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How much have you accumulated in savings and retirement accounts?
10-13-2017, 09:53 PM
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#271
- SmackBang77
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- SmackBang77
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more than you can afford pal
Permanent Resident of snap city (awaiting citizenship)
10-14-2017, 02:07 AM
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#272
- samsbolton
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- samsbolton
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Originally Posted By nosirrahx⏩
yeah, I have a serious problem..Do you really think people can't read right through this? You bring up a date (over and over) and crap on one specific asset class.
You gut burned and have salt for days. Whatever YOU did didn't work. BTW, you also live in a country where most of us don't (also not something you are mentioning).
Lets try this a different way. If you are so right why aren't you recommending the readers here to talk to others in real estate? If you are right won't they back you up?
Also why are not posting any math to back up your claims?
Lets leave it at that, an education is always good. I suggest everyone curious about real estate talk to a handful of people that make their $ that way.
Got a problem with that advice?
You gut burned and have salt for days. Whatever YOU did didn't work. BTW, you also live in a country where most of us don't (also not something you are mentioning).
Lets try this a different way. If you are so right why aren't you recommending the readers here to talk to others in real estate? If you are right won't they back you up?
Also why are not posting any math to back up your claims?
Lets leave it at that, an education is always good. I suggest everyone curious about real estate talk to a handful of people that make their $ that way.
Got a problem with that advice?
I never got burned at all. I've done very well with two properties..what are you going on about? What salt? They are most of my net worth lol. We didn't have a housing crash as such, and I didn't expect us to. There is a crucial difference between UK and US housing that eludes you.
Ive asked you on 5 different occasions to tell me why the sub prime crisis couldn't happen in your country again, and you haven't even started an answer.
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10-14-2017, 08:22 AM
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#273
- nosirrahx
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- nosirrahx
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Originally Posted By samsbolton⏩
I'm not even the first to bring it up in this thread.what are you going on about? What salt?
Originally Posted By samsbolton⏩
And there is the salt.Ive asked you on 5 different occasions to tell me why the sub prime crisis couldn't happen in your country again, and you haven't even started an answer.
Bro, you are changing the subject. Also, little pro tip, a low price only sucks if you have to sell that day.
If the places I rent go down in price, guess what, I wont sell them at that time. In fact if prices go to sh!t I might buy a few more buildings.
I will answer your off topic question though since it is clear that you are obsessed.
I am avoiding a potential crisis by not having an increase in property value be the driver of this plan. If you are collecting rent you always surpass what you bought for.
Look at this simple math. If I buy a duplex for 200K and collect 200K in rent as the property drops to 100K in value......I am still way ahead. Bonus if the property goes up while I collect rent but not critical.
Eat in a deficit to lose weight.
Hit your protein and fat minimums to stay healthy and keep your gainz.
Lift heavy and do HIIT to look and feel awesome.
Use the internet to learn why you should do these things and how to do these things.
10-14-2017, 08:36 AM
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#274
- Frank Drebin
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- Frank Drebin
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Originally Posted By nosirrahx⏩
Save it. For those that are afraid of RE there is no explaining even the basic math of rent collection and mortgage paydown, leveraging vs over leveraging, etc.I'm not even the first to bring it up in this thread.
And there is the salt.
Bro, you are changing the subject. Also, little pro tip, a low price only sucks if you have to sell that day.
If the places I rent go down in price, guess what, I wont sell them at that time. In fact if prices go to sh!t I might buy a few more buildings.
I will answer your off topic question though since it is clear that you are obsessed.
I am avoiding a potential crisis by not having an increase in property value be the driver of this plan. If you are collecting rent you always surpass what you bought for.
Look at this simple math. If I buy a duplex for 200K and collect 200K in rent as the property drops to 100K in value......I am still way ahead. Bonus if the property goes up while I collect rent but not critical.
And there is the salt.
Bro, you are changing the subject. Also, little pro tip, a low price only sucks if you have to sell that day.
If the places I rent go down in price, guess what, I wont sell them at that time. In fact if prices go to sh!t I might buy a few more buildings.
