[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 29 KB, 600x400, house.jpg [View same] [iqdb] [saucenao] [google]
8939692 No.8939692 [Reply] [Original]

As a 19 year old with no college education, how can I use my $100,000 from crypto to set me up for success in life? I was thinking of buying a cheap house so I wouldn't have to ever worry about mortgage / debt

>> No.8939707

bump, this is actually a good question Anon. I'd say leveraging real estate but I'm not sure if that's enough money for that.

>> No.8939722

>>8939692
That's the dumbest thing you can do.
You should invest in real estate when you have at least 500k
Until then rent and use the money wisely to make more

>> No.8939744

>>8939692
taxes and homeowners association. houses are money holes.
if you paid tax, go for a roth ira, deferred annuity, or insurance.
otherwise tax sheltered annuity, or trad ira.

>> No.8939768

>>8939722
To be honest I know I can get great returns from trading crypto, but it just makes way more sense for me to step away from the market for the long period of time it's gonna take for it to truly bottom out.

Outside of crypto if you have any ideas, I'm all ears.

>>8939744
Thing is I'll have to pay rent every month if I don't buy one. Not gonna keep living with my parents

>> No.8939809

It seems like I post this in every thread but it depends on your goals, your appetite for risk and how much you want to work

$100k is enough to do so many things, but some of the best choices might be (in order of risk/reward):
>risking it all on a startup idea
>buying and managing a franchise
>leveraged investments
>conventional investments
>living off grid in a tiny house and growing your own food

>> No.8939820

>>8939809
and of course the other option is go back to school and get a normal job

you could also consider travelling around for a few months while you decide

>> No.8939828

I advise against buying a house unless you're 100% sure you want to live where you buy it

>> No.8939833

>>8939692
nah, i wish i didnt do this when i was 19. did 30k on one property, 30k on another, tax time came around owed another 30k, then house prices tanked and it was all a big waste.

>> No.8939836

>>8939768
enjoy getting a mortgage. i'm in a similar situation. desu, the best way is to mooch as long as you can.
20k a year on rent is shit, but you really need to be careful about property tax, homeowners association fees, insurances, and organizational fees if you're going for a property.

>> No.8939871

>>8939707
Could you explain what this is?
>>8939836
>enjoy getting a mortgage.
Houses are only 100k where I live

>> No.8939874

>>8939692
Does 100k actually buy you a house? Or are we talking mortgage here?

>> No.8939898

id stay away from real estate since its shit of late.
thats enough to open a small bidnezz.
open a pizza hut pre ready place that just delivers hire shit skins to drive orders and LG.

>> No.8939925

>>8939871
>Houses are only 100k where I live
sounds like the comfy sticks. i'm thinking that >>8939820 is a good choice, but i'll also say that student loans aren't terrible. find an account with tax deferred growth for compounding returns & do some research

>> No.8939984

>>8939871
not everyone lives in fucking India ya sandnigger

>> No.8940001

>>8939925
>>8939984
I live in America. I should clarify the average house here is $120,000 , but I just want a cheap house since I plan on living alone for a while

>> No.8940035

>>8940001
How much can you realistically save from cucking over the next 4 - 5 years?

>> No.8940091

>>8939692
Some ideas
Buy 50000 lottery tickets
Buy hookers each day for half a year
Buy blow and flip it

>> No.8940119

>>8940035
I could only make like $20k a year wagecucking, I have no experience or education. Maybe I could save 10

>> No.8940179

>>8940119
Is there some way you could save more? Are you able to stay at home for another few years?

>> No.8940182

>>8940119
Another thing, what would rent be on the same kind of place?

>> No.8940204

>>8940119
Use the 100k to buy a house and have roomates pay for your cost of living. Then, save money and buy another affordable house to rent (pay the 20%). You rinse and repeat this process for infinite money. Just make sure it is a good rental property and don't buy homes during a housing bubble (which is currently going on in some areas).

>> No.8940238

>>8940179
>>8940182
Hopefully I'll also make money on my web ventures
>>8940204
This sounds too good to be true

>> No.8940256

>buying real estate at ATH

>> No.8940268

>>8940238
There are a few issues.

1. Assuming you can actually save money (most Americans don't)

2. You have to be able to deal with stress because roomates and tennants will stress you out.

3. You have to be patient.

>> No.8940590
File: 2.47 MB, 1440x2560, Screenshot_2018-04-17-01-34-12.jpg [View same] [iqdb] [saucenao] [google]
8940590

You could buy this property (which is currently being used as a festival parking area, and once a year a fireworks store) and convert it into an ice cream shop or something because just down the street is a stadium that brings a shit ton of potential customers all summer long until it's too cold and in the winter sell coffee n shit. Plenty of room for parking or expanding to have a drive through. I hate driving past there and seeing that stupid fucking festival parking sign when the dumbass owners have a prime location and can't realize how dumb they are.

>> No.8940620

>>8940590
Where is this and is it even for sale?

>> No.8940652

>>8940620
Hammond Indiana
Honestly don't know but even if it's not shoot them an offer and they'll probably take it, they building looks like storage

>> No.8940694
File: 2.26 MB, 1440x2560, Screenshot_2018-04-17-01-49-14.jpg [View same] [iqdb] [saucenao] [google]
8940694

Grrrrr

>> No.8940725

Just noticed that lease sign, I'll check tomorrow if it's still there.

>> No.8940764

>>8940238
It can work for as long as you can cover your obligations, if you can't you get liquidated, the norman just assume housing is different and this is not a possibility.

>> No.8940767

Buy the house and rent it to someone else.

Meanwhile, rent a cheap 1BR apartment for yourself.

