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/biz/ - Business & Finance

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8710365 No.8710365 [Reply] [Original]

Rent or buy a house /biz/? Califag btw inb4 kys

>> No.8710406

buy - equity but minimal liability
rent - no equity but large liability

depends mainly on your life situation
in my case I'd like to own a house but can't quite afford one yet
if crypto ever recovers I will cash out and buy a house

>> No.8710419

>>8710406
I got that backward, typo
buy is equity but larger liability
etc.

>> No.8710426

>>8710365

squat

>> No.8710441

>>8710406
Been thinking buying is the best option as well. Can't find any way to justify flushing $2500/mo down the toilet renting

>> No.8710483

Just rent as cheap as you can and put more money into crypto.
Buy in a year or two.

>> No.8710499

>>8710483
>Buy in a year or two.
why?

>> No.8710531

>>8710483
>>8710499
Heard this a couple weeks ago from some insider finance anon, said we're headed for a crash again with all the new subprime loans

>> No.8710560

>>8710531
I'd love for this to be true.
I only plan like this because the window to accumulate crypto is short and I want money in there yesterday.

Now crypto. Buy house later. Plan and be patient. We're all gonna make it.

>> No.8710579

>>8710531
Starter homes in my area are actually pretty cheap already, is there any reason not to buy now? Will it decrease an appreciable amount?

Example:
https://www.zillow.com/homedetails/3597-14TH-St-Wyandotte-MI-48192/88166428_zpid/

>> No.8710603

>>8710560
I'm down like 60-70% on crypto, fomo'd in near the ath, it's been painful /biz/bro. I still believe in crypto but I'm really hesitant to put anymore in. Total investment so far is about 9k, down to just over 3k or so

>> No.8710623

>>8710499
Jesus Christ. Google it. Look up a fucking chart, it isn't difficult. In short, we're due for a correction soon. Not housing bubble pop, but a correction nonetheless.

>> No.8710642

>>8710579
A starter home where I live (and within driving distance to work) goes for 400k at the absolute minimum, and it'd be a real POS. And it'll be in an area full of Mexicans who literally steal everything.

>> No.8710663

>>8710623
Googling it returns a ton of shit saying the opposite as well as mixed opinions in general, so fuck off with your condescension. This is an imageboard and I'm here to discuss shit not autistically link people to lmgtfy, take your autistic sperg outs elsewhere, nigger

>> No.8710668

>>8710603
>I fomo'd in at ATH
>so now I think buying near bottom of bear market is bad
NO. BAD.
That waste of money was your lesson about buying at ATH. Don't do that. Now is a much better time to put in money.

The potential upside of right now is bigger than the potential downside. Just hold what you have, day trade to flip if you're able, or put more money in when it's low and wait.

>> No.8710672

>>8710642
>A starter home where I live (and within driving distance to work) goes for 400k at the absolute minimum, and it'd be a real POS. And it'll be in an area full of Mexicans who literally steal everything.
...LA?

>> No.8710687

>>8710663
Yeah there's no way the MM will ever give the populace a heads up. Alt media is your best bet and even then there's tons of bullshit fear mongering to wade through.

>> No.8710689

Needless to say that the value you get out a house purchase depends on how long you plan to stay. If it's a long term move, then it's a slam dunk. Even if you buy at the peak of the market and it corrects massively, if you stick it out long enough home value rarely drops over long term. But if you are the type who wants to move around often, then renting is not a bad option, especially right now.

>> No.8710705
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8710705

>>8710642
>400k at the absolute minimum
>area full of Mexicans
At least in my area it's more like 400k is the minimum you need to spend to NOT be in a mexican neighborhood. They're still close though and only spreading.

>> No.8710719

>>8710663
Then what makes you think an imageboard is any wiser than the dozens of results you could read from the first page of a Google search? If all you found there were mixed opinions, that's all you're going to find here too don't you think?

>> No.8710734

>>8710719
Sure, but at least I can talk it out iwth people and have some back and forth
>hurr google it
>uhh wont you just get the same results with a discussion as a static webpage???
k thanks for enlightening us with your input tyrone

>> No.8710741

>>8710672
Actually as much as I hate LA i might prefer to live there if it was close to work. I live in ventura county, right next to LA. Basically a white flight area where most browns are priced out, but Mexicans live like 5-10+ people in a house or in the shittier areas where I'll probably be stuck living. Average home price is probably closer to 7-800k, all I can afford so far is maybe 450k.

>> No.8710743

>>8710705
You guys must live near gigantic cities in the Western part of the country

>> No.8710746

Rent.

Market is going to tank. Interest rates highest in years. Still really fucking low. Housing starts down. Homes on market longer. Bubble has burst. Just wait anon. Market still at least 40% overvalued in most markets.

