/biz/ - Business & Finance

>>54263287
500k surely is if you use it properly

>>54263287
If I make that much, I will be incredibly happy. All I want is a nice home for my wife and upcoming child. I fear mortgages, and just want out of the rent trap.
Gambling on crypto with about half my worth to make it happen.

>>54263355
>MY WIFE AND INCOMING CHILD SER
>IF YOU COULD GIVE ME 500k IT WOULD BE PRETTY NEAT SER

>have 500k
>put large down payment (maybe half) on multifamily property
>high enough down payment that you're only counting on 2/3 units to produce income
>live in third unit
>initially contribute to rainy day fund for repairs
>let rentoids pay your mortgage
>profit
My ultimate attainable goal once rates go down. Well on the way there

>>54263287
and when you get there youll realize its not at all lmfao. its 350-500k for a house in a decent area woth decent schools.

>>54263719
buying a house is a life changing event

>>54263287
Yes it is
>pay off rest of my mortgage
>pay off my brother’s car for him
>send my parents on a very nice vacation, capped at $20k, likely half that
>invest the rest in VOO
$500k isn’t enough for me to retire but would put me on a real path to retire early once my son graduates college

>>54263598
Imagine paying $900,000 to live in the ShitCongo

>>54263719
lol you actual retard, owning a home in a decent area is literally, by definition, life-changing for anyone not already living like that. ""life changing"" doesn't mean you suddenly become Richard Branson. Your brain is infected with greed and Keeping up with the Jones-ism, purify yourself

>>54263817
You'd effectively be paying zero. And even at 900k that's a deal for a neighborhood as nice as lakeview. Probably the safest neighborhood in the whole city

>>54263848
>You'd be effectively paying 0
You'd be literally paying $900,000
>Probably the safest neighborhood in the whole city
That's still worse than almost anywhere else in the Western World

>>54263958
It's safer than comparably priced suburbs

At my level of poverty 10k is life changing 100k is a fantasy and 500k is riches beyond my wildest dreams.

600k is poorfag tier, it horseshoes.

>>54263958
>Damn he found my stash

>>54264003
That is a pretty good for the ShitCongo
What do you do for a living though? Do you need to be in a big city?
You could buy 4 to 6 houses that size with bigger yards in a small-town with no crime at all for that price

>>54263355
I want you to know I own my own house and rent out two others (I still have a mortgage on them)

Thanks for paying my mortgage and I hope you raise your wife's so well anon! Very kind of you!

>>54263287
500k is only like half a house lmao
its basically nothing

>>54264210
Half a house is more than 1/10th of a house

>>54264210
>spends 1mil on a house that cost 200k to build just because it’s in an ultra high COL area
Oh wow you’re a total faggot demoralizing shill. Kindly fuck off

>>54263598
Every apartment I've lived in I've put terminate eggs behind wall sockets when I've moved out. Each place.has had to have termite remediation in a few years.
> Get rekt landie

>>54263287
At the bottom of the market cycle? Sure
But right now it will just devalue to half it's worth by next year

>>54264210
Did you know you can buy a house without putting 100% cash down?

>>54263287
>one (1) post by this ID

>>54264303
>terminate eggs
Oh yeah lotta termites in Mumbai?

>>54263598
Kek. Nice 900k land you got there renter

>>54263287
Only if you use it wisely. Just channel it into USDT and have them earn rewards for you via yield protocols.

>>54263287
I had 1.5mil. it was not life-changing.

>>54264303
Based

>>54263598
>My ultimate attainable goal
Sounds awful, honestly. You couldn't pay me to live like that.

Owning a rental property, and living in that same property with two or three tenants?
It's a job. And you'd always be "at work" 24x7
Every noise you hear you'll be worrying about something breaking, "what are my tenants doing to my property now?"

Plus, you're going to be living in an apartment with two or three other families?
So all the risk of home ownership, all the increased risk of owning a rental property, and none of the actual benefit of living alone on your own property.

Fuck no. I'd rather wage for someone else than have other people living in my home.

>>54264411
Then you must come from a family and home worth multiple millions then.
Literally 10k at poverty levels is life changing anyone saying otherwise is simply a demoralization shill.