I will answer your off topic question though since it is clear that you are obsessed.
I am avoiding a potential crisis by not having an increase in property value be the driver of this plan. If you are collecting rent you always surpass what you bought for.
Look at this simple math. If I buy a duplex for 200K and collect 200K in rent as the property drops to 100K in value......I am still way ahead. Bonus if the property goes up while I collect rent but not critical.
I will say, certain areas lend themselves much easier to rental properties than others. For example, good luck purchasing for cash flow + in areas like Cali/Aus etc. Maybe its like that where Sam lives.
10-14-2017, 08:39 AM
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#275
Originally Posted By MetroBrah⏩
around 20K in roth IRA, about the same in employer matched 401K, 4K in stock market, 40K im about to invest in my first home.Are you above or below average for your age bracket?
Merica
<I.L.H.|C.O.E.>
RIP YGST
10-14-2017, 08:52 AM
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#276
- nosirrahx
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- nosirrahx
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Originally Posted By Frank
Prices out here are already pretty low. My place was under 500K and I got 13 acres, 4 bedroom 3 bath 2 bay main, 3 bed 1 bath guest, 3 bay detached 2 story barn and 1 bay detached 2 story barn. The larger barn has a finished 2nd floor.Save it. For those that are afraid of RE there is no explaining even the basic math of rent collection and mortgage paydown, leveraging vs over leveraging, etc.
I will say, certain areas lend themselves much easier to rental properties than others. For example, good luck purchasing for cash flow + in areas like Cali/Aus etc. Maybe its like that where Sam lives.
I will say, certain areas lend themselves much easier to rental properties than others. For example, good luck purchasing for cash flow + in areas like Cali/Aus etc. Maybe its like that where Sam lives.
Eat in a deficit to lose weight.
Hit your protein and fat minimums to stay healthy and keep your gainz.
Lift heavy and do HIIT to look and feel awesome.
Use the internet to learn why you should do these things and how to do these things.
10-14-2017, 08:57 AM
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#277
- Fozzy13
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- Fozzy13
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not very much..only make about 43k in a gov job..not much room for raises :/
I have too much in savings i need to invest in but want it through my IRA so i can withdraw IF needed.
Contribute 16% to retirement a month.
i have about 13k in roth IRA
6k in 401ks
25k in an ally CD
4k in an ally savings
just waiting on this next year so i can max out my IRA again.
I have too much in savings i need to invest in but want it through my IRA so i can withdraw IF needed.
Contribute 16% to retirement a month.
i have about 13k in roth IRA
6k in 401ks
25k in an ally CD
4k in an ally savings
just waiting on this next year so i can max out my IRA again.
n4l
Rayaarito
fappin
r32gojirra
10-14-2017, 02:13 PM
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#278
- samsbolton
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- samsbolton
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Originally Posted By nosirrahx⏩
You honestly don't have the first clue what you are talking about.I'm not even the first to bring it up in this thread.
And there is the salt.
Bro, you are changing the subject. Also, little pro tip, a low price only sucks if you have to sell that day.
If the places I rent go down in price, guess what, I wont sell them at that time. In fact if prices go to sh!t I might buy a few more buildings.
I will answer your off topic question though since it is clear that you are obsessed.
I am avoiding a potential crisis by not having an increase in property value be the driver of this plan. If you are collecting rent you always surpass what you bought for.
Look at this simple math. If I buy a duplex for 200K and collect 200K in rent as the property drops to 100K in value......I am still way ahead. Bonus if the property goes up while I collect rent but not critical.
And there is the salt.
Bro, you are changing the subject. Also, little pro tip, a low price only sucks if you have to sell that day.
If the places I rent go down in price, guess what, I wont sell them at that time. In fact if prices go to sh!t I might buy a few more buildings.
I will answer your off topic question though since it is clear that you are obsessed.
I am avoiding a potential crisis by not having an increase in property value be the driver of this plan. If you are collecting rent you always surpass what you bought for.
