/biz/ - Business & Finance

>Work through highschool and college
>25k saved up once I graduated college
>Used 25k as down payment and bought duplex with garage
>rented out both duplexes, lived in garage, rental income was higher than mortgage payments
>also use $ from work to prepay mortgage
>be 28, mortgage paid off on duplex
>obtain loan for small commercial real estate lot
>use duplex as collateral
>loan out commercial real estate lot
>be 32
>so far 1.3m net worth in real estate equity
>feelsgoodbro

>>Bought 2 condos with 13k down each
>>After expenses, making almost $400 / month on each when rented
>>Recently sold them for over 100k profit each
>>Proceeds from each sale will buy a multifamily
>>thatshowyoudoit.jpg

>>745031
Agreed. Ill never understand the /biz/ stock market circle jerk when they even admit index funds are the way to go.

look at the biographies of multimillionaires and youll find more than 90% had real estate dealings

Cmon biznessmen. You already waste money on a mortgage or rent. Why not have someone else working a 9 to 5 to put a roof over your head and turn the home into a cash flowing asset?

>>745031
Can't get into the market in my area, 100k for shitty condos. Maybe I can start when I'm 35 or so, assuming I skip marriage and kids.

>>745129

Well, I think most of the folks on /biz/ are really young, have maybe only a few thousand to invest, and have never done things like paint, lay tile, etc. And, without a good job, they won't be able to get a mortgage. Then there's also the fantasy of "day trading" that gets into people's heads.

Combine all that together, real estate just isn't an option for them.

Yeah, smart real estate is amazing.
>Be 21, dad passes away, leaves me house (not paid off, but only 30k left)
>He has minimal life insurance as he was sick his whole life, used about half to fly friends/family down & for the funeral itself. used the rest to pay off the house
>Working making about 35k a year, Let 2 friends move in with me, paying 650 a month. I spend about 1k in total on all bills & food
>Bank my entire paycheck
>23 I decide to go back to school and get a Bach degree, I used the money i saved ~70k on a down payment for a house near the school that is valued at 200k.
>I move in, renting 3 rooms for 750 each, rent my room back at my other house to a friend for 400 a month (he was having a rough time, but for the cheaper rent he had to do all the maintenance shit I was doing at the house - lawn, gutters, etc etc)
>Graduate in 2 years + summer (was working the whole time also).
>By time I graduate I have 90% of the loan paid off, only owed 20k of the original 130k
>25 now, move about 150 miles away for a new job, starting at 75k, Initially I get an apartment for 6 months that was 900 a month. After the 6 months, the other loan is paid off, buy a 100,000 condo with 20% down.
>28 now, Condo is paid off so I have no rent payment, Got a promotion and I'm making 85k a year from my job.
>Making about 15k a year from one house & 25k a year from the other.
My personal monthly expenses are ~1k. I am sitting on over 150k right now. Deciding on if I should look for another property or what I want to do.

And how'd you raise enough to put down a down payment at such an early age?

If your answer includes parents, inheritance, or anything other than saving your own hard earned cash; go fuck yourself.

>>745031
>>745034
>>745117
>>745163


This is probably a retarded question but I'm going to ask it anyway.

Is it possible to get a mortgage for real estate through an LLC? I'd like to one day invest in a condo or apartment in the 100-150K range, but I'd like to not lose my shirt in the unlikely event that I cannot find a renter or the market tanks.

>>745034
>28 years old

Mirin

>>745173
Parents + working for 2 years while living in moms basement. The 2 years salary was enough but my parents gift was happily accepted

>>745189
Figures. I guess I just don't understand the point of bragging when you're born already on 3rd base.

>>745185
I don't think you can, especially if the LLC is otherwise worthless. But if you run an LLC worth a lot of money, then you may be able to get a business loan of some sort. It would likely not have as good of terms as what you'd find in a 30 year fixed rate.

How does one get into this business if he doesnt life in muricka?

>>745198
Its not required to live in America

>>745205
Correct - but your mortgage terms may not be as favorable and you must start filing taxes in the US as well as your home country.

Oh and you must also send me a $1000 registration fee...

>>745034
>rented out both duplexes, lived in garage
how and why? that sounds miserable

>>745163
Well yeah, being handed a house in your early 20s is the key to success.

