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/biz/ - Business & Finance

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22166752 No.22166752[DELETED]  [Reply] [Original]

Biz,
I come to you on the day of your daughter's wedding, asking for a favor.
I'm thinking about buying this house. first time buyer.
price: 265,000, 1258 sq.ft. 3b2ba. it's right next to a large university. i figure, 5% down, 3.5% apr, there's a better gain than loss even if the market plummets. i could always rent it out and charge a college tax, and i think i'd ask for 250,000. 9k down is about 1200/mo. yay? nay? any considerations i could be missing? i'm renting a room right now with some people and i fucking hate it.

>> No.22166852

>>22166752
Sounds legit

>> No.22166978

>>22166752
What's your yearly income and other financial situations?

>> No.22167043

>>22166752
Well now you have to get a different house because you just doxxed yourself.

>> No.22167142

>>22166978
92,500 last year. Also 7k link. I have 6k in a checking and like 2k in savings.
>>22167043
Yeah that’s fine. Come over I’ll cook some steak

>> No.22167200

>>22166978
Forgot: 0 debt. Currently paying 400/mo in rent. But my dunk roommate threw his pissed-on blanket in my laundry full of bedsheets so I didn’t sleep last night waiting for the washer to finish twice over.

>> No.22167286
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22167286

>>22167142
Really? I love steak! Im all the way in the east coast though.

>> No.22167430

whats the average downpayment? im figuring 20% for all of my properties but i see people putting 10k down on 200k homes and feel like a moron because i could do that but its more expensive in the long run. why are people comfortable with only 5% down?

>> No.22167533

>>22166752
seems okay, bit of a small lot, but i'm assuming you're closer to a city center
what's your credit score like, are you approved for a loan?

>> No.22167575

>>22166752
I dont have a daughter, bud
Oh this is a larp heh
Well I guess you want to live close to this thing or your paying a property manager. College kids tend to wreck stuff & plus they might be doing school online. Those are the main risks I guess, but yeah you will probably make money I would guess. Unless there is a local bubble that breaks

>> No.22167586

>>22166752
yay

>> No.22167603

>>22167430
well interest rates are super low. i can put down less and just eat the PMI. you probably know more than me, so please let me know if my logic sucks.

>> No.22167633

>>22166752
>Right next to a university so when the communist blm riots break out they'll come to my house first

>> No.22167676

>>22167043
This, home comes up on the first page of reverse image search.