Look at this simple math. If I buy a duplex for 200K and collect 200K in rent as the property drops to 100K in value......I am still way ahead. Bonus if the property goes up while I collect rent but not critical.
I'll play along with your claims of 9 figure net worth(for the sake of argument). In your case, sure, a couple of million here or there can be chanced because you can cover it.
That's not hardly anybody in the real world though, and certainly not on the misc where the vast majority are in their twenties or younger. They don't have the capital to cover the potential downside.
Do you know how long it will take to collect 200k in rent on a 200k property? I'll tell you, at least 20 years, assuming no expenses (which is not realistic).
Peoples DID have to sell in your sub prime crisis..what do you think happened, the banks just kicked back and said 'sure, miss a few payments, we know you'll be good for it in a few years time'... fuggin lol. You really have no clue, zero, nada, no beuno.
2023 bertie awards 2024 nominations
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10-14-2017, 02:52 PM
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#279
- MURedHawk235
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- MURedHawk235
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Currently my wife and I have about 150k in retirement accounts (HSA, 401k, 403b, etc). I have a pension at work currently at 30k I don't count since well its a pension and who knows what it will be worth by the time I retire. We also have ~30k equity in our home, and ~25k in savings.
Wish I were saving more since I didn't really start until after I finished grad school. I still have 35k in student loans to pay off.
Wish I were saving more since I didn't really start until after I finished grad school. I still have 35k in student loans to pay off.
https://www.bogleheads.org/ for excellent investing advice for beginners
10-14-2017, 02:54 PM
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#280
10-14-2017, 06:22 PM
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#281
- nosirrahx
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- nosirrahx
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Originally Posted By samsbolton⏩
Thanks for your input. The thread will be up soon, feel free to add as much salt as you want there as well.salt
Eat in a deficit to lose weight.
Hit your protein and fat minimums to stay healthy and keep your gainz.
Lift heavy and do HIIT to look and feel awesome.
Use the internet to learn why you should do these things and how to do these things.
10-14-2017, 06:37 PM
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#282
- nosirrahx
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Originally Posted By samsbolton⏩
Rent on average in Easthampton MA is 1250. Factor in a duplex and you are looking @ 6.6 years. Obviously with expenses it will be longer but not 13 years longer.Do you know how long it will take to collect 200k in rent on a 200k property? I'll tell you, at least 20 years, assuming no expenses (which is not realistic).
I do not believe that you are this bad at math.
On top of that you also have to factor in all houses going to $0 value to even begin making your "math" work, which is obviously moronic.
Lets go all the way to stupid town and factor in some numbers that are pessimistic on a truly mythical level.
Lets say the value of the 200K duplex goes to 100K and expenses are 50% of rent collected. Clearly these numbers are both fantasy land buts lets roll with them for the sake of argument.
So (1250X2X12)/2 for a years rent from a duplex with expenses that are at least an order of magnitude beyond reasonable = 15,000.
The housing market somehow reduces the value by 50% on a 200k house, also not possible but lets pretend 100,000 of lost value is real. 100,000/15,000 = 6.6 years to get back to even.
Lets pretend that your 20 year figure is real for a second and see what it would take.
Lets say expenses are 75% of rent and the value of the house drops from 200k to 50k. That actually works out to exactly 20 years with expenses factored in.
Lets not factor in expenses and say we get to keep all 1250X2 a month, how cheap does a house need to get to require 20 years to get even.
600,000/30,000 (a years worth of rent expense free) = 20 years. That means the house has to go to -$400,000 to make your math work.
Eat in a deficit to lose weight.
Hit your protein and fat minimums to stay healthy and keep your gainz.
Lift heavy and do HIIT to look and feel awesome.
Use the internet to learn why you should do these things and how to do these things.
10-15-2017, 03:15 AM
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#283
- samsbolton
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- samsbolton
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Originally Posted By nosirrahx⏩
Completely hypothetical let me help you out.Rent on average in Easthampton MA is 1250. Factor in a duplex and you are looking @ 6.6 years. Obviously with expenses it will be longer but not 13 years longer.
I do not believe that you are this bad at math.
