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Is rental property/real estate investing flame?
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Date: October 17th, 2021 6:14 PM Author: Shivering Gaped Area Newt is it really as simple as having a downpayment, then letting some yuppie cuck pay off the rest of your mortgage? do you manage everything yourself or have a property management co. do all the bitch work? and how do you screen for good tenants? (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43287202) |
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Date: October 18th, 2021 1:39 AM Author: Violet beady-eyed cuckold "real estate" has got to be the greatest flame of all time (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289135) |
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Date: October 18th, 2021 5:21 AM Author: fluffy out-of-control wrinkle (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289448) |
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Date: November 21st, 2021 4:41 PM Author: avocado boyish wagecucks theatre Yes go clean up trashed land and buildings (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43484203) |
Date: October 17th, 2021 6:15 PM Author: Irate Soul-stirring Rigor it’s real
it’s one of those “simple but not easy” type of deals |
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Date: October 17th, 2021 6:16 PM Author: orange apoplectic therapy and you know you get pwned by an eviction moratorium it will take 5 years to repay (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43287210) |
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Date: October 18th, 2021 1:12 AM Author: adventurous citrine chapel brethren (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289068) |
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Date: October 18th, 2021 1:26 AM Author: Silver Twinkling Uncleanness Unless the property value goes up 40% that year (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289113) |
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Date: October 17th, 2021 6:16 PM Author: translucent filthy hospital mad-dog skullcap Yes it’s a huge amount of work for tiny percentage gain returns
Avoid |
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Date: October 17th, 2021 6:19 PM Author: Irate Soul-stirring Rigor it’s not for everyone
but if you can do one value add refurbishment that allows you to refinance and pull all your cash out of the deal, then even if you’re only clearing $100 after expenses and debt payment, that’s infinite returns
idea would be to repeat this dozens of times |
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Date: October 17th, 2021 6:20 PM Author: translucent filthy hospital mad-dog skullcap So you’re leveraged up, then the eviction moratorium happens and your tenants stop paying rent, congrats you are now bankrupt (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43287234) |
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Date: October 17th, 2021 6:22 PM Author: stirring nudist site black woman (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43287240) |
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Date: October 17th, 2021 6:23 PM Author: Irate Soul-stirring Rigor ?
the value of the property is more than the loan on it, you just got back your down payment + rehab costs |
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Date: October 18th, 2021 1:12 AM Author: adventurous citrine chapel brethren (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289069) |
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Date: October 18th, 2021 2:04 AM Author: glittery chestnut goal in life orchestra pit Value add is a powerful thing when used in conjunction with refinancing.
Especially if you have passive income coming in from dividends or royalties or another property to pay off a mortgage while you get the property stabilized and/or guard against deadbeat tenants.
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Date: October 18th, 2021 4:41 AM Author: Irate Soul-stirring Rigor well better to build in vacancies/evictions to your model before you buy, but otherwise cr (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289398) |
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Date: October 18th, 2021 10:42 AM Author: titillating dilemma cumskin Gains are only part of the equation. I can offset a sizeable chunk of my W2 income tax per year through all the (((deductions))), plus you aren't actually spending much money on it. Every mortgage payment goes towards equity so the house is basically a savings account, appreciation is the cherry on top, and you get a couple hundred cash per month per door after expenses. (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43290134) |
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Date: October 17th, 2021 6:21 PM Author: stirring nudist site black woman Yes (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43287238) |
