/biz/ - Business & Finance

>>55268592
I just got given one. Well, a flat, not a house.

>>55268592
I want to respond, but you're spamming this picture every day so how about you go kill yourself instead?

>>55268602
Inherited?

>>55268612
No. I actually didn't want it and was badgered into it.

>>55268622
Damn sorry to hear that anon

>>55268592
I could have bought a home much earlier (in my early 20s). But I chose to move out and have fun as soon as I turned 18. In that decade I traveled, partied and worked. In my late 20s I moved back home for a year or so, finished my mom's basement in exchange and now she can rent it and I saved enough to buy at 31.

Your traction may vary depending on where you live or your job.

>>55268629
I know how it sounds. I actually pay rent voluntarily because I feel bad about just being given a flat.

>>55268645
>I actually pay rent voluntarily because I feel bad about just being given a flat.
why?
be happy about it.
when i was younger i let many good opportunities miss me because i felt bad about it, that was a huge mistake. you should be happy people are giving you a privilege that others dont get. rent is awful, they're letting you live without it so you should accept it wholeheartedly.

>>55268698
Sure, but I just feel bad "mooching". It's not a large amount of money for me, and it's more meaningful to them, so it's an overall win-win. The rent is not crippling, though.

I'm not buying until interest rates are back in the 3-4% range. I don't mind waiting years.

Ideally? Thirties or whenever you have a family. But that’s not always realistic given prices and wages.

Where's this bus goin'?

>>55268645
Sounds rough

>>55268592
>What age should you buy your first house?
When you have a stable job and have money for a downpayment
>When did you guys move out and buy yours?
I bought mine at 30
>Renting forever would be a bad financial decision, so I hear
yes my mortgage payment is not going to change much and I get re-finance to 3%

>>55268592
>graduated college at 22
>house #1 at 26 (125k townhouse)
>house #2 at 31 (325k house)
>house #3 at 34 (475k house)

Homes 1 and 2 are rented out and generate 4400/mo in rent

>>55268735
Rates are 4% with no money down if you buy outside of major cities

>>55268592
Bought my first home at 27 years old for 400k USD. I put 200k down now the house is worth $550,000 and I only owe 180k. 12 years left on the loan at 3% interest rate after refinancing.

>>55271516
I'm not poor so I don't qualify for any gubment shit

>>55268592
Bought my house at 30. Could have done it sooner, but I had a pretty comfy apartment

>>55268592
>rent is le bad
midwit take. same poster who spams rural shithole zillow listings i presume?

>>55272132
>rent is le bad
>midwit take
lmao rentoid seething

>>55268592
i bought a dump by the beach in florida in 2016 that I now have 300k in equity in. The list of improvements to be made is incredibly long and demoralizing. AC is going to go out this summer. Roof will need to be reshingled in a few years. I really want to sell and rent a condo for a few years on the oceanfront. Everyone is telling me its in a beach town in FL bro, keep it bro, its gonna be worth a million in 5 years bro. Idk man. Keeping this place somewhat respectable looking is exhausting.

>>55272648
You're up 300k and you're complaining about paying 6k to replace the A/C?

You don't have to stay in the place. Rent it out. Rental income will cover your mortgage, then you can go rent an oceanfront condo.

Do not sell. Your mortgage is an asset that saves you hundreds per month in interest. Who knows when we'll see cheap mortgage rates now. The fed is not going to cut rates any time soon - homes are still selling at or near 2021 prices, even though rate increases have decreased purchasing power for new buyers by 40%.

Neither income nor population is going down, and they're not making any more oceanfront land.

>>55273510
yeah, well at the time i bought it was poorfag so only put down like 3%. Mortgage is $1,500. Rental comps in area are like $2,800 for a standalone house our size. Owe $170,000 (purchase price $220) and sales comps are in the $550 area. Its all so confusing to me and overwhelming interest rates and all that. I'm not a numbers guy man I hate thinking aabout it all the time.

>>55273784
How is your mortgage 1500/mo if you bought for 220k? Are you paying 6k/year in property taxes?

If you sell, you would net 360k, which you could dump into treasury bills at 5% (1500/mo). There's likely other investments you can do better on, I just chose a safe one.

If you rent it out, you would net 1300/mo, and the property will appreciate with inflation. 2% inflation on 550k is an additional 900/mo.

>>55272132
Retard

>>55274018
Idk it just is, maybe bc i only put down like $8k and used the first time buyer program in FL to get $15k which is paid off $3k at a time every year (now gone)
$1,516/month total for mortgage payment
Including $2,400 in property taxes

>>55268592
>renting forever would be a bad financial decision, so I hear
Nah anon you should rent, I have a very nice unit available for a fair price I swear on ur mom :'^))

>>55274558
I forgot that you're coastal Florida. You're probably paying 400/mo in home insurance. Sucks.

