Home ownership

>>buy one house. wagecuck until you die to pay property taxes
>>finance 3 houses with 1/3 down payment, live in 1, rent out 2. now other wagecucks are paying your prop taxes and buying you 1080Ti

I'm considering "house hacking". You make a down payment for a multi-family house or a townhouse with 3+ units and use one of the units as a primary residence, then rent out the other units. Your tenants will basically pay off your mortgage and you will live there for free. Possibly with extra income to pay for your utilities and food. It also has pretty substantial tax benefits. Then your property appreciates in value over time.

Also I think home home ownership is pretty dumb (unless your renting it to others). You have to think in terms of risk vs reward. Average rate of return vs equity, fixed income, ect. In terms of the risk in real estate it's generally to high. Most of your portfolio is tied up in one asset providing little to no diversification. IDK why the fuck any financial planner would advise this. Most of your capital being tied up in one industry, one asset and in one geographic location. Sound pretty dumb.

>rent/buy apartment instead (let's be real here you don't need a fucking house you NEET)
>spend the money you saved on a house to invest in more shitcoins
>rinse repeat until you can buy 10 mansions

FLAWLESS

With 200k down I can control 1m in real estate. I would say that's leverage. Asset:1m = debt: 800k + 200k equity

Imo it all depends on timing of the market and what your needs are. Ones living situation is often their most expensive expense. So if you can fix it at a relatively low rate than why not?

I bought my house in the housing downturn a few years ago in Cali. My house mortgage was only a hundred dollars more a month than ppl apartment rents. 5 years later apartments have gone up almost 40%. Out here rent won't be going down anytime soon... Regardless the cost for my mortgage will never change.

Only downside is your responsible for repairs and all the others shit that comes along with it

that's an option too for extra cash flow, BUT remember that dealing with tenants can be a pain in the ass

>buying an apartment
>2018

I rather buy an apartment complex with facilities and security guards in a crime-free area

Congratulations!! This is the stupidest shit I’ve heard all fucking year.
You’ve got to be actually retarded to not see the advantages of real estate over stocks, bonds, whatever.
Sure it’s not crypto, but it’s one of the only investments that you can control.
Get out of here and stay poor, poojeet

Holy shit the answers I see on here amaze me . Really helps me to understand how retarded most of biz are. Most are probably kids with no sense anyways.

Owning your own home builds equity and almost always builds value.

>pay rent and lose money
< pay mortgage and it builds equity that you can get back if you want .

The only reason people should buy a house is because they don't have the discipline to save. Most people will miss their monthly saving contributions but they likely won't miss a mortgage payment.

You must be a kid or a tard.

Purchasing a house is more useful for your family in the long run, if you're sterile then feel free to rent.

It's not for everyone, you can hire a management agency that charges up to 10%, but that kinda defeats the purpose.

think long term, if you are buying a house, buy where white people are fleeing to

Owning one home doesn’t do anything but line the bank’s pockets with more money.
The amount of equity that you build is negligible unless you get in at the bottom of the market.

Cont...

I felt the same way as a lot of ppl have posted... But now I'm happy I did. If you can afford taxes and repairs it's a no brainer. There r tax right offs. You have a lot more control over your finances... I have coworkers getting 2nd jobs to cover their rent increases. The place I was renting before my place was 1200... Now it's almost 1900. It's nuts.

Chicks dig it too.

Not when the housing bubble will inevitably pop within a few years

There are other ways of building equity....like buying equities. Renting is $300 a month cheaper than a mortgage where I like so I will never be buying a house in my location as I save that money and invest it in etf's

Where do you think your rent money goes? Oh wait your prolly still living in your moms basement waiting for tendies

I've also been hearing that it will "pop" again, maybe in 2 years. Hopefully just in time when we "make it", whatever that means to you.

Lol. Do you know it's like 10x harder to buy a house now. Lol that comment you made tells me you don't own a home.

That reasoning is actually sound. That is if prices have remained relatively stable?

You're probably paying far more for your house every month than you're paying rent right now. Just because there's no rent doesn't mean you don't have a shitload of recurring costs.

