Buy house for $171,000

Your interest is paid upfront, principal is paid down in the later the years, also your rate is high, at least for my market. As others have stated If I can lease the unit at an 8% cap I’m basically letting my renters pay the equity in my house. Many first time Re investors will do this with a duplex, live in one half, lease the other half and let the renter pay the mortgage. Your biggest expense will be your contributed capital, typically 20% of the loan value. I can also write off my mortgage interest and any capx on the property, so navigating tax laws is key for maximizing IRR. Trust me, renting is not the way to go, you’re basically a cuck building no equity. Anyone who tells you differently is uneducated on the topic.

t. Masters degree in Real Estate finance with multiple properties both commercial and residential

Houses are negative cash flow unless rented out or used to create positive cash flow. It's not an asset, it's a liability.
Pick up an accounting book dude. Appreciation is not actualized until sold, and with where we're headed, appreciation doesn't look very good, unless the government continues to inflate the dollar to oblivion, which it is doing quite fervently. Look at the US debt to GDP. That may provide some insight.

what the fuck are you talking about

plugging this into an amortization calculator you would have a 157k balance after 5 years if you put 0 down.

buying is a scam dude

>5.3%
Are you insane?

>be savvy
>realize they're lying about inflation
>take out as big a loan as a i can
>fed pumps the fuck out of my house bags
>keep paying minimum debt with money that's progressively devalued
>by the time it's over. paying back my loan with funny money and holding a real asset

People that bought homes int he 1950's were paying their loans back with dollars that had devalued quite significantly by the 1970s.

Yes this is pol

This. Even if you assume the 3% inflation the kikes tell you to believe, after just 20 years you’re giving the bank worthless coupons for your asset.

I imagine duplexes are going to be on a fire sale here very shortly...

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How fucked are you for the next few months when your renters don’t pay

Because the Fed's money printer will inflate your debt away

Shitty rate user. You should start paying extra on your principal if you plan on living in that home for more then a few years.

Every board is pol faggot

>where we are headed people won’t need houses
You realize nobody is going to sell their home for peanuts when it’s all they have, right? Better to have a home than nothing at all. If the banks go under you won’t even need to pay your mortgage.

7% huh?

Why don't you just buy something outright like we did back in my day?

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>Multiple properties

Kys

People like having a home and not renting around a bunch of degenerates. Also, 5.3% interest is a rip off even 3 years ago. You can get 3.0% and even buy mortgage points to the point where the interest is barely noticeable

As far as investing goes, rental properties are a waste of time and money unless you can know how to renovate and repair every part of the home.

social status of "owning" a house

Prices are going up, not down. That's how inflation works.

user if you're still in this thread:

How does a poorer person become a homeowner? I'm 30 with no living family and a saving of about 20k USD. Its kind of been my dream to be a homeowner. In short, how would you proceed in my shoes without bankrupting myself?

Your credit/DTI is nigger tier if 5.3% is the best you can get today

Yeah until a pandemic happens and your renters aren't paying anymore

>5.3%
>30 years
>no/minimum down
Stop falling for scams. We seriously need to teach people how debt works or we will be stuck in slavery forever. We need to stop squabbling over fucking pennies when we can be curing cancer and aging and exploring the cosmos.

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>rent
>pay your landlord's mortgage
>pay your landlord's profit margin
>get 0 equity

>paying the minimum

I bet credit cards love you too. What part of 500/mth for a 200,000 house doesn’t trigger your spider senses?

Some people may have no choice to sell. Either that or foreclosure.

Subtle

Wrong. The lost rent will come out of their security deposit, or the government will give them unemployment and they still have to make their rent.

Also, landlords can apply for forebearance at this time and not have to pay their mortgages for 3-6 months meanwhile the rentcuck has to.

Your time nears, landlord.

Hating kikes is not anti-semitic

not even close. maintaining a house costs money. I've probably thrown 10k at my boiler alone over the last 10 years. OPs example is accurate, but just goes to show you have much of a scam 30 year mortgages (at 5.3%) are.

Thats because you are paying for a service. Theoretically, it should be cheaper, and there is no interest, so the difference can be used for other things like investing. Obviously, thats not always the case.

Based and anti-zionist pilled!

No theoretically. Your landlord has a mortgage. When you rent, you are paying more than the cost of that mortgage. You are paying for his profit, and a lot of other things. You are probably also paying a higher tax rate. You are also probably paying your landlord to pay a property manager. They'll take their profit too. That property manager also pays mechanics, plumbers, etc. for shit that you could probably do yourself or hire someone yourself for much cheaper.

There are never cost savings to renting, because your landlord is paying the same costs, plus more, and he makes money, so by definition you have to pay more renting. You also get leverage when buying. If you put 20% down for example, and your house appreciates 5%, you actually made 25% return. And on average houses will appreciate closer to inflation of the money supply, not CPI, they usually rise >6%/year. So you will get much better returns on average than something like an index fund in the stock market.

ye increase that mortgage payment number by 2% and divide by 12. rent out so that tenant "breaks even" and you get 2% profertino

Subtle

fed

>pay off house
>still have to pay property tax or you lose your house

this math doesn’t even make sense its 5.31 percent total so like $9,000 interest on a $171,000=$180,000

This

*Pays property taxes*

>what is the time value of money
I've never bought a single stock or shitcoin and I know this

is this just a board for trannyposting?

Hating kikes is universal.

The interest on loans are added daily, not on the entire loan. Look at daily interest rates and how these loans actually work. It's not even close to what is actually stated. They do this for clueless people.

Mmmm tasty user I like your posting

go back to re...ddit bernstein

move to a place where property isn't a total ripoff (hint: not a major city)

or we could throw them out of our nation... 110 when?

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if you don't pay your mortgage the banks confiscate your house as collateral, you aren't safe until the loan is paid off

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Then if you don't pay property taxes after you own the house the government takes it.

Because it actually makes more sense then renting enjoy wage slavery.