/biz/ - Business & Finance

We have no choice. We either adapt or die. I didn't want to be a dick head corporate slave, but it allowed me to triple my salary and gave me money to invest, pay off my house, etc.

>>53921402
who u think raised us lil nigga fr? no cap u tweakin if you cud not see it from a mile away on god.

>>53921402
Millennials are boomers in denial. Privileged and rich, they pretend to have it bad and blame their problems on everyone else.

>>53921416
It's funny how hard you seethe at your parents, despite being the spitting image. It makes me sick.

>>53921402
>everyone thinks we can suddenly replace single family with multi family with no consequences on schools, services, infrastructure, and taxes

>>53921402
>Spend $100k to buy the property
>Put 2m into the property
>Only be able to get $600 a month for each unit
>Repair bills sky high because it’s a 100 year old building not designed for that their intending to use it for
>Bank realized this is retarded calls loan due
>These idiots Dave Ramsey themselves and go bankrupt

Yeah I’m sure this will work....

>>53921413
we absolutely have a choice. as millenials we all got the chance to put money in
>web 1.0 (tight but some of us did)
>bitcoin
>ethereum
or build businesses on the internet
access to information has been greater than ever
there is no need to be unethical to survive
"adapt or die" is nigger mantra. it's only ever used to protect cognitive dissonance, bad people refusing to accept they're bad people at heart who'd rather be evil out of laziness than take slightly more effort to be a good person

>>53921439
>get loan to do all the work
>the repayments are covered by rents and leave some profit and money to set aside for repairs
Its as easy as that. 100 year old building doesn't matter as long as they do a good job redeveloping it.

>>53921402
Listen here. We’re the boomers now.

>>53921557
Anon, do you think all of those things you listed have no consequences? You're just as bad, don't kid yourself.

>>53921426
The only people unironically seething about "boomers" is you fucking zoomer fags. Millennials just roll with the punches and figure shit out along the way. Most of us knew that we'd have to sell out sooner or later. Anyway, enjoy the ride.

Repurposing schools (particularly ones from the early 20th century) into apartment buildings is nothing new and this thread proves how many underage morons are frequenting this board.

>>53921597
>100 year old building doesn't matter
lol. lmao even.

>>53921418
>millennials
>rich

Because we're like 35 now. Also don't pretend that this is even a significant minority of our generation, richfags only.

>>53921418
>>53924030
>

>>53921402
The abyss gazes back I reckon.

>>53924103
Thanks, would've posted that if I weren't in bed

>>53921402

This increases the housing supply, which is the exact opposite of what boomers do.

Entropy and thermodynamics. Look up Meditations on Moloch. There's no escape

>>53921439
>>53921597
Post tenants and rents. There will be no follow up on this story because it will end in disaster.

>>53921418
They HAD it bad because 2008 happened as they were entering the work force. Any millennials that haven't made it by now aren't the brightest.

>>53923990
That might be a long time in Muttland but my parents' home is nearly 100 years old and it's probably in better condition than whatever cardboard and popsicle stick hut you live in.

>>53924451
Nigga I was still in school in 2008 but go ahead and tell us how great recession and pandemic made it easy for us

>>53921402
Why would you turn it into apartments instead of having it as your house

>>53921418
No, Millennials are poorer Boomers. Contrary to media propaganda, they are practically clones of Boomers in mentality. That is why Boomers and Millennials families are able to live together so long and so well. Gen X keeps kicking their rebellious Zoomers out once they hit 18 but Boomers basically did not kick out Millennials. Gen X created rebellious woke generation called Zoomers. Boomers created an entitled generation called Millennials. They sort of mirror their parents don't you think?

>>53921418
Maybe millennials are retarded and zoomers are even more retarded, ever thought of that?

>>53921402
Why do you say that? Because they bought a building and repurposed it for something useful like housing? Actual boomers wouldn’t want competing rentals driving down the cost

>>53924610
Utility bills? Taxes? Noy sure if you own a home, but it wouldn't be cheap to have this as your house.

>>53921402

I don't see the problem. Nobody was doing anything with the property and this creates a lot more housing availability in the area.

>>53924467
Americans will never understand this.

>t. living in 110 year old city center stone property

>>53921402
Some one needs to catch the falling knife.

>>53924904
I hate that there's truth to this. I'm a core millennial with core boomer parents. We're basically boomers with less fortunes than they had, so we're innately extra spiteful despite a good childhood.

>>53921402
They're like boomers but afraid of sex

>>53921418
>Privileged and rich
no aaaaaand nope.

