/biz/ - Business & Finance

[Anonymous No.13520282]

If i buy a house around 400k am i set for life? My only expenses would be internet, utilities and groceries. I'm not a materialist or an entrepreneur. I'm a minimalist and i think buying a house in a nice area would complete my life in a way.

What do you think?

On a side note, when i will be a millionaire with xrp?

[Anonymous No.13520294]

>>13520282
And taxes and maintenance and insurance and never

[Anonymous No.13520296]

>>13520282
>On a side note, when i will be a millionaire with xrp?
Oh no oh no OH NO NO NO NO

[Anonymous No.13520319]

>My only expenses would be internet, utilities and groceries
>own house

AHAHAHAHAHAHAHAHAHAHAHAHAHAHA

With a house you will either be spending money on regular maintenance or saving money for when expensive shit like a roof or appliances needs to be replaced.

[Anonymous No.13520339]

>rent a house
>pay rent
>buy a house
>pay taxes
you're fucked either way desu

[Anonymous No.13520366]

>>13520294
>>13520319
So buying a house is not a good life investment?
>>13520339
what fuckin taxes man? do you mean a year property tax? What fuckin taxes???????!!!!

[Anonymous No.13520398]

>>13520366
Depends on the specific circumstances, but why would you think that there’d be even a remote possibility that you’d be “set for life” by buying a house?

[Anonymous No.13520407]

>>13520366
yearly*

[Anonymous No.13520424]

>>13520282
like bitch have you ever thought that perhaps your false-ego will rise again in another life? like you will literally be conceived in an uterus again? house means nothing. you dont need money to make it. you need internal comfy

[Anonymous No.13520425]

>>13520282
U only need 2000 xpr to become a millionaire

[Anonymous No.13520431]

>>13520282
secondly xrp willnever moon if you found biz you should trust us and unironically go all in chainlink before timo buys back in. lurk more. ripple is shit bro. get over it. minimalism is not xrp. xrp is not a minimalist coin. you should study buddhism and taoism and jainism and stop crying ok

[Anonymous No.13520432]

>>13520398
cause if i buy a house fully paid off, i would never have to deal with roommates or shitty apartments.

If i bought a house in a quiet area, it just would give me peace of mind.

Why wouldn't it set me for life? What are cons besides property taxes

[Anonymous No.13520436]

>>13520282
Need details. Where do you plan to buy this $400k house? When?

You can use Zillow for the first part.

[Anonymous No.13520447]

>>13520424
this hits way too fuckin hard. Fuck man im so confused. Im so lost.

[Anonymous No.13520464]

>>13520432
It should be a 100k house on 300k worth of land. The only downside is maintenance, which can get expensive, but still cheaper and less of a headache than renting imo

[Anonymous No.13520465]

>>13520436
>Where do you plan to buy this $400k house?
Alberta

>When?
Whenever xrp moons but idk anymore.

This anon broke me down to my core>>13520424

[Anonymous No.13520539]

>>13520465
K, so $3,500 a year plus 1.5% in maintenance since it's bumfuck nowhere and you've got freeze/thaw cycles ($400k * 1.5 = $6,000).

You need investments to generate $9,500 a year on top of your food/utility/hentai budget. Call that another $300k in investments, plus your budget.

[Anonymous No.13520560]

>>13520465
no no bro. ni hao. all is ok.
follow the way of the TAO
lurk more
Invest in chainlink, because we really are in this allll together.

XRP is a jewscam. what fruits brings revolution if you literally invest in a centralised shitcoin?
I told you this to remember you that the truest moment to set yourself in chadness is to be independent, happy in win or loss altogether, and realise you are richer than pajeets. you can make your money 70fold but your faith needs to grow strong. XRP means GREED

XRP MEANS GREED

XRP MEANS GREED

[Anonymous No.13520562]

ownership means youre locking up your capital in a boomer bag which is a horrible roi

[Anonymous No.13520570]

>>13520560
ok nevermind. You're a retard. I need to buy a house and invest more in xrp.

go fuckurself

[Anonymous No.13520574]

>>13520465
you should break the feedback loop of karma and the abitudinary rituals of yours you should bin. it means that you should not remain onto depressive thoughts but understand that I'm simply drunk and we all are alone. you are not alone-alone. we all are alone and can count on ourselves. to agree to feel bad is worthy of feeling bad.