>>54264130
>What do you do for a living though? Do you need to be in a big city?
Yes I own a software development agency. Chicago, in comparison to any other major city, has the cheapest talent in the US and usually people are very easy to work with here. Also, given my age/stage (late 20s, engaged so no kids) is pretty conducive to living in a city. Pretty nice to be able to walk to everything I need on a daily basis
>gym
>grocery store
>train to work
>stores/restaurants
Pretty nice to be able to not have to use my car to get to everything. Especially when Im in a neighborhood (unlike much of the city) where I can walk around safely. Hopefully our next mayor makes that basic sense of safety more widespread across the city.

Also my fiance is in public school administration, so Illinois is pretty much the best place for us to be for her job. Works well for both of us. She commutes up to the north suburbs every day so eventually, when we have kids and need better schools, we'll likely move up there but keep our properties in the city.

And really the biggest reason I'm in the market for a multifamily property is as a hedge against property taxes. When my taxes go up, I can almost immediately pass that expense to my tenants rather than bear it myself. Right now I live in a co-op though (own a condo) so our taxes are distributed between myself and the 4 other owners.

>>54264426
>You couldn't pay me to live like that.
Okay, sure. No one's forcing you to. It's not for everyone but I'm confident it's one of the only ways for young people to attain that same level of wealth creation boomers had access to.

>>54264493
>fiance
>She

Jesus Christ learn the difference between fiancé and fiancée

>>54264537
English isn't my first language, thanks for letting me know

>>54263287
Literally just don't have kids and go to college for something useful.

>>54264493
Well best of luck to you then buddy hope you stay safe there, I'd recommend buying a house in a small town for cheap if you can afford it just in case you need to get out of the city fast
By the way most small towns have a gym and grocery stores in them, you need to drive more but it's not bad because there is no traffic

>>54264656
Small towns means no jobs though. I would move to a small town if I could get a job out there. Much cheaper.

>>54264003
>Schaumburg
Show me Naperville or St Charles

>>54264130
>small town
>no crime
Enjoy your car windows being smashed by Cletus the heroin addict who works at the circle k

>>54264678
There is enough blue collar work to around in Small Towns and you cam afford to live a good middle class life off of them because it's cheap there
I'm an Electrician myself and do fine
Also some of them have colleges with large staffs and some have factories and some have both
Plus alot of people can work from home now
Peak comfy is living in a place with 5,000-50,000 people

>>54264705
Lmao I don't even know anybody who has there car windows smashed except for 1 drug dealer who ripped someone off and they broke his windshield in retaliation

>>54264765
I work in le tech meme. So I have to live by a city. Also, don't want to work trades because sitting at a day desk all day paid to do nothing I would still do for lower pay.

>>54264819
Is this like a small town small town or a commuter suburb "small town"?

>>54264684
>show me the #1 safest town in america
Naperville would be more comparable to a lincoln park IMO.

>>54264656
>I'd recommend buying a house in a small town for cheap
Chances are, when we eventually move out of the city, it'll be to a nicer suburban town on the north shore or one of the north suburbs. Those are where the school districts my fiancee works in are, and where her family is (mine is elsewhere in the country entirely). Home prices up there are obscene so we'll probably be on the smaller side. The good news is some of the high schools up there are generally considered the best public high schools in the entire country. Makes the high property tax a tad more palatable.

>>54264942
An actual small town, more of a small city really, 20,000 people

so lame

>>54264617
But that's French.

>>54264872
Understandable, personally I listen to youtube videos most of the day and can swing by my house whenever I want to, also I don't have any back breaking labor
Electricians are the big brains of the blue collar world
>>54265046
I hope you make it out, prices will be alot cheaper if you can find a town outside the suburbs though one not to far out so your wife's commute isn't any longer
But far enough out that you get those nice Midwestern prices
Is your job one where you have the potential to work from home?

>>54263598
>Living in the People's Democratic Republic of Chicago
You will not make it

>>54265621
Where do you live that's better?
>anywhere else
Isn't an argument

>>54263287
how many haircombs is this? 0.22? 0.34?

>>54264426
Thank you for expressing my sentiments precisely.

I had 1.4m and didn't do anything with it kek.

i live in india so yeah it's decent for now

>>54263958
Someone please chudify this image

>>54264303
lmao rentoid larping is pathetic

You think we give a shit about having to pay a $1000 repair bill every 3 years? Chump change.

Rent's Due!!

>>54264400
That's a good idea, but it's also good to keep some for emergencies and probably always make payments with crypto cards from projects like Cryptocom, Plutus, and CryptMI which offers cash-back rewards.