>>745208
>>745205
>>745208
>>745205

Try it in Germany, you will fail so hard your spine breaks

Its literally impossible to pull of such a thing

>>745208
To clarify; i did this in Denmark not USA
>>745224
It might be doable in Berlin

>>745185
Yes you can get a loan from a bank with a shell llc. They will want you to personally guarantee the loan, however. They understand the real estate game and 99% of real estate rental loans they do will be with a shell llc.

>>745185
You will be fucked if you can't find a renter. The reason for doing an llc is in case a renter wants to sue you, they are only able to get the assets you hold in the LLC (ie the property and NOT your life savings/401k/whatever)

>saved 60k while I was enlisted for 4 years in the air force
>got out and bought a condo for 120K
>used unemployment money to renovate it, costing 11k
>rented out a room while I renovated it
>sold it 1 year later for 190K

all the while the VA paid my private school tuition and paid me $1600 a mo to go to class

>>745210
I don't the how but do you have to ask the why? Because he could not rent the garage for as much as the duplex

How feasible is working with property in the UK?

Seems our prices are a lot steeper.

So you just buy a property, rent it out, and then it will magically balloon in price a few years later? what's the catch?

>>745427

no, but when you live in a booming housing market like Austin Tx, your house appreciates at 8% a year

Bump I've got 5k could I get anaything in the realestate world with that? I'm looking for a place that's a shithole but will soon have white hipsters move in so it becomes "trendy"

>>745031
Your story doesn't seem believable and I don't rate Real Estate as an investment unless you're gonna make a business of renting out the property but even then there's a myriad of problems.

But yea, your story is BS.

Is it more important to pay off student debt than it is to start investing in something like real estate (buying a duplex and renting it out)?

>>745427

Tenants will destroy your shit. My mom used to rent a house and basically ended up giving up and selling because repairs between tenants ended up eating away most of the profits anyway. You might have better luck if your property is high end though. Ours was fairly low end.

>>745475

Yes I think it is. Strictly dollars and cents you might be able to get something that will return a higher percent than the interest on your loans, but the peace of mind and all that is worth whatever small difference there is.

What is the best way to do real estate if you have a wife? I am looking for a 2000 sq ft single family home in a decent location for around 360k. Duplexes are too expensive in this area. Condos don't appreciate as much, have HOA fees and shared walls.

Basically I am not looking at this as an investment, more like a place to live for a long time and have equity. I may rent out a room to friends or someone I trust for a while, not sure if a good idea though.

>>745480
The tradeoff is that properties that cater to the poor have cheaper income. Trailer parks are cash fucking cows and trade at much higher caps than your average multifamily

>>745487

I used to live in a trailer park it was absolute bullshit. The guy who owns it is probably rich as fuck by now

>bring your own shelter
>we provide a water hose, an electrical outlet, and a sewage tank
>that will be 500 bucks a month :^)

>>745491
Trailer parks return ~20% - 30% py.

>>745410
Wondering this myself. I assume with all the butthurt over 'buy to rent' landlords there must be good money in it. If you can afford student housing you'll be quids in, my current landlord takes about 24 grand off me and my housemates every year. My dad pays half that and he lives in a 5 bedroom detached in Cheshire

>>745493
those returns with self operation or even after mgmt co fees?

surely investing in real estate/property isn't a sure fire thing though?

>>745512
it's anything but a sure thing, and when everybody starts getting into it with very little diligence, that's a good sign we're all fucked with a bubble again.

>source: work in commercial real estate acquisitions & development

>>745487
Boom. You got it.

Ok lisyen up naysayers and all the posters above who have little or no money. You can search on "bigger pockets" for a huge fucking list of ways to make money investing in real estate that dont involve just buy and hold

But today im gonna introduce you to my friend "the lonnie deal"...im switching from mobile so hang tight...

>>745031
Why do you have a trip, we have ids

>>745555
So owning the actual land outright is great and contrary to what many think people do live in mobile homes and its a viable industry (buffet invested heavily in a manufacturer of mobiles)

but the lonnie deal is just a notes game

You find "motivated sellers" of mobile homes and buy them for below market price (already placed at mobile home parks as moving the things eats too much money) and then you resell the mobile home for market price. You act as the bank (the lender) , take a cash deposit and monthly payments.

You can sell them "as is" but even if you wanna do repairs its simple as tit (nailing down boards or painting things) and cheap as fuck. Mobile homes as an asset decrease in value vs say a dup[lex that'll make you money indefinitely but the ROI is astounding.

