/biz/ - Business & Finance

>>53770501
Ahahahahahahaha good. I hope there are mass suicides from Kike boomers that tried to flip these shitbox houses for 4x their value after installing dogshit Home Depot appliances in them. Disgusting subhuman Kike behavior deserving of execution.

>>53770538
fucking disgusting.
I hope this boomer nigger slaughters his family and then kills himself when he fails to sell this shitbox + the other 20 shit boxes he’s likely doing the same thing with.

>>53770501
That would go for 60,000 in black neighborhood. Real value is somewhere in between, and hard value with depreciation would be at the lower end. Luckily for asset holders, inflation is still going up... for now. It will go down once all the covid death prop settles and there becomes less people to buy assets.

>>53770566
Nice remodeled kitchen we’ve got here, you can see the goodwill electric coil gas range that he installed. Fine piece of cookery right there, it regularly sells for 39 dollars at the local crack den secondhand shop. All on top of some $.029/sq fr vinyl fake wood flooring.
I hate these kikes so fucking much.

imagine paying 400k for some bricks from 1904, also why in google maps it's considered a Pilgrim Missionary Baptist Church

>>53770567
You are fucking insane insinuating it’s anywhere “in between”
100k would be pushing it. Don’t you like doing your laundry while cooking a roast chicken? Lean processes are all the rage I hear.

>>53770593
Here’s your unfinished concrete wall shitter complete with toilet roll holder installed to the windowsill. That’ll be 399,99.99 plus tip.

>>53770580
Not bad for 47k last year, kot sure why you think it has to be a boomer considering most of them bought houses decades ago for that kind of price.

>>53770638
A prior poster showed it was bought in 2022.

>>53770638
It's a boomer
You always just know

>>53770580
the wall isn't even any different in the kitchen. is it even heat safe? will using the stove burn your house down?

does this even pass a fucking fire code inspection?? and he has tennants in it? maybe he's getting sued and it's a liability he's trying to dump

>>53770604
>please don't do cocaine in the bathroom

>>53770580
>>53770593
>>53770604
kek. Keep going.

>>53770638
It was bought for 47k, it’s fair value price, in 2022 and now some boomer scumfuck is trying to sell it for 400k after “remodeling” it with $2k worth of appliances and a day of Mexican slave labor. It’s the boomer M.O.
>>53770660
this dumb fucker has an oven right next to vinyl, it’s going to melt the shit out of that wall. At least he took the time to precariously place the power socket above the sink so you can electricity yourself to death after buying this shithole.

>>53770699
Oh by the way the address is
833 NW Jackson St, Topeka, KS 66608
I would just like to post it here so hopefully this thread pops up in the Google search result when someone googles this property along with “am I a fucking retard?” If they’re considering buying it.

>>53770674
bump

>>53770501
When you search for "Pilgrim Missionary Baptist Church" in Topeka, you get two Google photos. One of the house, and one of this creature:

>>53770771
She has a twitter too. The neighborhood is under a meth curse.
https://twitter.com/tyra92196396

>>53770771
Look at those meth teeth. I see those all the time.
t. Deputy sheriff

Can you do this but for cars also?

>>53770771
"Pilgrim Missionary Baptist Church" is actually a 95 year old corporation in Topeka; it expired last summer: "Forfeited Failed To Timely File A/R"
https://opencorporates.com/companies/us_ks/0820001

>>53770501
>what the fuck, who in their right mind would sell for such a loss

Sunk cost fallacy

>>53770832
maybe. if you can hide it, you can profit
>buy cheap
>repaint
>jack up price
>very slowly decrease it over years
>eventually some idiot snatches it
literally what car salesmen do

>>53770587
The church is actually across town. That methhead, however, definitely lived at this address lol

Here's the Jew who created this atrocity of a fire hazard


https://www.linkedin.com/in/kylewahl/

>>53770988
He's more ex-army moron than Machiavelli but the results are the same lol. Here you can see him asking for "investment advice" : https://www.biggerpockets.com/posts/user/kylewahl

>>53771044
He is however, most definitely a Jew. His relative, "Twalla Wahl," was employed at the "Jewish Care Home" in PA.

https://jhep.org/wp-content/uploads/2017/08/summer2017final.pdf

>>53771044
Kek he spent 150k he didn’t have and is bleeding money every month it sits on the market. Get fucked jew.

