/biz/ - Business & Finance

[Anonymous No.26288762]

Why not load yourself down with a huge mortgage on a McMansion?

>extremely low interest rates right now
>fiat printing will make house prices go up forever and your debt gets inflated away
>the government subsidizes the land owning class by letting you deduct interest payments from your income and Biden is going to get rid of the 10k cap on SALT deductions
>primary residence is protected from lawsuits
>women get wet when they see you “own” a $1M+ house
>you can rent out rooms if you’re that kind of person and have poorfags pay your mortgage

[Anonymous No.26288836]

>>26288762
Because I don't have a job and can't get a mortgage despite being a crypt-millionaire

[Anonymous No.26288887]

>>26288762
Is that a McMansion? I thought McMansions were those cute little houses in the suburbs near colleges. Not that thing

[Anonymous No.26288900]

>>26288836

>bullshit your way in to a 6 figure job
>get approved for a 2% mortgage with 0 down
>quit job

[Anonymous No.26289126]

A few reasons:
1. Every state I move to turns to shit.
2. I like the freedom of moving every few years.
3. I don't want to deal with roastie real-estate agents.
4. My goal is to not have possessions and live in hotels when I make it. If I bought a house every room would be empty

[Anonymous No.26289232]

>>26288900
That's the plan

[Anonymous No.26289407]

>>26288900
Here you have just described the playbook for very potentially getting fucked in March 2020 lol >>26289232

Unless you have a big or make it stack of cash to cover this the whole time

[Anonymous No.26289436]

>>26288887
could be. any mass built house plan. it's definitely a higher quality one, but likely a mcmansion nonetheless.

[Anonymous No.26289829]

>>26288887
McMansions are wannabe real Mansions. They are big and made to look expensive but have bad design and made with cheap materials. Think columns made of foam instead of made of marble for example.

This explains it better
https://mcmansionhell.com/post/149284377161/mansionvsmcmansion

[Anonymous No.26289867]

Imma build a house like this though.

[Anonymous No.26289954]

>>26288762
I bought a condo at the end of 2019 ;-;
Now once everything collapses I have to baghold it for like a decade.

[Anonymous No.26290016]

>>26289954
refinance negroid.

[Anonymous No.26290075]

>>26288762
This is actually genius

[Anonymous No.26290162]

>>26289126
> buy a house
> live in it for a few years
> when you want to move, rent out the rooms to cover the mortgage and hire a property management company to deal with the tenants
> move to a new area and use the old place as collateral for a new place
> profit

[Anonymous No.26290305]

>>26289829
Some valid points about cheap materials, but i can't stand this stupid bitch and her blog. She really seethes at the idea that some people are actually 'antisocial' enough to like having a lot of space, and that you're a bad citizen if you want a big house because of muh wasteful housing. You can also really hear the naggy womanly passive aggression in all of her blog posts.

[Anonymous No.26290514]

>>26288762
>primary residence is protected from lawsuits
That's true in like Texas, but not most jurisdictions around the world
>women get wet when they see you “own” a $1M+ house
lol, you are beta bux
>you can rent out rooms if you’re that kind of person and have poorfags pay your mortgage
Friend of mind did this with two houses, said it was hell and eventually sold both of them and moved into single bedroom apartment.

[Anonymous No.26290696]

>>26289126
Agreed on all points. Instead of dealing with roasties, you should take the land pill. Land purchases are easy and quick, and require very little human interaction. It's as easy as one party signing a paper saying you own the land now and getting it notarized. No weird rules, roasties or roastie commissions needed.

[Anonymous No.26290800]

>>26288836
I have a job paying $1k a month and am getting approved for a 1m loan or so assuming I pay 20% down. I have several million in crypto and some how they are okay with me just proving it with some transactions. The interest will be a little higher like 4%~ but better than selling my eth right now.

[Anonymous No.26290817]

>>26289867
>no windows

[Anonymous No.26290834]

>>26288762
Because I live in Europoor and real estate here is fucking expensive hell even renting a small room the size of a medium sized closet costs 600 to 700 a month

[Anonymous No.26290847]

>>26290817
I live in the darkness. I also like to drink human blood. It's PERFECT.