Instead you should master your mind and intellect, and focus and skills, to tame yourself. first the mind, then the investment. fuck off.

[Anonymous No.13520585]

>millionaire with xrp
never, it's a 41 billion supply kike scam coin that after 7+ years has no adoption and is never replacing or working with SWIFT, unlike ChainLink.

>7+ years
>no adoption
>2 real partnerships only with Amex and Moneygram
>#3 MC
>$.30c
lmao jesus christ xrp holders are objectively subhuman niggers, the only people who think this shitcoin is going anywhere.

[Anonymous No.13520590]

>>13520570
the team is dumping in your face and your are so new that you dont evej realize it

iexec RLC launches v3 in 15 may
chainlink is a far better bet. Im retard because I speak the truth but you are so deluded that watch youtube videos about xrp bhhahahahah... man dont even test my evliness becayse im here to help you

fucking fllow the wallets man ripple team is dumping in your face and in 2020 will be worse. you are not late adopter in xrp, you are a laggard. you are on a pair with unironical indian taxists who all with to have 500$ per xrp


it means greed. know your fucking self! you want to be a multi milionarie hahah!!!!!!!!!!!!!!!!!! so you will reap nothing

[Anonymous No.13520600]

>>13520574
karma doesn't exist
religion is mind control
god is the greatest lie invented by man
fuck the vedas and upanishads etc etc
fuck philosophy etc etc etc

did i cover everything hindu retard?

[Anonymous No.13520633]

>>13520600
>karma does not exist

is still continuosly unable to stop suffering


COPE

>anyway you are not the first. your xrp will be gone in a month. lurk more. go check the archives. everynow and then arrive one like you. you are not the first nor the last, im just drunk and you should worship me for telling you to COME ONTO THE LIGHT and sell your bloody bags of NPC xrp . greedy stuoid xrp holder go back to rebdit

[Anonymous No.13520643]

>>13520600
you will sell that bad pajeet tier investment you made thinkin to be hot shit when ranjesh in mumbai owns more xrp than you because hes a greedy bastard

my tips:
-ethereum
-bitcoin
-xrp

you have to be heavily retarded like a religous person like you say, to hold xrp. medice, cura te ipsum!

[Anonymous No.13520652]

>>13520643
sorry I meant to say chainlink, not fucking xrp.

maybe holochain.. ok?

[Anonymous No.13520659]

>>13520633
okay man. I'll let you convince me only if you tell me if you know the origins of the human race.

Do you go with evolution or creation? Which one is it? is it both? how so? explain.

Only then, i will listen to you. I will buy chainlink

[Anonymous No.13520667]

>>13520585
all he says was to help, he said chainlink. you dont know your priviledge

[Anonymous No.13520681]

>>13520282
Very few people make money off their personal home purchases. Buy a multifamily home and rent out part of it if you are willing to put up with the bs and you'll see a return.

[Anonymous No.13520683]

>>13520282
>xrp
oh look its retarded

[Anonymous No.13520684]

>>13520659
its obvisouly evolution

hint: the only religion I spare is jainism (gandhi) and it denies the creator

in jainobudhism, god = bad, lie

lies.

keep 2000, 3000 xrp
i dont want you to suffer

but buy other suicide insurance bags

eth will moon before xrp

keep just a mature, manly, righteous stack of xrp. dont follow meme amounts.. in a two billion dollar market, my profit is your DELIVERANCE

I said all out of love. :)

[Anonymous No.13520699]

>>13520282
Buying a house now is like buying BTC at 20k but on a much longer timescale. You are legitimately buying boomers pumped bags, have you learned nothing from crypto.

[Anonymous No.13520712]

the creator is an evil justification because he forgives. in nature, nothing forgives. nature is what there is, and religious people who believe in God, hate nature. xrp team is dumping. xrp team will dump in 2019 and 2020 and the token sold a lot and its against cryptocurrency

if you really wanna bet against crytpo, invest in holochain, smart contracts and eventually hasgraph. DCA your BTC before the golden bullrun. BTC 100K. xrp i dont know. just keep 3000 friend.

[Anonymous No.13520723]

>>13520699
checked. anon, dca bitcoin ethereum. bitcoin. look you are bleeding satoshi man. sell.

[Anonymous No.13520729]

Alberta real estate market looks pretty good right now compared to 10 years ago but could still see more downside.

You won't be set for life but you will have more cash flow by not paying a mortgage or rent. Rent a room out and see more cash flow. Build a legal suite and you can get $1000 a month in rent.

