Your house

>buy house
>rent it out immediately
>live in modest apartment while making money off of fools that lack foresight
>make enough money to outright own the home
>expand your empire from there
>an extra 10-30k a year will become an extra 100-300 within a few years
>keep lifestyle simple, never shit yourself over housing crises because you won't lose yourself by making less money, because you diddn't live up to your current means like a fucking mong

>buy house
>rent it out immediately
You know, banks give you far worse interest rates and you lose out on tax deduction with it not being your residence, right?

Then go for a multiplex and live there. Actually, that would probably help keep shenanigans down.

How's living in flyover land?

>not buying a duplex and renting out part of it

It's like you want to be poor

>You must live in flyover land if you live near your place of employment.

>sharing your home

Why the fuck would I do such a thing.

So how is life in flyover land?

Life's good, man. Life's good in God's country.

Rent: condo for cheaper than cost of mortgage on condo or house.
Buy: use money saved to purchase shares of residential multifamily REITs

thezikomoletter.com/2012/12/10/you-are-naturally-short-housing/

>buttravaged east/west coasters

Speaking of stay the fuck out of Texas, I'm tired of dealing with you bitches.

>he doesn't see the imminent housing crash

Good goy

Buy and let the military pay my mortgage.

>buy quadplex
>live in one section, rent out other three
>use own income plus three supplementary incomes plus your own to buy a nicer duplex
>five tenants now basically paying off your duplex and maintenance for quad
>use this supplementary income to buy nice single family home
>you now have six tenants paying your single family
>???
>profit

>buy quadplex

If only I had 100k USD for the down payment...

I bought a big rv, paid it off in a year and a half, I've moved 4 times and pocketed a fuck ton of money

What if I just wanted to rent until I advanced my career as I saved even more money and eventually get a better paying position with all the money I've already been saving while renting, then buying a house with the intent to rent out to people later because profit. Eventually buying my own house just for me.

Would this actually be a smart idea if I had 100k for a down payment, assuming I could get a decent loan? Houston, TX, interested in dat passive income.

Any tips on renting house?

I bought mine several years ago, and I still pay for its mortgage (10 years mortgage). I'd like to rent it but haven't thought about the strategy. Roughly speaking, I only thought about renting it to students because the property is 5 km away from a university.

Which of the tenant types is more profitable you guys think, rent it out to a family of two (lower rate, less risk) or to students (higher rate because I would let more than 5 persons inside, but risky).

By risks, I meant the wear and tear of the property. Also, how about the agreement? Is it compulsory?

I would rent it lower than my mortgage price, as long as I don't need to pay it at total cost. Though I'd like to maximize the rate. Because right now, my mortgage costs higher than the market in that area.

Bump

>Which of the tenant types is more profitable you guys think

White family of two. I can't emphasize "white" enough.

Depends on the market and what's available. Also depends on your financial situation and plans.

Are good buys available?
Do you think prices will trend in the right direction?
How much will your mortgage payments be compared to your monthly income?
Is it >30%?

etc. etc.

buy if you have the cash and find a good deal

i wouldnt get into a mortgage.. its an enslavement trap

>A 3% mortgage is enslavement.
Stop posting.

buy new.
rent old.

Here's an idea - turn it into a gov't assisted living facility if there's several bedrooms. If you register as such, you can rent it out by the room to the disabled for more than you'd get with regular rent.

Also, don't worry about wear and tear so much. It's been proven time and again that most of the loss incurred by rentals are from vacancy, not fix ups.

I really want to buy, and have the cash to make a significant down payment. Where I'm at it's currently a sellers market, selling in a day and way over asking price... Plus I feel like the house prices are way inflated, and kind of am hopin for a crash... Maybe I'll save for another couple years and buy the whole damn thing in cash.

try to find something below the market rate that needs repairs and/or renovation and do the work yourself

that way if the market tanks 20% you can just about break even

Realised a 171% return on my first apartment after 3 years (and thats after taxes). Buy is pretty much the best thing (at least where i live).

Its pretty neet when you can get 1.5% interest loans.

I live in Texas, and if your house's mortgage is lower than an apartment near your office in Houston, you're at a shit office out in the boonies.

Timing is huge.
I bought outright and have had an excellent increase in value.
But I'm also pretty sure buying 3 years earlier would've fucked me.