[Anonymous No.26290867]

why haven't you taken the DEBTMAXXX pill? want to own a house? easy. just apply for a mortgage. want a new car? you're qualified, just go to a $0 down, buy here pay here lot. need a new phone? finance it. student loans? just stop paying them and let them garnish your wages, they can't garnish >25%. owe money on your debt? just get a new credit card and do a balance transfer. if corporations can perpetually refinance billions in debt, why can't you? really, if you aren't living the DEBTMAXXX lifestyle you aren't living. it's simply a matter of showing up, speaking with the loan officer, looking him in the eye, giving him a firm handshake, and telling him that you want MORE DEBT.

>ALL BANKS AND CREDITORS KNOW YOU BY NAME
>FEARED YET RESPECTED BY LOAN OFFICERS
>DEBT COLLECTORS BLOCKED IN PHONE
>STILL SCREEN EVERY CALL TO VOICEMAIL
>NEVER ANSWER THE DOOR (CAN'T GET SERVED DEBT PAPERS)
>DEBIT TO INCOME RATIO >100% BUT STILL GETTING NEW LOANS
>LEASED LUXURY CAR WITH NEGATIVE EQUITY TRADE IN
>HOUSE 6X YOUR SALARY ON 40 YEAR ARM MORTGAGE
>STARBUCKS & RESTAURANTS EVERY DAY
>ALL SUBSCRIPTION ENTERTAINMENT SERVICES
>8 CREDIT CARDS, ALL MAXXXED OUT
>NEW IPHONE EVERY 6 MONTHS, FINANCED WITH NEGATIVE EQUITY

[Anonymous No.26290900]

>>26290800
Interesting, I'll look into it more.
>>26290305
Same, she seems like a real bitch. Pretty sure she's a socialist or something too, which is more annoying considering how classist she acts.

[Anonymous No.26290918]

>>26290800
>>26288836
Have you “crypto millionaires” actually been able to cash out? Or is your internet funny money stuck behind a screen forever?

[Anonymous No.26290946]

>>26288900
How do you even bullshit your way into a SIX figures job. Thats the kind of job people spend years studying for. You cant bs ur way to that

[Anonymous No.26290954]

>>26288836

I started a business and was making 10k a month profit and had the entire amount of money i wanted to borrow in cash in my bank account. However I had only one year of business history so they wouldn’t give me the money.

Clown world.

[Anonymous No.26290966]

>>26290867
Based

[Anonymous No.26290970]

>>26290867
i kekd then cringed. There are people that unironically live like this.

[Anonymous No.26290995]

>>26290918
Yes. Cashed out enough to pay off my student loans and 200k for a down payment so far.

[Anonymous No.26291032]

>>26290946
its not hard. I managed to bs my way into one 2 years into my career, with no degree. Fake it till you make it, literally.

[Anonymous No.26291067]

>>26291032
What kind of job was it? Need some ideas.

[Anonymous No.26291069]

>>26290867
>tedkaczinskee.png

[Anonymous No.26291074]

>>26289829
Exactly this. I’m married to an architect and normie mansions are the biggest ripoff jokes around. Don’t be a loser. Even the developers building that crap laugh at it

[Anonymous No.26291075]

>>26289867
Based brutalist anon. Mind if I come over in my black turtleneck so we can talk about nihilism?

[Anonymous No.26291085]

>>26290995
Did you cash out in one big taxable lump sum or did you essentially launder the money?

[Anonymous No.26291091]

>>26290696

Roastie agents are going to get BTFO by Redfin and other tech in the next 10 years

[Anonymous No.26291092]

>>26290867

[Anonymous No.26291121]

>>26291085
I've paid all my taxes. Not cashing out a ton each year to keep the tax burden down. Still was a bitch, paid like 50k in taxes for 2018.

[Anonymous No.26291140]

>>26289232
the bankjews expect a history of at least 3 years of uninterrupted employment for a loan
or that you eat foreskins in the same synagogue as they do

[Anonymous No.26291156]

>>26290867

Clown world finance advice

[Anonymous No.26291202]

>>26291121
How did you make it? Early BTC/ETH? I’m trying to at least make enough to pay off all my debt (need about 100k, or 300k if I’m including the mortgage). I’m hoping to hop on the next altcoin rocket since BTC/ETH are too expensive and growth is too slow without a massive initial investment at this point.