Get 3-5k together and buy a few on the cheap, flip them for 2-3x (or more) of what you paid with a good chunk down (you want to make back what you put in within 6 months) , rinse and repeat. No tenants calling you to fix toilets or any of that bullshit just a check every month.

they destroy the place? who cares, not your problem. They stop paying after 2 years on a 5 year note? good, resell it and get another fat down payment.

they destroy the place and then left? you're in the black after 6 months so what the fuck ever, repair it (again, this is cheap even if it needs to be gutted) or just sell it for scrap.

Now lets talk cap rate on parks. 85k will get you a 5 unit park, lets say you let 1 tenant live for free and he's your maintenance man, that leaves 4 paying tenants handing you 4-800 a month, lets do it conservative and say 400, thats 1600 bucks a month cashflow, not so great right? fucking wrong brochacho! because people selling the parks are down for the note game as well, they let you swing that deal for 20k down and low ass hell interest payments. You're in the black a year in.

Totally under appreciated real estate investment vehicle.

Other options to follow...

>>745577
1.) Raw Land – This is as “raw” as it gets (see what I just did there!). Purchasing land usually does not produce cashflow, but can be improved to add value. Land can also be subdivided and sold as well for profit.
2.) Farm Investing – In addition to the land itself, the products that are made on the land can be used to make a profit.
3.) Water/Mineral/Oil/Gas Rights – The cousin of investing in raw land, this is the process of buying and selling a person’s (or company’s) right to use the minerals (or water, oil, gas, etc) on a property.
4.) Single-Family Homes – This is the most common investment for most first time investors. Single-family homes are easy to rent, easy to sell, and easy to finance. Single-family homes may be more difficult to cashflow, and can take a significant amount of time and effort to purchase just one unit.
5.) Duplex/Triplex/Quads – Small multifamily properties (2-4 units) such as these are one of my favorite investment routes. These property types combine the financing and easy purchasing benefits of a single-family home with the cashflow benefits and less competition found in larger investments. Best of all, these properties can serve as both a solid investment as well as a personal residence for the smart investor.

>>745581
6.) Small Apartments
7.) Large Apartments
8.) Large Commercial Office Space
9.) Small Commercial Office Space
10.) Industrial Properties
R.V. Parks
Motels/Hotels
Notes
Fix and Flip Single Family Homes
Buy-N-Hold Single Family Homes
Hybrid Fix-N-Hold for Single Family Homes
Wholesaling Apartment Buildings
Fix-and-Flip Large Apartment Buildings
Buy-N-Hold Large Apartments
Hybrid Fix-and-Hold for Apartments- Find a low-cost apartment building needing help, fix it, then rent it until it is most advantageous to sell.
Turn-Key-Investing
NNN Lease – Often times big businesses do not want to own the building they use (for tax purposes), but instead rent the building and pay all costs associated with the building such as maintenance, taxes, insurance, and more. You, as an investor, can own these buildings for highly-passive income.
Vacation Rentals
New Construction, Residential
New Construction, Commercial
“New Every Two” Primary Residence Flip – Many investors simply invest only in their own home, adding value and reselling every two years. The reason behind this is that in the US, the IRS allows a tax-free sale of a primary residence every two years. If you don’t mind moving often, this might be a great option for you.

>>745463
Bump someone please answer this

>>745584
Cash Purchase, Sell on Contract – If you have the cash, you can buy properties and then immediately re-sell them to buyers who may not be able to conventionally qualify for a mortgage. You can carry the mortgage for as long as you’d like, or sell the note for cash in the future. Make sure to collect a large down payment when using this method.
International Real Estate Investing – You don’t need to live where you invest (but it often does help a lot). Many investors choose to live wherever they like but invest where it makes the most sense – often overseas. While there are many challenges to this type of investing, there are also huge rewards to those who can effectively navigate the international waters.
Lease-Option Sandwich – Without actually owning the property, lease-options allow a person to gain control of a property by leasing it with a legal “option” to purchase the property at a specified price within a specified time period. Often times these properties can be re-“sold” using another lease option and the investor simply makes money being the “middle man.”

etc

>>745463
No.

Maybe get a loan.

>>745585
I fucking just did, you could buy 2 mobile homes with 5k, flip them for 2-3k back in your pocket and notes for 360ish bucks a month for the next 3 years

shit did you just get 3k back ? I think you did, make that 540 a month for 3 years off the initial 5k

>>745593
Mobile homes cost way more than 5k.

