How To Grow My Money For A House

[Anonymous No.13981479]

Hi /biz/

I have a bit of a dilemma.
>Have some savings to the tune of £50,000
>28 years old
>Parents are in their mid-50s
>Have recently bought a sizeable manor house here in England
>Pic similar but not the place
>Property prices are rising here
>They are looking to retire and will likely sell the house in 10 to 15 years
>If they keep it me and siblings will inheret 25% of the property each
>Want to buy out my sibling/my parents when they sell
>Need to turn my savings into something substantial enough to buy

What does /biz/ advise? Stocks? Crypto? My own properties for rental that will also grow in value? Become a loan shark with my savings as starting capital?

[Anonymous No.13981507]

Kneepads

[Anonymous No.13981508]

>>13981479

האם אתה אחד העם הנבחר?

[Anonymous No.13981602]

>>13981507
lol wut?

>>13981508
advice from a jew?! now that's what I need. Now just to go to google translate...

No i'm not, it sounds like I am jewing my sibling, but they are all brainlets. One will literally let his fucking partner roll in and turn the place into their personal holiday home, all the while pretending we are welcome to use the house, but will mysteriously have made plans for every single weekend that the place is free. The other will likely sell it for a better gaming PC or let it fall apart. The last one is alright actually, but she is heading for university and could get a free ride and a head start in life if she wants with that moeny.

[Anonymous No.13981674]

>>13981602
Newfag

[Anonymous No.13981730]

>>13981674
for not knowingabout kneepads? why don't you just give an answer rather than clinging to your pathetic inside jokes.

[Anonymous No.13981763]

>>13981730
Why don't you hire a financial adviser instead of expecting people to just jump at the chance to help you for free? Ever considered no one gives a single fuck about your pathetic life or problems? Try Reddit, you cunt

[Anonymous No.13981910]

>>13981763
kek, then fuck off out of the thread if you don't want to be part of the conversation. screeching manlet.

[Anonymous No.13981997]

>>13981910
Seething projecting manlet gimp
This isn't your personal request page
Fuck off to reddit

[Anonymous No.13982007]

>>13981997
and this aint your personal board, so fuck off to another thread.

[Anonymous No.13982338]

bump

[Anonymous No.13982383]

Speculate on assets and currencies with wealth-retaining properties, convert them into real estate as real estate becomes less monetized via rent seeking behavior.

[Anonymous No.13982579]

>>13981479
wanting a big ass house in this economy. lol

[Anonymous No.13982611]

>>13981479
truth? they should reverse morgage. cut you out of inheritance and retire while draining the value of the house, with you getting less every paycheck they get from the bank.

[Anonymous No.13982681]

>>13982579
it's an off the grid country manor and really isn't that expensive. It is built with stone and has old school fittings that last forever. The power is (soon to be) wind, the heating is on sight gas and the free electric, the water is provided by a bore hole. The only expense is tax really. It's in a good spot too so I could AirBnB it for walking/hiking holidays.

>>13982611
>>13982611
Don't know much about how reverse mortgages work, but sounds like a typical boomer move for them to make. They won't though, they want to leave it to us.

[Anonymous No.13982703]

Can you even afford the council tax on a house like this? Have you considered inheritance tax? Each parent gets 325k allowance each and since they'll be giving the house to direct descendants they'll get another 100k allowance each. That is 850k allowance. If the market value of the property is more than that when your last parent carks it you'll pay 40% iht on anything over that threshold which will be due 6 months after death

[Anonymous No.13982733]

>>13982681
the problem with large houses is maintenance.

[Anonymous No.13982738]

>>13981479
Don't 'buy' a house! You can't EVER own a house! also the faggots that get a loan & tell ppl i paid 100k for this are LIARS, they will pay 200k by the time its paid off!
Also we are the literal peak!

If you can't afford something cash then you cant afford it!

