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/biz/ - Business & Finance

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53223290 No.53223290 [Reply] [Original]

is landlording worth it? i'm running numbers of the house hacking meme with a $180k triplex in (rust belt shithole city.) with some reasonable assumptions i'm only coming out ahead like $900/month assuming i rent 2 units and occupy one myself. this can't possibly be worth the risk, can it?

>> No.53223323
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53223323

>>53223290
I'm renting out a home in London and I would get roughly 3k per month.

After the agency fees, taxes (UK and Italy) and service charge I would be left with barely 1200 euros per month. Landlords are truly the most oppressed workers

>> No.53223343

Not in this economy. You'll get better returns buying treasuries.

>> No.53223379

Househacking is well worth it in a decent area (live in one side, rent out the other). Easy to manage and deal with maintenance.

The people who end up underwater in this space overextend and overleverage too hard on bottom half quality properties with shit tenants who destroy places, are late and spotty on rent, and homes that have big repairs lurking that eat into profit.

So this is a game of being good about doing your due diligence, picking areas where you can rent to decent people, at a good profit margin, and that have been inspected to make sure you aren't going to have a $10K plumbing repair crop up within the first 2 years.

>> No.53223864

>>53223379
have you personally done house hacking? my main reservation is that i don't want to live in a triplex for long. i want to use this to springboard my net worth accumulation. but i look at how little i'm benefiting, the taxes on profits, selling costs or cash out refinance limitations and fees, etc. and it doesn't seem worth it.

>> No.53224087

Nobody gona believe me when I say this.

I know an old wog (Greek guy) here in Australia. He worked a taxi driver in the 80s and bought 2 commercial real-estate plots on a main road.

Now as the city expanded outward, the commercial real-estate he bought has a bank operating there, and the bank pays him $230k/month in rent for both plots.

I know this because I work for firm who does work for him and we got talking about how he got into that position.

>> No.53224144

>>53223290
I am trying to learn from a guy who rents out 150+ properties. He's living large but is a boomer as well. I would counsel you to consider the rewards but also consider that cockroach humans like me will pour grease down the drain and treat your house like a hooker, oftentimes damage not being apparent until years after I moved on to a new habitation. Also some smells never come out. People are insane dude don't think there's an easy free lunch. You gotta pay to play my nigger. You want a bunch of folks not paying rent when the recession hits (really hits) and the government is telling you that you can't kick em out but still owe property taxes and home insurance? Be my guess nigger.

>> No.53224199

>>53224144
>but is a boomer as well.
tread lightly. most of these types of people are low IQ retards with all sorts of ideas that are no longer applicable to the modern world. it's like asking a lottery winner for financial advice.

>> No.53224201
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53224201

>>53223290
>this can't possibly be worth the risk, can it?