>>745608
on craigslist

those people bought for full price and expect back that plus the money they put into it, you find yourself a seller who needs to gtfo (happens all the time) and owns the thing free and clear and then explain to them the reality of their situation (for starters the fact that it depreciated 60% as soon as they originally bought it)

check the NADA (mobile home pricing guide) and search out what your local market supports, thats your ballpark for "fair market value" thats what you'll be reselling it for

what you buy it for is half of that or less, the way you do that is by finding motivated sellers (behind on lot rent / military and moving / grandma just died etc)

You get way better margins than youd get with a normal home even auctioned /short sale / forceclosed , you're just dealing with smaller numbers

>>745577
>Here's the secret guys, just already have money and get incredible deals on everything!

No shit, sherlock.

>>745581
This is decent though.

>>745163

How exactly determine what to charge renters? Don't have an apt, just curious

>>745655
Look at comparable apartments within the area that have the same square feet, amenities, etc.

>>745652
Reread my first post dude. If you cant scrape together 3k then /beg/ is where you should be not /biz/

A few grand is about as low as youll get for a business startup

SOMEONE PLEASE EXPLAIN HOW YOU KNOW YOU AREN'T BUYING A PIECE OF SHIT HOME?

Also, how do you into legal protection?

What is best books to read? I may be in a good situation in the next year regarding income so I'd like to start investing in estates of the type that are not fake.

(It wasn't a hamburger. It was a fish sandwich. Come on google.)

>>745577

I just checked on craigslist and found a mobile home for $15k

It says the typical rent in that area is like $105/month.

It would take 12 years to make that back.

ARE YOU HAVIN' A GIGGLE MATE?

>>745724

Oh wait, so you are actually saying you don't just rent it, but you sell it to them at let them 'own' it ala a mortgage.

So, what would you charge per month? and why would old people on SS want to buy a fucking mobile home and also do poor people actually buy these things?

>>745705
For one, yes. Retards buy one. One deal can go bad and you lose everything, you should only deal with something if you can buy 5-10.

>>745724
Here in south Carolina, about the shittiest trailer you could rent would be $100-125 per week in majority Mexican trailer parks. If you own your own trailer, just the lot rent with free water/sewer is at least $175+ per month. Pay your own power. These landlords make an ungodly amount of money.

>>745031
>Property speculation
>Best way to get rich

>be 19
>work 2 jobs and go to school
>Save enough money and buy land in foreign country with a buddy
>Begin constructing houses there via contract with company
Cost is 29-31k depending on job
House sells for 63-74k
Profit ??

>>745031
>low taxes spikes the retail price
>retail price spikes the land tax
>government more monies
>huge tarriffs on foreigners
>government more monies
>locals continue to tax evade via capital gains
>locals more money and need less government monies
>basic income comes through
>locals more money
>immigrants stand on the sidelines, waiting in line on an imaginary year long queue whilst technically being "illegal" in a country they're applying to live in
Now here's the kicker, those immigrants? Somehow they've been convinced this is a better deal than staying in their homelands.

How shit is it over there?

>>745754
>speculation
>>745758
Yes

>>745788
All of Western Mexico is like the Wild Wild West meets Mad Max. Not all the time, no, of course not, but when the cartels roll in every 2-3 years to take resources and rape wives, people die like ants.

>>745802
Raise a lot of boys, give each of them an AK, make them look like hunting rifles if any of your boys happen to be running for president.

>>745807

>>745810
I think /pol/ gets me more than /g/

The housing market is doing great here. I'm tempted to try flipping an older house. My father worked in construction/home remodeling for almost forty years and I have all his tools, expertise and help in investing into the property.

I've just been too chicken shit to pull the trigger on the project. Anyone have experience flipping properties that just need a little work?

got $20k

what kind of real estate can i buy

>>745577
Can you mentor me? I have capital to get started. I want to be a mobile home niche master.

>>745504
Let's invest.

>>745820
>$20k
>real estate

something in Minecraft maybe

>>745224
Excuses.

>>745224
Why do you think so? I can't see any obvious obstacle.

>>745725
You charge whatever they can afford that makes sense and is supported by your locale. You need to know your area though including local counties and what average lot rents are , you arent getting the lot rent but thats another bill they have to pay and youre setting yourself up for failure if the people buying are stretched too thin.

