/biz/ - Business & Finance

[Anonymous No.57324047]

>just buy a house as soon as poss-ACK

All the comments by plebbitors are that she made the right decision and can travel when she's an old granny.

[Anonymous No.57324104]

>>57324047
>> I signed a 30 year debtcontract called mortgage. mort means death in french
>> I am privileged to "own" my house
she is batshit insane, why do people with mortgages think they own the house? they don't. 40 years later they will. when they are old and gray and their life is over.

[Anonymous No.57324129]

i bought my house cash two months ago
i'm doing everything inside it to renew it and fucking hell it's a huge money pit
everything cost so much money, everything is so annoying and so heavy to lift
being a landlord must suck so much, landlors really are the scums of this planet if they actually enjoy doing this shit

[Anonymous No.57324137]

>>57324047
>payments 80% of income
>cash flow neutral property
>30 years of this
>no talk of making more money
Sounds like she fell for the buy and rent the extra rooms meme. Probably fell for date the rate meme too.

[Anonymous No.57324139]

>>57324104
It's how debtslaves cope.

[Anonymous No.57324190]

damn she is fucked

[Anonymous No.57324197]

>>57324104
>why do people with mortgages think they own the house?
They tell them this to encourage them to go into debt. Any non-anglo knows that you don't own it until you pay for it.

[Anonymous No.57324211]

>>57324047
>"I feel very privileged to own a house, im even making extra mortgage payments"

Stupid busted roastie bitch doesn't realize that she does not own the home. Shes renting it probably with a 30 year note and paying high interest. Dumb cunt probably wakes up every day and looks at her cats and busted twat and says "Im a strong powerful female, I own a house!" stupid slut.

[Anonymous No.57324223]

>>57324190
Aww shit she bought a multi family with a commercial real-estate loan didn't she?

[Anonymous No.57324225]

>>57324104
>(mort) refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure
I hate this braindead parrot take so much.

[Anonymous No.57324229]

>>57324047
Sometime I think, as a 34 year old male, that I’m behind the 8-ball because I don’t have a house.

Then I read stories like this and I’m reminded that actually, being a rentcuck with $500,000 in crypto is actually the superior path.

[Anonymous No.57324247]

>>57324229
of course it is
also now i'm homeowner i'm constantly scared my house being destroyed by an earthquake or fire

[Anonymous No.57324263]

>>57324229
I meet older guys that chased money with a family and didn't buy a house till their 40s. So you'll be fine if you play your cards right.

[Anonymous No.57324286]

>>57324197
>Just save up $400k bro

[Anonymous No.57324294]

>>57324263
at 40 i will have 3 houses already
stop playing around, buckos

[Anonymous No.57324342]

>>57324286
>>Just save up $400k bro
Yes. The rich buy with cash. The poor get enslaved by debt.

[Anonymous No.57324363]

>>57324342
>just be rich, bro

[Anonymous No.57324368]

>>57324286
You can easily do it if you live frugaly for a few years and invest

[Anonymous No.57324393]

>>57324129
I ignore my rental properties completely because I hate it. A property management company deals with my filthy rentoids. I just collect money.

[Anonymous No.57324402]

>>57324047
I bought my house and car with cash. It must suck to be average though. Good luck I guess

[Anonymous No.57324406]

>>57324223
She’s probably Canadian.

[Anonymous No.57324559]

>>57324342
Actually the rich are peak debtmaxxers.

Every truly rich dude got rich by using credit to buy productive assets. He then used those productive assets as collateral to borrow even more money to buy even more productive assets and so on and so forth.

[Anonymous No.57324620]

>>57324047
I’m 33, own 4 apartment buildings In a top 5 world city, and recently took out a mortgage for 400k on one of my properties to pay for an industrial peice of equipment.

My primary residence is owned debt free. I have three cars, each one a lease, and I get a new car every time my lease renews.
I work hard, and have whatever i want when i want.