>>53921418
You're pretty much right. Except
>rich
Millennials who entered the workforce and then got cut off from their parents automatically lost all their privileges.
We had it bad compared to boomers but not as bad as the average gen. Yet it seems there are a lot of us that didn't get the "now it's your problem" memo

>>53921402

Always were. Ever noticed that everything is a rehash, reboot, or remake shit that was enjoyed by millennials (pokemon, Naruto, DBZ, SpongeBob, lord of the rings, marvel, etc). That's Because they refused to grow up and hand the cultural reins to the next generation the same way the boomers refused to hand over the economy.

Millennials have always been poor boomers. The ones that get some money become true boomers. The 30 year old boomer meme from 2018 is just a millennial that bought a house at the bottom of the housing crash. They are true boomers, economically speaking, and adopt all the same behaviors.

>>53924103
>silent hands off assets to boomers
>boomers do the same except not really lol jk fuck you got mine
Based

>>53921402
reminder that each american generation will be worse than the last until collapse

>>53921418

They aren't rich, but they are privileged. That makes them more like boomers. The same way boomers squandered their economic opportunities so too did the millennials. They had a solid decade to buy a house post crash at rock bottom interest rates and low prices, but they didn't. They had from 2008-2011 before the prices started going up, and then another 5 years of gradual growth where they could see that things were getting more expensive, and that they needed to get in before it's too late. They had all sorts of opportunity, and they blew it. They blame it all on the great recession and their parents, just like how the boomers cry about the OPEC crisis making their gas a little more expensive.

I am become boomer, pilferer of societies.

give these guys a pass they created new housing units.. it's not as they bought up a bunch of residential homes and then started gouging everyone.. there should be special loans or tax credits for similar projects

>>53921557
based and principalpilled

>>53923990
>>53924365
There's houses from the 1920s and older in my city selling for around and over 1 million dollars, theres are buildings from 1850s and older that are still in use. If a building is well constructed from brick and steel then its gae isn't much of an issue if its been well looked after for its life time. The Empire state building isn't much younger.

>>53927735
>bro just have 100k saved up for down-payment by the time you're 25 and buy during bailout season
It's that simple you avacado niggers

>>53927687
Boomers are set to hand down 70 trillion worldwide I think when they die. A good chunk of them in the United States at least never will because their kids disowned them for being conservative. Millennials like that deserve what they get.

>>53927812

FHA loans were 3.5% down. You could have gotten into a $200,000 property for $7,000 down, and then the federal government would have given you $8,000 for the first time homebuyer credit.

The barrier to entry was literally a pizza delivery job. I know this because that's the job I had at the time.

Exactly what I'm talking about. Legitimate entitlement. If not entitlement, then complete fucking ignorance to the opportunity available to them.

>>53927761
We should mirror the Japanese housing and created small rentals that are affordable to part time men I don’t care about the pod meme

>>53927863

Don't make excuses for them. Their kids won't get anything because their parents will blow it on a 20 year long perpetual vacation. They care not for legacy. None of their behavior up to this point would indicate otherwise.

They will reverse mortgage their home to get money for travel. Their home will sit idle, not even collecting rent. They will continue to pay property taxes on it while the bank slowly purchases the property from them.

I know this because it's literally what my parents are doing, even after they promised they'd be around to help watch their grandkids if I stayed local, rather than going after a better paying job in another state.

>>53921402
Imagine living where all those childhood horrors of dx/dy and comma splices were created.

>>53921402
Knowing my own generation, it’s probably low income housing for PoC only.

>>53928022
Whats wrong with that honest question? Any increase in supply is always welcome because then prices have no choice but to come down

>>53924904
That girl looks like frodo baggins

>>53927915
They get reverse mortgages because their kids are garbage. My mom and her fiance (no blood relation to me, only met me two years ago and is a multi-millionaire) want to leave everything in their name to me and she cut off my older brother and sister who have acted entitled their entire lives, while I never asked for anything. Hell her fiance paid off everything for his daughter until her early 20s including college and now she is suing him for whatever she can. Just don’t be a horrible person and treat your parents like they are a piggy bank and you can easily be set for life when they pass in most cases.

>>53921402
This is a good idea
Those old buildings are beautiful
If we could get a bunch of rw guys together we could have 31 families and a beautiful community

>>53928149

Dude, do you even listen to yourself? In your scenario they're not taking out reverse mortgages at all. They are not spending away all their wealth. They are not the same kind of person. The fiance is an ultra rare, top 1-2% multi-millionaire boomer, and is in no way indicative of the generation as a whole.

By your own admission, the fiance invested what was likely hundreds of thousands into garbage offspring. That's a hell of a lot more than I, or almost anyone else gets, even if we aren't garbage that will sue their own parents.

What you've got is an outlier. Be grateful for it. It's not normal and not what most anyone gets.

>>53928031
Because I’m as poor or poorer than most PoC/immigrants and I get no special treatment, I’m supposed to just suffer because I’m white.

