I want to buy a house to rent it out and earn actual income. I got some money from my heritage and it's enough to buy a 250k house. Is this worth it or too risky because of poor trash ruining this house and not paying rent?
Sorry that this isn't about crypto by the way. Before you call me a nocoiner brainlet, I do have some.
Other urls found in this thread:
nocoiner brainlet
Pick and chose your tenants and make a contract that is bulletproof. Kids will be the real destroyers so make sure your tenants don't have kids.
From your what? Heritage? Explain?
Credit checks and background checks. Applicants pay for both.. Also never rent to a nigger or a pajeet. Niggers will destroy the place without fail. Pajeets actually make fairly loyal tenants, but if they ever move you will never get the smell of curry out. Shit literally seeps into the woodwork and the paint. No amount of shellac, no number of hours with an ozone generator, can ever get out the stink of an indian.
this
NO SECTION 8
>you will never get the smell of curry out
this
he means inheritance
Sorry I meant that when my grandfather died he left behind 300k to me.
I have a couple of rental properties. Make sure you have enough in your budget to hire a good management company. They will save you a ton of money in the long run, because they will screen tenants, deal with repairs, etc. On a single family house, you may only make $100 a month in cash flow, but remember your tenant is paying off your mortgage for you, and any appreciation is yours to keep.
Thanks for the advice!
>you will only make $100 goym
>we "repair" stuff
>be you
>visit after half a year later
>legit crack den with black mold everywhere
bro drop the 300k on scamcoins NOW. get drunk drop this shit. MONACO OR DEATH. straight monaco with bugatti and everything.
Ah yes, landlords. The original welfare queens. Stealing from people who actually work and contribute to society rather than just sitting on a deed doing fuck all to further the material conditions of the human race. You fucking parasites are worse than niggers, neck yourself
I am not planning to get a mortgage on the house so I won't make only 100 a month in cash flow.
You’d be much better off with a mortgage. Rates are under 4%. You could easily make 8-10% with that money in traditional investments, even more in crypto. There’s a reason real estate is a good investment - 5x leverage. If you have $250k cash, you could use leverage to buy $1.25mm in real estate.
Pretty sure I need an income to get a mortgage in my country(The Netherlands)
Then get a job dummy. Or get someone with an income to partner with
>NO SECTION 8
Section Ape can be a fine investment IF you understand that you're renting kennels out to animals. You buy properties in ghettos for pennies on the dollar, flip them just enough to be declared habitable (lots of used materials from Habitat for Humanity) and let chimps cook all the crack they want. The government guarantees rent. The ape may or may not be able to come up with the extra $20 they're supposed to pay a month on their own, but you don't care unless they're a real problem. (They're niggers, so they usually are... but that's irrelevant.)
Then you just don't care. Guaranteed income until the place gets raided or condemned. Let the niggers live in their own filth for a few years till the ghettonest is destroyed, then you make an insurance claim on it for the damages.
>mysterious carbon monoxide leaks killing a brood of 20 nogs is just a bonus
>not your fault they pawned the detector for crack
You want to take a loan out. Take that 300k and use it to put 20% on a 1.5MM multi family property. Higher cap rate and you’ll end up making a lot more in the long run.
>section ape
my sides lmao, some of the best advice I've seen on my many years on Veeky Forums and /pol/ desu.
>
If only I lived in the land of opportunity
>Be me
>38
>4 flats in euro land
>Retired at 30
U jelly wagecuck?
hangt er vanaf hoe je het doet, zoek een huis met weinig onderhoud en zorg er voor dat je mensen vindt met een goede stabiele baan zodat ze niet vanwege financiele problemen je niet meer kunnen betalen enzv
Why would I be jealous of someone who is a net drain on society's resources? You do realize that your nig lifestyle is propped up by people who actually create value, right?
Don't worry bro, you might get to stop working at 65-67. Just keep up all the hard work and you will be rewarded. Also, make sure your rent isn't fucking late. Us landlords know you spend most of your money on fast food and video games so there is no excuse. Clean your room too, thanks.
why the fuck would anyone mortgage a house if they have the money to buy it outright. theres no room for risky investments, bad lawsuits, theft, divorce, inflation, etc.. Imagine mortgaging your dream house, and then having a few bad investments, getting sued, or a falling income and never fully recovering enough to pay off the mortgage. that fucking hurts
I grew up in a gated community with 8 million dollar plus homes. Quite a few of my neighbors lost their homes. How the fuck does that happen? 8 million dollar homes arent backed by subprime loans. Everyone in that development had millions in investments and excellent credit. But they lost it all, and then ended up losing their home too. divorce was the biggest culprit. bad investments the second.
BUY A FUCKING HOUSE WHILE YOU HAVE THE MONEY! No matter how many millions you store away, and no matter how sure you are youll be able to pay the mortgage over its term, its always fucking safer to own it outright.
