Is real estate guaranteed wealth?

Is real estate guaranteed wealth?

>guaranteed wealth

retardedwojak.jpg

Nope. High taxes. Realtor fees. Insane buy in. Long waits for short gains (unless you get into cities like NY and San Fran). Repairs. Insurance. Property tax. etc. etc. etc. The way to make it in real estate today is be the guy BUILDING it or own about 10+ properties. It's insanely expensive to get in and you can only charge so much for rent.

Real Estate being over $1 defeats the whole purpose of the affordable housing. If you knew anything about The Projects, you'd know this.

Use your brain people. Are you seriously going to fucking buy this over $1?

>real estate

mortgage market crash. greatest PnD.

Yes, property is the ultimate Chad coin, if I ever cash out with enough money to buy a few houses you better believe I'll rent them out and live on that money forever

>Rent is $220 dollory do's a week.
>Have to pay for all the retarded shit
Might be good if you have 10 houses but that's like 3million $.

kek

I’m paying 1200 a month rent to live in a condo that probably costs low 200k

So 3 mil worth of similar condos would get you $18k a month or $216k a year not bad

Wouldn't it then be like Sweet Little Susie Q's Lemonade Stand. You start with one property until you can buy two, then you buy four, and so on until you have enough to generate the income stream?

I don't know what you mean by this. Is this a reference to economic theory or a book I should read?

Probably not *just* now but soon-ish I expect groups to begin buying up ranchers (semi-popular style in those areas, no stairs) especially in the Midwest and Mid-Atlantic to use as group homes for people over 65 to live in with the supervision of a live-in nurse type. There are some scams circulating currently that exploit how sensible this concept is but the day of this being a widespread (read: profitable) arrangement is probably still a ways away.

If you get rich off this, send your boy a tip in ETH @ 0x4E1F994C4c5c7C7E57dBec32018bd827DD869d1D

Buy that shit, white man.

Taxes, insurance, repairs, debt service

Shit adds up

No, but if you're rich you should probably own SOME property, it's a reasonably safe investment

Aren't houses free gains?

>Buy house for 500k
>Rent it out for 3k a month for 5 years, making 180k
>After those 5 years, sell it for 750k

You are misinformed and a moron. Using 20% down payment you have 5 times leverage.
>3% appreciation = 15% ROI
> Mortgage principal paydown in 1st year (1%): Another 5 % return
>Amazing tax writeoff
>15% cash flow.

So an easy 35% return in your first year. As your loan amortizes you get a higher rate from more principle paydown.

*sigh*

Yeah but who knows what tenants you're going to get, if they're going to wreck your shit for fun. Also if you're going to get tenants who can pay in the first place, who pay consistently. Also if you're going to have to pay a property manager/management company because you can't do small repairs yourself (willing to bet no on this board) plus cost of upkeep etc.

It's not free money like people think it is.

*keks heartily*

I love this meme

Tax writeoff in some areas is definitely not going to be the same as it's been under the new tax code unless I'm misinformed.

...

I own a short term rental near a national park. Cost me 35k down. I net 17,000 a year after all expenses.
So almost a 50% Cash on Cash return not even counting appreciation, gained equity, and tax benefits.

Mortgage interest deduction remains. Non conventional financing such as HELOC's arent tax deductible anymore.

no only propaganda is guaranteed wealth

WE are not talking about BAT here