>> No.8710780

>>8710441
Well think of it this way, if you sink $400k into a house you could've instead invested this at 7.5% to get back those $2500/mo.

Don't forget to factor in the opportunity cost of the house payments.

>> No.8710785

>>8710743
>Salt Lake City
>gigantic
Dude. mexicans spread like locusts. Small Utah towns full of "racist" white people still are getting filled with those things. There's no stopping them.

>> No.8710796

>>8710668
That's what I keep wanting to think but shit man, after just about losing 9k (haven't sold yet but fuck me i should have months ago), I'd be really fucked financially if I did it again thinking we're about to rebound.

>> No.8710806

>>8710785
What's the best play in your opinion? I guess all you can do is what >>8710741 is talking about and try to live somewhere where they're priced out. Pretty fucked up

>> No.8710853

>>8710780
If I had 400k to sink into a house this wouldn't be an issue. I'd be financing not buying. I'll be struggling with the down payment. And where would I find a 7.5% return? I'm getting 1.55% in savings at the moment (CIT bank).

Also, general thoughts on FHA loans? Monthly paymebt looks higher but that 3.5% down payment sure is attractive

>> No.8710863

>>8710806
I don't know I'm just some poorfag white shit trying to live somewhere decent but cheap everything is fucked to shit by hordes of spics EVERYWHERE.

>try to live somewhere where they're priced out
That's probably the best plan, but as I previously stated they keep spreading. Just when I think I found a neighborhood without them I see some more. Just when I think "this place is too expensive for those pieces of shit" I see many hanging out on the lawn.

The more expensive areas are the approach to take, but it definitely isn't safe. There is no safe bet. That's another reason I want to rent for a while before buying. I want to, finish school, start working and making money, living somewhere like a normal person for a while, and see if I can stomach buying a house anywhere.

Things aren't good, but you do your best. If nothing else you can get rich in crypto and leave the country (wishful thinking).

>> No.8710871

>>8710746
I hope so anon, I hope so. Might be able to ride it out in my current situation paying $500 rent for another year.

>> No.8710882

>>8710441
>>8710853
How much are you planning on putting down?

>> No.8710939

>>8710882
If mommy helps (and she said she would, i have lots of gbp) 60-80k, if not, probably 20-30k so I'm forced to do an FHA. Also I have zero student loan debt (thanks mommy)

>> No.8711028

>>8710939
Have you considered a multi-family property? I don't know if loans are different for that, I think if you live in one you can get something, I can't remember.

https://www.homes.com/property/521523-n-oak-street-santa-paula-ca-93060/id-1000071828760/

https://www.realtor.com/realestateandhomes-detail/11219-Azahar-St_Ventura_CA_93004_M18113-95561#photo3

https://www.realtor.com/realestateandhomes-detail/1153-Cameron-St_Ventura_CA_93001_M20059-59151#photo1
>This duplex consists of a 2BD/1BA and a studio which currently brings in$2,745 per month

So stay where you are and rent both out?

I'd look into something like that to manipulate money and time but if you're lazy and just want a home, go for it if your area is booming in price. Some areas aren't hit by market crash bad, and if you have a duplex people will be looking for rentals.

>> No.8711052

>>8711028
Definitely an interesting idea, I'll have to look more into it, thanks anon! Appreciate you taking the time to find some listings

>> No.8711135

>>8711028
Duplexes are pretty cheap in my area, I guess being wise it makes more sense to just save a little more and try to get one of those instead of a single family home. I dunno. It's certainly more of an investment, not just in terms of initial outlay but time and recurring costs as well

>> No.8711148

>>8711135
Yeah, being a landlord has its own challenges without a doubt, would have to work out the numbers and see what's optimal

>> No.8711208

>>8711028
What could happen if you decide to buy a two-family property and most applicants are mexicans, but you end up holding out for some other people?

What kind of affirmative shenanigans would you have to put up with if you become a landlord?

>> No.8711223

always always buy if you can scrape together the cash for a down payment

I just got out of the apt I lived in for almost 5 years to get a condo instead, 15 year mortgage

Principal, interest, condo association fees, and a monthly slice of the property taxes COMBINED costs less per month than what I was paying to rent

>> No.8711243

>>8711223
moving from renter's insurance to condo insurance cost a bit more, but I'm still coming out ahead

>> No.8711286

>>8711223
Yes this has been my plan essentially, a condo/apartment for sale. I'm 25 and I see friend after friend throwing 2k+ away on an apartment (if they're not living at their parents'). Might as well buy the shithole and have something to your name when you're done, even if you sell it early and get out of the mortgage, you'll get some equity out of it instead of nothing

>> No.8711289

>>8711208
I don't think you need to deal with any sort of "equal opportunity" or "non-discrimination" whatever unless you're managing several properties as a landlord, check with your state

>> No.8711298

>>8711243
If you pay 20% down there's only normal homeowners insurance though right?