Property taxes are minimal like 3000-4000 a year on a 400k place depending on where it is. That's like 250-350 a month rather than 1200 rent.

If you buy a new home you won't see many maintenance costs for about 10 years.

37 year old Boomer here. Owned 3 houses in Alberta BC by time I was 25.

In process of liquidating all but my personal residence so I can buy more Bitcoin here. I will rebuy real estate at top of next bubble.

Good luck Anon.

[Anonymous No.13520748]

>>13520684
HAHAHA WRONG
aliens genetically created us and sped our evolution.

Also i don't have a lot of xrp anyways.

[Anonymous No.13520769]

>>13520424
why not just go homeless then, you can meditate all day on the streets

[Anonymous No.13520780]

>>13520282
>>13520366
>>13520465
Kek this entire thread made my day, I’m glad there are people more retarded than me on this planet, it truly means I’m going to make it

[Anonymous No.13520800]

>>13520729
where's the best place to buy a house in Canada?

[Anonymous No.13520806]

>>13520366
Some places dont have a property tax i think

[Anonymous No.13520811]

>>13520780
>knowing a bunch of facts makes me smart

dude, i never lost money. My only investment was xrp. There are fags on here that invested but didn't sell. There are fags on here with 50k+ debt. Im not retarded, i could have googled all this shit but whats the point? I wanna have a conversation instead of soulless google searches.

[Anonymous No.13520844]

>>13520769
why not? internal comfy is what matters most and I already made it. I am internal comfy even in houses. thanks for the tip.

[Anonymous No.13520853]

>>13520844
hypothetical
if you're truly internally comfy then it wouldn't matter if you're in a house or on the street

[Anonymous No.13520911]

>>13520590

you type like a pajeet

[Anonymous No.13521118]

>>13520800
I'm not too sure right now desu. I wouldn't touch BC or Toronto. Alberta has tons of value if pipeline ever gets built and oil price rockets back but that's a big if.

I'd be weary about buying any real estate right now in Canada USA before a global financial crisis.

I honestly haven't researched enough to really make a suggestion outside of Alberta.

[Anonymous No.13521142]

>>13521118
where in Alberta would you recommend?

[Anonymous No.13521341]

>>13520800
The Maritimes assuming you don’t need something as banal as regular employment

[Anonymous No.13521347]

>>13520282
lol and property tax, fail to pay that and they take your house

[Anonymous No.13521409]

>>13521142
Edmonton has more value than Calgary currently but either would be a good bet. Calgary always seems to lead Edmonton in an uptrending market. Edmonton leads Calgary in a downtrend.

[Anonymous No.13521422]

>>13520806
Here in New Jersey it's like 8k per year.

[Anonymous No.13521722]

>>13520282

Read house as horse and was very confused.

[Anonymous No.13522003]

>>13521347
is this common in north america?

[Anonymous No.13522148]

>>13521422

That can't be right, it would be almost cheaper just to rent?

[Anonymous No.13522246]

>>13522148
Now you get the picture.

[Anonymous No.13522305]

>>13521422
>>13522148
8k is actually very cheap for NJ

Most family-sized houses are 10k+ and many are 15k+ and mcmansions are usually 20k+ just for fucking taxes.

>>13522246
And that's for a shitty house in the ghetto

Now try running that calculator for a 600k house in Bergen or Morris or the nicer parts of Essex

[Anonymous No.13522317]

>>13522305
There are some nice parts of Trenton. I live in Ocean county with my parents and they pay roughly 8k.

[Anonymous No.13523193]

>>13522003
What? Paying property tax? Or delinquents getting their house foreclosed on?

I can't think of anywhere in the US or Canada where that isn't the case.

[Anonymous No.13523326]

>>13522305
>>13522148
How do you niggers not understand that when i charge you rent, you are covering costs, including taxes. Principle, interest, taxes, insurance, otherwise known as PITI, is what you losers pay in rent. Plus some to cover maintenance, management, unexpected costs, and, of course, cashflow (in most of my cases). Realizing that you are in an expensive area (in terms of property taxes) and not realizing that you are covering that shit in your monthly rent check is absolutely mind blowing to me.
t. RE investor and PMC owner.