>>53771138
what in the shitake is flippin rehab

>>53771176
Rehabilitation. The home probably belonged to literal meth addicts who kicked holes into the walls and stole its copper wiring before they got foreclosed on. This jew bought it on fire sale for 47k, spent 100k “rehabbing it” with the shittiest material available using the shittiest Mexican quality labor he could find and is now trying to sell it for 400k

TL;DR there’s a reason these people have been kicked out of 109 countries

>>53770699
holy shit someone should seriously report this home to safety inspectors for the safety of the entire neighborhood before it burns down

this image does not pass fire code, imagine having the balls to post this in an advertisement for a property your selling (that's occupied with tenants)

you can't do this kek. how is he not already being sued / fined into oblivion with the property banned from human occupants.

we live in a society with laws

>>53770638
Ten years of getting fucked have taught me it's always a boomer.

>>53770501
3 words. Baseboard. Electric. Heaters. They are probably payin 1500 a month to keep this ancient home warm in the winter

>>53770538
>>53770566
This is most likely a Gen X project. Boomers got burnt in 2008 doing flips and fake renovations so many just stayed away for the past decade. Boomers prefer retiring and renting out their second house.

>>53771392
>report this home to safety inspectors
Are you are delusional? What "safety inspectors"?

>we live in a society with laws
You are delusional.

>>53770501
>bringing in over $6,000 a month
you know how you know a jew landord is lying? his lips are moving. the reality is that it will be lucky to cash flow $200 a unit after all expenses.

>>53770580
>no oven range vent hood
kek

>>53771392
i once saw a boomer niggerfaggot convert his attic to an apartment and post it to facebook marketplace. i'm assuming someone reported it because it was take down after like 1 day. the ceiling was heavily slanted like pic related, and he had an electric oven pushed right up against it, such that the top of the oven was literally making contact with the ceiling. lmao.

>>53770501

Somebody help out a Europoor

I thought that a lot of USA houses were cheap because they came with debt attached so maybe this has like 200k of debt.

>>53771137
sorry to interrupt goyim but just fyi
there aren't any jewish people living in top city it's a complete shithole lmao

>>53771138
That’s actually a Jewish name lmao. Could be German either though.

>>53770501
>What the fuck, who in their right mind would sell for such a loss. This property at anything less than 600k is an instant loss.
They lower the price to entice people to buy their bags.
What do you mean?

>>53770593
>Don’t you like doing your laundry while cooking a roast chicken?
I mean everyone can do that, even people who walk to the laundrymat can cook and do laundry.
Weird flex.

>>53772611
Point being a property's value is determined by its rent times 100. If it is generating 6k/mo it is worth 600k.

>>53771191
>White culture

>>53770587
Just follow Christ

>>53770501
hoomers are negative IQ
just look at anything listed for more than 2 weeks on zillow/redfin and it's a constant laugh

>>53772520
>because they came with debt attached
AFAIK that's not a thing.

>>53772628
1% rule hasn't been relevant for a while. also it doesn't generate $6k/month. >>53772245

>>53772686
What is the new rule then? Buy shit that doesn't make 12%/yr? Why not just buy stocks at that point?

>>53772672
tax liens generally stick with the house and do not follow the homeowner.

>>53772694
the cope du jour, at least for the past 5-10 years, has been BRRR (buy, rehab, rent, refinance, repeat) but that's no longer a viable option in most markets because of low inventory, lack of reasonably priced fixer uppers, HELOC/cash out refinance no longer being viable due to LTV limits and high rates, and a very real ceiling on rents that the market will support.

the reality of today's market is most likely buying an overpriced rental property that will cash flow maybe $200-300 per unit after all recurring and projected expenses, and convincing yourself that it's a good idea because you're slowly building equity over the 30 year loan term. never mind that a single bad tenant can easily cause $10-20k in damages (lost rents, flood/fire damage, etc.) and wipe out your cash flow for the next 5 years.

t. looked into buying a multifamily home but decided against it for numerous reasons.