I did not buy my first property until I was 25.
I was married at 24.
I saved my money and started a hard manufacturing business.

My wife’s family are suburban cucks, they have mortgages on homes and think they are “rich”. It’s embarsssing. My in-law, recently “inherited” his mothers house. Before she died, she mortgaged it to pay for her hospice. He never has and never will own a home. He is a slave to the bank.

I laugh every single day at debt slaves.

[Anonymous No.57324635]

>>57324104
Counterpoint, buying a house before the 2020 craze was the best financial decision you could have made.

Let's say your mortgage was $1600 per month and you have been paying it for 48 months, you'll have paid $76,800 in that time. Most houses in the $150-250k price range at that time, in good locations have seen their values go up anywhere from 80-120k typically, if not more.

If you were to sell such a house today, you'll have effectively lived for free for 4 years.

Rentlets meanwhile get NOTHING when they move.

[Anonymous No.57324671]

>>57324559
>just borrow your way to wealth

[Anonymous No.57324672]

>>57324635
Actually the best investment you could make at that time was crypto.

>values go up anywhere from 80-120k typically
That's literally nothing.

[Anonymous No.57324687]

>>57324620
Based

[Anonymous No.57324689]

>>57324672
By the way, my crypto portfolio has gone up more than that this year alone, while housecucks are losing money on their "investment".

[Anonymous No.57324698]

>she signed a variable rate mortgage

lol I can't believe how many suckers there are out there.

[Anonymous No.57324710]

>>57324620
>My name is John, and I hate every singe one of you.

[Anonymous No.57324718]

>>57324710
You don’t have to believe me,
But it’s the life I live

Enjoy your bank loans.

[Anonymous No.57324730]

>>57324620
wow im so impressed with your lies
>top 5 city
property taxes alone would be minimum $30K. good job paying the jew for that

[Anonymous No.57324742]

>>57324635
yes that was a good decision in retrospect, but going forward how likely is it that you will have the opportunity to buy and then sell one of the quickest spikes in residential real estate. Even the people who did buy during that time cannot sell because all housing nationwide increased as well. The people who truly benefited were investors not homeowners.
You might as well play the stock market or crypto and try to time tops and bottoms, eth was $80 in 2020.

[Anonymous No.57324756]

>>57324730
I have a property with over 100k in overdue taxes. There are commercial use exceptions to property taxes, and there’s such thing as minimum payments, which you would know, if you weren’t poor.

[Metal widgets No.57324769]

>>57324730
Also, my id keeps changing

[Anonymous No.57324779]

>>57324689
You do realize you can both buy a house and invest right? Maybe not advisable to buy a SFH house at today's rates & housing costs but you certainly missed the boat if you were in a position to buy 4 years ago and you didn't.

It's objectively financially better to have a mortgage pre-boom + investments vs renting for 4 years + investments

[Anonymous No.57324784]

>>57324047
Does anyone else compulsively react irl to means?
Like for example whenever someone uses the -ACK meme I convulse my head back and forth rapidly so that my hair flops around and then I scream ACK!
I can't help doing this I even do it in public

[Anonymous No.57324794]

>>57324689
>my crypto portfolio has gone up more than that this year alone
that's relative to your token amount, don't compare apples to oranges. they're separate "investments" (I don't consider a home an investment unless it isn't your primary house) and completely different volatility over time. there's your (You)

[Anonymous No.57324805]

>>57324779
>It's objectively financially better to have a mortgage pre-boom + investments vs renting for 4 years + investments

Objectively false.

100% crypto portfolio would have outperformed that portfolio over that time period.

[Anonymous No.57324831]

>>57324756
>commercial use exceptions to property taxes
wow so you live in a garbage dump with dead bodies, amazing! so impressed! what a big boy you are!

[Anonymous No.57324838]

I bought 5 single family houses in 2017 for about a million dollars. Turns out I'm a pretty shitty landlord, but the appreciation has probably been about 70k per house so 350k total. Actually a lot of investments would have outperformed this over that time frame but it has been pretty good for me.