[Anonymous No.13982755]

>>13982738
Oh yeah let's just rent a place because that isn't dead money

[Anonymous No.13982776]

Open and max your roth ira contributions. Once the account is 5 years old, you can use the earnings for your home up to some amount to the tune of 10k. I'm not sure if that will necessarily help you out, but if you are looking for a way to minimize the tax cut off your earnings, then this is pretty much free earnings, as you only end up paying taxes on putting it in. Look at the returns for VTI and VOO over five years and ask yourself if that's enough to make it. You should be aware that stock trading and out playing mutual funds and etfs is really hard and you need to trade for a few years before that.
I would not rely on crypto to try and make big fat gains. Yes, you can, but I wouldn't wager it all like that if you have a goal in mind. So here is my advice:
>max out your roth ira account and set it up for a total market income: some 10 percent increase a year I believe.
>put 2-3k into crypto trading and see if you can learn the ropes, and then slowly dca after a year or so
>put the remainder into some kind of mutual fund like your ira and other shit while you plan out other ways to make more money

If you try to chase big 400 peecent returns, you will lose it all.

[Anonymous No.13982926]

>>13982755
Better than wasting capital a something that has reached the top of its value & you end up payin twice the agreed price!
House prices can't go higher! In Denmark they are giving out negative interest mortgages just to pump more fiat into the system!

Oh & you lose your freedom to the kikes in the process.

Hope they don't call in your mortgage!
Stop listening to your boomer parents & pull out a spreadsheet! The down payment for my folks house is worth 3x the value of whole the house just left on the DJIA!

[Anonymous No.13982951]

>>13982926
>DJIA
Actually it was the S&P500

[Anonymous No.13982991]

>>13982926
So where the fuck are you going to live? In your car or with your parents?

[Anonymous No.13982998]

>>13982755
Put the down payment into other assets and you will outpace a homeowner's return on their equity.

[Anonymous No.13983139]

>>13982703
we have considered. A sale p2p is not subject to that and the fact that an inheretance between 4 people should also rule it out as it is 325K per person, not the value of the whole property. You can have a house worth 1 million and if you split it between 100 inheretors, you are fine.

Should be able to afford the council tax, it is not as high as one might expect. Also the land with it could be classed as a working farm (it has 4 acres) which makes it void for tax. This is a detail down the line I will lookinto though, as I could simply buy and sell it if the council tax is too high.

>>13982733
I appreciate that but it is now being renovated and all the housekeeping that has been neglected is being done. Within a few years, it'll be like new.

>>13982738
where did I menation getting it mortgaged? I specifically said I wanted to BUY out family for it.

>>13982776
>roth ira
I am british, we don't have those here iirc. I don't know if the rest of your post is also non applicable. I appreciat ethe effort though and will take the general spirit of the advice.

[Anonymous No.13983205]

>>13983139
Well don't bother you're gonna need your house loicense then, m8.

Memes aside though, look around and see if a tax advantaged investment or retirement account exists in your country. Either way, I believe you should still be able to buy into American and global stock market index funds and etfs. It's not necessarily the biggest grower, but that'll grow pretty well regardless. I agree though that maybe you shouldn't buy the house unless you are super attached to it. Just my two cents, but as the boomers die, real estate is gonna tank imho.

[Anonymous No.13983237]

>>13983205
>attached
Unfortunately, I rather am. I helped to get it renovated a bit and love the spot. I can see my kids growing up there. This is really the only reason i am trying g to turn 50K into 750K. Wouldn't put my self under such stress to afford it otherwise. But I appreciate the advice and will look into it.

[Anonymous No.13983266]

>>13981479
>England

just get out while you can

[Anonymous No.13983272]

>>13981479

now that is a fucking house. don't forget your lost lost cousins from 'merica

[Anonymous No.13983293]

>>13983237
Rough. Your better investment then is gonna be to sweet talk your family members then to try and get a better deal on it. Joint ownership would be a rough thing, but maybe you can talk them all into a monthly payment plan with low interest or something then. You're gonna have a hell of a time turning that much from 50k though. Definitely play with crypto, but I wouldn't put more than 3-4k unless you can pretty much keep your folio green for an entire year.

