Real Estate Thread

I want to start a compound like Bountiful

look into REAL

This one

Going to buy a shit apartment and rent it out. Flip it after a few years and buy a house

I bought my first house at 19. You’re not too young. ;)

yeah but how the fuck do i do it?

Well since we are dreaming I would just want a cheap condo to live in and volunteer and donate as much money as I could give away before I die. Of course this is just dreaming because I can't make it as I only have $10 to invest in crypto if I skip a meal.

Lol what the fuck

You can also get into Real Estate by with "Real Estate Investment Trusts" or REIFs for short. They are a big thing here in Australia but should apply for your location.

Saw it shill on biz around the ICO. Never looked into but, is it ran by pajeets? What it's purpose?

I've given up on ever owning a home. I'm just going to live with my parents until they die.

Yo lads. 24 yrs old and live in glorious cheap Midwest.

>normie job
>10 rental units
>average net income $450 per month each
>all are run by a property manager, I don’t do shit
>$4500 per month hands-free
>buying a new unit every 2-3 months now
>easy $10k monthly soon
>bout to retire by age 26

I have money in crypto and I hope that moons, but real estate is easy money man.

With places like that it's unlike someone would live within. You are buying the land for development a new building, but some hipster might buy it for reno

You can make it user, don't give up yet

Currently own a 3/2.5 renting for 1500 with a 950 mortgage, and living in a 4/3.5.

Saving up for probably a triplex to purchase on an fha at 3.5% down. All you need to do is receive mail to prove residency and refinance out in a few months, repeat.

Even apartments are like 500k in a good area...

Live somewhere cheap and awesome (I live in Idaho). Go to the bank, ask about the First Time Homebuyers Program which helps with a down payment and gives you a better interest rate, especially when your credit is weak, shop around using the MLS, buy a house. It’s actually not hard, just a lot of paperwork and technically jargon. After you buy one and figure out the process, it’s a breeze.

...

i'm saving 10 million and franchising a twin peaks or other quasi-prostitution establishment (not a strip club though)

basically my plan is to live off of this as passive income and fuck my employees

Don't know much honestly just remember seeing it shilled a while back. According to their Medium page
>Through the REAL platform, both investors and property owners will be brought together in one “marketplace” of sorts. Property owners are able to “tokenize” their real estate holdings, thus making them more liquid, and users are able to use REAL tokens to gain real ownership over the property. The REAL team will also be selecting, acquiring and managing a variety of real estate properties all over the world. The team aims to employ three value-investment philosophies to their acquisition strategy:

>“Buy-to-lease” commercial properties: These are commercial properties that the REAL team will purchase and lease out. The goal is to recoup your original investment through leasing, while the asset appreciates in value over time.
>“Buy-to-sell” flip properties: These are commercial or residential properties that, for one reason or another, are being sold at a discount. Generally, the purchase of the property will require some sort of further investment to flip the property, but this is not always the case. Buying low and selling high (and quickly) is the goal when using this strategy.
>“Loan-note” investments: These investments are “paper” investments, meaning, the REAL team would be buying the loan on some property with the goal of renegotiating the terms of the loan. Often the previous owner has failed to make payments, or is in foreclosure, so the lessor will accept less than the original loan to ensure newly negotiated payments are made on time and in full.

Until the housing market collapses and you’re suck with 6 rentals you cannot afford lol

>selling a bubble you can exit at any time
>for a bubble you inevitably get trapped in

Enjoy your sky high property tax

What is the point of getting a place and having another person as a room mate? The lower cost of rent or utilities is so insignificant its really not that good. Especially if you cant trust the person, which you cant since you are getting them off craigslist. Just get a 1 or 2 bedroom and dont get a room mate.

t. live alone in a 2 bedroom condo

>fuck my employees
Likely larping, but LOL. That would be fun to watch in court

That's awesome, I'd love to do this kind of shit. But I'm also wondering about if happens. Especially if I were to say start paying a mortgage on it and then suddenly can't find renters. How fucked would you be? How do you anticipate that kind of event?

i wouldn't be satisfied until i hit 500k annual income desu

>fun to watch in court
faggot detected. and yeah i'd really like to see some skeezer try to sue a millionaire and see how long that shit lasts for

try the court of public opinion, where some pimp will have you whacked

Can someone explain how the house can be worth so much and yet the neighbourhood looks like its in total disarray. I get that its small, but wouldn‘t someone who paid that much atleast maintain it

Land value, location is basiclly the good thing about that land.

this

I'm at just over 7k/mo and even though its more than any of my peers I feel woefully underachieving. even at such a young age I KNOW I can be making more

again, you're a faggot and if you think women aren't getting dicked down by their bosses on the reg and that this isn't the way nature works you're just a deluded faggot

consider suicide. youre not cut out for this shit

You guys are retarded if you want to go after the regular lease market. Why?