[Metal widgets No.57324868]

>>57324831
It’s ok that i owe more money on overdue taxes then your mummy makes in a year


I also own a boat, 2 vacation homes, and I have a family. How are you doing?

[Anonymous No.57324925]

>>57324047
>take all that extra money you were gonna pay to your jewtgage
>invest it
>feel good at numbers going up
>the month before the fixed rate expires, make a block payment
>keep the profit
>go ride cocks in spain or something
Damn life must really be hard for a normie
>>57324671
I've borrowed at least $100k to buy cryptos and stocks over the years
The system is a retarded scam, the consumer can happily borrow money to buy some junkheap automobile, food to literally turn into shit and piss, and other trinket garbage. But you cannot easily borrow to buy assets and actually produce value. Think about it two times
They give me that money in five minutes if I say it's for a destructive purpose and outright deny it if for investment purpose.
Behind the curtain, this is because the lender intends to transform you into an asset. Genuine no kidding debt slavery

[Anonymous No.57324937]

>>57324559
>Every truly rich dude got rich by using credit to buy productive assets. He then used those productive assets as collateral to borrow even more money to buy even more productive assets and so on and so forth.
Why didn't the lender just do that then?

[Anonymous No.57324950]

>>57324104
because burgers cannot escape IRS so the cope buying homes. anyone normal just rents anywhere in the world and lives off divvies

[Anonymous No.57324960]

>>57324937
They do. Pick your favorite lender and crack open their balance sheet. Not even talking about banks here who legitimately poof money into existance

[Anonymous No.57324964]

>>57324104
>>57324225
Funny thing about mortgages is that they were originally meant for French lords who wished to hypothecate their estate ahead of a crusade/foreign campaign and use the proceeds to pay for troops and supplies. They would pledge (gage) that they would pay the recipient back in full and recover their possessions if they returned, but if they died (mort) the property would belong to the lender rather than the heirs. Instead of charging interest the lender would receive the usufruct (fruits of labor) of the land. It was a clever way for land owners to convert the value of their estate into usable capital without having to sell it. That banks have turned it into such a travesty by lending you money at interest to "buy" a house you never really own until to you pay it back is peak neoliberalism.

[Anonymous No.57325002]

>>57324960
Why didn't they just do it more then instead of giving someone else capital to do it?

[Anonymous No.57325012]

>>57324937
The lender does do that. They give out a loan, which is a productive asset for them. The borrow the money for the loan and charge a higher interest rate to their customer. All wealth is literally just credit.

It’s just payday loans all the way down.

[Metal widgets No.57325020]

>>57324937
Well, mortgages serve a purpose. Take my case. There is a machine I want. That machine can multiply my manufacturing power, and thus my cash flow. So I found a bank to issue a mortgage against partial equity ( less than a third) of my debt free income producing properties value. I have now turned an illiquid asset into currency which In term increases my productivity.


The issue at hand here, are poors taking loans against primary homes so they can buy lv bags on credit cards.

[Anonymous No.57325047]

>>57324779
>what, you plebs don't have infinite money?

[Metal widgets No.57325053]

>>57324964
Most commercial land lords still operate this way.

See my above post.

[Metal widgets No.57325067]

>>57325047
You aren’t human if you don’t own debt free land.

[Anonymous No.57325073]

>If you rent you are a retarded cuck that's throwing money down a hole
>If you buy a house on a mortgage you are a retarded cuck because you don't own your house
>If you buy a house in cash you are a retarded cuck for not debtmaxxing
what the fuck am i supposed to do here

[Anonymous No.57325078]

>>57325002
You can't borrow unlimited amounts of debenture money, you need to create the collateral
>loans me $100k to buy shitcoins
Collateral created

[Metal widgets No.57325089]

>>57325073
Buy an income producing commercial property for cash

[Anonymous No.57325097]

>>57324047
>mortgage
>yes i own a house
do mutts really ?