>> No.8711313

>>8711286
just make sure that whatever you buy, you at least PLAN on staying in for a while

property inspection, realtor fees, mortgage application fees, etc take up more time and money than you'd think

>> No.8711330

>>8711298
Yeah, if you can't lay 20% down to start, your monthly mortgage payment will be higher to cover the extra insurance the lender wants

>> No.8711353

>>8711313
I can imagine. Yeah that'd be the plan hopefully, I do love ventura county, wish it could be moved out of this god forsaken state though.

>> No.8711388

>>8711330
Yeah that would be shitty. I think FHA avoids this too with its own kind of insurance if I'm not mistaken? Still higher monthly payment though

>> No.8711434

>>8711289
I don't know. I found this
>https://laborcommission.utah.gov/divisions/AntidiscriminationAndLabor/fair_housing.html
It sounds like people can cry racism and you'll get investigated.

If anything like this is real I think I'll just do my best to buy my own house and not be a landlord. The thought of having to deal with more dregs of society renting from my modestly-priced property is disgusting. How can people still stomach interacting with the general public?

>> No.8711452

>>8710863
It's okay at least we aren't enslaving you people. But we will employ you soon enough. Don't worry we will be gentle.

>> No.8711488

>>8711434
Yeah once people have been there for a bit they get all sorts of rights, would be hell to deal with a legal battle when you did everything by the book

>> No.8711543

>>8711452
lol I'm going to be working in software.
You pigs aren't capable of a mental field like this. Landscaping, drugs, and fast food seems to be about it.

>> No.8711601

>>8710365
Ask Peter Schiff.

>> No.8711664

>>8711543
We will work our way up there. Look at the homeless population how many are latinos compared to whites? You are in decline. Your poor are waiting to die while high on opiates. Our poor are creating small business.

>> No.8711724

>>8711664
Right? They should have checked their privilege.
They're on the streets while classrooms and government is full of white privilege patriarchy rhetoric and taxes are.for affirmative action programs.

>> No.8711736

>>8711543
I am working in software, kind of i guess, I manage a company website (wordpress) and make 54k (small business, 6 employees), really comfy actually, great environment. Still barely enough to live on in this area though.

>> No.8711767

>>8711543
>>8711736
Oh I'm not brown though :^)

>> No.8711801

I've found poor Mexicans to be much nicer and better people than poor whites.

Like this anon said: >>8711664

Poor whites are poor for a reason. They sit around, drink, use meth or opiates and dump their welfare checks into TruckNutz and processed food. Poor Mexicans are victims of circumstance and the world, poor whites are poor because they're stupid and lazy.


t. honkey

>> No.8711807

>>8711724
What amazes me are white people ignorance to history. Just because they are dominant right now or in the past it doesn't guarantee their future. They may laugh at us because our greatest organizations are cartels and gangs. But they forget that Rome was started by literal bandits. History takes a while to play out and its not impossible for us to rise.

>> No.8711849

>>8711801
>poor whites are poor because they're losers
>poor diversities are victims and have endless excuses
>successful whites are successful because of privilege and oppression
>successful diversities are successful because of hard work and smarts
Never fails.

>> No.8711859

>>8711807
We know you guys are going to take over, there's nothing to argue there. It will ruin this country, that's what we're saying. Just look at your home countries..

>> No.8711909

>>8711801
A few poor Mexicans, sure very nice. Living in a city full of poor Mexicans as a white or Asian, very different. Every school I went to that was predominately Mexican was absolute trash, the kids harassed and assaulted the students and teachers at levels I had never seen before.

>> No.8711927

>>8711849
I honestly hate liberals for this reason. It's fucking patronizing.

>> No.8711931

>>8711807
I'm well aware of the cycles of history.
I agree with you though. It amazes me as well and when I try to explain how aiding the younger hungrier wolves rising up the hill when we're the retarded, old, arrogant, and degenerate wolf on the top who got complacent as always happens in history so few seem to get this and don't appreciate what's happening.
Oh well. Everything turns to shit.
The future looks like trash and you get it. Enjoy. Still a step up for you though so you're making.out like bandits. Check your privilege.

>> No.8712054

>>8711931
I think it's funny that one anon said that we will never work in software. When I actually run a website for a living. I just don't currently employ anybody. Although I currently have a German freelancer working for me. I love being a burger.

>> No.8712165

>>8712054
Implying it wasn't me :^)
Phone posting so my IP and poster id changes.