I own my own home. The motivation to invest into home improvements is great. Rather then buy nice cars or shit like that I've been slowly building it up from a dated house to a nice modern pad. The motivation to do the work myself comes from living in it and not wanting to live in a shithole.

That's my own experience. Bought at 330K put like 20K and hundreds of hours of my own labor into new flooring, ceilings, paint, landscaping, lighting etc and I'm pretty sure it's worth 400K or more by now.

I know for a fact if I had some low-rent apartment and tried to save and put money into the stockmarket or other investments I wouldn't have 70K return. not to mention I own it so I'm technically "saving" toward something I own every time I pay my mortgage.

Buy. Owning > renting any day.

Why?

kek

And people say this economy isn't a pyramid scheme.

buy something that is an appealing rental. lock in a nice low mortgage payment now. live in it for five years and save aggressively. move on to a bigger place (you saved aggressively, so you have the down payment money without having to sell or refi your old place) and rent your old place out for considerably more than your mortgage payment. repeat as necessary.

This is literally my dream. A beautiful tri plex.

my mom took an 'unemployment forbearance' on her mortgage

now her credit is wrecked and they want balloon payments

these programs are scams Y/N?

>live in it for five years
Aaaaaand you lost me.

I'm early in my career and I'm not going to lock myself down that long.

fair enough. lack of mobility can be a major downside of buying depending on what your life situation is.

It's a bit depressing, because a 30-year-fixed would be less than $700 for a very nice house here, and most mid-range apartments are easily $900 for just rent.

I wish I could buy, but I could get a job offer across the city or nation within the next year.

What If I buy and rent it to someone? Wouldn't that be an investment since I own the place but don't pay it's taxes while getting some return?

Lots of time from you and good luck making a worthwhile margin.

I plan on buying cheap properties and fixing them myself, which would give me a wide margin of return, time isn't a problem since I don't like working for someone else.What do you say? Is it a waste of time?

Would that job offer give you an extra 4000 dollars a year plus the gap in cost of living?

I fell for that shit -- moved to Boston for double my salary without realizing that my cost of living would double too. Gotta be careful, man.

Flipping houses is a shit meme when you can rent them out instead -- especially if you're young. That passive income and asset ownership stacks up over time. Plus, rather than sell you can refinance and use the margin to buy more properties. Most people don't do this because they just don't have that initial capital or they try to profit off their home but sell in a shit market.

Where? Scandi here to.

Well, thank for the input

thanks*

Buy a multi family, live in one unit rent the others.

Then with profit from multi unit buy more , eventually buy farm. Build house there, lease out land to farmera or ranchers.

Make my properties pay

Copenhagen

rent

You need a God in that land.

>save aggressively
>years
Life is short, no one really owns anything, we are all renters. If you have kids and want to pass on something in the form of real estate OK then but kids? Life is a trap.

Its weird knowing that people don't actively travel because they're stuck in a shithole building a business up for someone rather than building one themselves.

I'll have 100k in cash in 1 month
I live is Massachusetts and need to be within 1 hour of Cambridge with no traffic

What would people recommend?
Note: even after next month, I'll still be gaining more money, so I'll have even more at my disposal as time goes on

I rent in the "ghetto" to save money. Feels good because it only costs me 700 a month. And I get a 5 minute commute to work. Make around 65k

Never had a problem. You need to just have street smarts. Though I do plan to buy a house when I have enough money. Also I get to live near slutty Puerto Rican jailbait girls who run around in their bikinis in summer.

People should rent first to save money for a house.

>People should rent first to save money for a house.
No, they should live with their parents for a year or two to save money
Renting will just sink a good portion of your income into the abyss.

because you tell your bank all this info...

>Committing fraud
>Sending your bills and other documents to an address which you do not live at
You know, you could just live in the property for a couple of years and then legally move out and rent it at that time.

My parents don't live anywhere near a decent job in my field.

This. I want to find a nice fourplex, live in one unit and rent the others out. Problem is the initial cost. May need to start with a duplex.

Senpai, if the IRS finds you're subletting without reporting rental income, you're gonna be in deep shit

I was just reading 'Choose Yourself' by James Altucher.
There was a line in the book where he said he believes 'it's never a good time to buy a house'.

He didn't really expand on it though.
I don't think he meant it like 'never buy a house',
I think he meant it like many parents say it's 'never a good time to have kids'

- if you have your heart set on either home ownership or parenthood, then it's probably the 'right time' for you.