[Anonymous No.13523337]

>>13522246
i think i meant to add you to this >>13523326

[Anonymous No.13523378]

>>13520282
>minimalist
>400k house
pick 1

[Anonymous No.13523388]

>>13523326
>t. brainlet that doesn't understand some areas charge rent significantly less than cost of mortgage+taxes+maintenance

[Anonymous No.13523411]

>>13523326
Well yeah, no fucking shit. Obviously nobody buys rental property not to make money on it.

That doesn't mean I'm not paying less renting than I would be owning.

[Anonymous No.13523425]

>Buying a shitty home when you could just Van NEET

Cope and pathetic

[Anonymous No.13523431]

>>13523388
t. renter and brainlet that doesn't understand that what he (or possibly she) outlined is a non-profitable business model. or that the vast majority of people in the REI game have those costs covered by monthly rental income. we can keep arguing, but i am a professional and you are not. I am open to answering other questions anons may have, however.

[Anonymous No.13523446]

>>13522317
Sometimes I forget that South Jersey is basically a different state. 8k property taxes on a decent sized house up here would be a steal

[Anonymous No.13523544]

>>13523431
>t. renter and brainlet that doesn't understand that what he (or possibly she) outlined is a non-profitable business model
kek yet people are still doing it because muh "rent is throwing money away" culture
>or that the vast majority of people in the REI game have those costs covered by monthly rental income
not in my area, saying it applies everywhere is retarded
>but i am a professional and you are not
"It is difficult to get a man to understand something, when his salary depends upon his not understanding it"

[Anonymous No.13523551]

I bought a minimalist house about 4 years ago and I don't consider myself set for life. Some things I've found that disturb my inner coze are shitty neighbors, ant invasions, and rotting wood / termite damage. Keeps me very busy but becomes tiresome in between work

[Anonymous No.13523670]

>>13523544
>kek yet people are still doing it because muh "rent is throwing money away" culture
still doing what? i lost you here. it seems as if you are talking about both property owners and renters simultaneously.
>not in my area, saying it applies everywhere is retarded
i didn't say it applies everywhere. i said vast majority, you even quoted it. your statement here kind of "answers your own question", if you will. also, exception proves the rule, etc. i also highly doubt that the majority of investors in your area are renting under cost. maybe some, sure, but i'll bet you .5btc that it is under 50%. you game?
>"It is difficult to get a man to understand something, when his salary depends upon his not understanding it"
i feel to see how this is relevant here.
overall, this is the worst cope i have ever seen on /biz/. any other questions? i'd be happy to tell you how to successfully buy and rent out half of a duplex.

[Anonymous No.13523769]

>>13520424
yeah, but what if you're full of shit? Making assumptions with absolutely no reason to do so is kind of retarded. You're right that contentedness is better than even financial security. You can easily have both though, and the latter can contribute to the former

>>13520366
A house is a good investment. It just isn't necessarily one that is going to appreciate faster than the expenses pile up. But then again it's somewhere to live. If you want to buy a house AND make money then take out a mortgage with a low rate (even if you can buy it outright) and invest in something that will reliably have greater returns. You get the equity as well as whatever investment income isn't needed for mortgage payments. Buying anything outright when you have access to low interest rates is retarded unless you have a really low tolerance for risk. Just make sure you have enough assets that you're not gonna be fucked if there is a recession or something. If you want to you could even take out more loans with the equity you've accumulated after a few years, though I wouldn't personally do that

[Anonymous No.13524176]

>>13523670
>still doing what? i lost you here. it seems as if you are talking about both property owners and renters simultaneously.
im talking about people following said "non-profitable business model".
they buy places and rent them out to other people because they think renting is throwing money away
>i didn't say it applies everywhere. i said vast majority, you even quoted it.
your first comment was directed at everyone but fair enough
i'm not convinced the vast majority are profitable when I look at all the cities around me where renting is less than buying.
> i also highly doubt that the majority of investors in your area are renting under cost.
i don't know about their current cost but if you compare buying now vs renting, renting is the better option in my surrounding area. 5 years ago it was certainly better to buy and those people are making a killing.
>i feel to see how this is relevant here.
you're a real estate investor. it's in your interest for real estate to have a high value, so anything that encourages renting (such as areas where renting is less than buying), you push the idea that that's not the case for the vast majority and that buying is almost always better.
did i spell it out well enough for you?
>overall, this is the worst cope i have ever seen on /biz/.
coping with what? kek i can afford to buy a place but it's a shit financial decision and it would mean commuting 4x as far from a cuckshack
> i'd be happy to tell you how to successfully buy and rent out half of a duplex.
as far as i can find, if i bought the cheapest shit tier home, spent weeks and tens of thousands renovating it into a usable duplex, found a good tenant that rents all year round, i'd break even with my monthly rent payment.
but with renting i can move whenever i want and i don't have to deal with maintenance, and that's not even counting the opportunity cost i'd lose from the down payment

