a bunch stay there.

>>49754030
>ctrl+f
>"jealous"
>0 results
/biz/ absolutely SEETHING. Instead of crying in this thread why don't you just get rich? If these idiots can do it so can you.

>>49754938
That just means you pay less in taxes.
>t. 2018 buyer
Mine went from 130k to 219k and taxed at 170k. Paying $1100 a month. Fuck taxes. Fuck kikes.

>>49754030
The banks own the houses, not him

The sad thing is that I don't think these retards are LARPing. I know tons of people who recently bought two or three rental houses and just AirBNB them out. They're all heavily overleveraged. Most would probably be completely ruined if they went three months with vacant houses right now.

The company I work for has an old boomer lady that owns at least 50 residential houses. She owns every house near the downtown park area. Her and her husband were very rich and bought all of it in 70s-80s and now the total value on all of her property is probably close to 75 million

I'm all for capitalism, but there should have been limits put on home ownership. It should have been illegal for Corporations, banks, and the FED to own any residential properties. So many boomers own 10+ houses and every 40 year old shithead owns at least one rental property. I don't know how you would limit it in a fair way that isn't commienigger tier, but just owning rental properties should be illegal

>>49754126
Seethe more commie

>>49754030
Haha this guy is based

>>49755197
Kill all communists

This is the saddest thing I’ve ever watched. Imagine being a 5 foot six Manlet and having to stoop as low as to brag to 11 year olds on tik tok

This will not end well. HELOC leveraging will blow up

>>49757904

Yeah owning all the rental properties is basically pulling up the ladder behind you on the social mobility climb.

>>49754030
He doesn’t “own” the houses. As soon as priced dip and people move out, he’s going to be shot out of luck and bankrupt.

>>49754030
Let me get this straight. These guys get one House, then use that as leverage to get a mortgage on another... and so on... and so on... until they have 4000 houses. Is it really that easy?

>>49758154

>Is it really that easy?

Yeah but the level of risk is astronomical and can only sort of work in a red hot market. That's why everyone is calling this a top signal because once you can't pay one loan or dump a property at a gain all those loans stacked on each other collapse like dominoes.

>>49758154
Yes. It's like how I used 60k in student PLUS loans to invest in crypto so I can pay off my $250k student loans in 10 years...

>>49758154
That's what alot of people do, but I did see this video on instagram and the comments said these retards are not the owners. They just bought into some kind of corporate partnership, where they have 5% equity in it and the corporations own it all. It's some kind of corporate REIT.

>>49758154

Yes in banking at least at bofa, it’s internally referred to as a “rolling HELOC”. With one leveraged property or 4300, one break in the chain fucks itself.

Here’s how this nigger shit works

Landnigger buys house all cash - or owns his personal home 100%

LN takes out 120% HELOC on that property

LN Buys another house on that home equity line of credit.

Take out another 120%heloc

Rinse repeat you fucking sheep.

So essentially tenants pay the heloc while they essentially sort of kind of got a free house. But if one tenant stops paying then you can clearly see how things can go bad quick because that one prop being delinquent is going to result in others being delinquent to try to cover that cash, domino until every single property is underwater even if only one tenant went unpaying

>>49757904
Yes I agree, no person should be allowed to own more than 2 standard houses(Corps 0). If they want to do this it all should be medium to high density shit.

>>49758736
Commie

>>49758659
yup. and I know more people who got fucked doing this in 2008, than I do how had a serious case of COVID.

>>49757904
So basically you want to radically decrease the amount of available housing on the market with your misguided socialist policies?

>>49754079
Yes it is.
Problem?

>>49756321
Why would he renew his mortgage? He should have done that when rates were under 3% last year

>>49757904
Cool it with the antisemitism.

But actually, property tax should be like 50% for every additional property you own after the second one (having one rental or vacation home is reasonable). Basically stop people and firms from acoomulating more than 3 properties.

>>49754030
Why do banks do this?

>>49762201
Yes, I don't see any other solution besides violent reform that will fix this problem

>>49754076
is he sponsored by patagonia

>>49754126
in canada they are chinks. I told a chink coworker once that I rent and she asked why I don't live in one of the rental properties I own. I said, I don't own any rental properties... It's common for chinks here to own 30+ properties and everyone else is a landless wagie.

