While this is somewhat of a Veeky Forums subject, this place is basically a crypto board.
Do you think there is enough interest to try and get Veeky Forums to start a /property/ board, discussing renovations, planning, rental yields, up and coming locations etc.
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Make a general like the stock guys with /smg/, maybe get a Trump image macro to carve out a visual identity and a nice introductory copypasta
Just don't give up after it dies early a couple of times.
You'll also get hazed by coiners a bit, but if you give up on the first hurdle then you're not cut for this shit so we did you a favor.
Have some jailbait as an incentive
I agree; with all above points. I'd totally lurk it, No tripfags tho.. Fuck that gay shit.
Which coin is that?
60% of Veeky Forums are high school and college kids who think they will get a lambo with 100 USD. 35% of anime masturbating failed adults who want to escape poverty by putting their shitty income in LINK.
Nobody owns property here.
I'll even get the ball rolling
In my country, foreclosure auctions are great shit for flips, the bank just doesn't care how much it gets since it probably already turned a profit (the "losses" from unpaid load interest are more like unrealized profits rather than actual losses).
Find out where these auctions are held in your area and just lurk a bit, here it's a public forum where they post the auctions on a board (so only people physically there can get in to the action)
pros:
> You can make an easy 10-15% if you don't even bother with renovating and just throw it into a real state agent's lap
cons:
>You have to have the money upfront
At least that's how it goes here
>pic related, hint where 'here' is
This,
Youre a saint
What countries are good options? My country is a complete bubble so I was hoping to find a decent market somewhere in Europe
>nobody owns property here
Two houses and counting, user. Interested in this
Theres not enough interest on Veeky Forums for a housing general or board.
Its a meme that renting is better than owning and you need a niche skill set to making flipping properties viable.
Real estate is good but most people on Veeky Forums are larpers neets so its not an option to them.
I’m very interested in this topic. OP, if you keep it going, I will lurk frequently.
Tell me your secrets.
Will a bank give me a mortgage if I have no job, no work history, but 60k in cash? Lol
There are more cons than just that.
Foreclosures are as is but when you want to sell it you will be required to clean it out and have it presentable or you will be giving all of your profits to a realtor.
Your country might be different but the mark down for foreclosures in the united states are between 5-10% and you could be waiting months if you want to sell it at market price without cleaning it out and repairing it.
Realtors collect 6% of the market price when you go through them.
Cheers for the advice gents.
I am something of a coiner myself, but everything I do is with the intent of building myself a property portfolio.
I own no property myself yet - I have been a self employed builder (bitch to get a mortgage), but I am just about to start wagecucking again (organising building maintenance) - decent-ish pay, job in a good area.
I've identified several things within my price range with work needed, and I have the skills/knowledge to do a lot of stuff myself.
In UK, we have property auctions too - much easier if you have cash up front, but it is also possible to get a mortgage 'in principle' from your bank for one. I feel this is quite risky though - you'll still have to pay a % of the hammer price on winning the auction, and if the bank renege on the deal, then you're fucked.
Banks typically lend 4.5x your salary - so no, unless you land some kind of employment for a while. Depending on where you are, you could possibly flip a house with that, rinse and repeat. There are even areas in the UK (Burnley, Newcastle, Wales) where you can pick something up freehold for £20-30k
Yea I figured in more efficient markets the margins are thinner.
Here you can snipe deals under the price for the land alone kek
Italy, France, Spain - Some nice rural places can be very cheap, and profitable if you're willing to Airbnb/holiday let them.
There are literally whole villages/farms in certain areas around Europe that the local council will give to you if you can renovate them and generate tourism in the area. Obviously this needs a bit more expertise than simply flipping houses though.
>Banks typically lend 4.5x your salary
Can I lie about m salary? I’m self employed in a sense but my income is sporadic.
It doesn't matter if your income is sporadic, they take into account your yearly profit.
You can manipulate your earnings upwards by not claiming expenses, so your profit is higher. If you have a creative accountant, they are able to do something which is questionable - but there is risk involved if you get found out.
For anyone who is interested in developing some mad shit (UK) such as lighthouses, nuclear bunkers, public toilets etc. this site is good. They occasionally crowdfund to buy multi-property settlements too.
If you don't have a fixed income, good luck getting a loan from a bank
I plan on living off rent from homes
3 homes of which 2 are in Milan and 1 London center, I certainly won't be super rich off it but it's better than being a wage-slave
The bank won't give you a mortgage most likely. There's no secret, inherited money and bought a cheap house. Fixed it up and renting it. Also have savings and a small mortgage on another that will be paid off in 5 to 10 years. I could sell the house now or use it and the other as the basis on a loan for a third I think.
It's not as easy as people think to find a property that is cheap enough for profit but not a wreck. Auctions and foreclosures are the best way I found but there are risks in buying a house at auction. Banks don't like to lend without a bunch of paperwork that doesn't always get done and the legal protections of buying from market don't always apply. As with most things out takes money to make money. I got lucky when my gran died. I am still a wagecuck but am approaching the point where I can retire by 40 of shit doesn't go tits up.
>>>/dyi/
i think
fatfinger fuck
That is the dream. No wagecucking, but management of properties for something to keep you occupied.
Seems like a pretty good portfolio already. Are these mortgage free, or are you still paying them off?
Mortgage free, all 3 of them
I didn't "earn" them in any way, I just inherited them
Renting them would total something around 3-4k euros per month, I was thinking about doing short-term renting (airbnb style) but I don't know if it's worth the hassle, maybe it's just netter renting them per year.
buy in las vegas, rents for apartments cost more than my mortgage on a townhome, nuts market inefficiencies.
Are you planning on expanding this portfolio? That is a fucking good income, but as you say, airbnb would be a ballache if you're not from the area, unless employ a management company to sort everything out for you.
If I was in your situation, I would personally buy somewhere with the income like pic related.
Outbuildings/annexe, touristy area. Live comfy in the annexe while managing the house as a holiday let.
This is certainly not for everyone, but given the money it can generate, I'd certainly give it a go.
Where are you based, user?
Pic related
Yeah I plan on buying a small house to rent near Bocconi (most important economics/finance Uni in Milan with lots of foreign students), but I still don't know for sure...Prices are in the 200k range for a small house (50-60 mq2) which isn't so much compared to the average prices of Milan.
The fact that most of the students from Bocconi aren't from Milan and many of them are foreigners would possibly give me the chance to rent it for 1k per month, summed to the houses already rented the possible income would be more on the 5k range.
My only "problem" would be paying taxes, I have a residency in the UK but I have an EU citizenship, therefore I'd have to pay taxes on my second home in my home country and I'd have to pay taxes in the UK.
I should speak to an accountant when I'm in the UK to inform myself and I wouldn't mind buying another house maybe even in the UK (no more London cause they cost too much)
Soo OP there's interest
Now follow Godspeed
I have an inheritance of 1/2 of 1/4 of a house, so speak for yourself pleb.
Good idea. I've seen articles about people doing this in the UK and making money specifically by renting to Chinese students.
Try looking at places like Manchester/Leeds/Birmingham - far cheaper than London, good chance for yields + potential price boom.
Noted. I shall make a /propgen/ from now on.
Pic related