>>53772742
>buy, rehab, rent, refinance, repeat
See, I thought of doing that, but then I realized that's a fucking retarded idea and all of your assets are on borrowed money waiting to be taken by the bank. I only buy outright, pretty much never mortgage - especially on rentals. Mortgage on rentals is how you foreclose. Plus I am only in real estate because it got me out of paying taxes.

>>53772844
>Mortgage on rentals is how you foreclose
letting the rentcucks pay your mortgage is also how tons of people made money

>>53770604
Whatever happened to putting ceramic tiles in a bathroom?

>>53770699
>extension bar dangling by a wall nail over the sink
HAHAHAHHHHAHHAaaa..

>>53773263
that was true 3+ years ago when rates were 3-4%, prices were 20-50% lower, and rents had headroom.

>>53772671
>He who panics first panics best
The hoomers that price to sell NOW will sell at a higher price than those that still desire 2020 prices. They can sell now by pricing a 3bd 2bath single family at $350,000 to line up with mortgage rates but the majority will not and they will end up selling at an even lower price.

>>53770501
>NIGGERBALL MEMORABILIA HANGING ON THE WALL

CRINGE MAX

>>53770604
>thinks that is concrete
That’s a textured stucco wall you fucking turd world crypto dork

>>53771137
They are fucking everywhere

>>53770580
>>53770593
>>53770604
is this really how Americans live, even third worlders have better living conditions

>>53770501
Sunday afternoon, here in bongland in the misty cold valleys. All tucked up my nice comfy electrically heated bed in owned outright 47k nuclear bunker house. Done absolutely nothing at all today and yesterday. And along comes a realestate thread. Comfy.

>>53770593
>Don’t you like doing your laundry while cooking a roast chicken?
It has air con.... stop complaining. Bootstraps... get em pulled!

>>53770604
>Here’s your unfinished concrete wall shitter
Air gapping. Fire safety. I don't make the rules.

>>53770660
>maybe he's getting sued and it's a liability he's trying to dump
If it's generating 6k a month genuinely and nothings wrong, and he bought it for 47k... he'd have to be an absolute idiot to sell it. It'd have paid for itself in 12 months. So yeah.... something doesn't add up.

>>53774056
>it's generating 6k a month
gotta be lying about this part

>>53770699
>least he took the time to precariously place the power socket above the sink so you can electricity yourself to death after buying this shithole
That's for your egadets anon. If you rotate the TV you can watch it whilst cooking.

>>53773357
Too "expensive" and requires actual skill with patience.

>>53774056
>>53774094
only way that fucking shithole is generating '6k a month' should be in code violation fines

>>53774295
In terms of trying to trick buyers, it'd make sense to actually pay the renters (e.g. friends) off the record to pay you the rent back so there is an apparent record of it generating that much, with tenants in place. Then they just leave shortly after. Easy peasy.

>>53774336
so you're trusting drug addicts with money they need to hold, then give right back to you? doubt it.

>>53770699
Bro what the fuck is this

>>53770501
That must be nice living in an area where prices aren't exponentially rising anymore

>>53774363
Depends if the druggies where in there during the 12 months he rented it. It seems to have been smashed up when he bought it for 47 in 2022, then he's rented it out for 12 months and is reselling at 400 supposedly generating 6k a month. If it was druggies in there they would be unlikely to be paying him 6k a month during the 12 months. If anything at all.

>>53772520

Only certain cities like Detroit attach back taxes to properties.

>>53772742

Eventually people will realize that getting .001% per year as a hoomer is dumb when they can get 5% from treasuries with none of the risk. Then there will be a massive flow of capital out of housing and the market will heal only for the cycle to start again.

>>53770771
meth is hell of a drug

>>53774688
>Eventually people will realize that getting .001% per year as a hoomer is dumb when they can get 5% from treasuries with none of the risk
It's been going up by 9% a year in the UK. Plus I live in an area where there won't be any new additional housing built

>>53774384
People have a lot more money than you.... it's time to realize this and make a change before it's too late anon...