>>49762379
Nope he displays that shit on his chest for free

>>49762339
I don't get what your problem with it is. There's no cabal of landlords artificially rising prices. If you think there's too little supply you should be looking at politicians since they're the ones banning people from building houses and building them however they damn please.

>>49758224
real estate investment trusts are based if they're not run by scammers.

>>49758154
Yeah, the issue is most were only able to service the HELOC and not pay it down during a period of insanely low interest rates and lower inflation. Now with the uncertainty of the value of money and rising rates they're pretty fucked unless they can deleverage.

>>49762558
Whats a good REIT? I've looked at syndications, but they dont seem to be a good investment unless you are one of the main partners

>>49757904
Can you explain in great detail like I'm retarded what do you mean by "they're all overleveraged"?

>>49755366
The simplest things in life give the greatest joy and pleasure.

>And He said to them, “Take heed and beware of covetousness, for one’s life does not consist in the abundance of the things he possesses.”
-Luke 12:15

>>49762437
So you're telling me...a bunch of chinks come to your country. The country where you grew up and are well adjusted to, chinks come to this country and they just BTFO you when it comes to scoring good jobs and properties?
Why aren't you trying harder? From where I stand, you seem inferior to those chinks

>>49754030
Married a bug
we have 4 properties in total
Thank you mama and Baba
My wifes family fucking love me and and I dont deserve it

>>49754140
>mfw there probably my age or younger and im fatter than them

>>49757904
Land Value Taxation fixes this. Read Henry George. See The Cat

wait you guys believe this shit?

jesus christ gen z is fucking stupid

>>49762645
They don't have enough liquid assets to cover their all their debt obligations for a sustained period if their cashflow decreases due to vacancy or rising costs.

>>49754030
Holy shit, do you know how to post a link properly retard?

>>49762437
>she asked why I don't live in one of the rental properties I own
kek

>>49755270
yeah anon, it's not your fault you're a loser

>>49755045
low iq detected

>>49762805
shut the fuck up retard. nobody cares about your dying religion.

>>49758659
bofa deez nuts!

>>49757904
>there should have been limits put on home ownership
the limit is called 'NO CENTRAL BANKING'
with hard money, these low rates maneuvers become impossible

>>49762310
(((Why))) indeed.

>>49762844
Getting fake money from your corrupt.gov at home and then tax incentives from your new country of occupation helps a bit.

>tldr chinks lie + steal

>>49754401
Cope

>>49762844
Canadian government is anti-white and gives more opportunity to Asians

>>49765391
Yes, cope would be a reason to be a workaholic. I agree.

If you already bought a home I truly feel sorry for you.

>>49755336
My grandad is planning to have his house sold and the money split between his 3 kids when he dies.
It's gonna sell for probably somewhere between 1.5 and 2 million (the house itself isn't great, but the location is amazing and the size of the land is significant so the people buying it would actually be buying the land, they've even been hassling him for it because they want to develop on that land).

There's a big part of me that feels sad that this big block of land with a cozy 3 bedroom house and giant fucking yard he's spent basically his whole life in is going to get sold and then almost definitely completely bulldozed for a bunch of soul-less units or some bullshit.

I just really hope there isn't some stupid, soul destroying bullshit fighting over the inheritance when he does die. The three of them (my mom and her brother and sister) don't exactly get along great and even though my grandad has always been very clear on how he wants the inheritance split evenly I have this horrible premonition of it becoming this horrible nightmare of selfish, greedy bullshit that completely tramples his loving intentions for his kids.

>>49762844
White people are trying to enjoy the country their ancestors built for them, while living in peace with others. Chinks and poos come to dominate. Naturally the latter will win.

>>49762934
>le more taxes
Sounds like communism

>>49756321
lolwut, standard residential mortgages can't be margin called, retard, where the fuck did you get that idea

>>49754030
>the big life at hotel bars
Drinking at a hotel bar is the furthest from the big life as you can get.

t. hotel receptionist