[Anonymous No.13524247]

>>13523326
the difference is that your renters have their capital in potentially better ROI, you think you're winning because you're skimming a few hundred dollars of profit every month and that is true, but now their downpayment is in shit that might 5x or 10x so you don't know who is really winning until this shit pans out but they have the better bet

yes, most renters have zero capital and live paycheck to paycheck because they're poor and stupid fucks, but then you're comparing apples to oranges, you have to compare a rich renter to a rich homeowner to really get the idea of how the renter can easily be better off by not buying the literal real estate bubble and tanking massive capital depreciation in the future

[Anonymous No.13524483]

>>13524176
>5 years ago it was certainly better to buy and those people are making a killing.
good point. now lets look at the set of all investors who bought 5+ years ago versus the set of all investors who bought within the last five years. which set do you think has a greater population?
>it's in your interest for real estate to have a high value,
I'm a cash buyer buying distressed properties in B-A+ neighborhoods. my interest is in cheap and often times unlisted real estate. cost is less an issue that you may think. absolute cost of a property is one thing, but many other factors come into play. it makes literally no difference for me to have 9% cap rate in a $120k unit versus the same cap rate (9%) in a $360k unit. opportunity cost would be a good point to argue here.
>so anything that encourages renting (such as areas where renting is less than buying), you push the idea that that's not the case for the vast majority and that buying is almost always better.
it's in my interest to have tenants occupy units and cover all my costs (as well as cashflow). you think i'm psyoping some idea here so my real estate gains value over the years (kek like /biz/lets will increase my property value), but the reverse is the reality. i need renters to pay the bills.
also, buying is almost always better than renting.
>did i spell it out well enough for you?
no need to take that tone, especially considering your lack of understanding on the topic.
> i'd break even with my monthly rent payment.
like this is a bad thing. enjoy your free equity.
>that's not even counting the opportunity cost i'd lose from the down payment
FHA 3.5 down, owner finance agreement with no down payment, the list goes on. again, i am a professional and you are involved in a discussion about an industry that you are not well versed in.

[Anonymous No.13524678]

>>13524483
>now lets look at the set of all investors who bought 5+ years ago versus the set of all investors who bought within the last five years. which set do you think has a greater population?
we're evaluating whether someone should buy or rent today, not how many investors are making money when the financials made more sense years ago
>also, buying is almost always better than renting.
except when it's not
>like this is a bad thing. enjoy your free equity.
>free
kek
like spending tens of thousands on a down payment and renovations is free money and has no opportunity cost
like you couldn't make a better return spending those hundreds of hours of work starting a side business or a second job instead
like maintaining property doesn't take any time or have any cost
like finding tenants doesn't take time
like having a bad tenant that stops paying won't leave you screwed over for months/years
>FHA 3.5 down, owner finance agreement with no down payment, the list goes on.
yea just pay more interest like a good goy, hope interest rates never start rising and hope you never have any emergencies while your cashflow is fucked
>again, i am a professional and you are involved in a discussion about an industry that you are not well versed in.
your appeal to authority might find better traction on leddit faggot

[Anonymous No.13525582]

>>13520465
>Whenever xrp moons but idk anymore

[Anonymous No.13525589]

Buy a cheap house in kentucky

[Anonymous No.13525599]

>>13520282

> not living in a shed in someone's backyard in exchange for gardening.

[Anonymous No.13526759]

>>13525599
wtfff

[Anonymous No.13527065]

>>13520574
this shitpost is of exceptional quality

[Anonymous No.13527069]

I inherited a 2 story house with 4k/year taxes. Is this normal/good/bad? Also, how much do bills typically cost per month for a single person living in a 2 story house? Will it be very cheap if I barely use any water/electricity?

