where do you live?The wealth gap between whites and blacks in this country is largely based on the effects of whites being able to buy homes in the 50s and 60s
I’ve seen people do the math on the investing vs buying thing and it may work out for people but it’s a lot of assumptions re returns made usually
Buying a house locks in a payment and in Some scenarios might leverage the ability to cash out if shyt hits the fan
Also these discussions always assume investments don’t flop
But yea I live in one of the best neighborhoods in my city and my mortgage is $1200 with total payment of $1500 with property taxes included
Avg rent for desirable neighborhoods like mine is now $1800. I could easily rent my crib out for $2000 a month
According to Zillow it appreciated $70k in 3 yrs
15 yrs from now my mortgage will still be $1200 and the avg rent will likely be $2500+ at this rate
Oh and if nycers, Chinese investors, and hipsters keep moving here the value will likely double by then
Oh and I have 6 figures in vanguard funds too. It’s entirely possible to buy a house AND invest money btw
Renting and reinvesting the savings from renting, will outperform owning and building equity
- Thread starter Robbie3000
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Just pick your poison. Cuz if the markets crash housing will too. Just pray u got a job
Not only does a house NOT pay you, it consistently sucks up more and more money with maintenance, taxes, and etc. You may be able to leave a house with let’s say 100k in take home after a sell but you have to calculate all the maintenance and etc to truly see how much you made on the “investment”. I’m sure a lot of people may see the sudden windfall and think it’s all net but in comparison to another type of investment with no covering costs you took a major L.
nikka you put that 80k in some aggressive investments for 15 years or so, let it marinate...let your earnings stay in the investment but slowly start moving the initial 80k into an S&P 500 ETF or other types of conservative balanced funds. All WITH NO CARRYING COST, NO REHABS, NO NOTHING...there’s multiple ways to skin a cat.
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Sp they own the land the station is being built on?depends on the market. buying city centers like NYC has it's upsides
Mortgages are definitely not scams. People who have shyt credit and no relationships with the banks are the only ones I hear say this.
Take it like this my family is building a gas station from the ground up the interest we're paying is only 3% interest, that's basically free money.
This thread...so much conflating home equity with an investment. If I buy underwear on the low and sell them high, its an investment. Wearing them indefinitely does not make them an investment. Yes underwear does not appreciate, but unless you have tenants you are only “investing “ on having a place to live.
I plan to rent and invest the difference for years to come. Job market go south? Breaking a lease is easier than walking away from a mortgage. Anything that goes wrong is in the hands of the owners, not me. I dont have to fight with the insurance company if a pipe bursts in the street and I somehow become liable. Upkeep on homes is not a small expense and unless the house was built in the past couple years, there is always something to fix.
I plan to rent and invest the difference for years to come. Job market go south? Breaking a lease is easier than walking away from a mortgage. Anything that goes wrong is in the hands of the owners, not me. I dont have to fight with the insurance company if a pipe bursts in the street and I somehow become liable. Upkeep on homes is not a small expense and unless the house was built in the past couple years, there is always something to fix.
They’re both clowns, Cardone is a liar and shiesty.
yeah, the land was 250,000
Damn thats not expensive at all where this at. I was lookin in GA and couldnt find anything close to that. Unless they had inside info
A home is an asset that over time appreciates with value, technically it is an investment.
It was an abandon piece of land that used to be a gas station, I think the family wanted to get rid of it.
It’s not an investment until you sell or get tenants.
Using that logic, buying stock in apple isnt an investment either if you dont sell
Thats wassup bro. Props to them. Im tryna get it in myself with that type of investment
That makes zero sense. While it is an “asset” you will need a place to live anyway. If its not multifamily, the “investment” is equity and we have seen people lose it all fooling with that. There is no “income” from the house.