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/biz/ - Business & Finance

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10378630 No.10378630 [Reply] [Original]

What should i know before being a landlord?

Im 18 and making great money doing interior design in a factory, i have 5000$ saved and i plan to become one in 6 months.

>> No.10378645

you gotta be a shrewd cunt

>> No.10378692

>>10378630
Be prepared to take a life if you absolutely need to.

>> No.10378721

How to beat massive niggers into submission

Otherwise you have to hire someone else to do this work.

Have fun!

>> No.10379810

>has $5000 saved.

WTF u gonna buy with $5k down.?
Get real. Stop shit posting. I’d prefer a good ole fashion LARP.

>> No.10379828

>>10379810
Yeah tell us that you have 10m you stupid fuck

>> No.10379884

>>10378630
I run 12 rental units. You need a minimum of 20Gs in the bank as a safety if you manage in a major city...10gs if its in a small town. Qlways do BG checks and never let anyone in without a contract. Cash checks ASAP and if a check bounces be prepared to start evection proceedings. Also, remember people live like animals and be prepared to deal with the most disgusting things imaginable. Nothing has made me hate people more than being a landlord.

>> No.10380740

>>10378630
Don't rent to people with brown skin.
That's all there really is to it.

>> No.10381070

>>10379828
$5k is not a good down payment on a house. Good job though, OP. I couldn't save for shit when I was 18.

>> No.10381099

>>10378630
>Great Money
>5k in savings

Can't be that great.

Honestly though OP. 5k won't get you anything try saving at least 20k.

>> No.10381677

>>10381070
>>10381099

Are you retarded? FHA loans.

>> No.10381685

>>10381677
on an investment property? the loan officer will laugh you off the phone

>> No.10381696

>>10380740

Sad but so true

>> No.10381716
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10381716

nice man

>> No.10381874

5k won’t even cover closing costs

>> No.10381924

>>10378630
Not gonna make it. what are you gonna do when the waster heater breaks the first month a tenant is in there and you need $1000 right now to replace it? Also you need 20% down on investment property. + closing cost is going to be like 3k+. You're going to to have to fix shit and make it look nice before someone will want to move in. you have to make mortgage and insurance payments while fixing and having no rental income coming in at first. You got this anon good luck.

>> No.10382113

>>10381685
Why would you tell them

>> No.10382133

>>10378630
That you are limiting your freedom by signing up to the liability of 360 payments. Also birth rates decreasing in the west. How much is your freedom worth?

Why not get a REIT?

>> No.10382155
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10382155

Wait is this really all you need?

I have 40k bong at 20 as a student. Is it possible for me to buy a full size house when I graduate in a year?

>> No.10382778

>>10378630
You're planning to become a factory in 6 months?

>> No.10382825

>>10378630
If you plan on having a portfolio of rental properties you're best off letting a real esate manage them