[Anonymous No.57325170]

>>57325073
Tentmaxx

[Anonymous No.57325231]

>>57324190
>>57324211
Lol this. Why would you make extra payments if your rate is fixed at a low rate. That extra money should be going towards a fixed maturity bonds ETF that matures a few months (but less than a year) after she has to renegotiate the mortgage so that there is enough liquidity to sell in the open market. Then when she goes in to renegotiate the mortgage she would pay down the balance with a bullet payment. She'd have more money that way and it's safe

[Anonymous No.57325264]

>>57325073
There's not a right answer
>rent the space
>rent the money
>forgo the time value of money
Three bad options because what we're talking about here is an expenditure
You pick the one that fucks you the least with the full knowledge that you're fucked either way
All this dependent on the property, your finances, your wishes, etc

[Anonymous No.57325290]

>>57325097
Damn the cruelty to take this pic

[Anonymous No.57325347]

>>57324784
same her-ACK

[Anonymous No.57325368]

>>57325073
>not building a house with earthbags yourself
>not living with mom
>not buying a home via owner financing with fair terms such as getting equity from your first payment
>not living in your gfs house for free

have some fucking imagination

[Anonymous No.57325385]

>>57325264
A surprisingly helpful answer for a jokey shitpost. I am actually thinking about buying a home and this is a perspective I hadn't considered, thanks anon.

[Anonymous No.57325413]

>>57325073

How about you stop listening to a bunch of faggots on the internet and do whatever you want.

[Anonymous No.57325434]

>>57325047
>Missing the point entirely
Unless you have a fuck ton of cash to buy a home/condo outright then like the majority of people you're paying some amount of money monthly either for rent or a mortgage.

In 2020 I decided to buy a 3 bd/1ba house with a small downpayment, less than 20%, bought a $~200k house and ended up with a monthly mortgage of around $1600

I could rent a similarly stat apartment for similar costs, give or take.

If one has leftover monthly income to invest it doesn't matter what the fuck you live in.

My point strictly is that if I did rent instead, for similar costs, 4 years later I have nothing to show for it except my investments. However if I sell my house after that same time frame (such as if I needed to move) I would expect to have ~80-120k in cash (minus closing coats)

The only legitimate counterpoint which I fully acknowledge is living in a CHEAPER apartment than whatever one could find in a house. Ie if you can find a comfortable place for $500 a month and you couldn't find a cheap house and mortgage to match that (as bad as the market is I think this is still unlikely) then it may be more financially savvy to live in the apartment and divert extra to investments until you're in a position where you have enough saved to get a mortgage which is comparable to your rental. But again this is in retrospect when rates were good. I think it's not a great time right now.

If you can't afford to save anything after your monthly rent and bills you have bigger problems to address, namely it seems you're living beyond your means.

[Anonymous No.57325451]

>>57325434
The whole point I'm making is investing isn't off the table due to having a mortgage. That's a retarded mindset.

[Anonymous No.57325463]

>>57324868
>Flexing debt

Damn I'm jealous. Hopefully all the money you make helps when your wife's family laugh about how autistic and weird you are behind your back. But at least they are somehow more in debt than you?

[Anonymous No.57325512]

Any slum lords out there have any advice for an anon starting out?

My first deal is paying 60k for an absolute dump, spending 40k to fix it up, and then renting it out for 1250/month. Is this a good enough deal or am I NGMI?

[Anonymous No.57325543]

>>57324104
>I am 27F and see most of my friends living a bougie lifestyle with travel, eating out, entertainment
>aka I am online on their social media and getting jealous of their highlight reel

she only wants these things because women are always in a competition with each other over social status / hierarchy flexing. It's literally all women care about. I guaranteed that this same bitch if offered all these things but couldn't record any of it to show off to her friends would lose all interest.

[Anonymous No.57325574]

>>57324950
A lot of countries have higher home ownership rates than America, but you think it's because of...... The IRS?

