Rental Income

Congrats user. I did the same thing for awhile. It’s really not hard. It’s super easy to rental income several hundy above your mortgage payments. And more and more people are renting now. I eventually sold my house to move into another investment but you’re doing it right.

You know he could always sell take more profits from the rise of the value and then buy a newer house and do it all over. Over time add another home and another. It’s a great way to make money.

I bought a duplex, pay 1800 total costs a month

My tenant pays 1500 of it

Almost cost free living, saving the rest for another property

>how are you vetting your rentcucks?
Criminal check, credit check and 2 refs

>how much did you have to put down as % of total price?
5%

When? 10 years later?

Thanks user.
I got a house with a separate entrance and unfinished basement. We finished the basement and put up walls, a bathroom and mini kitchen.
This is the best financial decision of my life.

>Almost cost free living, saving the rest for another property
I know!!
It's fucking amazing.
It's like a cheat code in life.
I mean why the fuck don't people do this?

>NO NO! I WANT TO SPEND EVERYTHING I EARN IMMEDIATELY INSTEAD OF SAVING FOR MY FUTURE

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so you got a primary residence mortgage and built a cuckshed. no way they would let you get a true investment mortgage with that little down and no job

>be me
>buy 2nd apartment at 27 in EU capital
>100% airbnb
>get some student to clean
>800 euro a month pre tax

Now corona dont fuck this up

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I had a job the same job for 6 years, that's how I was able to do this.
I don't work anymore.

Based

You guys are making me jelly. I would like to do this also. I think you've made it as far as I'm concerned

anyone can do it with 1 to 20 leverage and 4% interest. you can buy a $200000 house for $10000

>I would like to do this also. I think you've made it as far as I'm concerned
You can do it user, you just have to self sacrifice for a year or more(or less depending on your job)
and have good credit.
I believe in you.

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I will screencap that for when I have 10k (not far) so I can figure out how the hell this stuff works lol. I don't know yet how to leverage that money

Get good credit user.

>be me
>live at home with mom and dad
>they die
>i made it

>go to your bank
>give them paystubs
>they will look at paystubs and account balances
>they will tell you how much you are qualified for
>take that piece of paper to a realtor

I would do it right now but I already made it in stocks and my job history is trashed.

Not sure how much is enough? In the past ten years my debt has not gone over 10k USD, and I don't use credi cards. That's my entire working life. Currently debt free also.

How fucking cheap are houses in your country??
Try doing this in a rich EU country. You fucking can't unless you already /made it/ because that's how much a house costs. All your fucking money.

You need to get a credit card with a decent limit, buy a bunch of shit and then pay it off completely. Do this constantly to build up credit.

>Currently debt free also.
They want to see that you can get into debt, hold a balance and then pay it off.

You're telling me it's impossible to save up 5% for the down payment? lol

Italy doesnt even have a mortgage market. They are serfs.

>I don't work anymore.

Until something breaks.

That's what my buffer fund is for.
I do work sometimes, I do side gigs and choose my own hours.

>be me
>yuropoor
>sell a shitty mobile app i had developed 4 years ago
>get 160k for it
>buy one apartment, have another where i can live
>throw rest into crypto, win some, lose some
>have a decent online business that makes me $700/month

i'd like to do the same, but my job history is fucked because of me not having one of those comfy corporate jobs. banks dont like neets like me who had one good idea and executed it. also my current site wont fly either

so im sitting here, renting one apartment, living in the other, and having 40k usd saved up. id love to buy another one and do what you're doing user, but banks are fucking me sadly.

>Why the fuck don't people do this?

Because everyone is already busy paying most of their income to someone who already does this. You can't jew and be jewed at the same time.

>be me
>the year is 2009
>people jumping off buildings and shit
>i cashout out of the market in summer 2007 :)
>make frens with disposition manager at bank
>buy 6 houses from bank at the bare minimum
>rent properties at 15-20 cap for 7 years
>2016 election scares me
>sell all properties at 5x+
>roll prophits into crypto
>2017 happens
>NEET LIFE GANG
My fucking kids never have to work kek. Why do wagies even exist?

>ANYONE could do it.
you mean any american could do it
no way to do that in europe

>>sell a shitty mobile app i had developed 4 years ago
This is what I wanted to do.
What is your app about?

>>have a decent online business that makes me $700/month
A different business? What is it?

I was renting before I did this.
Almost everybody can save money.

>no way to do that in europe
Why?

> a few years
> two houses

okay, larper. sig. at least my VRA bags will 50x this year.

If this isnt larp you might be the luckiest nigger on this planet

this is every millennial in Toronto right now.

Don't forget Vancouver user

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How do you know how to renovate a house without being a contractor?

Your on the hook for two mortgages and don't have steady employment. What could go wrong? I own a rental but my primary home is paid off. I continue to "wageslave" at $31 an hour with plenty of OT. Accumulating assets to downsize and then rent out primary home. Be smart user

lower income, much higher taxes and RE is much more expensive than in burgerland

What a joke? Why do you people put up with this commie bullshit?

The only reason prices have increased is because the central bank prints money and pumps it into the housing market. It's unsustainable in these markets.

A family friend of ours is a contractor.
I got a mortgage + improvements(20k) so I was able to renovate the unit and pay the contractor.

Stop bumping your own thread, faggot LARPer.

>What could go wrong?
one person can fuck me over for a few months
I still have the other tenants who can pay the bills
Sure they can all fuck me over at the same time but it's rare.
If this happened, I have a $4000 buffer to protect myself.
After this situation blew over, I would just go wageslave again for more income to build up my buffer and become stable.

No biggie.

>LARPer.
user, do you honestly believe it's impossible to buy a fucking house?
What are you even doing on Yas Forums?

The landlord jews get the rope first

No, I don't think it's impossible to buy a house. I think your story is obviously fake to anyone who has actually bought homes to rent out. You're leveraged 95% into two houses and claim that the rent covers all expenses plus yields enough money for you to quit your job. And your $4000 buffer is so laughable I really think it's bait. Unless you live somewhere with San Francisco rent but midwest prices, none of this adds up.

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Im about to do the same in a few years.
Im not saving cash like you did but im saving and investing in dividend stocks (well known ones ofc), so im planing that my Dividends are going to pay for the mortgage so that im basically rent free and in addition having a system which pays itself and grows over time which lend me into financial independence

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>people who own property and then rent out a portion of it are all JEWS
Horseshoe theory is real, neetsoc losers are just brainlet commies.

>You're leveraged 95% into two houses and claim that the rent covers all expenses plus yields enough money for you to quit your job.
LOL
Both homes are Duplexes. I make profit from each house. It was difficult to find/turn these units into duplexes.
>plus yields enough money for you to quit your job
It definitely does, just enough to survive though. I work side gig apps to get some spending money.
I'm comfortable living this way.

Fucking BASED
Fuck commies.

I hope you're successful user.

You arent retired with 2 rental properties you larping dumb fuck

But I literally dont work

>just save money for a few years and buy 2 houses bro

Lmao you must live in some sort of shithole where houses sell for 100k or something

>rent seeking
This is bad why?

>leech
I wageslaved about $25000 for both homes.
I could have used that money for a bunch of amazing things in my life but I decided to invest instead. How in the fuck am I a leech?
You are.

>I hope someone breaks everything in your rental and fills the drains and locks with expanding foam.
You are a literally a parasitical subhuman with shit genetics. Kill yourself.

It's not that hard, you're literally just stupid. Fox meet grapes.

How the fuck am I supposed to save up 20k for a deposit?