But you had better be prepared for any problems associated with it (and there WILL be) and you will have to deal with those problems.

I like the idea of living in hotels forever, because most problems are someone else's. I can check out in 5 minutes.

An issue with your house could take months to sort out.
Neighbors, disputes, structure, boundaries, maintenance, cleaning, decorating, you 'own' all of that too...

That's an interesting idea. Wouldn't you be liable for staff wages, though? The ideal situation would be turn-key.

Example - seen on TV recently -

>homeowner orders new patio doors and windows to upgrade old ones to double glazing
>contractors turn up, rip out old ones, take them away, install new ones
>problem solved, amirite?
>not so fast, Senpai
>weeks later
>contractors turn up out of the blue, start removing windows and doors without notice
>woman comes home, sees this
>contractors tell her the firm that installed it went bust (bankrupt) & they did not pay them
>these guys make and sell the glazing, the other firm is a separate company that just installs it
>she appeals to them, no dice, so she calls the police
>police turn up, question the contractors removing glazing
>police say this is 'not a criminal matter' - it's a civil matter, and they have no power to intervene in this dispute, it will have to be pursued via claims court, solicitors, etc
>insurance won't cover it, she has to pay again for glazing she already paid for
>this could happen again
>she was advised the only way to be sure is to order the glazing and pay for it, then hire installers separately

How many times could you cover things like this happening?

Inb4 it's only money, I'm an Arab prince, etc - that's not the point, it would still be more money, time, stress and hassle even if you have assistants dealing with this.

If you rented, this would all be someone else's problem.

You also can't influence what development goes on around your property.
I used to live in a nice ground floor apartment with a sunny rear garden.

Up goes a five story apartment block, just over the wall,which turns my garden into a dark shadow, and most of the apartment.

That's just a mild example.

>police say this is 'not a criminal matter'
>seen on TV
They are trespassing, remaining after forbidden, etc.

It is criminal.

The proper way for this to be resolved is that the glazing company is a creditor of the installation company. They have to hash it out in bankruptcy court. They do not have the power to seize the assets of a 3rd party to cover their losses.

Buy because if your renting then your only paying someones mortgage for them

I'm confused by your question.
What you mean 'liable for staff wages' - do you mean as in turning your home into a hotel?

I just meant staying in hotels that are established.
There was a book about a guy who did this for years, I forget the title.

Also, many travelling business peeps and rockstars, rappers, rich people, enjoy travelling, and live half their life in hotels anyway.

It's not unusual for rich peeps to spend months in hotels, precisely because of the amenities and problems being someone else's problem - it may not be cheap, but you basically get a staff of footmen / maids / butlers that you don't have to hire / fire /manage, plus freebies like maybe a buffet, meals, toiletries, towels, robes, a lot of shit that frees up time and mental energy not wasted on petty shit.

It's funny how many people have the 'rich peeps meme' of thinking - if I just get X million, I'm set!

>Big fuckoff house with Lambo or Bentley in the drive, etc

But few really do the math on that (google prices for spare parts on a Lamborghini, or a Bugatti for that matter. Try not to spit your beverage all over the monitor. I almost fainted when I saw the price of a Bugatti replacement wing mirror, and I HAVE more money than most NEETs around here)

They also probably underestimate how many rich peeps rent out their home(s) to to other peeps or for movie shoots, music video shoots, photo sets, etc or travel so often they rent it out more than they stay there.

(FYI, I went to a porno shoot because I knew the producer - it was in some rich old guys apartment they rented for the day)

It just seems funny that peeps are trying to make a few mil, so that they don't have to do something that may seem desperate (like renting out part of their house on AirBnB) only to 'make it' and realise that many rich peeps do this anyway.

The late publisher Felix Dennis (£500 mil+ net worth) was also notorious for hiring and renting everything he could

>Trespassing
This is in the UK.
'trespass' is more complex here.
Technically, it's not an offence in and of itself, but 'aggravated trespass' is - technically, you could walk into someone's house through an open door, and would have to commit a further offence or cause inconvenience without good reason.

Also there are criminal and civil court systems here, it may be different where you are.

