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/biz/ - Business & Finance

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53429846 No.53429846 [Reply] [Original]

My mummy owns 8 houses (no mortgage) and I live in one of them for free for the last 15 years. Mummy says she wants to sign over this house to me, but also sign over a second house which I could rent out for income. I feel like two houses might be a bit much to take on, dealing with being a landlord and interacting with tenants sounds difficult. Should I just accept one house or both?

>> No.53429904

>>53429846
Both.
At some point your mom passes away and you will have to pay for your HRT yourself.

>> No.53429916

>>53429846
Accept both, sell both. Buy a better house just for yourself. OR sell both and buy three condos in the same building so at least the job of being a landlord is easy. Otherwise you’re in for a world of tedious home care and property taxes.

>> No.53429932

>>53429846
Mummy is a leech bitch

>> No.53429947

>>53429846
Is this what rich people problems are? Fucking hell I literally rice and beans all week just to keep adding 500 dollars a week into crypto. And it could all go to zero tomorrow!

>> No.53429952

>>53429932
This right here. Mom and op are land maggots and should be shot like the greedy scum they are

>> No.53429972

>>53429846
Managing real estate is a pain in the ass but since you do nothing else (because you’re a parasite) it should be fine.

The smart move would be to take leverage against the houses to buy another rental.

>> No.53430133

>>53429952
I dont get how landlords are evil. Are the people who made the sacrifices to become self employed also evil because they don't have to work for someone else but someone else has to work for them? They don't pay rent because they achieved a level of prosperity that allows them to move up the social ladder. Why are you so mad? Is it because you know that the only thing that keeps you from becoming that landlord is your laziness and consumerism. Most small landlords made it after years of waging and renting before they could buy and collect rent.

>> No.53430170
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53430170

>>53429932
>>53429952

>> No.53430232

>>53430133
landlords are the niggers of occupations, you are a nigger for supporting them

>> No.53430252

>>53430232
Kek

>> No.53430305

>>53430232
Maybe if the landlord became a landlord through getting easy money from the bank yeah. Believe me anon, most landlords only own one or two rentals. And they only became able to rent them out after busting their asses a their lives. You want to go after the big landlords who don't work for a living. Most mom and pop landlords also have a real job that they wake up and go to everyday. Your idea of a fat cat landlord sitting around doing nothing and risking nothing is infantile. It's the big real estate managements that make leasing and renting so hard. They are the ones that behave demonically. Small landlords literally get their asses kicked in housing court because they dont have the legal resources that would eclipse a tenants.

>> No.53430311

>>53429972
Agreed. Since you own the homes free and clear, you also don't need to be as mindful of margins. Pay a property manager

>> No.53430318

>>53430305
thats a lot of words to say i love fired chicken and watermelon anon

>> No.53430320
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53430320

>>53430133
I’m not going to address your argument, but rather take umbrage with the
>if you werent a lazy consumer you could do it!
Line. This discredits the older generations buying assets at much lower prices, when their incomes were relatively greater than the costs of purchasing real estate. That is, it was easier for a boomer in the 70s or 80s to buy a house, taking into account lower prices and lower wages (eg, if you make 25k a year in a factory and house median prices are 100k, you’re covered at a 4:1 ratio, vs now where 50k gets you 200k at that ratio but house medians are more like 400k+).

In a very real sense you cannot “grind” your way out of the hole of housing unaffordability. This is not a flaw, this is a feature.

>> No.53430383
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53430383

>>53430320
>b b b but interest rates are low!
I hear a smart anon thinking. This is also not true - we’re about where we were in the 90s but house prices have not significantly pulled back.

Taken together, we have a macro environment which systematically precludes people getting on the real estate bandwagon by the triple threat of middling mortgage rates, high prices, and low wages.

>> No.53430493

>>53430318
Lol wouldnt landlords be the opposite of that. The renters cant stop eating out or buying the newest shitty clothing.

>> No.53430550

>>53430320
My apologies. I am not saying that big groups of individuals are gaming the system. But the small landlords literally are not the problem nor is the solution to demonize them. Rents stayed manageable up until the 90s when was street was allowed to pretend it was a small landlord and not a huge corporation that targeted real estate. All the bullshit associated with renting. The huge requirements and upfront money. The penny pinching on repairs. The bogus charges during and after you end your lease. The stipulations. Etc. Small landlords aren't fucking you like that. They don't know how anon. Also, People who rent often can't even take care of a house even if you gave it to them for free. A majority of this nation would find a way to phuck it up