On top of that you also have to factor in all houses going to $0 value to even begin making your "math" work, which is obviously moronic.
Lets go all the way to stupid town and factor in some numbers that are pessimistic on a truly mythical level.
Lets say the value of the 200K duplex goes to 100K and expenses are 50% of rent collected. Clearly these numbers are both fantasy land buts lets roll with them for the sake of argument.
So (1250X2X12)/2 for a years rent from a duplex with expenses that are at least an order of magnitude beyond reasonable = 15,000.
The housing market somehow reduces the value by 50% on a 200k house, also not possible but lets pretend 100,000 of lost value is real. 100,000/15,000 = 6.6 years to get back to even.
Lets pretend that your 20 year figure is real for a second and see what it would take.
Lets say expenses are 75% of rent and the value of the house drops from 200k to 50k. That actually works out to exactly 20 years with expenses factored in.
Lets not factor in expenses and say we get to keep all 1250X2 a month, how cheap does a house need to get to require 20 years to get even.
600,000/30,000 (a years worth of rent expense free) = 20 years. That means the house has to go to -$400,000 to make your math work.
I do not believe that you are this bad at math.
On top of that you also have to factor in all houses going to $0 value to even begin making your "math" work, which is obviously moronic.
Lets go all the way to stupid town and factor in some numbers that are pessimistic on a truly mythical level.
Lets say the value of the 200K duplex goes to 100K and expenses are 50% of rent collected. Clearly these numbers are both fantasy land buts lets roll with them for the sake of argument.
So (1250X2X12)/2 for a years rent from a duplex with expenses that are at least an order of magnitude beyond reasonable = 15,000.
The housing market somehow reduces the value by 50% on a 200k house, also not possible but lets pretend 100,000 of lost value is real. 100,000/15,000 = 6.6 years to get back to even.
Lets pretend that your 20 year figure is real for a second and see what it would take.
Lets say expenses are 75% of rent and the value of the house drops from 200k to 50k. That actually works out to exactly 20 years with expenses factored in.
Lets not factor in expenses and say we get to keep all 1250X2 a month, how cheap does a house need to get to require 20 years to get even.
600,000/30,000 (a years worth of rent expense free) = 20 years. That means the house has to go to -$400,000 to make your math work.
In the real world, I have an apartment worth £200k gbp that I actually do rent out for 650 a month, or £7,800 a year. Now, I do keep it a little under market value since I have good tenants, £750 is probably what's it's worth. My letting agent takes 10%, expenses and insurances are another 10%.
So I'm looking at a net £600 a month, £7200 a year, or nearly 28 years to repay the capital. About a 3.6% ROI.
Now, factor in a mortgage, and your margin is wafer thin. Buy to let/landlord mortgages are more expensive than standard home owner mortgages. With excellent credit and a large cash deposit you may be able to get slightly under 3%.
Now, the point I'm trying to make to every miscer who thinks property is all that, is that using my example, property is a good investment ONLY if the value of the property appreciates substantially. Because this is what has happened over the last few years, a lot of people made a decent amount of money for doing very little, including me.
I have little confidence in that property appreciation carrying on unchecked because it's not politically sustainable. Young people are priced out of the south east of England, California, NY etc. We have already started increasing taxes on landlords and second home owners, prices have started to regress a little, and rightly so.
The ONLY thing I'm salty about is people with no real world experience giving frankly terrible advice. Your figures are way, way out, and to sound like a broken record, exactly the sort of back of an envelope 5 minute 3rd grade math calculations that got so many amateur landlords in trouble a decade ago.
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10-15-2017, 06:24 AM
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#284
- thek1d
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Originally Posted By samsbolton⏩
You 3.6% is with zero leverage, which is one of the primary benefits of REI.Completely hypothetical let me help you out.
In the real world, I have an apartment worth £200k gbp that I actually do rent out for 650 a month, or £7,800 a year. Now, I do keep it a little under market value since I have good tenants, £750 is probably what's it's worth. My letting agent takes 10%, expenses and insurances are another 10%.