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Date: October 17th, 2021 6:22 PM Author: Shivering Gaped Area Newt op here again, if i bought a house and instantly started renting it, while i lived with my parents/grandparents...would that be shrewd? say i dont have plans on becoming a slumlord, but just want a paid-off house to call my own in 15-30 yrs (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43287245) |
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Date: October 17th, 2021 6:25 PM Author: Irate Soul-stirring Rigor you would need to find one where the rent covers the mortgage + all expenses + contingency funds + hopefully $50-100 a month
it’s not that easy if you’re new to the game |
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Date: October 17th, 2021 9:24 PM Author: brindle psychic half-breed It all depends on the tenant. Mine pays on time every month (auto ACH for free from Cozy) for the last 3-4 years, and I’ve never risen the rent. She pays my mortgage plus about $1k profit per month. (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43288100) |
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Date: October 17th, 2021 9:51 PM Author: Bat shit crazy crackhouse If you want it to be a truly passive income source you’re going to have to do a lot of work to find properties at the right price. If you can manage the property yourself and add some value, it is more feasible. But at that point it’s similar to running a business in that you’re doing work. (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43288262) |
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Date: October 17th, 2021 9:53 PM Author: haunting exciting pit not flame but works better in certain cities (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43288274) |
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Date: October 17th, 2021 10:10 PM Author: Contagious office yes. but have never bought residential as an investment, all commercial/raw land. (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43288372) |
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Date: October 17th, 2021 11:16 PM Author: haunting exciting pit why'd you do that fren (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43288713) |
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Date: October 17th, 2021 11:18 PM Author: stirring nudist site black woman some kike "friend" prob duped him into it (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43288715) |
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Date: October 17th, 2021 11:26 PM Author: Lake demanding business firm It works great -- one of those things where you think to yourself 'haha suckers!' as you rake in free money -- when you've got the right tenant. It's a negative-value proposition laden with trashy, stressful misery with the wrong tenant. (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43288750) |
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Date: October 17th, 2021 11:26 PM Author: Vibrant parlor Just eek out a $600 per month profit and then blow through $40k to replace a roof in year 5. (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43288753) |
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Date: October 18th, 2021 1:09 AM Author: Supple Center I recently replaced a roof in my home. It was $15k in a location where it has to be ready to withstand a hurricane. 3500+ sq ft house. (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289062) |
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Date: October 18th, 2021 1:22 AM Author: wonderful headpube hall condos are better for rentals (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289106) |
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Date: October 18th, 2021 9:25 AM Author: Supple Center Then you're not paying for a $40k roof on a $600/month for a single unit profit. (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289846) |
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Date: October 18th, 2021 1:13 AM Author: adventurous citrine chapel brethren (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289074) |
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Date: October 18th, 2021 10:34 AM Author: Silver Twinkling Uncleanness And go from 10% equity to 40% (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43290106) |
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Date: October 18th, 2021 1:21 AM Author: wonderful headpube hall every single residential (SFR or 1-4 unit) successful landlord i've known has only ever talked about tenant selection. length at prior rental, credit check, pay stubs, length of employment, copies of tax returns, character references, family situation (who is living there, and are they on-the-side contributing to rent), and after all that, "their gut" which means whatever prejudices they have.
been a long time, but last time i rented, guy was cool, so was his wife. they interviewed tons of applicants. when we left and they brought a parade through our house, i realized his wife was the "gut check" one. the guy, when we applied, he asked for tax returns and pay stubs, then we had to have a half hour conversation about how i would afford the rent because i went solo the year before so showed a lot of start up losses. didn't give two fucks about me being a lawyer.
