/biz/ - Business & Finance

>>9198563
What's your wallet address?

>>9198563
Go fuck yourself, you're not poor you asshole.

TLDR

BRAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAP

>>9198602
I've been working for less than three months. My father is an alcoholic and drank everything away.

>>9198563
I am cureently living in a a 1 bedroom apartment with t people and in a black neighborhood. That's poor.

>>9198563
Plus I flip burgers and clean toilents during the "best years of my life"

>>9198639
This.

>>9198563
>>9198639

>>9198563

>>9198639
yep pretty much. sorry op not reading about your problems.

>>9198563
I say go for it.
Seriously.
You are not rich, but not poor neither. If flipping the furniture is enough and will allow you to have more time to look for what you actually like then fucking go for it.
I recently did something similar even though my situation is even less secure than yours. I just couldn't exist like that anymore. So I decided to live instead.
Still stresfull and life ain't roses or chocolates but at least I don't have to deal with idiots every day and smile when I don't feel like smiling.

>>9198563

ok 1: don't ask the internet whether THEY think YOU should quit your job. that's your own decision. the only reason you should quit is if it takes time away from something that could potentially make more money, or it's taking time away from something that is already making money but needs more attention.

in my honest opinion. stay in your job. if you have to ask whether or not you want to quit. don't

2. what i suggest you do is start being active instead of sitting on a board like /biz/. believe it or not, not a lot of wise things happen on this board. i'd say start reading books, save 70-80-90% of your pay or whatever you can afford to save, and start thinking about a business venture.

3. with the condo thing. that's a great idea.. but i have a better one. i've personally done it before and not only does it save money. it provides a little more income that you can then pump into a business idea. lemme type it out in my next post

this is essentially a guide on Living for free (or low cost, whatever you want). what i'll tell you here is how to buy a duplex/multiple family home. live in it, and also have other people live in the other units. this allows you to live in a property that people are paying you to live in. meaning your home will be making monthly income, and you won't be spending much at all.

this is assuming you live in the U.S by the way.

1. what you'll need first is a stream of income. whether it be a job or your own business.(you also need 2 years of 1099 history for it to work).

2. you also need to NOT have an FHA mortgage.

3. you need good credit. (fha minimum score threshold is lower 500's) hopefully your credit score isn't trash.

now here's the major steps:

> 1 getting approved for fha and a loan
so the first thing you'll need to do is find somewhere people post reviews. like Yelp. then look for the best mortgage broker in your area. there should be hundreds or thousands near you.
now, obtain a mortgage pre-approval for an FHA mortgage. the mortgage broker will show you how to go through this process. just call them and ask.


once you get pre-approved. the broker will give you a loan once you find the property you want to live in. they will charge you a fee at closing which can also be rolled into your loan (fee is like 1% or something).

> 2 finding a property
so go around and look for a real estate broker. and once you do. tell the broker you want to look for OWNER-OCCUPANT freddie mac or fannie mae properties that are between 2 to 4 units.

the reason for this is that both the freddie and fannie foreclosures are because owner-occupant buyers have a 14 day window to bid on these properties before investors. you don't want to lose the property war nor fight it.

part 2 coming soon....

this should be the last and final part.

now once your broker gives you these foreclosing properties in a list. look for the ones that you'd like. look for one's that are near large areas of transportation, and new neighborhoods. basically where all the millenials are moving in and shit.

now when you've found your area. hop on a website like podmapper.com to see what rent in the area is like.

for example. if you live in dallas and you look up units with 2 beds and 1 bath. you'll find that rent in the area is like $2000 per unit on average. now multiply the rent times the amounts of units in the building that you bought.

example three units =
3 x $2000 = $6000 a month gross rent.
now take 50% of that for expenses or something like that

$6000 * 50% = &3000.

boom. that's how much you'll be keeping in your pocket every month. and that's not without operating expenses, we already accounted %50 of our income for that.

now do some math and figure out how much your mortgage buffer should be.

for example:
you paid $200,000 for this 3 unit property at 4.25% for 30-years. and 3.5% down your monthly payment would be $1,500.

so accounted for your mortgage. you'll be keeping $1,500 every month. now you have No mortgage to worry about paying, no expenses either, and you still pocket $1,500 every month.

now this isn't a get rich quick scheme. it only gets rid of worrying about living in a building while you try to make money. it takes about 2 months or so to set it up (or at least when i did it a year ago). but it takes away a lot of stress. now all you'll have to do is focusing on creating a business that people will love, therefore giving you money.