[Anonymous No.26291206]

>>26290946

Google what a “project manager” does at a tech company. 22 year old roasties with anthropology degrees get paid 150k to ask incels when they’re going to merge their branch in to master and track it on a spreadsheet

[Anonymous No.26291273]

>>26290162
What's the point of owning a house at that point? Renting is better in every way except that you can't make modifications. People buy houses because of the long-term payoff. Being rich just means you have the luxury of being able to afford rent for the rest of your life.

[Anonymous No.26291312]

>>26291032
Explain, please. I am 19 and I do NOT want to live with a 40k/year job.

[Anonymous No.26291354]

>>26291202
Getting into ETH and LINK early was a big factor. In 2017 I also rode a bunch of pumps like Antshares and Raiblocks. For the last year or so I mostly just held ETH though, seemed like a safe bet it would break its old ATH.

[Anonymous No.26291416]

>>26291354
What coins would you recommend I get in on? GRT looks promising, and LINK is still relatively cheap. I just want to make six figures and get out of debt, I don’t need to make a million.

[Anonymous No.26291560]

>>26290946
>Start your own llc
>llc manages investments into cryptocurrency for one client
>You are that client
>Ceo of the llc keeps 99% of profits
>You are the ceo
It's that simple
As long as you can make six figures a year in crypto you can be a six figure earning ceo who works in the competitive field of investment management and is a self taught well respected expert in the field on economics. Banker jews love that shit.

[Anonymous No.26291591]

>>26291416
Since I've just been holding my ETH lately, I've slacked off a bit on researching new opportunities. So I don't feel good about giving people too much advice. That said, the lower caps I'm holding now are DPI, INDEX, and PNK. I think those will do well eventually, no guarantees though. GRT seems good, though I don't know much about the supply or things like that. LINK is awesome, but it's still hard wrapping my mind around the current price compared to where I first bought it.

Whatever you choose, good luck anon. We're all gonna make it.

[Anonymous No.26291622]

>>26291560
Wouldn't you have to pay additional income tax on everything that your "company" brings in?

[Anonymous No.26291626]

>>26291140
How true is this? I got money and good credit but a shit employment record.

>>26291206
I believe the roastie part but could a white male really land a job like this?

[Anonymous No.26291687]

>>26290867
Prison logic

[Anonymous No.26291762]

>>26291626
I am directly quoting a realtor from the first time home owner seminar/class that I was forced to take before they disbursed my funds to me

[Anonymous No.26291841]

>>26291202
ALGO.

Add it when you can
Stake is good
Long term potential to moon, not a pump and dump

[Anonymous No.26291878]

>>26291622
LLC income is passed through to personal returns.

[Anonymous No.26291918]

>>26291622
The company takes zero profit. 99% of the money goes to the ceo (you) and 1% goes to the client (you). The ceo would have to pay income tax and the client would have to pay capital gains tax.

[Anonymous No.26291930]

>>26288762
I don't need anything that size or any of the expenses that come with it in maintenance/upkeep, furnishing, heating/cooling, or property tax. Rather just keep my money in cryptos returning multiple 100s of % a year and live the neet life in my 750 sqft condo.

[Anonymous No.26291958]

>>26288762
Because macmansions cost 1.8 million dollars here in sydney and the average house 1million and no bank will loan you shit unless you're earning at least 100k+ a year.

[Anonymous No.26292004]

>>26288762
Doesn't make sense over here unless the US resumes the bomb random countries and we take the refugees system.
If it wasn't for the "crisis" real-estate would have crashed and taken a few banks with it.

[Anonymous No.26292070]

>>26290918
You literally just click sell and then withdraw to your bank account you dumb fucking toddler. It is easier than turning stocks into cash

[Anonymous No.26292092]

>>26288762
>living inside a cheap soft timber framed house made of thin gypsum sheets, plastic foil wrap and hollow "stone" decoration that'll completely rot in less than a lifetime

Why do americans do this? its china tier.
Even better, then they think they need a rifle to protect their home when anyone can just drive and crash right into their bedroom

[Anonymous No.26292369]

>>26290918
Paid off my truck

[Anonymous No.26292476]

>>26291841
Yep. Better returns than boomer dividends

[Anonymous No.26292483]

>>26289867
Based cannibal serial killer.

