/biz/ - Business & Finance

[Anonymous No.55184874]

>buy cheap home cash out right in fly over state
>Hire property manager to take care of it
>Rent it out for cheap
Am I stupid for not doing this? I can find houses in West Virginia for $80k. Why the fuck not just buy it and rent it out for $500 a month?

[Anonymous No.55184921]

>>55184874
Boss heard about 70k condos in Florida being rented for 1k. This stuff is out their, just most people with the money don’t want the hassle. Imagine dealing with people who can’t afford 70k?

[Anonymous No.55184932]

>>55184921
Yeah, that's my main hesitancy here. Who the fuck is going to rent a a house where they're so cheap? Idc if they're white, they must be some serious trailer trash.

[Anonymous No.55184957]

>>55184932
It’s a lot more but if you can find a trailer park with city sewer it’s hassle free. Nothing can be destroyed, and if people don’t pay you just tow them. Saw one in New York for 700k, 50k rent. Regret not pulling the trigger.

[Anonymous No.55184982]

>>55184932
Rent to section 8, the tenants will destroy your property but the gov deposits the rent directly to you so guaranteed cash flow with no hassle.

[Anonymous No.55184998]

>>55184874
What will you be netting after expenses and taxes? What if your tenant stops paying? Will the home be saleable or will the area fall further into economic ruin and niggerdom such that no one qill want to live there?

[Anonymous No.55185843]

>>55184874
so you're talking about taking on all this extra risk and headache for what... 1.5-2% extra yield after expenses vs t-bills? I can't find a single property in the areas I monitor that can be remotely justified. Either prices have to come down 20-30%, or interest rates down 30-50%, otherwise t-bills all day.

[Anonymous No.55187517]

>>55184932
You're grossly overestimating how stupid most people in this country are with finances. Just look at all the buy vs rent threads on this board.

[Anonymous No.55187578]

>>55185843
>T-Bills

BTC is up 64% YTD,
META up 122%,
AMZN up 45%,
GOOG up 39%,
AAPL up 39%,
S&P is up 11%,

and you're suggesting T-Bills?

[Anonymous No.55187656]

>>55184921
>make up 70% of the CONOMY
>gotta make the 'conomy work good
>more loans is more 'conomy
>more banks is more 'conomy
>less manufacturing is more 'conomy

all hail the great conomy, GDP conomy

[Anonymous No.55187676]

flyover means no tenants

there is a ton of landlord bros that buy dogshit with zero dd

dont be one

[Anonymous No.55188510]

>>55184957
Ive got a new client who is managing a portfolio of over 250 properties all owned by one family. Do the math on that. fucking trailers man

[Anonymous No.55188537]

>>55184932
When I went to the University of. Charleston, I rented a house with 2 room mates. We each paid $400/month plus utilities. We checked on Zillow and the house had been purchased for about 75k the year before we move in and they did minimal upgrades, if any. I lived there 2 years and it is still being rented to pharmacy school students (mostly Asian women). The owner of that house is doing well, it now rents for $1500/month! That is 2% of the value of the house per month!

[Anonymous No.55190532]

>>55184874
80k and 500 a month is a bad % roi. Aim for 100 a month for every 10k you spend. Also property managers are 10%, with this rule homeowners insurance should be 10%, Account for 5% between maintenance regular expenses and property taxes. Really you're losing a quarter of whatever you make gross.

[Anonymous No.55190896]

>>55184921
>the blue areas live in boxes, ride buses, and subways and were locked down like slaves
>the red areas have homes, yards, trucks, chickens, and don't know what a lock down is
I'm sure it's worth it to have a bigger dot on a chart.