Lots of people buy and live in these

>>745821
Google "lonnie deals" , you can get the pdf's for free on all the basics if you dont have some money to throw at it. Lota of messageboards spell it out too. You have a little more paperwork to deal with nowadays because you're acting as the bank but its a small barrier to entry none the less.

>>745034
>>745117

>Really /biz/? Am I the only one who is going to ask?
Where the fuck are you getting condos for 13k and duplexes for 25k???

>>746162
The ghetto where else.

>>746162
>what is a loan
>what is down payment
>meme arrowing a question

>>746170
What is whenever the housing market collapses and you have nobody wanting to live in your rat shit housing and the bank takes your shit

>tfw laying down 275 large for your first rental property on Monday

I-I don't know if I'm going to be able to do it bros.

>>745758
the only problem is you can't buy houses in most foreign countries unless you have the nationality of that specific country.

Also a lot of countries don't have the stability and legal rights as most developed western countries. Some government official can just take your house from you if he likes it and there is nothing you can do about it..

https://www.youtube.com/watch?v=VMw4zCtX6co

I'm still concerned about any legal issues i'd have to go through.

I have roughly 3k. in liquid cash and I'm about to graduate college. I have an internship that's close enough where i can live with my parents rent-free, and a trailer park is nearby.

This lonnie deal stuff sounds like a hugely golden opportunity, but i just don't want to get sued or anything by people renting my MHs, I feel like these might be the kind of people that GET sue happy. Would I have to make them write a contract or is this stuff generally paper money only?

>>746184
Thats not gonna happen :^)

Lol this thread is definitive proof that we are in Housing Bubble 2.0

>>746210
You're a bubble

>>746196
when a parking spot costs 300K it will happen..

http://www.dailymail.co.uk/news/article-2385905/Parking-space-near-Hyde-Park-goes-sale-300-000--TWICE-price-average-UK-home.html

Is it a good idea to buy real estate when the housing market collapses?

>>746263
>is it a good idea to buy stuff when its at its cheapest
If you think the market reached a bottom, sure.

>>746277
>>746210

Prices are only going to go up.

>>746189
>Some government official can just take your house from you if he likes it and there is nothing you can do about it..
Apparently this happens in Thailand where you own the house but not the land beneath it.

>>746191
What would they sue you for? After a few deals a year you have to get a mortgage loan originator involved (protip just become one) even if you dont and 1 out of 20 sues just hand him the keys and cut your losses.

Mortgage loan originator licence sounds scary but its about as difficult as getting a real estate licence. Or just pay someone a few hundred per deal to do it.

Also shelter your notes under llc's

Here's a real estate story for you:

I have a friend named Andy. He is financial tighter than a fat lady's sock. he has a business degree from a mid-tier state school. Worked in the service industry, saved his cash. He decides to "buy land" but doesn't have much cash to spend on it. So he hears that our city sells small bits of land from time to time that people have not paid taxs on. So the city siezes the property and auctions it off. Andy starts buying little shit tier pieces of land: have a vacant lot, 12 feet of land near a corner, and the most he ever pays is $1500.00 for a small piece of property. Over a few years he accumulates about 1 acre of land in a shitty part of the city. Needles, trash all over. Then....

The price of natural gas climbs from 1998 to 2008 to $13.00/mmbtu from $1.88/mmbtu. Underneath Andy's land , about 8,000 feet below is the Barnett Shale. Everyone wants to lease Andy's "acre" of pieces of land. Andy leases it to Devon Energy for $22,000. Andy cashes the check; price of gas collapses. Andy paid about $8,000 for the total group of pieces of land adding up to an acre.

Eight years pass. The shitty side of town where Andy's land is is so cheap it attracts investors. A big hospital will soon be going in the area attracting all kinds of medical industry. Land prices begin to rise. Suddenly a group of doctors approaches Andy and offrs to buy his "acre". They offer $280,000.00. Andy takes the offer. It funds in a week.

TL;DR: Buy small shitty pieces of land at tax auctions and hold for 16 years. Profit!

>>746589
That also sounds like you could buy shitty lots worth next to nothing, hold it for 20 years while the town around you declines, and the value just depreciates forever. If this story is real, it sounds similar to a guy walking in a casino and calling the correct number on a roulette wheel out of sheer luck

>>746589

this is retarded. your friend benefited from pure chance/luck, and still only managed to make a meager amount (in a span of about two decades). stay pleb

>>746604
/biz/ - the only place where making a 3400% return in 16 years is meager.