So I'm looking at a net £600 a month, £7200 a year, or nearly 28 years to repay the capital. About a 3.6% ROI.
Now, factor in a mortgage, and your margin is wafer thin. Buy to let/landlord mortgages are more expensive than standard home owner mortgages. With excellent credit and a large cash deposit you may be able to get slightly under 3%.
Now, the point I'm trying to make to every miscer who thinks property is all that, is that using my example, property is a good investment ONLY if the value of the property appreciates substantially. Because this is what has happened over the last few years, a lot of people made a decent amount of money for doing very little, including me.
I have little confidence in that property appreciation carrying on unchecked because it's not politically sustainable. Young people are priced out of the south east of England, California, NY etc. We have already started increasing taxes on landlords and second home owners, prices have started to regress a little, and rightly so.
The ONLY thing I'm salty about is people with no real world experience giving frankly terrible advice. Your figures are way, way out, and to sound like a broken record, exactly the sort of back of an envelope 5 minute 3rd grade math calculations that got so many amateur landlords in trouble a decade ago.
In the real world, I have an apartment worth £200k gbp that I actually do rent out for 650 a month, or £7,800 a year. Now, I do keep it a little under market value since I have good tenants, £750 is probably what's it's worth. My letting agent takes 10%, expenses and insurances are another 10%.
So I'm looking at a net £600 a month, £7200 a year, or nearly 28 years to repay the capital. About a 3.6% ROI.
Now, factor in a mortgage, and your margin is wafer thin. Buy to let/landlord mortgages are more expensive than standard home owner mortgages. With excellent credit and a large cash deposit you may be able to get slightly under 3%.
Now, the point I'm trying to make to every miscer who thinks property is all that, is that using my example, property is a good investment ONLY if the value of the property appreciates substantially. Because this is what has happened over the last few years, a lot of people made a decent amount of money for doing very little, including me.
I have little confidence in that property appreciation carrying on unchecked because it's not politically sustainable. Young people are priced out of the south east of England, California, NY etc. We have already started increasing taxes on landlords and second home owners, prices have started to regress a little, and rightly so.
The ONLY thing I'm salty about is people with no real world experience giving frankly terrible advice. Your figures are way, way out, and to sound like a broken record, exactly the sort of back of an envelope 5 minute 3rd grade math calculations that got so many amateur landlords in trouble a decade ago.
Disagree that REI is only good if property appreciates. There are other factors at play, such as cash flow, opportunity costs, etc. In fact, I would say people who get into REI often over estimate the appreciation and when overvalued markets correct, they tend to get burned because they did not account for cash flow in their analysis.
10-15-2017, 06:58 AM
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#285
- nosirrahx
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Originally Posted By samsbolton⏩
Probably why everyone I know recommends a minimum of a duplex where 3 and 4 family homes even more preferable. Just LOL @ single family renting, no one recommends that. The rest of your salty drivel is meaningless due to this.Completely hypothetical let me help you out.
In the real world, I have an apartment worth £200k gbp that I actually do rent out for 650 a month, or £7,800 a year. Now, I do keep it a little under market value since I have good tenants, £750 is probably what's it's worth. My letting agent takes 10%, expenses and insurances are another 10%.
In the real world, I have an apartment worth £200k gbp that I actually do rent out for 650 a month, or £7,800 a year. Now, I do keep it a little under market value since I have good tenants, £750 is probably what's it's worth. My letting agent takes 10%, expenses and insurances are another 10%.
You could not pay me to get into single family renting. I also never recommend taking out huge loans to get into this. More than a few times I have mentioned being liquid enough to start in the black and only taking a loan out against your assets once you have that first duplex stable with paying tenants.
Also it wasn't the landlords that got into trouble, it was people that required their asset to appreciate. If that is the way you make your living then you are not a landlord, you are buying and selling real estate, something I am not interested in.
BTW, why are you giving advice if you are doing such a terrible job making money doing this for a living?