> There are people that genuinely think that Boomers were the exception and not the norm
I am blown away by this board's idiocy with every passing day.

>>53921439
Articles like this are almost always bullshit designed to fuck with the minds of readers who then proceed to fuck with the minds of everyone around them. That article is trying to paint a picture of some plucky handful of 30 year olds who came together, effortlessly bought the property, restored it through good ole fashion bootstrap boomer grease, and now they're going to be millionaires.

The reality of the situation is almost certainly that the "millennials" are basically acting as project managers on behalf of a real estate LLC probably specifically designed to find and do restorations/conversions of property. Maybe one of them is a trust fund kid shelling out some capital for the project while someone in their family uses connections at CNBC to promote the project.

It almost certainly didn't cost $100,000 unless the place was condemned or something and if it did, like you said, there is most likely millions of dollars in renovations needed. The article accomplished exactly what it was meant to do: inflame and annoy and thus get passed around.

>>53928262
Alright tell me about yourself
Where do you live
Who do you vote for elections
What are your core beliefs?
Let me learn something about you to see if your anger is well deserved or misplaced

>>53928453
Canada. Don’t vote, all the political parties are WEF owned here so voting doesn’t matter. I’m mostly a National Socialist. Usury should be banned and I’m a European centric collectivist. Don’t hate PoC but don’t want them here either, our tax money should go to benefitting us not foreigners.

>>53928645
Alright I can work with this
It’s good you don’t vote waste of time and legitimizes the system
What makes you follow the ideology popularized by a failed painter who grifted the German people like this?
Are you aware you are in a poc country if you want to be left alone with your people why not move back to Europe or Estonia?

>>53924467
Are you bragging about a house someone else owns? You're a fucking retard.

>>53921402
because boomers are based and zoomers are cringe little faggots

t. 32yo property owner

>>53928718
Under no circumstance should a millennial be praising boomers we are nothing like them and they have completely abandoned the younger generations

>>53921402
pretty based 35 y/o boomers tbqhwyfampai

>>53924103
who were these 9-year-old at max millennials with the same net worth of gen x in 1990? for a minute i thought the millenial line was at 0, but it looks constant until it dips around 2003

>>53927863
My parents disowned me during the pandemic because I was working in home care taking care of one of their friends who had suffered a stroke. They threw me out of the house without notice, wouldn't even let me collect my things out of my room, and are now burning through all of their money partying in Mexico or just impulse shopping on Amazon.

There is no wealth transfer. Knowing boomers I wouldn't be surprised if their final act on this earth is to vote in a 100% inheritance tax before they croak, just to stick it to their children.

>>53928149
>My boomer parents pit their children again each other and play favourites just so they can compensate for their decrepit old age by lording over their own family like feudal barons
Fuck boomers lmao. Your mom sounds like a cunt.

>>53928731
speak for yourself my parents loved me and gave me all the advantages i could in life

>>53924030
Shut up dumb millenial
>>53921402
don't forget the massive chip on the shoulder,
An entire generation has a victim complex

>>53924103
Wait, we have to wat for Gen X to die too?
Fuck's sake.

>>53928974
>Yes, we placed your whole generation under house arrest for two years, legislated society to the point that you'll never be able to afford a home (my net worth went up several mil however, without lifting a finger), and got rid of the common practice of on-the-job training so now you have to spend 100k just to get your foot in the door....
>But don't go around acting like a victim or anything. Just pull yourself up by the bootstraps, you loser.

>>53927863
My Boomer aunt is probably leaving me a million bucks when she dies. She's 60 and fat and she never goes to the doctor and vaxxed so idk if she's really going to be around much longer. Not saying that I want anything bad to happen to her it's just an observation.

>>53921402
This thing is the House of Leaves of apartments.

https://www.apartments.com/bowtie-high-homestead-pa/klfvz8b/

>>53928775
Wealth can be negative in neo-feudalism and access to student loans are a human right guaranteed by law

>>53929133
>1 bed 1 bath for $1200
What a steal, and in such a beautiful neighborhood, with only moderate-to-high crime rates.