Don’t buy a house and get kicked out by chinks when they feel like cashing out. If you have a family good luck finding a decent rental in hot markets.

t. Vancouver gook Realtor

>leveraging to invest 500% of your net worth on an volatile """assert""" with low liquidity and high transaction fees
I hope none of you are retarded enough to actually do this.

Well where I live there is a premium on rent so it's actually alot more to rent. It's harder to qualify for a house now so rentals are more common.

Rent you pay other people's mortgage. That makes no sense.

Lol, not everyone is flipping houses for profit. Many people just want to live in them. Did you live in apartments throughout your whole life?

rent it out for passive income.

>Renting is cheaper than owning
Jesus Christ how. Somebody has a mortgage on the place being rented, they need rent to exceed the mortgage. What a terrifying market to buy in.

>not plausible when mortgage repayments are cheaper than rent.

Why wouldn't owning a reit or reoc be better than real estate? Down payment on a house in 100k where I live and the average house cost is 600k . How the fuck do I get diversified with that amount of capital tied up in a single asset? What if the community or city goes to shit?

> Out here rent won't be going down anytime soon
Until wild nigger coincidentally appears

where do you live where this could be true?

>housing bubble meme
There’s waaaay too many foreigners nowadays for the housing bubble to burst. Why would chinese be scooping up every urban house if the bubble existed

This, its a verifiable fact the more minorities move in the lower your land will be valued.

Canadian economists have been warning us for years, chinese buying up whole cities.

>Renting is $300 a month cheaper than a mortgage.
kys

You do understand that landlords rent out a property for more than their mortgage? Saying an exact dollar amount shows you have no clue what you are talking about, every loan will be different as well as the rent in the area. Calculating return is huge when it comes to rental properties. Renting is always more expensive, it just involves less risk (no maintenance fees) you still have to pay property taxes but it's through your rent.

source: i've been a landlord for 7 years. own and manage 3 properties.

Sorry not all of us want to live in hongcouver.

Unironically made 400k in one year in Vancouver real estate in cash and equity selling one condo and buying a house. Get on my level bro.

>chinese buying ATH
>this proves a bubble exists

No niggers or spics though. In a expensive neighbourhood in the suburb it is exclusively Asian and white.

If renting is cheaper than ownership, why would landlords rent property to other people at a loss?

What would prevent landlords from jacking the rent to astronomical levels?

Renting is just flushing money down the toilet.

>buys house
>government decides to build section 8 apartment nearby
>least im not a rent cuck!

Same is happening here in NZ, but seems like the complete opposite,

>tfw people here are retarded enough to agree to rent a sub-standard 3 bedroom home for $1,100 a week

>use part of my gains to pay for property in cash
>people call me stupid for not doing the mortgage meme
>still have enough left over to make gains with
>own my house outright
If I'm a brainlet I'm the most comfy brainlet ever, enjoy stressing about getting liquidated and losing your residence.

This is happening in my city, landlords are cashflow negative but the capital appreciation makes up for it.

Oh wow you manage 3 WHOLE PROPERTIES? You're deluded if you think your amateur property management sidejob can compete efficiently with billion dollar management companies with massive amounts of capital for research, diversification and liquidity. You would be much better off not wasting your time with your hobby side job and just invest in a REIT.

I have a couple hundred k in crypto gains. I want to cash out ~150k and purchase a new townhouse directly from a developer. Hoping I can get a good deal by cutting out the realtor and paying in cash. Also who wants to live in a used place.

This is false developer has their own realtor and they just pocket both commissions.

t. Realtor.

>Purchase a new townhouse directly from a developer
I would never buy a place that's almost certainly going to have a gay HOA built into the deed. Enjoy your dictatorship of PTA soccer mom busybodies.

>You would be much better off not wasting your time with your hobby side job and just invest in a REIT.
thats why i only have 3. I got them at a good price between 2009-2012. The return on rentals after that went to shit but mine are still giving me a good return. Never said i was top shit so i think YOU are the deluded fuck. Just saying from personal experience or experience of others i know with rental properties (atleast sole proprietors) charge more for rent than what their mortgage is.

Not sure what is up with your sideways ass post just stating what most grown ups know. Rent is usually more than mortgages, thats the point of having an investment property.

Also I don't have a job, i trade stocks, crypto and rent out houses...