The building I am currently looking at is a 2 family for $189k. I am going to offer cash $169k and likely settle on $179k. Renovated it will be about $30K so lets call it $210k. Rent in that area is $1250 but lets be a nice guy like you and only charge $1000.
So $2000 a month X 12 months means I am collecting $24,000 a year. My brother owns a duplex on the same street and pays about $3000 a year on maintenance (does most of that himself) and taxes.
Lets go to crazy town and call the expenses $5000 leaving $19,000 a year. Lets now pretend that your crystal ball that tells you that our housing market will crash but for some reason can't help you make $ is right and I lose 50% on the value of the duplex and for the hell of it lets also pretend that renovations do not factor in.
Now the duplex is worth 90K and I am taking in $19,000 a year all with numbers that are exaggerated to a ridiculously pessimistic degree. $210k-$90k= $120k. $120k/$19k=6.13 years but lets round that up to 10 years because we should stay consistent with using moron math.
So if catastrophe strikes, I charge "nice guy" rent and assume that everything goes impossibly wrong this takes 10 years to turn out OK.
Eat in a deficit to lose weight.
Hit your protein and fat minimums to stay healthy and keep your gainz.
Lift heavy and do HIIT to look and feel awesome.
Use the internet to learn why you should do these things and how to do these things.
10-15-2017, 07:26 AM
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#286
- samsbolton
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Originally Posted By nosirrahx⏩
Do you know what I've realised you know everything, which is remarkable given that I've been a landlord 7 years and you haven't done dik, but there it is. Good luck sinking your imaginary millions into RE, you need it.Probably why everyone I know recommends a minimum of a duplex where 3 and 4 family homes even more preferable. Just LOL @ single family renting, no one recommends that. The rest of your salty drivel is meaningless due to this.
You could not pay me to get into single family renting. I also never recommend taking out huge loans to get into this. More than a few times I have mentioned being liquid enough to start in the black and only taking a loan out against your assets once you have that first duplex stable with paying tenants.
Also it wasn't the landlords that got into trouble, it was people that required their asset to appreciate. If that is the way you make your living then you are not a landlord, you are buying and selling real estate, something I am not interested in.
BTW, why are you giving advice if you are doing such a terrible job making money doing this for a living?
The building I am currently looking at is a 2 family for $189k. I am going to offer cash $169k and likely settle on $179k. Renovated it will be about $30K so lets call it $210k. Rent in that area is $1250 but lets be a nice guy like you and only charge $1000.
So $2000 a month X 12 months means I am collecting $24,000 a year. My brother owns a duplex on the same street and pays about $3000 a year on maintenance (does most of that himself) and taxes.
Lets go to crazy town and call the expenses $5000 leaving $19,000 a year. Lets now pretend that your crystal ball that tells you that our housing market will crash but for some reason can't help you make $ is right and I lose 50% on the value of the duplex and for the hell of it lets also pretend that renovations do not factor in.
Now the duplex is worth 90K and I am taking in $19,000 a year all with numbers that are exaggerated to a ridiculously pessimistic degree. $210k-$90k= $120k. $120k/$19k=6.13 years but lets round that up to 10 years because we should stay consistent with using moron math.
So if catastrophe strikes, I charge "nice guy" rent and assume that everything goes impossibly wrong this takes 10 years to turn out OK.
You could not pay me to get into single family renting. I also never recommend taking out huge loans to get into this. More than a few times I have mentioned being liquid enough to start in the black and only taking a loan out against your assets once you have that first duplex stable with paying tenants.
Also it wasn't the landlords that got into trouble, it was people that required their asset to appreciate. If that is the way you make your living then you are not a landlord, you are buying and selling real estate, something I am not interested in.
BTW, why are you giving advice if you are doing such a terrible job making money doing this for a living?
The building I am currently looking at is a 2 family for $189k. I am going to offer cash $169k and likely settle on $179k. Renovated it will be about $30K so lets call it $210k. Rent in that area is $1250 but lets be a nice guy like you and only charge $1000.
So $2000 a month X 12 months means I am collecting $24,000 a year. My brother owns a duplex on the same street and pays about $3000 a year on maintenance (does most of that himself) and taxes.