>>746630
you forgot to adjust for inflation
8k at 1999 ~12k 2015
22k 2008 ~ 24k 2015
280k 2015

2700% return
over 16 years

160%/y

>>746630
When it's based on two instances of extreme luck, yes.

>>746162
No, those are the down payments - I don't buy all-cash. This is in California

>>746589
In most places the banks swoop in and take almost all the tax lien properties but yeh its worth hitting the auctions. Watch out for HOA fees though

>>746216
>>746210

Nope, house prices are going to the moon

>>746162
It's called a loan. You don't pay all cash for a house especially if you are a first time home buyer. There are just too many tax breaks and incentives.

>>745820
You could get a decent house in Texas if you leveraged that with a loan. I hear the real estate market is booming there but that may end up being a bad thing. I think the oil market went bust or something.

>>745211
>tfw this could have happened to me but my parents fucked our lives with a divorce instead

very true. both my parents were professional workaholics who spent years building up capital to do real estate. their networth is in the millions

>tfw child of nouveau riche

Im starting my own career now and gonna pick up on some real estate intuition from them. then hopefully live off capital gains when i'm 30+

one can dream

>>745390
>air force
Would you reccommend enlisting to an aimless 20 year old at community college? I've been thinking about it more and more

Any good suggestions for Australian real estate? Should I be looking into city/suburban areas or more rural?

>>747823
Investor here - from what I've seen and read, AUS is nowhere you'd want to buy rentals right now.

>>745031
Do you live in Denmark, by chance?

I'm a Swede living in Norway but I've heard Danes got really low mortgage interest.

i do hotel development; could answer any questions folks might have in that realm.

>>745031
How did you do it? Teach me.

How the fuck do people into the housing market in the UK? Everything is so overpriced here for shitty property.

>>745191

Fuckin' jealous bitch.

Anyone here from Toronto? The bubble here is fucked. A small shitty detached home in a downtown ghetto costs 700k+

>>749039
My parents live in one of the nicest towns in the USA but it is increasing in size and 3-4 different hotels have oppened in the past 6 years or so. Is it too late to get in on this? How could I? General thoughts on the situation?

I'm about to buy a cheap house, it's probably going to be a fixer upper. Anyone have any tips? It's my first real estate purchase, and I'm probably going to go through the VA for a home loan, since I'm military.

The nice thing about this is, since I get BAH but I'll be on deployment for months at a time, I can sink the BAH into the mortgage and eventually get that money back, rather than wasting it on rent or not getting it at all.

>>747584
Never get married.

>>749051
Buy low sell high
>>748201
Yeah Denmark. 1.5-2% fixed interest rate for 30y and 3 years variable interest rate is like ~ 0%

>>745129
That was then, this is now. The previous wealth in real estate was made because it was in an environment of falling interest rates. Furthermore, the U.S. was not in the business of blowing asset bubbles.

Today, in a ZIRP environment, it's quite a bit more difficult to make money in real estate. If you buy a property for $500,000 with a 4% mortgage, what do you think you'll be able to sell it for if mortgage rates go to 8%?

For the time being, there is money to be made. However, it won't be nearly as easy as it was in the past.

>>745163
Beside the benefit of being given a house with a lot of equity already in it, you rented to friends while you lived in the house itself.

It can be quite a bit more difficult to avoid awful tenants when you are an absentee landloard.

>>745427

The catch is that this kind of economic policy ultimately ends up being a greater fool investment gain. If it is so easy to gain 8% or more per year in housing prices (which is a leveraged investment that will give the buyer 40% or more gains in a year), why would anybody even bother working?

This was the same idiocy that culminated in the 2008 bust.

There are likely still a few years to go before the day of reckoning arrives but when it does, those who are leveraged to the hilt will likely go bust.

My mom inherited over a million dollars and decided she wanted to grow it by investing in rental properties. She's broke as fuck now because none of it is liquid and tenants keep fucking up the properties or not paying rent. I will be very surprised if she comes close to matching the returns I've made over the last 5 years.

I will probably never own property, maybe I'll get a mortgage for a house just so I can milk the lowish interest rate.