[Anonymous No.57325600]

>>57325512
that's pretty dam good if you can make it happen for that cost and rent. I doubt you get a quality tenant though, and it is probably in a bad area if you can buy for that cheap. unless you know you can get good tenants it isn't worth it

[Anonymous No.57325610]

>>57325463
Having 100k in “debt” to a municipality which also offers credits isn’t a big deal.

Having a bank loan on your house? That’s a joke.

[Anonymous No.57325653]

>>57324950
Exactly. Nobody owned a house before the IRS was around.

[Anonymous No.57325711]

>>57325264
This is the most important post in this thread, and honestly one of the most enlightening posts I've ever read on /biz/.

[Anonymous No.57325742]

>>57325600
Yeah I guess that’s my main fear. It shouldn’t be just shit tenants. A 3 bedroom apartment in the area is like 1600 a month. I think my value proposition is way better, it being cheaper and having a yard and everything. But I think a lot of people don’t even consider renting a house to be an option and immediately apply for apartments for some reason.

[Anonymous No.57325807]

>>57324229
If you're single, childless and still young (under 40, ideally under 30) there is NO REASON to buy boomer "low risk" overinflated assets.
Crypto is basically millenials and early gen X creating and pumping their own casino just to not buy boomer bags.

[Anonymous No.57325869]

>>57324559
>Every truly rich dude got rich by using credit to buy productive assets. He then used those productive assets as collateral to borrow even more money to buy even more productive assets and so on and so forth.
You got in reverse, they generally have collateral to begin with which is why the bank is ready to airdrop tens or hundreds of millions in money. When banks give 300k to some random niggers there is a huge much higher risk of insolvency.

[Anonymous No.57326050]

>>57324698
The fuck is this thing anyway

[Anonymous No.57326091]

> made a shitty game on steam
> raked $200k give or take
> bought myself a home
Feels good

[Anonymous No.57326154]

>>57326091
$200k home? I guess someone has to live in bum fuck Kentucky, right?

[Anonymous No.57326205]

>>57326154
seethe coastie

[Anonymous No.57326218]

>>57326205
Lol ok Mr hillbilly

[Anonymous No.57326234]

>>57324190
>Capture d’écran 2024-01-(...).png

[Anonymous No.57326280]

Where is her husband?
Is she not desirable?
Is this because of a child or her prodigious size?

[Anonymous No.57326301]

Also: traveling where?
Theres nothing to see in Europe. Its all faggots, trannies, and Muslims.
I mean, I suppose you can go see the windows in the shower room at auschwitz.

[Anonymous No.57326315]

>>57324635
How much of that went to interest retard

[Anonymous No.57326318]

are you really the owner if you have a mortgage? do americans really?

[Anonymous No.57326436]

>>57324620
tell us everything about starting your business
I want to start a business too

[Anonymous No.57326441]

>>57324964
>usufruct (fruits of labor)
Fun fact, it's "usufruit" in french

[Anonymous No.57326512]

>>57324950
So, what's a good country to benefit of early retirement from divies and shit? Meaning low capital taxes and shit. And ideally where the cost of living & housing is low enough, while not being a third world shithole.
I was thinking of Portugal, though taxes on divies and shit are still high.

[Anonymous No.57326619]

>>57326512
Poortugal is basically your only first world option.

Panama is a decent third world option.

[Anonymous No.57326708]

>>57326441
>>57326619
Portugal is already overrated though, and the market has adjusted to this. Good for crypto taxes thoughever.

[Anonymous No.57326729]

>>57326708
Meant for >>57326512.

[Anonymous No.57327080]

>>57324393
How much? Hard to get 5% or your capital investment I guess. Here in Paris with the old crap building we have it is between -1 to 4 percent I would say.

