Is being a Landlord the new easy-wealth meme?

[Anonymous No.19368331]

>lever up a ton
>homes appreciate in equity
>rent out to AirBNB
>rent out to retards
>if your home value crashes, just leave it who cares

Is this shit sustainable?

[Anonymous No.19368380]

doesn't your pic answer that?

[Anonymous No.19368392]

>>19368331

NOOOOO NOT THE HECKIN LANDLORDS

[Anonymous No.19368463]

>>19368331
>Is being a Landlord the new easy-wealth meme?
>the new easy-wealth meme
>the new

Bro, its the original easy-wealth meme.

[Anonymous No.19368502]

It isn't easy, but it's one of the most straightforward ways to gradually build some generational wealth for yourself. Takes some patience, vision, and income, apparently this is a rarity in America. I'm on this path right now.

[Anonymous No.19368722]

>>19368331
How do you scam landlord out of his lands & houses?

[Anonymous No.19368826]

>>19368502
No

[Anonymous No.19368849]

>>19368826

Did somebody hear something? Thought I heart a rat squeaking, might just be a fat chapotard

[Anonymous No.19368853]

>>19368502
Are you a mid 20's amerilard with good credit and like 15,000 saved away working full time, hoping to get your first downpayment for a home in 5 years?

Cringe

[Anonymous No.19368854]

>>19368331
She cute

[Anonymous No.19368872]

It's great how you morons will bitch about landlords and cheer when they are about to lose all their property, but fail to understand the ones taking the land from them is banks. At the rate we're going bankers will own ever bit of land in the country. They already own most of it, but keep bitching about landlords.

[Anonymous No.19369015]

>>19368331
>Is being a Landlord the new easy-wealth meme?
Is being a Janny the new easy-wealth meme?

[Anonymous No.19369086]

Landlord here, I'm am stoked to buy cheap properties over then next couple years. All the lightweights that inevitably enter in the tail of the bullmarket using low effort high risk strategies like fucking leasing apartments so they can Airbnb them, eventually make my life easier when their schemes implode. For the last few years I've bought nothing but completely wrecked properties that I rehab myself, because nearly everything else is way overpriced because of people banking on equity gains instead of cash flow (pretty much the same as is going on in the stock market). I'm only 40% leveraged and want to expand, so a massive drop in prices only helps me. The only people dumber than these highly levered Airbnb hosts are the retards that think this signals the end of landlording.

[Anonymous No.19369088]

>>19368853

[Anonymous No.19369123]

>>19368826
>shitty facebook meme
I am surely btfo by this poor rentcuck now

[Anonymous No.19369188]

I've considered RE for so long but I can't get over how scammy it seems to charge poor people to live in a box I provide.

[Anonymous No.19369231]

>>19368872
Bankers don't want your shitty house. They don't hold them they sell them.

>>19368331
Yes because real estate has been on like a 10+ year bull run and now no one will shut up about it.
I mean don't get me wrong, mathematically it is probably the best way to build wealth for most people. The issue is that the barrier to entry is incredibly high.
>muh FHA 3.5
Yeah I know, it's great and all except it will still typically require you to have $17k for the down payment, plus closing costs. You also need to have furniture and cash reserves for repairs and SHTF.
It's just really out of reach for a lot of people and I hate how these YouTubers make it seem like it's soooooooo easy.
The people buying now are having the toughest time because even if you have room mates in your SFH that you bought with 3.5%
A 3/1 $500k house will cost you $17.5k downpayment, where im at that rent is going to be like 2100-2400 and with everything you're paying $3300 so even if we take the higher end that's 800/head from roommates and 1600 total and now you are paying that $1700/month + repairs and if one of them moves out it's now 2100/month and if they both move out then you're on the hook for everything until you replace them.
It's just not the kind of situation I would like to be in. It really doesn't offer me any kind of peace of mind.
If I was in a position to either put a lot more money down or had a higher income to cover the costs with more breathing room then sure. As It stand right now I'd rather be the guy paying the $800 in rent than the guy who bought at the top of the market and is struggling to maintain ownership.
Most these landlords bought their shit 10 years ago and have seen enormous appreciation. At some point the market has to hit a ceiling because there just aren't enough buyers who can swing the financials of a $700k SFH in a mediocre neighborhood at best.
Btw I live in a pricey North East Coastal market so my situation is probably a lot different.

[Anonymous No.19369234]

>>19368853

>mid 20's

yes

>good credit

yes

>15,000 saved away working full time

pretty much

>hoping to get your first downpayment

No, own two properties already and working on my 3rd. Very easy to do in a locale with a great price/rent ratio and lenders willing to spot you 5% down. Sorry you were cursed with a shithole that doesn't afford you the same opportunity.

[Anonymous No.19369254]

>>19369086
How wrecked are we talking? What costs do you put back in to fix?

[Anonymous No.19369264]

>>19369188

Meh, once you actually take a look at or experience the risks involved, maintenance work, organizational work, dealing with taxes and annoying local governments, you realize that they're really only playing a $100-200 monthly fee for the convenience of not having to do it themselves. Everyone is perfectly capable of being an adult and figuring out if owning is right for them.

[Anonymous No.19369269]

>>19368331
airbnbs went bust

[Anonymous No.19369278]

>>19369231
Meant to write 2100-2400 and the math was on the 2400 side.

[Anonymous No.19369288]

>>19369188
Easy, dont rent to poor people. That's what I do, and it's resulted in this coronavirus being little more than a small blip on the upwards trajectory. Poor people make landlording an adversarial endeavor, which is why nobody builds affordable housing of any sort anymore.

[Anonymous No.19369364]

>>19368826
shut up and pay my mortgage, rentcuck.

[Anonymous No.19369397]

>>19369288
Yeah but I'm too poor for class A but that makes sense. I'm honestly just going to go with some single tenant net lease or something.

[Anonymous No.19369497]

>>19369254
So wrecked a down-to-the-studs full rehab is required, including all electrical and plumbing systems, full exterior, roof, windows etc... Just the material and appliances for the rehab are typically 200%+ of the property purchase price. My last project I purchased at auction for $40k, appraised for $240k finished, and I make $2300/month in rents from it. Doing full rehabs blows, it's a lot of work that I do mostly myself, but very worth it in the end. Still very looking forward to buying cheap places that aren't completely wrecked.

[Anonymous No.19369614]

>>19369364
tap into your retirement, its raining parasite