You need more than one to really get a living out of this. Also, don't automatically assume because the property is worth more that you'll get better quality tenants. They're all worthless cunts, otherwise they'd have bought something themselves.
martin says buying a house is probably the worst investment you could ever do in your life.
Careful not to discriminate in ads though. You can't legally put "No kids" in ads in the US.
It just boggles the mind that a person could have such a shitty, entitled, and frankly anti human attitude as this.
Enjoy your gibs while they last. Your day will come.
Explain how being a landlord is any different then any other passive income investment
kek
All are parasites on the working class, who create all wealth. But landlords have a special place in hell for parasitizing on a basic human need, shelter.
This might be shocking news, but plenty of landlords have jobs, some even own their own businesses that employ people. Every time I purchase a property, chances are it'll need work doing to it so someone gets work out of it.
Diversifying your sources of income isn't a bad thing.
Can you explain leverage in more detail? My brother and I have about 150k in capital between us, putting roughly half that in blue chip coins and some potential moonshots. Looking to breach 1 mil by this time next year (which is a fairly conservative estimate, actually underperforming the market imo). After that we’d like to sign power of attorney and have one of us hold the wealth to qualify for accredited investor status and buy properties outright as opposed to taking out loans to maintain investor status. Using the income generated from rent we’d like to reinvest into crowd-funded real estate and similar ventures. Is there anything wrong with this strategy?
Invest all in a shitcoin
This guy obviously has a chip on his shoulder and thinks all landlords are rich. You can't reason with people like this so don't even waste your time.
Buy a couple of student flats in a uni town and rent them out, easy peezy
that seems stupid, what if they are smokers? that would be way worse than kids
I've yet to see any of you "people" give me even one reason why landlords aren't parasites.
just make them go outside, this is pretty much the norm for any rental property
If you're me and bought a shitbox house in west LA in 2010 at rock bottom prices, rented it out for years then sold it last year for a huge profit then it's a good idea.
Market is overinflated RN and due an engineered crash if the Dems need to get rid of trump for 2020
Leverage is when you put 20% down and the bank finances 80%. This is the best thing about buying real estate. You now control the asset (you can collect rent, remodel, flip etc), for 1/5th of the price. Mortgage rate is low (3.5%), so you can invest the remaining money in stocks/cryptos/more property and get a higher return (8-100%). Any appreciation of the property is yours to keep, and if you have tenants, they are paying your mortgage payments, maintenance etc, and you get to keep any cash flow left over
>Sorry that this isn't about crypto by the way
Remember when Veeky Forums wasn't only about crypto? Pepperidge Farm remembers.
That being said, yes, it's a good investment, but you have to pick and choose the area you're buying in and especially the people you rent to. There's a huge temptation to buy a dirt cheap house and jack up the rent for profit, but you are more likely to get some scumbag living there who fucks you over. Hiring a company to manage the property will cut into your gains but they also tend to insure the property/people they rent it to, so there's that.
I'd add chinks to the list too, my house smelled like old fucking fish for months.
i dont understand this logic, as if they would never break that rule? as if I want my outside walls stained? you think the wind never blows that shit against the wall?
smokers are scum
DEFINITELY this
>section ape
nice gonna use this phrase 100k times
Okay, that makes sense. Thank you for the informative reply. Only that worries me is liquidity but I know that doesn’t especially change whether you have a mortgage or not. I’m always just worried about a housing bubble, I live in SoCal and that’s all anyone talks about when it comes to real estate “Oh, there’s gonna be a big dip in the next couple years,” they’ve been saying that for the past five years since I’ve been here and I think it’s warping my perceptions. I’d feel more comfortable paying a mortgage in full and having the property value tank versus being indebted to a bank and having the same thing happen. Of course I understand that’s just part of the risk you’re taking. I always find it ironic that I’m willing to take fairly large risks in this market but less so when it comes to real estate.
>buy/rent a warehouse
>buy loads of those expensive collector series star wars lego sets
>sell in 10 years for 500% guaranteed profit
>be wagecuck
>be a rentcuck on top of it, because too much of a sheep to do honest work in rural places
>call landlords parasites
oh i laff
not even a landlord myself, but don't delude yourself. on the great pyramid of usefulness to society, you're one of the majority pretend jobs
Invest in eth, get x2 and do both.
Can I please ask you guys for more help sorry, I am trying to escape wagecuck lol, my name is Parson on the discord (just mention me by typing it), please PM would appreciate real estate help please, anyone for that matter please help
Find a trashed home in an above average neighborhood, lowball the price as much as you can, flip it and sell it... it's an easy U$100k+ if you do it right
whats with the hundreds of tattoos all with the same stupid 69?
Retired 5 years ago at 23. It's a good feel, but difficult to relate to people sometimes, especially when every girl you've dated works a job and you don't
His failures in life are down to us. Met his type before and you can't reason with them.
Personally, I'd much rather flip houses than be a landlord anyway. Wanking bankers kinda ruined the economy though so no mortgages for the lower end anymore.
How did you do it? Crypto?