Lets go to crazy town and call the expenses $5000 leaving $19,000 a year. Lets now pretend that your crystal ball that tells you that our housing market will crash but for some reason can't help you make $ is right and I lose 50% on the value of the duplex and for the hell of it lets also pretend that renovations do not factor in.
Now the duplex is worth 90K and I am taking in $19,000 a year all with numbers that are exaggerated to a ridiculously pessimistic degree. $210k-$90k= $120k. $120k/$19k=6.13 years but lets round that up to 10 years because we should stay consistent with using moron math.
So if catastrophe strikes, I charge "nice guy" rent and assume that everything goes impossibly wrong this takes 10 years to turn out OK.
2023 bertie awards 2024 nominations
https://forum.obnoxiousbrutes.com/showthread.php?t=184693083
10-15-2017, 06:05 PM
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#287
- nosirrahx
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- nosirrahx
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Originally Posted By samsbolton⏩
Make sure to join the thread when I talk about my experience getting into rental properties. It will be nice to have a clown dance around and entertain us.Do you know what I've realised you know everything, which is remarkable given that I've been a landlord 7 years and you haven't done dik, but there it is. Good luck sinking your imaginary millions into RE, you need it.
Eat in a deficit to lose weight.
Hit your protein and fat minimums to stay healthy and keep your gainz.
Lift heavy and do HIIT to look and feel awesome.
Use the internet to learn why you should do these things and how to do these things.
11-30-2017, 10:01 AM
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#288
- Zjunky
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- Zjunky
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> How much have you accumulated in savings and retirement accounts?
People - some of you are derailing the thread. If you want to measure your d###s or your real estate assets, go make another thread. That wasn't the question.
As for me, I'm behind where I want/need to be. My company stopped their partial 401K matching after the financial crisis. I have put away just over six figures in that, but still need to focus on finishing paying off grad school (a very expensive mistake btw - if you do grad school, don't go private and on loans). Between that, stocks and my personal IRAs I probably have about 150K set aside.
I still have some catching up to do. Yes, at my age I know I need to get it in gear.
People - some of you are derailing the thread. If you want to measure your d###s or your real estate assets, go make another thread. That wasn't the question.
As for me, I'm behind where I want/need to be. My company stopped their partial 401K matching after the financial crisis. I have put away just over six figures in that, but still need to focus on finishing paying off grad school (a very expensive mistake btw - if you do grad school, don't go private and on loans). Between that, stocks and my personal IRAs I probably have about 150K set aside.
I still have some catching up to do. Yes, at my age I know I need to get it in gear.
11-30-2017, 10:10 AM
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#289
11-30-2017, 10:12 AM
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#290
Originally Posted By Zjunky⏩
having six figures socked away is nothing to sneeze at. Once you have a paid off dwelling, you can live life on easy mode in 90% of the United States (unless you are a big spender)> How much have you accumulated in savings and retirement accounts?
People - some of you are derailing the thread. If you want to measure your d###s or your real estate assets, go make another thread. That wasn't the question.
As for me, I'm behind where I want/need to be. My company stopped their partial 401K matching after the financial crisis. I have put away just over six figures in that, but still need to focus on finishing paying off grad school (a very expensive mistake btw - if you do grad school, don't go private and on loans). Between that, stocks and my personal IRAs I probably have about 150K set aside.
I still have some catching up to do. Yes, at my age I know I need to get it in gear.
People - some of you are derailing the thread. If you want to measure your d###s or your real estate assets, go make another thread. That wasn't the question.
As for me, I'm behind where I want/need to be. My company stopped their partial 401K matching after the financial crisis. I have put away just over six figures in that, but still need to focus on finishing paying off grad school (a very expensive mistake btw - if you do grad school, don't go private and on loans). Between that, stocks and my personal IRAs I probably have about 150K set aside.
I still have some catching up to do. Yes, at my age I know I need to get it in gear.
