/biz/ - Business & Finance

>>25333100
>financial perspective
if your net worth isn't at least 5mm, very bad

>>25333100
Lot of mortgages in the red. Banks cants enforce due to the moratorium ending on 31/12. Don't buy till Q3-Q4 next year. There will be a lot of cheapies

Rent: Can hear people and smell their cooking. If something breaks, just call landlord ... Fixed for free. You own nothing and have built zero equity during your lease.

Own: Can do whatever the fuck you want to the place. Paint it any color. Remodel it. Trash it. Whatever. Something breaks ? You pay. You now the lawn. You do it all, but it's yours (for the most part -- property taxes).

Depends on what you want to do with your life.

>>25333100
my house has been going up 10k per year in price since I bought it, I have been basically been paid to live in my home lmao

>>25333100
Buying a house is for idiots. Just take out a $300,000 loan and put it in bitcoin. If you do this right now you will be able to buy every house in America in 3 years tops.

>>25333726
>Just take out a $300,000 loan
and how exactly do you do this with no collateral? lol you have no idea what you are talking about

>>25333726
you might have a gambling problem sir

>>25333766
>no collateral
It's called a kidney you dumbass. You don't need BOTH kidneys.

>>25333100
Up $200K on my condo over 3 years
Bought it sight unseen
You need to be early on a listing and immediately overbid the ask by 10-15%
While others are “considering”, you are positioning yourself as an easier buyer for the RE agent / owner
Look at a shitload of properties first in person so that you know what’s up
Then hunt and snipe your cash cow

>>25333100
>I'm sick of living in apartments where I can hear other people through the walls and floors constantly
oh god i know these feels,.. all too well.
its all so tiring

>>25333420
damn you think the end of next year??

Never buy a house. Buying a house is like marrying a woman that's not a virgin, only for losers. A real man buys a plot of land and gets a house built exactly as he wants it built.

>>25333677

^ this.

I own 2 properties 1 for about 5 years and the other for the last 12 months, both have gone up in value way more than my mortgage payments over that period.

Plus the feeling of coming home to your own place and not having to rely on some other cunt is worth it

Real estate has been an excellent investment for decades, still is , biz hates property because most people here can’t afford to buy one

>>25333934
>because most people here can’t afford to buy one
What kind of "person" can't afford a 20% downpayment?

>>25333420
i fucking hope so. im so sick of everything i see for sale. even shitboxes being a minimum of $250k. and they still sell quickly.
any place actually half way nice is. loser to $500k. even a the shit on ti y lots with identical cookie cutter house 5 feet away next door on all sides.
fuuuuuuck

>>25333997
>What kind of "person" can't afford a 20% downpayment?
20% down is for boomers, 3% down is all the zoomers need

>>25333924
Based

>>25333100
Remember, Diavolo still lived in run down little motel rooms even though he controlled the entire Italian drug trade.
Houses are for decadent cucks who've lost the will continue grinding.

>>25333924
Based.
>build custom house with three bedrooms and three bathrooms
>rent out two bedrooms, advertising them as "with private bathroom" to get the most probfits
>don't have to deal with the most onerous of the landlord regulations because your tenants count as mere housemates in the eyes of the law
>profit

>>25333617
I've been on both sides and now I'm ready to go back to the burden and blessings if ownership.
no full grown adult trying to live a normal, full independent life wants to be a rent cuck. no freedom, no privacy. no security no real lasting peace of mind, ever.
sure i get tired of ownership maintenance, but now after testing both sides on and off for many years, i favour the burdens of ownership over being constantly cucked by a landlord and neighbors directly on the otherside of the wall

>>25334156
looks like military barracks or a college dormatory

>>25334137
On the other hand, look at the place based Giorno was living in at the end.
https://www.youtube.com/watch?v=DAfzR0EsdoI

>>25333834
Condos are literally the worst of both worlds.
> Share your walls with the neighbors
> Must pay fees and are beholden to the (((owners association)))
> Can't just get up and move when you want
> Rules for everything
Fuck condos.

>>25334400
condo is literally just a rebadged apartment. a fucking joke.

>>25334210
>Immediately jobs to Dio afterwards
https://www.youtube.com/watch?v=ktjbT0S6K4U&t=157

>>25333924
>>25334156

lads
how much is it to build a decent house?
im thinking a few acres, 2 full bathrooms and 1 half maybe.

>>25334683
>how much is it to build a decent house?
If you think housing prices are too high you're not going to want to see what new constructions are running people now.

>>25334201
Yeah, but it doesn't fall under the same laws.

>>25334810
you can save money by building as much of it as you can on your own. and hiring pros where you need it like electrical, plumbing, septic, whatnot.
just build a 60ft x 30ft rectangular box yourself, fuck putting in wall for seperate rooms.
then pay someone to place the needed utilities inside

>>25334683
Depends on location honestly. If you live in New York it's going to be insane compared to Florida or Texas where you can get the labor done by wetbacks.

>mutts consider this wooden hut a house

>>25333797

LMAO you can just buy it back or get a new and better one later

>I'm sick of living in apartments where I can hear other people through the walls and floors constantly.
Yeah that's a good enough reason to buy. From a financial perspective it's fine, just listen to you real estate agent and inspector and if you maintain it you should see the price increase over time. Make sure to live in it for 2 years before moving so you can get the tax breaks when you sell.