>>53774814
they probably dont. they just have a ton of debt.

Fuck yeah total flipper death.

>>53770699
>Crock pot on the stove
Is this some kind of boomer forbidden technique?

>>53770699
i for one happen to think that hanging a power strip on a nail above a sink, probably plugged into an ungrounded socket, is peak functional aesthetic

I don't understand how you Americans are able to complain about Real Estate
>Average house price in Cali: $500.000
>Average rent: $2.000
>Average house price in Europe: 500.000€
>Average rent: €900

I've looked at my local market and even with ZERO vacancy, the lowest possible regular maintenance and not accounting for any extra costs there literally isn't a single property i can find to rent out that makes a profit

>>53772605
>gets kicked out of 109 homeowner's associations

In case anyone feels like sending a fax to the Fire Marshall about this kike: https://firemarshal.ks.gov/directory.aspx?did=6

Fax:
(785) 296-0151

>>53773360
I'd almost expect this was some satire staged prank photo.
But then, I dont think it us a joke I think real.
Truly scary

>>53772253
>no oven range vent hood
Do those even do anything if they're not actually plumbed to a vent that goes outside?
I've only ever lived in one house that had a kitchen vent/exhaust that actually vented to outside.
Every other place just had an above the stove hood with a fan that just vented right back into to kitchen

>>53771138
>Flippers deserve the rope

That was maybe a nice house at one point. Before whoever chopped it up into 3 apartments. Now its nothing but a fire trap.

>>53770538
anon I inherited a literal shit box of a house recently and the minute I showed up with a crew to fix the place up I had three inquiries in one day about renting the place. Literal vultures these rentoids.

>>53775282
>I don't understand how you Americans are able to complain about Real Estate
They can get land _SIGNIFICANTLY_ cheaper than you can in Europe anon... single digit thousands, on decent finance. And permits.

The only ones that complain are the ones that insist on living in the city. Which is increasingly pointless given that you can work from home.

I'd totally go for Kansas if the anuses would stamp a visa up.

>>53771138
Shit like this is exactly why I'm just waiting on buying property. The amount of people running into flipping houses blindly is ridiculous. They're going to get fucked hard the longer rates stay up. I'm thankful to be in a great living situation right now.

>>53774814
Kek. Consumer debt is at all time highs but yea people are loaded.

>>53770662
lmao nice

>>53770501
Would you guys buy a Civil enforcement sale 'as is, where is' property?

>>53776079
>that turd worlder who thinks he would be rich if only he lived in america

that "cheap land" has zero utility hookups. no electricity. no water. no sewer. no cell service. nothing. it's illegal to live on it without utilities. a well costs $20-30k to drill. a septic system costs $10-20k. electric and internet hookup, who knows. new construction on land you already own starts at $200 a square foot. even modular homes are $150 a square foot. oh and that land is cheap because it's in an area where jobs pay $18/hour. have fun paying your $1500/month mortgage + insurance + taxes + utility bill when you make $2000 a month after taxes and benefits, and you NEED a car to drive 45 minutes each way to work at the local slaughterhouse or warehouse.

me and the boys discussing which primarily latino northwest side chicago neighborhood we're going to gentrify next

>>53770580
Looks like a damn Sims house I’d build when I was 8 lmfao

>>53775994
Excuse me sers, is your household on renbts please?
I am job now. can pay many times. Many times, yes.

>>53776484
Beat it pajeet! I only rent to employed whites!

>>53776498
Thank ever kindly Sers. Yes. I am jobbing now. Will pay many times. Much renbts always. You never be afraid. Am jobbing happily sers.

>>53776314
There's a 1kwh in 1kwh solar policy in effect anon. And wfh.

Realise the potential.