>>53929133
>BRAND NEW BUILDING IN HOMESTEAD - Here's the thing - Homestead has changed and so have the options for renting. Welcome to Bowtie High - this 31 unit, school to apartment conversion can not be described as anything less...than fire. Garage parking (with Tesla/EV charging), fitness center (stacked with a Peloton, of course) and a killer common space has you like "screaming face emoji" before we even make it through the first sentence of amenities. Separate large storage units available in building, additional office/conference space available and an elevator that services the whole building. And we know that elevator will be used after your workout in the fitness center. Shall we tell you about the custom built wainscoting, the original terrazzo flooring and the crown molding throughout the main floor hallways, or let you be impressed visually when you're stopping by to sign a lease? Jumping into our 1 and 2 bedroom apartments, you'll quickly see you have enough natural light to get a suntan while watching TV. ([To be read extremely fast]....Disclaimer, Bowtie High owners do not condone, promote, or encourage such behavior. It is not safe or permitted to sunbathe without sunscreen on. Consult with a dr... etc etc etc. ) Where were we. Super tall ceilings, killer hardwood floors, white shaker cabinets, quartz countertops and all the other things that sound fancy. Non dumb lights (aka smart lights) and walk in closet with in unit laundry. Overall, an amazing apartment with top notch amenities. Last, but by far not the least, we are super close to Voodoo Brewery, Dukes Upper Deck Cafe, Local Motion (yoga studio) Steel Valley Roasters, Homestead Escape room, Axe Throwing and many more local restaurants and attractions. Bowtie High - let's start living.
This is real.

>>53927869
How was >>53927812 supposed to know debtmaxxing in a very short timing window was the play? lol

>>53928304
Are you fucking high? Boomers are the exception. They grew up right after world war 2 and stole the ripest fruits of labor and never had to lay another finger beyond fast food service to pay for a house and a family. Go fuck yourself

>>53921416
Speak English or Die

>>53921402
How the fuck did they find something that big this cheap???? I literally could have bought 2 of these in 2021

>>53928974
>An entire generation has a victim complex
You're retarded if you think times are "equal". It's literally harder generation per generation since the boomers. That's not an opinion. It's literally an empirical fact. But sure, let's ignore how we're headed towards another depression within this century. Talk about low IQ and shit brain power.

>>53924904
incorrect, zoomers are exactly like boomers: self indulgent, intolerant of anyone unlike them, cattlebrained followers, and spoiled chucklefucks who bawww when things don't go their way. it's right there in the name.

>>53931281
The area is 26% white.

>>53931322
most zoomers I met are actually very group/society oriented rather than selfish, they are just being mislead but they got the spirit. Zoomers will bring back the 30s

>>53931646
>wanting to steal other people resources via the state / socialism isn't selfish

>>53927883
Pods are unironically the future.
>Can invest in them without leverage
>Multi-unit ownership means easier property management
>High demand from upcoming wagecuck generations

Where can I invest in the pods?

>>53921597
a 100 years old building is usually better than something new. investors build as cheaply as they can and don't give a fuck about quality. after all its not like any of them will ever live there or even see the place

>>53921402
That would have been such cool house.

>>53929345
holy cursed
this is the most soi shit i’ve seen to date

>>53929323

>>53931322
>zoomers are exactly like boomers: self indulgent, intolerant of anyone unlike them, cattlebrained followers, and spoiled chucklefucks who bawww when things don't go their way. it's right there in the name.
Zoomer here, stop talking about yourself you egotistical fuck wit.

>>53931322
By the way my bills are paid and I have money in the bank.
You gotta stop projecting my guy.

>>53921418
I was born in 95 on the tail end of the millennials but i’m just now starting to get my stride with making money

>>53931322
No. Literally educate yourself with stats

>>53927945
Derivatives are quite easy and rather cool, actually. Not sure why people hate them so much. Agree on the comma splicing, though.

>>53927869
>be in 20s
>telling me how to live
omg why didnt you buy more btc it was so obvious, why didnt you buy AMD 10 years ago when you were 18. You couldnt get 1000$ together? You didnt have a job at 16? You are a hindsight nigger

>>53927735
>bro just buy the bottom when you're 16
Nice bait

>>53921439
>Repair bills sky high because it’s a 100 year old building not designed for that their intending to use it for
This is a fucking retarded 100% american take. Also, there's no way it would cost 2m to refurbish. ROI on that building is probably less than 10 years.

Have you considered that age doesnt matter as much as race and IQ?

>>53933789
Fuck off zoomer coomer muh boom boom zoom zoom coom coom boom zoom coom coom boom zoom zoom

>>53935361
Dude, it wasnt an appartment house before. It was a school. Refurbishing it will be astronomical.

>>53921418
the only redeeming quality of zooms zooms is that their women are easy and love BMC (big millennial cock)

>>53921402
I don't understand, is this good?
1) School system looses school
2) Landlords turn school into shitty apartment building

>>53921418
>millennials
>rich
KEK

>>53927735
Even the earliest millennials will have only been going to University during that time ya fuck wit.

>>53924365
>The finished product boasts 27 one-bedroom apartments and four two-bedroom apartments.
>Leasing started in October 2021, and after just six months, the building reached 100% occupancy.
>Spanovich said rent in the building ended up at $1,400 a month for some 1-bedroom units and up to $1,650 for 2-bedroom units.
with an income of $532K/year, they will probably cash positive in under 5 years