>>25333100

Just build a castle with a moat and farmland

>>25333100
Just prep for the next generation in DeFi products and protocols - like www.derivadex.com - anon. You'll make money for many homes and you'll probably score this girl too.

I've lived in apartments like that and dammit, there ought to be a law. Cement. Rock wool and mandatory wall thickness. Something.

grant cardone made a good point when he said boomers will die and the market will be good for buyers..right now theres tons of people who dont want to buy houses and be tied down even if they could.

>Lot of mortgages in the red. Banks cants enforce due to the moratorium ending on 31/12. Don't buy till Q3-Q4 next year. There will be a lot of cheapies
Smart, or pure speculation?

>>25335155
Lenders are actually in a much better position than people like that think. They were the focal point for the 2008 crash and that taught them to stop doing stupid shit like no money down loans to people who obviously aren't trustworthy or reliable. Most of the "housing crisis" going on right now is renters. Homeowners with balance still on their mortgages have a lot more flexibility to just push out their term even further. When most mortgages are already 30 years you aren't in as much of a rush to collect, unlike over-leveraged amateur landlords who start dying the second a month is missed.
Also for whatever reason you are allowed to buy houses in America without being an American citizen. You can even get a mortgage without being an American citizen and use it to buy a house in the US. And a lot of foreign buyers do exactly that, along with investor buyers domestically. Which means the available housing supply isn't going up in spite of the baby boomers being a larger sized generation which is dying out. Foreign buyers, immigrants, and investors are more than making up the difference, and USD has been printed to oblivion which only makes real value assets like land and property that much more expensive in nominal terms.
If you don't already own a house my personal prediction is that you'll only be paying more and more to get a house as a new buyer from here on out.

>>25333100
Depends on your country. In Australia it’s a very good investment.

>t. Bought house for $500k beginning of 2020, now worth $690k due to renovations and market going uo

>>25335476
It's not all bad, now that WFH is an accepted thing and probably never really going away, housing doesn't have to be built in suburbs surrounding "vibrant and diverse" inner cities. So rural housing is a lot more viable, but obviously not attractive from an investor's perspective.

>>25333100
if you've got to ask here you're too dumb to realize what the world is.

>>25334965
>Just build a modern house to code bro

>>25335844
It can be done if you're dedicated enough, but you'll definitely have to bribe local inspectors to sign off on your shit even if it's perfect.

>>25334965
>fuck putting in wall for seperate rooms.
Rooms are for cucks You can make money buying small houses and basically just breaking down all the walls, fixing them up a bit and reselling them. Cramped low income stuff becomes luxurious.

>>25333420
It’s been tough for me to decide because of this. One one hand there will almost certainly be a wave of foreclosures. On the other hand, massive inflation is possible so it may be that the price does not fall as expected and interest rates on mortgages rise again. However, the thing that still makes it seem like a good idea is the fact that rent inflation will probably outpace the mortgage rate. I want a house as soon as possible but housing stock is very low and prices are at ATH. Never buy high, right?

>>25333834
>bought a condo 15% over asking in a bull real estate market
Everyone look at him and laugh

>>25336375
>the thing that still makes it seem like a good idea is the fact that rent inflation will probably outpace the mortgage rate
Yeah, mortgage rates are at historic lows, and a lot of people don't take that into account when looking at historical prices and overrating the more distant past's options compared to opportunities in more recent history.

>>25336375
>Never buy high, right?
It's a house. You're going to live in it. If your goal is to get some space between you and your neighbors, it can be worth it. Location matters a lot, try to get a real estate agent who knows about the market beyond "please buy this house so I can get a commission".

>>25333100
I bought my first house at 21. Buying my 5th next month. Still own 3 of them. Mom lives in one and mother in law lives in another one. Owning is comfy

>>25333420
Yo that will be perfect fucking timing.

>>25336784
>Location matters a lot
Elaborate.

>>25333726
Yes mr bank manager I will have 300k please. It’s okay I’ll just take it in cash

>>25335041
Take a vacation to China and get one on discount

>>25335039
Imagine being a burger and your idea of freedom is a large wendy house made of paper maché that costs half a mil

>>25337287
Some markets just have better staying power. For example, I am looking at homes in a very desirable, low population-density, coastal city in Commiefornia. People continually flock to this town as they get better jobs and try to raise families, but the city has adopted a very slow housing growth policy that ensures low supply long term, compared to bigger cities. Prices rarely tank here and rebound well when they do.

>>25333100
as long as you dont become house poor

meaning dont tie up all your net worth in a home

be at least 50% in liquid assets(stocks,crypto, bonds, cash, etc....take your pick), 50% in real estate

>>25334031
can you actually get property with 3%? im in canada and theres a minimum u need to pay i think lol not sure how it is in freedomland

>>25337287
>Location matters a lot
>Elaborate.
Imagine pretty much the same amount of land and the same sort of building built on it.
One is in a suburb 15 minutes away from Dallas TX at a time when everyone's relocating Silicon Valley to Texan cities.
The other is in Flint, Michigan.
Do you think these two properties will be similar in market value?

>>25333100
Depends on the city you live in...how much you’re spending and your income...and lastly how much btc you own. No one should be buying a house until they own at least 5 btc

>>25333852
I get it from all sides. I’ve heard so much sex while I’ve been at my current apartment I can’t wait to hopefully buy a home this coming year. Every time a new tenant comes in its a waiting game till I wake up with moaning and cheeks clapping.