>seen on TV
It was reality tv - a consumer rights show and everything is verified and followed up.
The contractor said they were asserting their right to confiscate unpaid goods, and the other firm was given months to pay.
Under UK law, they still 'owned' the windows and doors.
It was something like £15-20k's worth of glazing I believe.
Yes, the installers were the creditors, but, they are not 'seizing the assets of a third party', they weren't paid, so technically a 'sale' (on credit) took place, but no transfer of ownership took place, since the balance was unpaid.

I believe the judgment in the end was not that the maker or reseller was in fault, but that the installation firm was not structured or indemnified properly.

Buy because i live in the city with one of the fastest growing property value in the world and buying is a good investment for where i am.

>TFW rich chinks come here and shadow flip houses
>TFW i spent $250k on two bedroom 840 sqft apartment built in 1981
>TFW more and more chinks come everyday and feed off Canadians like parasites

I fucking hate china but now that i am in the market i dont want the bubble to burst

Also, this

lol sorry kid you got it backwards.
The Chinese are the cows, the boomers are the parasites who lucked out into selling a shack they bought for 10x less. All those construction jobs, banking jobs, manufacturing jobs, luxury car sales jobs, schooling jobs are held up by Chinese money. If they leave we're FUCKED.

>contractors turn up out of the blue, start removing windows and doors without notice
What the fuck?

Frankly, I'd demand they leave and shoot them if they didn't, assuming I hadn't signed something I shouldn't have.

>UK

Oh, I forgot you guys don't have the right protect your property.

Fuck that shit. Also, while not the point of the post, I would just buy some windows and pay some mexicans to install them if I did not feel like doing it myself. Is it that hard?

No, we do have the right to protect our property,
just not from somebody retrieving their own property, or from somebody merely loitering or trespassing.

They have to commit a criminal offense, or threaten or inconvenience you with deliberate intent.

It's complex.
The law has become clearer recently due to a few high-profile cases of self-defence.
In this case, shooting them in the face with a .357 would be classed as 'excessive force', but yeah, if it's a burglar or they forced entry or are trying to force entry or something, you can beat / shoot / stab / kill them with a club, bat, knife, sword, crossbow, rifle, shotgun, etc

But trespass?
We are still stuck in the 18th century there - if you're watching TV, and you go the kitchen and return to find a guy has walked in through your wide-open back door and is sitting on your sofa watching said TV, your only recourse is to politely ask him to leave.

He can refuse, but if he becomes aggressive or confrontational, or is even lying on the sofa you want to lie down on and won't move, or he starts eating your popcorn or something, you can then forcibly eject them, using necessary force, as above with the burglar scenario.

I'm sure you're proud that in many US states you can unload an AR-15 assault rifle at that kid retrieving a football from your garden, but we do things differently around here.

Having said all that, we have some laws here that are one step forward, two steps back.
It used to be great when you could just buy a fucking psycho dog or two and problem solved, right? My dogs don't know what reasonable force is! You could basically take your time calling the cops while your dogs are eating the prowler's ass for shits and gigs, as long as it was on your private property or residence.

But recently, the courts decided that if any dog you own attacks anyone anywhere, including your own property, house, residence, you are liable, will be charged, and the dog usually gets put down (as if the DOG made a poor life decision! Dogs protect their territory by nature.)

That's some real bullshit there.

There was a few test cases where burglars (burglars!) sued dog owners after getting attacked and savaged by dogs in homes they broke into, so that set a precedent for the new laws that 0.00001% of the population (burglars) wanted.

So after my dogs have at him, I think the only burglar who can't squeal is a dead burglar.
No reports, no phonecalls, no lengthy court cases or statements, just murder him and literally feed him to my dogs...nothing of value was lost, and I save on dog food, so it's win-win.

>I'm sure you're proud that in many US states you can unload an AR-15 assault rifle
Hey man, don't get upset because you're a slave in your own country and don't understand how personal property and gun rights work in mine.

>paying someone else's mortgage

top kuk

I'm not upset, but you seem a little salty, fella.
Did I rustle your jimmies?

>slave in your own country?
Care to expand on that? It's a bit vague.
>and don't understand how personal property and gun rights work in mine.
I thought I did understand, as per my example, but feel free to elaborate - It depends on whether you are a US citizen, and varies by state of course.

8/10 though, it sounded like something Trump would say...

Depends where.
and when

This. I'd rather live as close to work as possible because I'm too lazy to commute an hour like everyone I grew up around. Hell with that, I'd rather have a COMFY walk/rail ride. Commuting costs money, too, not to mention the time and stress. It's like a second job. Fuck that.