[Anonymous No.26293058]

>>26290867
Top tier art anon, you're doing the lord's work

[Anonymous No.26293673]

These 1m+ houses are difficult to sell, all of them around me have been on the market for over a year and they don't gain value much at all. I remember looking at one that was 750k over 10 years ago and now it's going for..800k what a great investment..

[Anonymous No.26293727]

>>26290918
Yeah but definitely not millions. I don't even know if I would have to arrange that with my bank or what

[Anonymous No.26293759]

>>26290970
I thought he was talking about me for a second actually

[Anonymous No.26293931]

>>26293673
I really doubt that

[Anonymous No.26294135]

>>26290867
Then some day just sell everything, transer what you cashed in to a foreign account and never step on american soil again

[Anonymous No.26294238]

>>26290918
okay dave

[Anonymous No.26294283]

>>26291273
to have a money making asset instead of a liability smooth brain

[Anonymous No.26294570]

mortgage niggers ngmi

https://www.youtube.com/watch?v=_P99kVphRMY

[Anonymous No.26295233]

>>26294283
If you're rich you don't care about such peanuts. Freedom of movement > income from peasant renters.

[Anonymous No.26295392]

>>26289867
Anon, your house looks like 2 people having sex doggy style, please see my diagram.

[Anonymous No.26295527]

>>26289126
>1. Every state I move to turns to shit.

Spotted the Californian

[Anonymous No.26295710]

>>26295392
It's a missionary position you virgin

[Anonymous No.26295778]

>>26295710

Nah my top building is plowing the bottom one from behind

[Anonymous No.26295869]

>>26288762
My dad is a contractor and I'm about to get my architecture license in the next year. We are going to take advantage and build/sell for a few years until I make enough to retire and he makes enough that he can indulge in all his boomer consumer fantasies without worrying about long term finances

[Anonymous No.26296276]

>>26293673
>750k over 10 years ago and now it's going for..800k
that sucks but still beats renting. imagine renting something for 10 years and then getting it all back +50k interest when you move, and the place you've been living in for 10 years wasn't a shithole apartment in a ghetto. a lot of things have to go wrong for owning not beating renting

[Anonymous No.26296325]

>>26288836

[Anonymous No.26296397]

>>26288836
But you don't need a mortgage from the bank if you can just pay for a house. Surely you can find a nice place within your budget and just pay it off in one go?

[Anonymous No.26296487]

>>26296397
Because you can invest the money and get 7% returns and pay off the interest while profiting.

[Anonymous No.26296665]

>>26296487
I mean, if I'd have multiple millions, I'd just take one million to buy a nice, self sustaining place. Might not be the best move fiscally, but you'd sure as hell be comfy having a fancy roof above your head whatever happens to the economy.

[Anonymous No.26296789]

>>26290946
It's totally possible. Buy a suit, mirror the interviewer, lean back in your chair...

It's all positioning.

They want to hire someone as much, if not more than someone wants a job.

[Anonymous No.26297088]

>>26290514
being a landlord is absolutely shit. inevitably tenants cause a lot of maintenance needs and will fuck you over in one way or another eventually. I rented out a house for ten years and will never do it again.

[Anonymous No.26297149]

>>26290867
>40 year ARM
kek

[Anonymous No.26297169]

>>26297088
lol, location matters. be a landlord in a good place and choose good tenants and get a few grand every month for like 2 hrs "work".

[Anonymous No.26297182]

>>26290946
lie. you went to Yale.

[Anonymous No.26297266]

>>26289126
Go back, calitard

[Anonymous No.26297456]

>>26297169
It works like that until it doesn’t. People get crazy especially after they have lived in a place for a couple of tears. The laws in many/most places make it all very generous toward tenants and there are myriad commie orgs telling every retard who can’t pay tent how to work the system. Worst of all is that tenants do not respect your property and will not tell you about things that are broken or need maintenance no matter how cool you are.

Renting a property you own is useful if you need to cover the monthly cost hut have to live elsewhere or have a rough patch financially. It’s a shit gig for profit unless you own the properties outright, have capital, and can keep a close eye on them. For the same amount of work you can make better money otherwise.

Real estate is a meme - unless you own an apartment building with 20+ units. Otherwise it’s just a way to cover some costs while you hope for a spike in value so you can sell.

[Anonymous No.26297510]

>>26289126
>1. Every state I move to turns to shit.
Then stop moving states you fucking asshole. Clearly you're the common denominator.