him: restaurant equipment salesman, her: "realtor" who mostly just did her husbands deals |
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Date: October 18th, 2021 1:42 AM Author: misunderstood burgundy resort it's hard enough to manage your own place, rental properties are headaches that while they may provide extra income this extra income comes with additional liability (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289147) |
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Date: October 18th, 2021 1:42 AM Author: glassy cocky candlestick maker i just think back on all the shitty roommates i had when i was young, and cant imagine it could ever return enough for me to deal with that crap as a landlord - eventually one will sneak through
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Date: October 18th, 2021 2:17 AM Author: carnelian institution I'd look into those trump towers on sunny isles. They allow monthly rents. But the prices are too inflated now, would be a great deal in 2010. (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289230) |
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Date: October 18th, 2021 5:20 AM Author: Deep Impressive Temple Boiling Water Has anyone tried buying an investment property in a tourist area and renting it out short-term (e.g., airbnb)? I am thinking of doing this. That seems like it would avoid the problem of deadbeat tenants. Plus I can use it myself when it is vacant. Even if I don't turn a profit (or take a small loss), I think it might be worth it to have my place on the beach that I can go a couple times per year without shelling out for a hotel. (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289447) |
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Date: October 18th, 2021 6:01 AM Author: navy submissive senate you need to have an onsight person to mind / maintain. I have a friend who does exactly what you propose in a beach area and the biggest risk you face is people trashing it (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289502) |
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Date: October 18th, 2021 5:35 AM Author: khaki ratface idea he suggested So how to get rich? (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289464) |
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Date: October 18th, 2021 5:52 AM Author: fluffy out-of-control wrinkle Work for you'reself (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289482) |
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Date: October 18th, 2021 5:54 AM Author: Irate Soul-stirring Rigor Lmao
the point of any work is to make enough money to buy income producing real estate |
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Date: October 18th, 2021 5:54 AM Author: Violet beady-eyed cuckold (retard shtick) (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289484) |
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Date: October 18th, 2021 5:55 AM Author: Irate Soul-stirring Rigor Lmao
keep thinking that trading money for time will make you "rich" |
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Date: October 18th, 2021 5:59 AM Author: Violet beady-eyed cuckold computer coins outpacing real estate gains by four digit percentages year after year, why (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289495) |
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Date: October 18th, 2021 6:00 AM Author: Irate Soul-stirring Rigor how long is that track record again, shithead? (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289499) |
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Date: October 18th, 2021 6:01 AM Author: Violet beady-eyed cuckold just take the L and go back to fixing toilets and barking at methed out tenants for the chance at barely breaking even (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289504) |
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Date: October 18th, 2021 6:02 AM Author: Irate Soul-stirring Rigor how do you have time to post here in between checking your shitcoin "balance" 1000x a day?
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Date: October 18th, 2021 5:57 AM Author: fluffy out-of-control wrinkle (Lawyer) (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289490) |
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Date: October 18th, 2021 5:58 AM Author: Irate Soul-stirring Rigor nope, not a lolyer (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289492) |
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Date: October 18th, 2021 6:03 AM Author: fluffy out-of-control wrinkle Lawyers are scum. (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289509) |
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Date: October 18th, 2021 6:08 AM Author: Irate Soul-stirring Rigor cunts, even (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289517) |
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Date: October 18th, 2021 6:10 AM Author: fluffy out-of-control wrinkle Why do you like real estate? (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289524) |
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Date: October 18th, 2021 6:28 AM Author: Irate Soul-stirring Rigor hard asset that pays me every month
over time appreciation should certainly outpace inflation
tax/depreciation benefits
passive income |
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Date: October 18th, 2021 6:29 AM Author: fluffy out-of-control wrinkle Any moral quandaries? (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289559) |
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Date: October 18th, 2021 6:45 AM Author: Irate Soul-stirring Rigor where?
the bullshit comes from dem run cities where they make it almost impossible to build, thus leading to a massive deficit of housing |
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Date: October 18th, 2021 6:56 AM Author: fluffy out-of-control wrinkle Rampant overdevelopment etc... (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289576) |
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Date: October 18th, 2021 7:23 AM Author: Irate Soul-stirring Rigor where is that happening?
and even if it does happen, then we owners suffer because our values will drop in light of oversupply |
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Date: October 18th, 2021 7:45 PM Author: khaki ratface idea he suggested I'm a dental practice owner. It's awful and I'm poor. (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43293144) |
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Date: October 18th, 2021 6:00 AM Author: Primrose Rambunctious Plaza The thing about RE investing is that it’s the only market where a retail type investor has ready access to credit to leverage investment as well as other tax breaks.
If you finance balance of loan you get tax basis credit for full cost of investment even though you have only put 25 percent of your own money in. Then you can take depreciation to offset a lot of the rental income. Basically you can build a pot of wealth where the only after tax dollars you initially put in is the down payment. As loan goes down and equity increases, those equity increases ( ie the rent paying down loan) are not currently being (fully) taxed as income. Theoretically you will be taxed on all the depreciation you took when you sell, but that’s way down the road and there are other ways to minimize that tax bite (eg 1031 exchange, if you want to go that route). Compare to other types of investments where whatever money you invest, you have basically already paid taxes on.