>>53776719
>purple
Get a new passport anon seriously

>>53770662
>They don’t have a good bathroom to do coke in

>>53777444
Checked

>>53776314
>demoralization: the post

>>53777372
>purple
yeah, we fought a war with EU to get Our Bong Blue Passports back
>we got blacked with cheep Polack crap instead
>unironically

>>53774419
desu $6000/9 units = $666.67 per unit hilariously which seems reasonable. this is obviously before tax/insurance/principal/interest/maintenance etc. but that seems reasonable for overall "income" not but not profit

>>53770501
I wonder what would happen if /biz/ started targeting neighborhoods on Zillow and sending hard lowball offers (I'm talking like 20-30% of asking) to all of the sellers. How long until a price reduction cascade would be triggered?

>>53770593
that may be a portable dishwasher not laundry

>>53777970
lets effing go! need some more soldiers with $. I got the capital NY region for 2-3 houses on my end

>>53777893
>$666.67
>seems legit
shithole is a literal deathtrap - there also isn't *three buildings* - its a single building shack someone subdivided into 3 'units'. Then, this fucker divided those by 3, spending no expense and not exactly strictly to code either, by the looks. And very fucking definitely not very safely. Its a lawsuit/disaster waiting to happen. The funny part being, he'll probably collect on the insurance, when the inevitable happens.

>>53770604
And whatever you do please don’t put any of your shit away or fix that hole in the wall.

>>53778020
As much as I'd love to, I don't have the $ for actual offers (hence why I'm fantasizing about the reductions), but would that even be necessary? I'm just thinking some concentrated activity with messages like
>I'm potentially interested in your listing for the property at 69 Shithole Blvd., but the current asking price is too high given the state of the property and local market conditions. I can make your client a cash offer of (30% of asking).
Then refuse to budge more than like +2-3% for the ones who actually respond with a counter, and back out on anyone who actually decides to take the offer.

>>53774814
That's fine. Home prices can quadruple over 3 years whatever. Enjoy your purchase

>>53770699
Wtf I can't tell if this is an outdoor kitchen or not. Why is the stove next to outdoor vinyl siding?

>>53773378
My god, it's gotten to the point where Zoomers are nostalgic for 2019 prices?

2011-12 were the real glory days.

>>53770501
based Christian Okoye jersey

>>53770501
>>53770580
>>53770593
>>53770604
>Its free money!
>They're paying my mortgage!
>It's passive income!
>Houses only go up!
>Dave Ramsey said they ant making more land!
>Collecting rent is my retirement plan!
>Just kick back and watch the money roll in!

>>53772844
The "landlord is a service" is not a meme. New landlords actually think its passive income. You actually need to put in some work and most landlords get 4-6% return on investment at best. The only RE investors that make real bank are the ones that own multiple complexes in multiple markets and have management staff on payroll.

Small mom and pop rentals are exposed to a single rental market. So location is more important than ever for them. But a lot of them fail to do their research of a area they are buying in.

>>53778957
Where is the one with the Redditor who bought a house for 1.3 million that's now worth 800k and his life left him? That one made me smile.

>>53779521
Nevermind found the post, lol

Are there nice parts of Topeka? Property seems reasonably priced and comfy living.

My ex rented a place like this in indiana. Just an old house split into 3 units.
Only one of the tenants had access to the breaker box, and that tenant was a heroin addict so she was impossible to get a hold of. the addicts mom lived in the other unit. It was 600 dollars a month, a living room, a bedroom, and a bathroom.
The original landlord "sold" to some guy, and kept the tenants there, and then the new landlord faked his own death a couple months later. Then the original landlord kicked everyone out saying he was selling it, then the new landlord showed back up and said he was raising the rent.
Fuck the midwest.

>>53779579
Midwest is great. You just picked a shitty place to live.

>>53779594
I was talking about my ex. She went home after we broke up, I have oceanfront property.

>>53779553
Whys he stressing? When you owe the bank a million dollars, thats their problem. Repo the shitshack and wait 7 years in time out. We love capitalism.

>>53779562
straight up no
literally not a single place
and Wichita is no better

>>53779553
KEEEEK what a fucking retard. That shitbox was valued at 400k in ‘15 and only 280k prior to that. Imagine FOMOing so hard that you pay 1.4 million for this hahahahahahaha I hope he kills himself.