>>746189
Is this the case in romania? my father bought some land there. Im also going to inherit a penthouse near a beach, a flat with a pool (not only for me, comunity pool so qts go there too), there's also a flat that my father and his brother bought half-half so I guess i'll get some of that too, there's also like 6 parking spots, a restaurant near a beach, a local with a business that my dad runs. All of this is paid, 0 debts, the only thing left to pay is another local where my dad got a franchise based business.
All of this sounds great but it's difficult to manage, my dad is always stressed as fuck and pissed off when I see him, I don't wanna end up like that.
Im NEET because working fucking sucks and im genetically tired, i make like 400€ monthly off Bitcoin, so that's an extra tax-free money I make. I plan on renting everything as possible and not working a day in my life for my healths sake. I dont own a car and dont need one (of course I would love to have a ferrari, but thats life). My country is shit and salaries are shit, I've only got basic education and im 25, there's also no welfare that I could get.

Im just wondering what I could do with the land on romania. What is the situation there? is it worth investing on building a house and renting it? hows laws over there?

>>749899
>i make like 400€ monthly off Bitcoin
How? Isn't mining done?

>>749202
ya but its getting worse

>>749700
Where did you buy your property? I live in Denmark for five years, as of now i have 200k krones saved, but for the next year i will be saving hard as fuck and hope to add another 100k. I really would love to buy apartment or a house and rent it out. I live in a shitty apartment, but it is all for free. Even all the bills are paid by my boss. So i hope that rent would cover loan payments and property taxes. What would be your advices ?

>>750151
My apartment is located in Copenhagen. If you live for free i would be very carefull about buying an apartment. Its hard to rent out because of the fixed rents.

If you have a decent salary and a long time horisont (5 years +), you could get an apartment with fixed 2% interest rate. Thats what im gonna do next year, sell my apartment and upgrade to a bigger one.

>>749253
I live in a tourist town in Ireland with a population of about 14,000 people. We have almost 200 "hotels" in and around the place, and about 20/25 genuinely nice ones. Point is, if the place is getting tourists there's no end to the hotel game

>>749191

sry he's right, faggot

>>750181
Sorry for me being oblivious, but what is fixed rent ? What is the danish therm for it ? I thought it should be very easy to rent out your property in Copenhagen as from talking with people i got impression that there is a big shortage of housing in CPH.

>>750939
if your apartment is located in a building from before 1992, then there is a maximum rent you can charge based on the size and condition.

I cant remember what its called but if you search "max husleje Kbh" it will be easy to find

>>745191
>bought apartment at 18 for 200k USD
>parents covered down payment, I cover running costs
>now worth 330ish k USD
>profit is all mine

3rd base sure is great!

>>749899
>>750977
CANCER
A
N
C
E
R

>>749899
>genetically tired
what?

>>745031
i don't understand how anyone makes money off real estate. i've spent a lot of time reading stuff like BiggerPockets.com and the return on investment seems terrible once you pay off the mortgage, taxes, maintenance, management fees, etc.

>>751295
10-15% cashflow plus any appreciation plus tax breaks seems terrible?

>>751295

>2008 bought a multi-family in a gentrified area
>cap rate of 15%
>reinvest cash flows into another multi family unit
>pay off loans
>$600,000 in equity
>Can leverage to buy more real estate

"I don't understand how anyone makes money off real estate."

Don't read pleb sites. muh bitcoin. muh penny stocks. Keep hatin' kid, maybe someday you can move into one of my units.

>>749891
>inherited a million dollars
>broke

Fucking...Just...Fuck. All my grandparents are dead and I got $500. My parents don't even have retirement savings, and I'm the only one in my family making over 60k.

How to people fuck up with a silver spoon? Do they toss it into acid or something?

>>751483
>I bought a house after the biggest crash in the US real estate industry.
>I made money after the biggest recovery in the US real estate industry.

Easy mode sure is great.

>>746162
tampa has condos for 20k.

>>747086
lol thats the same thing bitcoinfags said
lol thats the same 2007 housing market fags said
lol
lo
l

>>747823
The Australian property market is crazy at the moment but you do see some opportunities every now and then, but definitely not the low hanging fruit these guys are talking about, basically you have to become a property developer rather than a investor, e.g. buy a old house, knock it down and build 3 town houses on it.

>>751483
Yeh. they do the math ass backwards. Listen up kiddies.

We are leveraging our credit worthiness to create assets.

So mid tier earner guy goes hardmode frugal and save half of earnings after taxes.

Every year he can set aside 15 to 20k. So every year for a few years he has a down paymwnt on a new property. The property rents for x% of the total properties value but his only skin in the game is the down payment. Renters move in and pay his mortgage which becomes equity that can be cashed out later and they also give him some cashflow. Rinse and repeat.