In short it’s the one retail type investment (other than i guess retirement accounts) where you get a major tax deferral benefit. So it does make a lot of sense. It is work and a pain in the ass I’m sure. |
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Date: October 18th, 2021 6:01 AM Author: Irate Soul-stirring Rigor shhhhh, dont ruin it for people who think SOL is a good investment (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289505) |
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Date: October 18th, 2021 6:03 AM Author: Violet beady-eyed cuckold (idiot fag crunching numbers all weekend for years while coinmos effortlessly stack millions, billions) (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289508) |
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Date: October 18th, 2021 6:08 AM Author: Irate Soul-stirring Rigor Lmao (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289518) |
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Date: November 21st, 2021 2:12 PM Author: swashbuckling pontificating school cafeteria (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43483474) |
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Date: October 18th, 2021 6:57 AM Author: Mewling Painfully Honest Tanning Salon If you can do renovations yourself then it’s 180 imho
The whole thing for me seems like something for a FIRE bro or a pumo to do after early retirement or making one wrong move. |
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Date: October 18th, 2021 9:27 AM Author: Irate Soul-stirring Rigor doing renovations or management yourself means it's a poorly paid job, not a proper passive investment (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289851) |
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Date: October 18th, 2021 9:45 AM Author: Mewling Painfully Honest Tanning Salon Flipping can have decent ROI imho
Anyway it’s also just useful to know wtf you’re doing even if you aren’t DIYing |
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Date: October 18th, 2021 9:47 AM Author: Irate Soul-stirring Rigor flipping is good until it's not. you could easily get caught holding the bag in a downturn (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289904) |
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Date: October 18th, 2021 10:03 AM Author: Mewling Painfully Honest Tanning Salon Downturns don’t exist (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43289947) |
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Date: October 18th, 2021 10:32 AM Author: Irate Soul-stirring Rigor on a long enough timeline, sure. but short ones do exist and for the leveraged this is a killer (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43290096) |
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Date: October 18th, 2021 10:45 AM Author: titillating dilemma cumskin IDK, I'd be happy for 15% ROI for having to work a couple days per year replacing toilets and fixing sticky doors, but what do I know I've just been doing this for a few years. Maybe it eventually wears you out, but for me it's been phenomenal. (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43290144) |
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Date: October 18th, 2021 11:03 AM Author: Irate Soul-stirring Rigor what would the ROI be if you paid someone else to do it?
and how many properties are you working on?
for most serious investors it's about getting to enough scale where you don't have to do have a job anymore, and that's almost impossible to get to if youre wasting time on handyman shit instead of looking for new deals |
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Date: October 18th, 2021 11:17 AM Author: titillating dilemma cumskin Not as good, but still PWNing the S&P and with much better tax benefits.
I'm never planning to get to that kind of crazy scale, the leverage terrifies me. If I can get up to 10-15 doors I'd be set to retire with that supplementing my IRA/401K/crypto/side gig money.
I have 2 units, did a full refurb on one this summer over the course of a month - thanks to WFH scam I could take conference calls while I was painting or laying tile. |
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Date: October 19th, 2021 9:21 PM Author: haunting exciting pit jesus painting and laying tile sounds 120 as fuck
is 120 the low end of the LSAT scale |
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Date: November 21st, 2021 4:40 PM Author: swashbuckling pontificating school cafeteria 180 (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43484194) |
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Date: October 18th, 2021 4:34 PM Author: magenta jap I'm thinking about buying a condo to airbnb in a 2nd/3rd tier city that I will self-manage and self-clean. I'm handy and have done lots of renovation work. How do I select the condo? (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43292091) |
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Date: October 18th, 2021 4:36 PM Author: laughsome telephone plz poa link when ur done (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43292107) |
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Date: November 21st, 2021 4:42 PM Author: Copper Odious Brunch Death Wish (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43484206) |
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Date: January 15th, 2022 5:26 PM Author: Cyan forum (http://www.autoadmit.com/thread.php?thread_id=4944186&forum_id=2#43789604) |