[Anonymous No.13983387]

>>13982991
Are you a retarded? Did you not read my post? Why don't you look @ what I said 1 more time. read it REALLY slowly so you can understand!

Just buy the top & fuck off with your boomer logic Zoomer

[Anonymous No.13983484]

>>13983266
Best advice desu

>>13983272
Haha I actually love Americans. Have a few good yankee friends and one or two solid lads from Dixie too. That isn't the house though, just something of a similar size.

[Anonymous No.13983500]

>>13983293
Oh I will be talking them down in price. But yeah, maybe a payment plan would do it. Any advice on good coins?

[Anonymous No.13983569]

>>13983500
Preface: I really don't recommend putting any large amount of money into any crypto. Don't put in anything you don't wanna lose. Generally though..
>btc is not going anywhere, so this is an ok long hold
>i also think eth, ltc, and bch will continue to rise long term, so worth a dca
>comfortable swing trading and keeping strict take profit and stop loss orders? BSV is currently going up, but is in danger of tanking
>link may have a future, but I think eth will benefit from it more than link will so you can hedge this with eth
>coinmetro I think is going to be a damn solid crypto investment. They are doing everything right, and I think can bridge the gap between a big exchange like binance and kraken, and a "holder" like Coinbase
I don't fuck too much with crypto myself. I enjoy playing with biotech options more. Make sure you start small.

Cheers

[Anonymous No.13983590]

>>13983139
You are inherently wrong with your understanding of inheritance tax. Let me explain with an example:

If my net worth is 500k of properties and cars, and I want to give that 500k to my only child when I die. When I die my estate will be valued at 500k. The beneficiaries of my estate (my one kid) will be taxed on the value of my estate at date of death. Iht due will be (500-325)*40%

If I have 4 children, my 500k estate is still worth 500k and will still be taxed exactly the same as per the first example. Tax is due on the estate assets being transferred to beneficiaries. Since your parents are married any transfers between husband and wife are at no gain no loss. The important thing to note is as soon as your last parent dies and assets gets transferred to you and your siblings, iht becomes due. The way it will work is you'll get each parents allowance of 325k each and since it's the family home being transferred they each get 100k allowance too. As mentioned before you'll have an 850k allowance. If your parents combined assets is worth more than 850k you will pay 40% iht on anything over that threshold. Also important to note the market value of assets being transferred is used at the date of death. If this house shoots up in value you're Gona have a hefty iht bill to pay.

t. Part qualified accountant

[Anonymous No.13983608]

>>13982991
Listen Zoomer I 'bought' my first house when I was 18, sold it 3 years later for more than twice the price! Great down payment on the next house...that went nowhere. Market ended up dipping & all I had left was just over my original downpayment from when I was 18! I wasted that downpayment! I used boomer logic instead of rationally lookin @ the market! Those times are LONG gone where you can double you funds! Buying a house on mortgage is just wasting capital that could be used in other investments, use those other investments so you can go buy that house cash. Your DREAM house, just rent way below your means till that day comes. Your tying yourself up for slavery!

[Anonymous No.13983619]

>>13983500
There are various tax implications for undervalued sales that aren't at arm's length. Transactions between family members are not arms length transactions. When the deeds of the property get transferred to your name they will use the market value at the date of transfer. Sweet talking your parents is the least of your worries. You should be preparing to sweet talk/bribe the people that will be valuing your property

[Anonymous No.13983884]

>>13983608
This only reads true if your rate of return on investments less the rent you pay is greater than the interest payments on a mortgage. Obviously that doesn't account for capital appreciation/depreciation of the property but it's still a ridiculously high rate of return you'd need on your investments to make it worth it financially. If you're making big bets in the stock market and making it work then fair enough, but for the average risk averse loser such as myself a mortgage is the much safer option