/biz/ - Business & Finance

[Anonymous No.57276354]

What's your excuse for not investing in property and getting filthy rich?

[Anonymous No.57276506]

The overwhelming majority of people I know who invested in real estate development lost everything. The majority of people I know who invested in being land lords got stuck in a loop of absolute bottom feeder behavior where they did the scummiest things possible to suck a few hundred bucks at a time from people who couldn't afford to lose that much.

I aspire to better things, and neither of those is being filthy rich.

[Anonymous No.57276518]

Also, fuckers like that guy in the OP? What he's describing is being leveraged up to his eyeballs in personal debt. People were doing that shit prior to 2008 and they lost fucking everything.

[Anonymous No.57276705]

>>57276518

[Anonymous No.57276829]

>>57276354
I don't know how.

[Anonymous No.57276848]

this fish lookin nigga is trying his very best to hide his receding hairline, you just know

[Anonymous No.57276851]

because I dont have rich parents to give me 500k to start

[Anonymous No.57276859]

>>57276354
Not going to pretend I'm holier than thou but becoming rich from real estate/landlording seems so pathetic.
I have a friend that got rich owning two vape shops during the peak of the craze years ago before the market was oversaturated, and selling disposable plastic nicotine machines to the youth seems more righteous than profiting from land ownership.

[Anonymous No.57276893]

>>57276354
I did this with the VA loan because you put zero down. Have 12 properties now(live in one and my mom lives in one)

[Anonymous No.57276906]

>>57276354
Just got my property tax assessment.
The city thinks my house is worth almost 100% more than what I'm paying for it.
Recommend me a third world to move to when I sell it.

[Anonymous No.57277215]

>>57276829
easy just:
>save up for a house down payment
>take out mortgage and start renting it out
>eventually make enough to get another mortgage on another house
>repeat as much as the banks will let you
Eventually what happens is the value of the homes goes down (making them worth less than your mortgage) the rents also decrease as the home values tank, making you less cash flow. It ends when you declare bankruptcy and now own nothing.
What also happens is property taxes start increasing, insurance rates shoot up, the homes your renting start falling apart and need major maintenance, (HVAC, roof, garage doors, insulation etc.) or you rent to someone who you have to go through eviction process, while you make 0 money.

[Anonymous No.57277226]

>>57277215
I don't know how or have the money to take out a mortgage.

[Anonymous No.57277239]

>>57276354
it's always these 20-something year olds shilling this shit on insta. but if it was such a great business why would they need to spend most of their time shilling it online?

[Anonymous No.57277241]

love the anti landlord sentiment on biz. you can just tell half the posters are beaners or white trash from the responses. not everyone wants to own. some just want to rent. it’s not complicated.

[Anonymous No.57277247]

>>57276354
>RE
Enjoy being exit liquidity.
That ship has sailed.

[Anonymous No.57277267]

>>57277226
>>57277215
No you would just sell one property and be able to pay off all the other mortgages for years until the market continues to pump

[Anonymous No.57277432]

>>57276354
>Just have a million properties that all need constant maintenance, non-paying tenants that damage everything and slap you will legal shit so you lose money bro!!

[Anonymous No.57277595]

>>57277215
fuck it im in

[Anonymous No.57277611]

>noooo don’t invest in anything tangible just get rich off shitcoins

kek stay poor fags

[Anonymous No.57277621]

he doesnt say houses so just buy lots, no maintenance, low tax, no tenants

[Anonymous No.57277622]

>>57276354

didn't have enough money in 2020 to buy a second property so I invested in semiconductors instead. Now I can buy whenever I want to but real estate is mostly overpriced boomer fart boxes.

[Anonymous No.57277630]

>>57276354
Always remember there’s a plan to take away your “excess” and those you look down on will spit on your grave after you kys

[Anonymous No.57277700]

>DUDE JUST HAVE ENOUGH MONEY TO BUY A HOUSE AND THEN BUY MORE HOUSES

[Anonymous No.57277752]

I have done hard drugs with this guy.

[Anonymous No.57277802]

>>57277622
You do own one property so your not retarded for fading real estate because you are hedged in case it continues to go exponential.

[Anonymous No.57277860]

Let me know how I can make 10 million dollars then

[Anonymous No.57277875]

>>57276893
3% is close enough to 0% so as to be functionally indistinguishable, and through a Special Purpose Credit Program for people living in Roodypoo-ville metros (Philly, Memphis, Atlanta, my city, etc.) I got nearly twice that much in downpayment assistance grants. Grand total of like $5500 out of pocket for a 1br apartment next to a university and hospital system. In one year I'll tell the lender "Oh yeah actually I changed my mind, I'm going to be moving, but I want to keep the place and rent it out instead of selling" and be off to the races.

[Anonymous No.57278286]

>>57276354
I have not heard anywhere near those cash flow figures from an individual property that he's claiming. Everyone I know who does real estate all pretty much agrees the power of it is scale and tax benefits, but a single rental is pretty much shit from a cash flow standpoint. A bunch of it gets eaten up in the expenses on the property itself and the tenant management. I know people that make absolute fortunes, but the path is a property, multiple properties, property management, more properties. But each property is like $1,000 in cash flow a month at MOST. The equity build is nice, but it doesn't really work like he says there.

[Anonymous No.57278293]

>investing in property
>getting super rich
Alright look, kid, I know you're probably in high school or something but you really need to learn how this shit works. Nobody gets filthy rich off of real estate alone

[Anonymous No.57278311]

>>57276354

Landlords are a parasitic cancer.

[Anonymous No.57278317]

>>57276354
I'm buying bond ETFs instead

[Anonymous No.57278335]

>>57276354
>a real estate property

based

[Anonymous No.57278511]

>>57276506
>Scummiest things possible to suck a few hundred bucks at a time from people who couldn’t afford to lose that much
Examples?

[Anonymous No.57278542]

>>57278511
You ever see a landlord blame a severely autistic menial laborer for bedbugs that she knows damn well the neighbor introduced just to bill someone for the cost of bug bombing them?

[Anonymous No.57279510]

dont see the point. all the stuff im interested in got pulled off the market because owners think instead of offering a fair price they’ll instead manage to ride this downturn out. im either buying all the properties i desire at rock bottom talmudic magic prices or not buying any at all. i am not helping someone break even on their 2022 peak mania impulse rental property buy that they started renovating but stopped halfway through

[Anonymous No.57279531]

>>57276354
Guys it's just that simple just do what this inbred mongoloid says

[Anonymous No.57279537]

>>57276354
>literal 56 percenter
>people replying
This board is over

[Anonymous No.57279584]

These zoomer gurus are insane. They are not even MLM gurus that have chrasima or a act to con you in the first place, they are stupid kids who repeat what they read in make money self help books. Yet it works.

[Anonymous No.57279633]

>>57276506
>I aspire to better things, and neither of those is being filthy rich
Why are you here?

[Anonymous No.57280248]

I wouldn’t invest in an asset with no upside. Housing prices are already sky high, this only makes sense if you think the bubble won’t pop.

[Anonymous No.57280795]

Becoming a property investor in 2024 is like becoming a Bitcoin investor in 2050

[Anonymous No.57280933]

>>57277630
no there isnt and no they wont, they will be too busy waging

[Anonymous No.57281581]

>>57276518
even if there was a crash like 2008 people still need houses to rent, so he can keep renting out the house and paying off the mortgage until house prices return to norm. You only lose money when you sell.