>>53770707
jewgle will never gives visibility to 4chin archives in 2023, not even in the 200,000th page. You'd have to use Yandex for this thread to pop up.

>>53771138
>(((Wahl)))
Every. Single. Time.
Good to see a kike jewing himself. Hope nobody ever buy his cardboard crack den and he kys out of despair.

>>53773443
The jew probably put it there to hide a giant hole dug by the resident methheads to access copper wires.

>>53770699
>now some boomer scumfuck is trying to sell it for 400k after “remodeling” it with $2k worth of appliances and a day of Mexican slave labor. It’s the boomer M.O.

It's Topkea, no one will pay this. It also says 9 units and that it's a collection of properties. Is it possible he isn't showing anything? No way he's getting 6k rent out of that building in fucking Topeka, it's one of the few areas where there's an abundance of housing and you can rent apartments very cheap

>>53779553
>Woke Negropolis (formely known as Seattle)
>tech bro about to get fired like 50% of the profession
>with 1.4M of debts
>house market going to hit full depression levels in 6 months
>wife already thinking about selling her anus to another beta provider
Gonna fetch the popcorns

>>53770501
>>53770580
>>53770593
>>53770604
I hate "Cheap Flip Gray" so much. It's better than "Cheap Remodel Cream" that came before it but I am so ready to see whatever comes after white-trim, Silver Bullet by Behr, and that stick-on LVT as far as trends go.

>>53779553
Beautiful.

I particularly like that he
>works in tech
yet apparently do basic maths / reasoning

>>53780897
His post history shows that he plays poker which is hilarious considering his financial illiteracy

>>53774056
One of 3 of the buildings was 47k so it's most likely he spent around 150k purchase and 100 renovation, maybe less.
>>53774094
>>53774295
>landlord paid utilities
There it is. It's actually only about 4500 because the utilities are 1500.

Markets are largely seasonal and Jan,Feb,March are the lowest inventory months. This creates a seasonal shortage of homes. There are more listings than the last 3 years but supply is still quite low. I'm not a rent cuck but I do think that the solution is to rent and to fuck things up in a way that causes no liability and requires landords to immediately correct. If a nation of wagie renters can bonk the lords on the sly with enough expenses then liquidation shall occur. Old fucks will be happy to off the house on the market after having a bad experience. This is the way my frens. Be a good tenant, but maybe introduce termites and structural issues. Maybe find a way to corrode the boilers and ducting! We need supply to buy!

>>53772245
99% guarantee not Jewish in Topeka lol, its more likely owned by your moms husbands boyfriend who pretends to go to church and be holier than thou.

>>53771191
Wahl is a super common German-American name in Kansas. 99% protestants desu.

pic unrelated

>>53781661
>destroy supply to increase supply

>>53770699
>all that shit hanging by command hooks on the wall
>those green onions regrowing in a big gulp cup
>that window and outside wall paneling on only one side so you can feel like youre having an outdoor cookout while you heat your moldy crock pot with your stove
this house is fucking awesome, i want to smoke crack and slam my head through a wall here

>>53779553
My understanding is if you buy a million dollar home. There will be no issues. If you buy a 200K home there will be issues all day long.
I am currently buying a house that has issues but the seller is giving me a credit to fix the issues myself. I'm paying over 300k.

>>53781661
It would be better if apartments were way cheaper than renting a house. Then rental homes would have to bring their prices way down or sell.
In the Phoenix area where liberals have not completely taken over. We have fuck tons of new apartments coming online. Can't wait for prices to come down.

>>53785367
>There will be no issues
what kind of retard thinking is that?

>>53785439
What's living in Phoenix like these days? I left in 06 after growing up there.

>>53785494
The one who has an inspection on the house and tells the seller to either fix the house or they are not getting million dollars.

>>53770501
who the fuck would pay literally any amount of money to live in Topeka, Kansas? You couldn't pay me to live in that shithole.

>>53785505
>What's living in Phoenix like these days?
Summer is coming.... It is going to suck. otherwise, I love the hiking.

>>53782527
This one is a Jew

>>53779594
Where is this anon?