The Official Homeowners Thread

[phcitywarrior]

Wow. I hope when I jump in, I will have priced the rooms to where I'll keep most of the riff raff out, but still be attractive. Come next year, I'll see, I guess.

See, the way Airbnb has their algorithms set up, they kind of want a "race to the bottom" if you will. Network effect essentially. Airbnb gets more valuable as more and more people use it.

Without going into too much detail I help my parents AirBnb a house we have. Last guest used the house to host some sort of event that got the block jumping.

When my neighbour gave me the details today.....

 

[F K]

Bought a house in a gentrifying neighborhood in ATL 2 years ago, prices are going through the roof and I'm thinking about selling before the market crashes and moving somewhere cheaper like chicago or buffalo. I bought up here to escape climate change but I'm thinking it might not be far north enough .

 

[OfTheCross]

Bought a house in a gentrifying neighborhood in ATL 2 years ago, prices are going through the roof and I'm thinking about selling before the market crashes and moving somewhere cheaper like chicago or buffalo. I bought up here to escape climate change but I'm thinking it might not be far north enough .

Climate Change probably won't impact you in your lifetime

But, yeah...the market is high. If the other places are that much cheaper go ahead and sell

 

[F K]

Climate Change probably won't impact you in your lifetime

But, yeah...the market is high. If the other places are that much cheaper go ahead and sell

I know that but i'm trying to buy for the future generations. I'm still making money off property my fam bought in like 1940 back in the old country. with mortgage, expenses etc.. I know i'm not going to be making big money off homes in my lifetime, the key is to give a basically free house to your kids and give them that head start.

 

[OfTheCross]

I know that but i'm trying to buy for the future generations. I'm still making money off property my fam bought in like 1940 back in the old country. with mortgage, expenses etc.. I know i'm not going to be making big money off homes in my lifetimes, the key is to give a basically free house to your kids and give them that head start.

Then by something in Colorado.

Also, NOAA has a nice simulator of what the effects of climate change will look like.

I'm concerned with Sea Level Rise because I'm in South Florida...I'm looking to buy something out of state in the future

Sea Level Rise and Coastal Flooding Impacts

 

[phcitywarrior]

Was chopping it up with my pops today concerning buying a home. He said I should look to getting a 2 bedroom house to start building equity. I get where he's coming from, but I'm really not ready for homeownership right now (24). Not to say I don't understand the importance, but more so I have other things I'd rather invest in.

Coli Homeowners, when did you know you were ready to buy a house?

 

[Dolla$]

Was chopping it up with my pops today concerning buying a home. He said I should look to getting a 2 bedroom house to start building equity. I get where he's coming from, but I'm really not ready for homeownership right now (24). Not to say I don't understand the importance, but more so I have other things I'd rather invest in.

Coli Homeowners, when did you know you were ready to buy a house?

Bought my crib around the same age as you I’m 29 now. Best decision i ever made. Listen your pops breh

Homeownership is really not that difficult especially if you buy a new or a house in great condition. If you get a two family half of the stress of keeping a roof over your head is gone

 

[OfTheCross]

Was chopping it up with my pops today concerning buying a home. He said I should look to getting a 2 bedroom house to start building equity. I get where he's coming from, but I'm really not ready for homeownership right now (24). Not to say I don't understand the importance, but more so I have other things I'd rather invest in.

Coli Homeowners, when did you know you were ready to buy a house?

When I decided to move out I wasn't trying to pay someone else's mortgage for them

 

[phcitywarrior]

Bought my crib around the same age as you I’m 29 now. Best decision i ever made. Listen your pops breh

Homeownership is really not that difficult especially if you buy a new or a house in great condition. If you get a two family half of the stress of keeping a roof over your head is gone

I guess the big thing for me is this: I have plans of moving out of the country (Nigeria) in 18-24 months. While there, I'd prefer to throw my investments into Nigeria and see what's popping as far as opportunity. I feel a home leaves me with less flexibility.

When I decided to move out I wasn't trying to pay someone else's mortgage for them

True that. My rent now is very very cheap. Less than 15% of my net income. I know you can get homes for cheap but I'm not quite certain I'll be in this area for that much longer or at least it isn't my hope to set up shop here.

 

[F K]

I guess the big thing for me is this: I have plans of moving out of the country (Nigeria) in 18-24 months. While there, I'd prefer to throw my investments into Nigeria and see what's popping as far as opportunity. I feel a home leaves me with less flexibility.



True that. My rent now is very very cheap. Less than 15% of my net income. I know you can get homes for cheap but I'm not quite certain I'll be in this area for that much longer or at least it isn't my hope to set up shop here.

buy when you get back. we will probably be in a recession and you can get some homes for cheap

 

[F K]

Then by something in Colorado.

Also, NOAA has a nice simulator of what the effects of climate change will look like.

I'm concerned with Sea Level Rise because I'm in South Florida...I'm looking to buy something out of state in the future

Sea Level Rise and Coastal Flooding Impacts

i'm from so fla too. I was visiting the folks during Irma and that shyt spooked me. all that flooding and power outages for a cat 3 that hit on the other side of the state

 

[phcitywarrior]

buy when you get back. we will probably be in a recession and you can get some homes for cheap

I think the way I might look at it is to have a Nigeria investment fund and a housing fund. My first house aint gonna be the one I raise my kids in, but more an investment property. That might be there better way to look at it.

 

[F K]

I think the way I might look at it is to have a Nigeria investment fund and a housing fund. My first house aint gonna be the one I raise my kids in, but more an investment property. That might be there better way to look at it.

yeah I would not buy any homes for the sole purpose of living in, unless you get a really solid federal job or a tenured professor gig. Only buy investment properties. Trying to buy dream/ forever homes is how people get stuck with houses they overpaid for and can't sell for the right price. Eventually find the worst/cheapest house in the good school district zones, or rent in those places when you get kids.

 

[Mega]

Was chopping it up with my pops today concerning buying a home. He said I should look to getting a 2 bedroom house to start building equity. I get where he's coming from, but I'm really not ready for homeownership right now (24). Not to say I don't understand the importance, but more so I have other things I'd rather invest in.

Coli Homeowners, when did you know you were ready to buy a house?

I was in the same exact spot as you at your age. My dad told me back in 2012-2013 to buy. I was shook asf after seeing the 2009 collaspe.

But I listened to him and bought my first property. It was a 3 family for 325k.

Best decision I ever made.

 

[phcitywarrior]

I was in the same exact spot as you at your age. My dad told me back in 2012-2013 to buy. I was shook asf after seeing the 2009 collaspe.

But I listened to him and bought my first property. It was a 3 family for 325k.

Best decision I ever made.

How much did you put down and why do you say it was a good decision?

I'm not shook because of a collapse in value per se (you don't lose money on an asset until you sell), but I do worry about maintaining a house while in Nigeria.