>>9199486
quick tip, if you want lower prices. buy your duplex during the winter, as prices are low and there's less competition.

>>9198563

LARP... get fucked. quit your job and kys.

>>9198563
I'm very impressed with your drive, actually. Keep in the job for as long as you can stand it. Use the cash to do what you seem to be good at, which is real estate. I envy your thrift. You have a good chance of getting rich at some point.

>>9199370
>>9199486
>>9199502
I'm already doing this, except the condos aren't located in the same building as my house. The main benefit of living in the same building would be in the income tax savings and a small profit gain since I wouldn't need to pay association dues, but thanks for the advice.

Ultimately this strategy brings me full circle. Yes, I can amass more wealth, but what for when other than covering my living expenses there is little I want?

>>9199547
What do you want proof of, that I went to grad school, my mortgage payments? Nothing I said is outlandish, and the job offer I received isn't exceptional by any means.

>>9199601
Honestly, I think I'm just a result of classical conditioning. When you have to wait weeks to months to buy something you want, even when it's something small, then you'll be disappointed virtually every time because the reward is never large enough to warrant the wait. Eventually, you just lose interest in material things. The main joy in buying the real estate wasn't in that it became mine, but that I managed to buy it despite my low income. It was a challenge, nothing more.

I'm sitting on about 40k right now with nothing that I want to spend it on. There's a three unit building 2 houses away from me that I thought about purchasing, but I'd need about double what I have.

>>9199145
>believe it or not, not a lot of wise things happen on this board
>get off 4chan
>continues to give lengthy advice
kek
>>9199808
why don't you just stick the job out for a year, save money, and have a little windfall and then just flip furniture

You said your house is getting paid for with rent money, as well as your other properties?

Fuck man, that sounds like a pretty prime setup to me

>>9199808
well the main goal in life isn't to just buy new things as quick as possible. that's what consumerism teaches. you should ask yourself WHY you're doing everything you're doing now.

think about yourself 70 or however many years from now. if you're lying on your deathbed, what do you want to think back upon? memories of beating income challenges, browsing /biz/ alot? or would you be regretful of that. live the life that you'd live as if you were going to die in a month. live it with purpose. if you want to travel the planet during your life, work hard for it, then do it. if you wanna grow a huge family, get out there, learn and create one. if you want to increase your income. work hard for it like it'll kill you if you don't.

>>9198639
kys

>>9200066
checked
and checking...

>>9199999
>>9200000
>>9200001

>>9198563
BRAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAP sniff sniff

>>9198639
This, OP is a faggot.

>>9198563
If your mortgage is paid off(or at least the expense covered from the condos) just power through for another year or two. you should easily be able to take home 50k a year on that salary, and then you just need to use that 100k to generate an extra 10k a year which should be easy.

>>9198639
Based!!!

Braaaap

http://www.imagefap.com/pictures/6612678/Cute-barista-Eleni

fuck u pussy 85k is a lot of money. Definitely more then enough to buy a decent computer. Stop being a fucking retard pussy I make like 10k a year

>>9201141
best post in the thread
thanks brethren

>he's claiming he's "poor" despite having two condos that pay for themselves, a house, and now has been working for 3 months in an 85k/year job

I make $7k/year and that's a lot for the country I live in. I wish I had a 1/4 of what you had, I'd be capable of starting a business or doing something with my life that isn't a pointless daily grind just to survive.

>>9198563
sounds like you have severe depression. go see a therapist.

>>9198563
>never been poor in your life
Well theres always your next life!

>>9198571
Op here ( on my phone)

Eth address: 0x8bd63A34c6a273Da098943A89603018DcB693c62

If you're feeling kind, if not it's fine

>>9202233
No, it's not.