>buy a home for over inflated price
>go through the trouble of finding renters you can trust wont fuck your place up but also pay rent and not lose their job and either evict them or they squat until you can legally remove them
>suing people for these costs back will cost you even more money and likely wont see a return for a long time

Allow me to counter:
>Find a condo/apartment/home that is relatively cheap in a tourist city
>Make sure it is strategically located near things tourists are there for
>Furnish it completely
>Smart locks
>Smart temp control
>List on airbnb and become airbnb slumlord
>100$ a night, 3 night minimum stay with 50$ cleaning fee
>Roughly 2400/month guaranteed as long as it isnt a shit tourist city
>There are always people from different countries visiting ensuring steady short term rentals
>Can easily raise nightly prices for holidays like NYE, Christmas, MDW, etc
>Having insurance for all of this is cheap and easy to get
>Much easier to remove potential squatters. Literally could just show up with a gun and force them off your property if you want and have balls (Especially if they are foreign and not savvy with the law)
>Your property is now a business asset. This is important. Form an LLC around your short term rental holdings
>Write off costs of running these. Think cost to furnish, mortgage, cost of utilities, fees paid to airbnb, etc
Why arent you doing this anons?

Well that's what I'm trying to work out. It's the financial incentive, but I'd rather do what the other anons are talking about with buying 4br houses or whatever and renting the entire things out. Might as well go big and turn it into passive income.

However until then, I have good credit but not a lot of capital, and living with a single roommate while owning 2 of the bedrooms with my gf would establish basically that it's our apartment, and we're essentially Airbnb'ing out the last room to offset our own rent cost. We could pay $600/mo for a small 1br, which is ok, or pay $33 more per person per month, to rent out a 3br while having extra space for ourselves in the 3rd room, and getting the experience of being somewhat-landlords. Bad idea? I could definitely use advice

A good property management company can avoid 99% of those issues

>buying real estate
>before the second real estate bubble pops

True. Absolutely. But buying a home to lease it out is fucking shit tier in the new age of a sharing economy. All of the new valuable companies dont own shit. Uber, lyft airbnb, etc. Take advantage of what they saw. You'll make more than 2-3x doing short term rentals than being a typical landlord. And you'll have WAY more tax incentives to do so.

I'm 24. I only ever had 1 room mate in my life. Good friend, but I knew he would fail. I made enough money to cover things on my own before I even signed the lease with him. He failed, and left. All good. What if your room mate fails? Can you cover it? Are you ok with that? What if they are on a lease with you and refuse to leave? You cant remove them legally. Keep that in mind. Dont fucking bother honestly. Just get a place you can cover yourself. If you really want the three bedroom you can go the airbnb route if you live in a tourist city. Rent out the room make some extra money.

Well fuck user the ideas in this thread just keep getting better

I'm actually in the DC metro area so maybe if I could get the right kind of loan for a place close to the museums or any of that silly shit in downtown DC, that could be a real winner.

I'm intrigued by the more business-y aspect though. How is actually airbnb'ing so much better than actually being a traditional landlord?

Allow me to counter

>own mid level home in decent area
>rent to middle aged married lady from Hong Kong.
>important distinction as Hong Kong hate mainland Chinese and go out of their way to be the opposite. Clean, friendly, apologetic.
>see her once or twice a year to change light bulbs
>earn less money than you but virtually no work required by me
>spend the rest of my time getting to lambo land with my crypto senpai.

buy or rent

You are based, this actually makes a ton of sense when you put it that way. I was reading Kevin Kelly's The Inevitable and one of the chapters is dedicated to the sharing economy you're talking about, with the Uber, Lyft, AirBnB etc companies and how we'll only see much more of that in the future.

I guess that's partially why crypto is taking off too, it's just an extension of that whole decentralized paradigm made possible by the interwebz in this day & age.

Thanks, I'm gonna seriously consider looking into airbnb'ing now. Coincidentally my dad just bought an incredibly historic house in my home city and is going to airbnb it out, expecting big returns from it due to how (relatively) famous it is. I'll have to try & squeeze some advice out of him soon

best time to buy, right? lol

I'm looking to buy a home but a bit afraid everything is overvalued now and going to crash.

Because then I have to be an AirBnBitch and maintain a super stellar review rating. Or I can just buy a 4 plex and rent it out because it's really not hard to be a landlord.

The return. Easily. You can even find new startups that handle short term rentals as their specialty. So you wont even need to handle the listing and over turning the place like a hotel does.