[Anonymous No.13527075]

>>13520282
>set for life?
dunno about that, but what i can absolutely guarantee you is that owning a place outright makes a FUCKHUGE difference to your quality of life generally. no more terror that you can't make the rent, and a walloping great cut in your monthly outgoings. plus you can rent out rooms, make any alterations you choose, and so on and so on. Thankyou XDN >>13526594

[Anonymous No.13527088]

>>13520748
How can you be this woke about history but not about god or chainlink
I’ll spoonfeed you for the former, the rest is up to you

[Anonymous No.13527429]

>>13520339
Houses can appreciate, if you live there for 25 years you’ll at least beat inflation.

[Anonymous No.13528140]

>>13520806
only like indian point in new york, because theres a nuclear power plant with a .00001 chance of going chernobyl when a diversity hire fucks up the fuel

[Anonymous No.13528750]

glad this thread is still alive.
>>13524678
>not how many investors are making money when the financials made more sense years ago
well, we were arguing about whether or not the majority of investors turn a profit in your area, and given the population of the two sets compared, it is likely that I am correct. you did not address this.
>except when it's not
nobody here is arguing that. of course not jumping into a bad investment is better than jumping into a bad investment. we are not here to discuss tautologies.
>kek
like spending tens of thousands on a down payment and renovations is free money and has no opportunity cost
like you couldn't make a better return spending those hundreds of hours of work starting a side business or a second job instead
like maintaining property doesn't take any time or have any cost
like finding tenants doesn't take time
like having a bad tenant that stops paying won't leave you screwed over for months/years
kek this mess
low or no down payment, as i stated previously. many properties are turn key and require little to no renovations. i'm glad to see you picked up on the opportunity cost argument, which will need to be addressed on a case by case basis per investor and property.
>hundreds of hours of work
you know how i know you have no idea what you are talking about? speaking of opportunity costs, you also have the option to outsource all work through contractors and subs. feel free to spend your day on your side business or shitty second job.
property management. yes, there is a cost (which is priced in for most investors), but many operations do a good job and all you do is collect a check every month. believe me, i own and operate a property management company. ironically, it started as a side business and has grown immensely. your two points about finding tenants and making sure they are good tenants have been addressed in the previous sentences.

[Anonymous No.13528779]

>>13523431
how do I into real estate?

[Anonymous No.13528873]

>>13524678
>yea just pay more interest like a good goy, hope interest rates never start rising and hope you never have any emergencies while your cashflow is fucked
yes, just keep renting like a good goy. your appeal to jews something something reddit faggot.
>your appeal to authority might find better traction on leddit faggot
why have you been such a seething little faggot this entire conversation? i've avoided calling you a nigger faggot this entire time (except for my first post, i guess), but you keep pushing me. you clearly do not know the industry, you don't know dick about rehabbing a property or probably any manual labor. you keep talking about side business and opportunity costs but all you do is bitch to me in this thread. what do you actually do for a living? what is your side business (and why isn't it your main business)? assuming you have enough cash for a down payment on a turn key, cash flowing income/investment property, what will you spend it on instead that will bring you back safer and better returns? you seem to think it's impossible and impractical for most to invest, when the reality is that it's literally the quickest route for some norman to become a millionaire. you seem to think that hundreds of hours and tens of thousands of dollars are required to buy a fucking duplex, and that renting is always a better option (again, it's not, even though it is on occasion). are you trying to psyop us here? are you actually this oblivious? perhaps you are a failed investor? did some contractor fuck you in the ass and you got rekt your first time out?
you are like a little baby. i hope many anons read through this thread and realize just how wrong you are on nearly every point.
still open to taking questions about real estate investing, house hacking, rehabs and flips, whatever.

[Anonymous No.13528982]

>>13528779
what would you like to know? the best way to jump in for somebody that doesn't have a ton of cash on hand is to have a credit score above 580, secure FHA loan with 3.5% down, and buy a duplex. you will live there for at least two years, self manage, get yourself a good tenant, and make sure that their monthly rent covers your PITI. now, some issues are likely to arise, as is always the case with home ownership. luckily, you live for free because you have a tenant paying your nut, so if you need to replace a hot water heater or have a month of vacancy in the rental unit you can cover that shit, no problems. ideally you know how to do many repairs and light remodeling yourself. it's never been easier for somebody to learn light electrical or light plumbing on their own. if you can't you find the best contractor/handyman you can. you befriend this person and it will be one of the most fruitful relationships you ever have, assuming you progress as an investor. go to the best realtors in your area and ask who they use as a contractor. realtors always have somebody skilled, reliable, and cost effective as they employ somebody like that to close on a property. it is in their (the realtors) best interest to have somebody that gets the job done right at a fair price, so go ask them.
but before you do this you go to listen to the biggerpockets podcast. you familiarize yourself with their forums and whatnot, and you successfully achieve a good understanding about what your endeavor entails (unlike the massive faggot i have been arguing with for almost 24 hours). you read any of the many good books on real estate investing, and avoid the shit ones entirely.
what else?