Also renting because I move frequently. Hate being in the same place too long.

Heh. I rent a share with other people. 400-800/month depending on area. Feels good, man. Plan to do this until I get a husband, then we can move to a studio apartment (1200/month) and split the rent (effectively 600 each.) Feels damn good.

That's actually against UCC because buyers of consumer goods are protected from bankruptcy from who they bought from. Otherwise Radioshack's creditors would be repossessing all our...batteries or whatever people actually buy there.

But excellent point. Home maintenance is a huge burden, again like a second job. Fuck repairs, upgrades, mowing lawns, all that shit. Not only is home ownership high risk, and limits mobility, but it requires a lot of labor and time/money input as well. As a rentfag I just phone the landlord to come fix whatever breaks and it ain't my problem.

You are unable to effectively protect life and property, amigo. That is the antithesis of liberty.

As far as being able to summarily execute people for simply entering my property without permission? That's a total falsehood perpetuated by those who don't understand justifiable homocide and selfdefense laws in the US.

Generally speaking you have to fear for the life and safety of yourself or others. Other times you may shoot to stop someone from committing a felony, but that usually falls under the first circumstance.

>>You are unable to effectively protect life and property, amigo.

I listed every means of maiming or killing, armed or unarmed, I could think of. Seems pretty effective. The dog issue is a bit shit, but it won't matter much if he gets killed, because he can't sue.

>>As far as being able to summarily execute people for simply entering my property without permission?

Frankly, I'd demand they leave and shoot them if they didn't

That was the statement I responded to.
Sounds like summarily executing someone to me.

Would you do this before or after police attend the scene and investigate and inform you no crime is being committed and you have to pursue a civil claim?

I believe shooting the kid would be justified in many trigger-happy states, just prove you were scared or intimidated or thought he was stealing, or he didn't leave when challenged.

I would say that the myths about the UK self-defence and gun laws are a falsehood perpetrated by those who don't understand them.

Also, liberty?

Check out The Patriots Act, and other fun executive orders stating that the US Government can seize anything form you without reason, forever - money, property, etc and detain you indefinitely without charge (sounds a bit Commie-Nazi?)

The IRS has also had the power to sieze any property or money without reason, since it's inception - they can and they have.

Also, college fees cannot be defaulted or written off, and you cannot declare bankruptcy protection, etc

Don't believe me? You need to be redpilled, son.
Check out Aaron Russo's documentary on taxes on YouTube.

All IRS and federal employees he interviewed could not explain why Americans get double taxation at a federal and state level, regardless of residence or location, and why ALL wages / salary & income (NOT the same thing), capital gains, sales, even competition and lottery winnings, are taxed.

Because in the land of the free -
'NOBODY RIDES FOR FREE, MOTHERFUCKEEEER!'

In Vancouver, Renting is absolutely the smart move. Retards are throwing $800,000+ into presales for 500sq foot, one bedroom apartments in okayish parts of town right now.

Meanwhile I'm renting a massive 2 bedroom apartment in a well maintained 90's building, 15 minute drive from city hall, for $1200 a month all-in.

So while the 'homeowners' in this town are buried in debt, riding a bus, having no disposable income, and no investments; I'm sitting on a couple hundred grand in ETFs, investing 60% of my net pay, and still have money for a fun project car, vacations, and the occasional nice dinner.

I was going to say, how does living in a shitfuck make you feel?

>2016
>not living in a city that has a high rate of veneral disease

Both buying AND renting is a meme.

Squatting is the only non-pleb answer

Expat living in London, when I inherited 3mil two years ago all my relatives told me I had to buy some tiny ass flat in London because I had to get "on the ladder", instead I invested in a range of high dividend yielding stock and S&P index funds. Currently getting making at least 4% p.a. excluding my riskier investments in Nasdaq Tech/Pharma companies, use this to pay my rent while growing my portfolio using my professional income.

Tfw when Londons house market is going to crash from Eurozone debt crisis/Brexit/Refugees and I'm fine because Trump is going to MAGA.

Enjoy your voluntary serfdom housecucks.

>can only lock in mortgage rate for 5 years
>comes time for renew
>new rates are 10%
>foreclosure

>Plus, rather than sell you can refinance and use the margin to buy more properties
Only if your house value goes up which isn't guaranteed.