As a traditional landlord you're going to make a fixed income. Probably between 1k-2k a month for 12 months until they move out and you wait 1-2 months to find a new tenant. Thats 1-2 months of it sitting. You paying property taxes. You missing out on potential income. Why bother? Seriously, why? What if they cook meth in your place? The police will seize the property indefinitely until they want to give it back to you, then you have to pay to have the place cleaned and resurfaced. Thats a night mare. They could ruin your plumbing, walls, etc Of course any short term renter could feasibly do the same. But its FAR less likely.

The advantage you have tho is a full home to give to someone on vacation. A garage (hopefully) kitchen, extra rooms, can do their laundry, etc. Set up an easy brochure to email them with info about the neighborhood, Coffee shops, restaurants, malls, shopping, etc nearby.

Think of it this way. Call hotels, ask their prices. Figure out how much they are making per room per day on a given month. Figure out their pricing strategy because you will mimic it. Its extremely easy.

I live in Vegas so I'll talk about the market here. Of course hotels are huge here and theres thousands of rooms, but their prices are always expensive as fuck. Its rare for a room anywhere on the strip to be under 100, and if it is its literally when no one is in town and its shit tier excalibur or circus circus. The rest of the year its typical for a room to be between 130-300$/night depending on lots of factors, like holidays, conventions etc.

Now you can EASILY find condos for sale right now for 50-100k within 5 miles of the strip. Closer the better of course. You rent the condo for 100/night as base price.

>I'm looking to buy a home but a bit afraid everything is overvalued now and going to crash.
buy for cash flow, not home value.

>away for college
>dad decided to rent out a portion of the house to some guy and his girlfriend for $700 a month (weekly payments), the entire mortgage payment
>tell him to get a contract a year ago and deposit
>guy moves out this week
>doesn't pay last two payments
people are scum

Cont.

On holidays like EDC/NYE you can massively raise prices. Everyone else does. Have a 3 bedroom home or condo? 1k/night for a group of kids to go rave their minds out. Much cheaper for 15 kids to get a home for 1k/night instead of splitting 5 rooms for 400/night.

There are companies that specialize in short term rentals at this point. If you dont want to play the game and get good reviews let them handle it. Its easy as fuck either way. Just make sure your place is nice and clean and you are on time with shit and friendly to people coming and going. Give them a prepared brochure or pamphlet you made to educate them on the area if they want to go dining, shopping, etc.

Hey if you dont want to work a bit harder for much more in returns I wont blame you. Finding a tenant like that is invaluable. But they are the exception, not the rule. Most tenants arent going to respect your property. I rent my unit because its insanely over priced to buy it. Also the HOA fees for the owner are 392/month FUCKING TOP KEK HES GETTING RAPED. But point is I have only the necessary respect for the unit. I dont go out of my way to clean the plumbing, or keep the place as clean as I should especially since I'm moving out in May. Most people have this view.

and I think the return on short term rentals is small compared to what you can do with a 4 plex. I've done the short term rental game in chandler and scottsdale. it's nice for 9 months out of the year. but cash flow is king. i can leverage that 4 plex much easier than 4 condos with hoas. now I'm owning a 16 unit apartment complex. i think vegas is a special situation. we get barret jackson, open, spring training, etc. just not enough for consistency. whatever works in your market. I see a surplus of 250-400k investor homes though that I'm itching to hop on once AZ fizzles out

just going to go completely rural out in bumfuck nowhere. i'll live in a trailer if I have to as long as i get to own the property

Dropshipping?

>Scottsdale
You know how many cougars and successful milfs I've met from scottsdale? The concentration of money is insane. But I've never been to scottsdale myself. I have no reason to. I figure the short term rental market there isnt really big, as you said. But theres no stopping anyone from scooping up cheap as fuck property in Vegas or other tourist cities for short term rentals. The 4plx and 2plx strategy has run its course for the most part. You cant join a late market and make maximum gains. Its ok, not bad. But putting your money into an emerging market is so much better. And if you dont like it, you still own the real estate and can fall back on typical leasing. Theres really no loss.

Do a hypothetical,pretend that you had the worst case scenario type room mate that you needed to kick out, then look at the rental laws/land lord laws of the your state.

Have in mind the exact type of person that you want to live with and tailor your ad to find that person.

Having a GF would give you two the "house advantage" you have to be the right kind of person to do it (sociable) if it can work for you it isn't all that bad.

Also look for a house that has a good design for it as well, privacy our a basement you could figure it out.

Literally what I do lol. Isn't bad as long as you aren't high maintenance

Wtf do you niggers do for work?