[Anonymous No.57327098]

>>57326512
Your moms house anon. Buy 90 pack of eggs and 50 pound bags of rice. Essentially you can live for free and then you only need like 100k in divvie stocks to not have to work

[Anonymous No.57327140]

>>57325807
I was thinking the other day that all a boomer had to do to “make it” was buy a house or two in a reasonable neighbourhood in 1986 and hold it. They’d be a multimillionaire by now. Houses were cheap then, in hindsight it was the easiest thing on earth to do.

I get the feeling buying bitcoin is the current equivalent. There will be a whole generation of kids in 2050 saying to their parents “what do you mean you could buy bitcoin for $20k? All you had to do was buy a few coins and now you’d be set, but you didn’t and now I’ll never have a bitcoin”.

[Anonymous No.57327155]

>>57325869
Well yeah, obviously it’s easier to make money if you already have money. But once you’ve got some sort of productive collateral it’s just an endless game of debtmaxxing to infinity and eventually buying a yacht.

[Anonymous No.57327171]

>>57326512
Argentina, so long as your assets are out of the country and denominated in foreign currencies.

[Anonymous No.57327174]

>>57324964
Interesting.

[Anonymous No.57327184]

>>57324229
Same. Feel high iq as fuck.

[Anonymous No.57327227]

>>57325073
>become merchant mariner
>work at sea nonstop
>easily clear six figures with no expenses
>put it all in crypto

[Anonymous No.57327235]

>>57324047
80%? what the fuck was she thinking. here i am hesitating over a mortgage that's 30% of my net income lol

[Anonymous No.57327360]

>>57324635
>you'll have effectively lived for free for 4 years.
Yea, math. That's how I got into buying property. I was sitting in class running numbers and figured out if I bought a 3 bd unit I could rent out the other 2 beds and live rent free. Property was in a shitty area but it was still majority white back then.

[Anonymous No.57327430]

>>57324047
>bought a multifamily in decent area
>live for free and rent out other units
>2.7% fixed interest rate
>Any shared improvements are a large percentage deductible.
>build equity through mortgage payment and asset appreciation
>mostly tax neutral but cash positive thanks to building depreciation
>Large percentage of capital gain when I sell it is not taxable since it's also my personal residence.

If you do it right it can be pretty sweet.

[Anonymous No.57327474]

>>57325073
Live in your car

[Anonymous No.57327487]

>>57324868
>>I owe that much in taxes each year...sweating intensifies.

[Anonymous No.57327513]

>>57327487
based

[Anonymous No.57327654]

Crazy how slowly real estate prices move. It has finally gone down here but not enough

[Anonymous No.57327681]

>>57324047
>Low fixed rate expires
lmao

[sage No.57327700]

27... 8 years and those eggs will be rotten but at least she is a strong independent women that owns her own... ACK

[Anonymous No.57327773]

>>57324229
No shit, anon

[Anonymous No.57328471]

>>57324838
You only made $350k in 7 years?
That is 35% over seven years which is 5% a year returns.

You could have purchased bitcoin for $1000 per coin and sold it today for $42k per coin. For 4,200% return...

[Anonymous No.57328642]

>>57324964
bump

[Anonymous No.57328649]

>>57324784
I say nigger a lot now more so yeah

[Anonymous No.57329627]

>>57328471
Well you must have done that... Right anon?

[Anonymous No.57329665]

>>57324104
She literally says before her rate expires. She’s clearly in some shitty country where you can’t get 30 years. If she had one she wouldn’t need to worry about paying extra each month

[Anonymous No.57329826]

>>57328471
That’s not counting the rental income. The 5% per year is just gravy

[Sage No.57329853]

>>57324393
Fuck u bitch im doing water damage in the bathroom and wiping poo inside ur walls fagit

[Anonymous No.57329898]

>>57324559
Yes, but like with everything that you leverage you need to time it at the right time. If you bought just when covid started and locked in 1-2% mortgages then it was a great buy. If you buy when prices are high and rates are high, you'll destroy your wealth completely

Buying real estate is all about timing. Real estate returns are terrible, but leverage is what makes it worthwhile. But you need to time it right