>> No.8940776
File: 9 KB, 229x220, download.png [View same] [iqdb] [saucenao] [google]
8940776

>>8939692
Have a bunch of plastic surgery operations on your face and voice box and buy some real nice boobs and get lipo. Start camwhoring online. Send me pics as a thankyou.

>> No.8940788

>>8940590
Is this a larp? Hammond, IN is extemely ghetto now. Be prepared to carry a gun everytime you want to check on your store and get robbed constantly.

>Massive stadium

In Hammond, IN? KEK

>> No.8940816

>>8940590
>>8940652
Well, it's estimated at $100k+apparently. If I had the money is buy that bitch up forgot to mention there's a lady parts across the street, a football field, and a school PLUS the busy street. Sheeeiiiit I wish I was rich

>> No.8940826

>>8939692

Buy bitcoin.

Hold.

Work a regular job to pay for expenses while the value of bitcoin goes up.

Retire when you're capable of living off the money your money makes you.

>> No.8940853

>>8940816
The "stadium" he refers to is a patch of grass where 6 year olds have soccer games one day per week. There are also a couple run down tennis courts and a football field that hasnt been used in years.

Epic business proposal.

>> No.8940869

>>8940788
Bitch please I didn't say massive and it's in the whiting area (I have to check) but whiting is like it's own little safe bubble. There's been gentrification going on there for years, right now they're building a bridge and more parking solely due to the crowd sizes, and the beach front has been heavily updated.

>> No.8940872

>>8939692
Dividned stocks assuming you accept the risk of the value going down (or up!)

>> No.8940931

If you want an actual decent idea, here is what you do. Go to Airdna.co and search for the best Airbnb cities near you.

Buy a couple mediocre to rundown properties in high occupancy areas. Since you are young and have shit credit most likely you will need somebody to cosign.

Spend a couple months renovating them. Furnish and put on Airbnb. Do the cleanings and management yourself. After a year or so you will have enough cash flow to put a down payment on another property. Do this until you have 20+ rentals and are cash flowing enough to never have to worry about work again. Fwiw, long term rentals are a meme, stick with the Airbnb/Homeaway model.

Btw, this will only work in some areas of the country. Airbnb is a money machine in some areas and trash in others. The website I shilled has the best data and you can find the best areas easily.

>> No.8940934

>>8940853
U from around brub?

>> No.8940974

Good god, I still can't understand why you americans enjoy living in that shithole that is your country.
>Overpriced real estate
>Student loans
OP, do yourself a favour. Take that 100k and come in Europe to get a college degree for 1/100 of the price and of quality x100 superior. Come in Italy or Spain and enjoy the improved quality of life you could get with your money. As a result, you live with less and find opportunities for better jobs.

>> No.8941005

>>8940931
Generally speaking the larger the home the higher roi. A 4-5br will only cost slightly more than a 3br and will bring in significantly more cash flow. 1-2brs are profitable but not optimal in most cities.
Lots of big groups are into staying at Airbnbs. Our best performing properties are 5brs.

I wont tell you what area though, you need to research that on your own. The cash flow blows away any long term rental. You can also pay for maids and management if you prefer to be lazy, but expect to pay 10-15% for management and maids arent cheap.

>> No.8941017

>>8940934
I grew up in the Region, havent been back since I went to College. Rathole.

>> No.8941039
File: 129 KB, 750x744, IMG_2005.jpg [View same] [iqdb] [saucenao] [google]
8941039

>>8941005
I like you, anon. I want to do this.

Screen capped and saved in my wisdom folder. Thank you

>> No.8941093

>>8941039
You dont need much capital to start and its a great way to build equity in real estate. Add on a very nice cash flow and you have a money printer.

Its easy to scale if you choose the right city, demand is very high. Just be aware you will deal with some scum tenants so try and screen somewhat carefully.

>> No.8941094

>>8941017
Lol well you're right about Hammond but whiting is better and I know that place will be a good investment, some remodeling and fixing and it'll be making back the money within 5 years.

>> No.8941134

>>8940204
have rental property insurance anon, your tenants and mates WILL FUCK YOU OVER, PISS OVER YOUR PROPERTY, LIGHT IT UP, AND METH HAZARD EVERYTHING/MURDER.

>> No.8941151
File: 267 KB, 850x543, IMG_1431.jpg [View same] [iqdb] [saucenao] [google]
8941151

>>8941093
How much capital are we talking?

I'd like to get started and am saving right away. Unfortunately, I am in California and everything is super expensive

Looking around the States though, even outside of it. Would love to get into this

>> No.8941159

>>8941039
Also after a couple years of showing consistent cash flow you will be able to start getting mortgages under your LLC. This model really snowballs if you want it to. Just make sure you have good reviews and do whatever it takes to keep the guests happy (or have an elite manager).

>> No.8941183

>>8941151
Depends on where you want to do it. Can buy properties that do very well for 150-175k (20% down plus renovation and furnishing costs) in some midwestern states.

California is the nut low for this type of investment. Super expensive real estate and outrageous property taxes. Its not feasible in Cali.

>> No.8941219

>>8941151
You dont need to live where you invest as long as you have a property manager yoi trust. I live on the west coast and dont invest anywhere near my home. But I have great managers and they arent easy to find.

>> No.8941240
File: 58 KB, 771x454, IMG_1764.jpg [View same] [iqdb] [saucenao] [google]
8941240

>>8941183
Thank you Anon for your time and info. I'll be reflecting on your words in due time. I want to do exactly this

>> No.8941244
File: 46 KB, 600x613, DC31C97F-617E-4139-8A49-40E88C2074AB.jpg [View same] [iqdb] [saucenao] [google]
8941244

>>8940826
All in LINK faggot
$1000 EOY check em

>> No.8941426

>>8941244
Ohhh was gona post something semi-sensible but you got me!

Checked