11-30-2017, 10:14 AM
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#291
- EnforcerOTF
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- EnforcerOTF
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not enough; never is
11-30-2017, 10:15 AM
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#292
- Zerafian
- Droppin' truth bombs
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- Zerafian
- Droppin' truth bombs
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considering the average person doesnt have $2k in savings...Im doing just fune
not enough to brag in a thread about it though
not enough to brag in a thread about it though
Carb Mal-absorption, no breads, sugary snacks, rice, pasta...live off of 30-40g a day.
Eosinophilic eso****itis, cant ingest dairy or my eso****us closes up
11-30-2017, 10:23 AM
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#293
- DumpsterFire
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- DumpsterFire
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Not enough to brag, but Ill get a nice government pension.
**Drinks colon cleanse for fun crew**
11-30-2017, 10:27 AM
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#294
- RobParks2M
- mad hatter
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- RobParks2M
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I've contributed something like $2k towards retirement this year which should be matched at the end of the year by my company(have to hit the hours threshold which I should by the skin of my teeth). Not really focusing on retirement as I have a lot of obligations this year and I plan on retiring wealthy so no point in putting tons of money into a 401k when I will be getting taxed at potentially a higher rate than I am currently paying. So this year I am getting my match and leaving it at that. Student loans are fairly big unfortunately, but luckily I have a great career and it started out strong and hopefully will just keep getting better.
Fitness connoisseur
0.4 mg of party's over wake the FK up!
"the personification of greatness"
11-30-2017, 10:47 AM
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#295
11-30-2017, 12:25 PM
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#296
11-30-2017, 12:26 PM
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#297
11-30-2017, 12:29 PM
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#298
- Jacobcapra
- AAS Free since '93
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- Jacobcapra
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Originally Posted By Zjunky⏩
not bad but still having debt at 50 is not a good sign. Most people have their homes, cars, etc. paid off and begin aggressively saving around that age.> How much have you accumulated in savings and retirement accounts?
People - some of you are derailing the thread. If you want to measure your d###s or your real estate assets, go make another thread. That wasn't the question.
As for me, I'm behind where I want/need to be. My company stopped their partial 401K matching after the financial crisis. I have put away just over six figures in that, but still need to focus on finishing paying off grad school (a very expensive mistake btw - if you do grad school, don't go private and on loans). Between that, stocks and my personal IRAs I probably have about 150K set aside.
I still have some catching up to do. Yes, at my age I know I need to get it in gear.
People - some of you are derailing the thread. If you want to measure your d###s or your real estate assets, go make another thread. That wasn't the question.
As for me, I'm behind where I want/need to be. My company stopped their partial 401K matching after the financial crisis. I have put away just over six figures in that, but still need to focus on finishing paying off grad school (a very expensive mistake btw - if you do grad school, don't go private and on loans). Between that, stocks and my personal IRAs I probably have about 150K set aside.
I still have some catching up to do. Yes, at my age I know I need to get it in gear.
I currently have:
$13K 401K
$3K IRA
$5K savings
$22K wife's 401K
Total - $43K
Currently seeing some very good Return on Home Depot stock; bought at $162 like a couple weeks ago, already about to crack $180. Both 401K and IRA are >20% year-to-date, feels good
I would save more aggressively, but have student loans and a car note that need to go quickly to free up cash for me to buy my first home in the next year or so.
**Georgia Crew**
**Mechanical Engineering Crew**
**2018 Aesthetics Crew**
01/02/2018 - 202.2 lb.
Current - 181.4 lb. (1/23/18)
11-30-2017, 01:23 PM
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#299
Not actively adding to my retirement account as I think either 1. It won't exist by the time I can access the funds or 2. The age to be able to access it will be raised so high I will die before accessing.
11-30-2017, 01:26 PM
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#300
- JoshSP1985
- Anti-Circumcision
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- JoshSP1985
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Age 32 64k which is a little above average for my peer group according to JP morgan, I also have an ESOP worth over 20 so when that's factored in very well compared to peers def top percentile. I'll be ramping up contributions a lot once kids get out of daycare that's another 16k a year liquid. Oh and Wife has like 24k in her 403B
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