[Anonymous No.13529152]

>>13523670
>i'd be happy to tell you how to successfully buy and rent out half of a duplex.
Please do explain fren, I really want to buy a rental property after the next bullrun if I make enough coin. Also how do you figure home ownership beats renting if you aren’t getting jew’d 6 figures in interest and paying for-maintenance and your time on upkeep? I want a house and have enough money for a down payment but I feel like a retard buying boomer bags at the top, though these low interest rates are tempting.

[Anonymous No.13529181]

>>13528982
literally want to know how to start. how do I decide what to buy? and where? how do I do research into that & what should I be looking for?
never took a loan, how much down payment do I need, let's say for a 400k house?
I was already thinking of buying a duplex and renting out the other unit, or even renting out both and live with my parents. what books should I read and which should I avoid?

[Anonymous No.13529283]

>>13529152
see post above. seriously, bigger pockets podcasts/forums are currently your best resource. low rates are good, but you are kind of right about buying boomer bags at the top. luckily for you, you don't have to do this. go after unlisted, foreclosure, auction properties; write letters and make offers to people. see a duplex you like while driving around one sunday afternoon? write them what is known as a "yellow letter". be polite, concise, make an offer and suggest terms, be open to a counteroffer. two worst case scenarios are that they do not respond or they respond with a no. so what, on to the next one.
>Also how do you figure home ownership beats renting
discussed in this thread previously. chances are, if you a renting in a 4-unit complex (aka 4-plex) or smaller (including a single family home) you are paying that note already. In the case of a 4-plex, 50% occupancy can essentially cover all costs if the numbers are right.
YOU ARE ALMOST CERTAINLY COVERING ALL COSTS IF YOU RENT A SINGLE FAMILY HOME
i cannot stress this enough. if you rent a $500 cuckshed studio in a 36 unit building, you alone are not covering costs. some people in this thread may be retarded enough to think that is the argument i am making.
property management comes in all shapes and sizes. the established companies with a proven track record (returns, costs, occupancy rates, etc.) are the investors friend. you will typically not pay more than 10% of monthly income (that rent check) on professional property management.

[Anonymous No.13529295]

>>13529152
>>13529181
i am selective about my clients and i offer personalized services that other management companies typically do not (or can not) provide. i wholesale to clients, i sell leads to clients, i represent clients at auction after scouting properties for them. i have befriended my clients, and they are successful investors. i've played a major role in growing some of their portfolios. good management, like a good contractor, can be one of the most fruitful relationships a budding investor can make.

[Anonymous No.13529388]

>>13529295
meant for >>13529152
>>13529181
this is shit you need to figure out dude. i do not know where you are, and you didn't say. nor do i know your credit, your employment, income, cash on hand, etc.
as i've stated elsewhere: thebiggerpockets podcast and forums are your best starting points. you will find tons of book recommendations there. disclaimer: i have absolutely no affiliation with BP. i'm just a casual listener, though i will keep mentioning them if people keep asking.
you can essentially have as little or large downpayment as you want. traditional is 20%, FHA (assuming you're in the US) is 3.5%. i am currently negotiating an owner finance agreement with 0% down. I have literally seen people pay $300k cash for houses, putting 100% down.

[Anonymous No.13529436]

>>13529388
I guess my biggest fear is buying a property and failing to find tenants. I live in Canada and I just checked and minimum down payment is 5% for houses 500k and under. I have a little over 100k CAD and I trade crypto for a living (kek)

[Anonymous No.13529496]

>>13523326

What you say is the ideal for the landlord, and in many cases it's true. But just because you WANT to charge that much rent to cover all those things + profit doesn't mean you can. In Canada, many landlords are losing money on rent each month but they do it anyways because getting SOME rent is better than having it sit vacant and getting nothing, and they are gigaboomers who are betting on huge appreciation each year (which has happened in the past decade but is now crashing down). Of course Canada is the biggest meme bubble so your area may be safer for the landlords but you get the point.

[Anonymous No.13529787]

>>13529283
Thanks fren I will look into this