>>55274742
Why is Texas's crazy high? Just the coast?

>>55274742
Why is home insurance so fucking expensive in the US?

My UK policy was £100 for the year, covers £750k for the house and £100k for the contents

>>55274775
Tornadoes and Hurricanes.

>>55274775
because you don't own the property.

test am I banned again

>>55274775
Any money people in Florida save in Taxes are off put by insurance prices. Midwit trap

>>55274784
Minus the states with shit weather, it's still ~9x the cost of UK insurance

>>55274792
I'm not a rentoid

Martin Shrekli laid out the rent v own case brilliantly in the past I wish I could find it, but basically if you are making less than 250k/year buying a house is retarded

>>55274742
$210

>>55274828
What's he say just invest instead?

>>55274859
>>55274828
https://youtu.be/NABQKu3OX6U

>>55268592
homes were like $120k when I got out of college. my salary was about $55k. so I just bought when I got first job then paid it off fast.

>>55274840
>Mortgage Insurance

Why the hell didn't you refinance to remove that?

>>55274864
He literally says don’t bother investing and be the best wagie you can possibly be in this video you dumb nigger

>>55274975
And?

>>55274840
Well, lol. My dad is in the finance business and had a guy for me. The guy took forever and basically i ran out of time. 4.375 is my rate. Rather pay more now than have gone thru the drama that would have occurred had I gone with someone else. Rich kid problems I guess but its real

>>55274859
https://www.bitchute.com/video/OSY36mObWUWY/

He never makes any rent vs buy comparisons. He just says stocks give better returns (no shit). Banks aren't going to give you hundreds of thousands in loans to buy stocks.

He then goes on to make incredibly stupid calculations

>6% interest rate in 2017 (rates were 4%)
>500k home price in 2017 (homes were 240k)
>Home only increases 3% per year in value (he then later changes this to -10%, lmao)

He projected that a 500k home in 2017 would be worth 597k in 2023. Those homes are worth 800k now.

>>55275033
didnt know i was namefagging this whole time, embarassing

>>55268592
30
174k annual
bought at 28- 320k 20% down 240k mortgage @2.75% 4b2b 1330 monthly; zillow 380k

>>55275144
Congrats on the billboard bro

>>55268592

Buying houses is for plebs. Buying commercial property is where the moneys be at.

How do people even make money out of their residential houses?

>>55275082

Renting is superior to buying when it comes to residential land.

When it comes to commercial, buying is superior than renting.

>>55268592
I am never moving out of my parents' basement. I spent 18 to 30 yo NEETing playing video games and watching anime and came out to a world where avg house prices where I am are $1M+ and I earn $40k a year. I screwed myself so hard I think I am just going to NEET for life if I get sick of the job I have.

>>55276921
and even if I save up the deposit over 3-5 years by doing absolutely nothing with my life I won't be able to afford the repayments and prices are going to be going up faster than I can save anyway. I dunno what I'm gonna do when I'm older.

>>55272194
>rent for 1-2 more years
>"lose" 10-20% of rent

>fomo into terrible house deal
>baghold for 10 years
>boomer exit liquidity

>>55276052
>commercial property
Most people can't afford commerical property so residential houses are the best they can do

>>55268592
Timing is everything when it comes to finding sweet opportunities, and I gotta say, with MNICORP I'm getting my house soon. These dudes are hooking up loans to real-world businesses in mining, hospitality, and construction. And the best part? These businesses put up land collateral and get rewarded with some ROI. It's a win-win situation.

>>55277123
You're lagging behind, anon. The smart ones are already capitalizing on RWA, especially with their good loan collateralization features. Time to level up and get in on the action!

>>55277489
RWA pill me anon

>>55268605
?

>>55268605
Found the pothead lmfao

>>55277971
I don't smoke weed. Just sick and tired of seeing the same greasy smoker face every day.

>>55277509
By the time such projects as MNICorp are done with their plans to unify defi with tradfi, even the pilled fool like you would be accepting crypto for payment. I know it's coming, and it'll be soon

>>55278498
so filter it retard

>>55268592
You buy a house when you can afford it, anon.
But for real, you want to reduce the amount of money you're throwing into the pit as much as possible. Closing costs don't go towards equity, neither does pmi or maintenance you have to do in the house before you buy. Same with interest or homeowners insurance. You'll want to calculate the amount of money you'll spend on rent and compare it to the costs of all these things over a certain time frame. It may well be better to just rent. Only ever buy if you have at LEAST 20% down.

>>55280905
>Only ever buy if you have at LEAST 20% down.

You want to put the least amount of money down as possible so that you can free up your cash for other investments. Then once your LTV drops below 78% you refinance.

>>55268592
20, join the military and apply for a VA loan

>>55268592
21.