Give it some more time. All homes are constructed to break down because that is where the money flows from. Just because you haven't noticed a problem doesn't mean there is a problem.

My house burnt down. I ended up with a paid off house, all new **** and a brand new house.

Insurance ftw.

Also got like 800 in Amazon gift cards from staying at a hotel for 9 months.

Property is one of the best investments you can make. Srs. They're not making anymore land OP.

..... Like what? Replacing a roof every 20 years? Maybe a toilet replacement or a quick sink fix. That's not going to offset payments coming in from tenants.

Did you miss a zero, or do you live near Ashin?

OP's parents are only charging him $600/mo for rent. That doesn't seem to be too bad for him I guess. At least he can help his parents out as they help him too.

Good for you OP!

lol well like i said houses in that range are a little rough. You have mexicans, blacks, whites, asians living in these areas. But you have to know how to gauge the danger level because even within these neighborhoods, theres low crime and high crime areas. But crime has fallen a lot over the years.

lmfao @ rentcels

The way roofings are done nowadays... I'd say that 20 year reckon is now somewhere between 5-10 years and that's if you are in a state of consistency with the weather.

Majority of toilet issues are plumbing problems that are earth problems (drainage).

A quick sink fix? Not with them soft hands.

Having an income producing asset is always better than renting. I own few homes, I just make sure the rent I am getting covers everything in the op youre scared of. Having an asset is always a positive unless you are scared bud

Fkn LOL 5-10 years on current roof tech. You're fkn delusional.

Majority of people who handle that roof tech aren't ready for it. It's like giving steroids to a natty that couldn't build his own muscle. Tradies in it for the skill and satisfaction of building are becoming obsolete. Give me an og laborer with what worked and keep the idiot with the latest and greatest materials away.

Interesting, where I'm from ALL the roofers are russians or ukranians. Rarely any mexicans.

depends on the markets and ur needs imo

Oh we have everybody but white men doing it now. Perhaps there are more white women roofers than white men. it's possible but don't quote me on that just yet.

Took me like 30 mins to take out a strainer body and all the components with the down pipe, Hand saw new copper down pipe to size, and put it all back new. First time ever. I'm a carpenter BTW. Your girl loves my hands and that's not all.

Oh this thread again.

I broke this down before and got negged, but here I go again just to break down the real numbers:

500k house at 10% down with 3.49% interest for 25 years costs 350k in interest over the life of the mortgage. So that's 850k. Factor in at least one major (10k ie furnace, roof, water in basement) repair every 5 years and that's another 50k and property taxes at 500 a month will cost you another 150k. So now that 500k house over its' lifetime has cost you over a million.

Ah, but wait, I'll sell it and make bank! Okay, so in 5 years I sell it for 600k. Bye bye down payment of 50k. Property taxes and repairs and interest still cost likely over 100k. So that "profit" is gone. Oh, and my real estate agent will take 5% for doing showings and paperwork just because that's the way it's done.

Oh, but I'm making an investment and have equity. Yes! But if the market goes down, it's a depreciating asset and you can get ****ed easily depending on the market. Plus, people think they have massive amounts of equity after 5 years and in reality a bank might give you 50-75k extra.

Buying a house is only good if a) you are in a good market for it, can fix up a craphole yourself and don't mind waiting b) you need to be stable ie have kids that need to go to schools in that area or c)you can rent out rooms, AirBnB etc to have others pay your mortgage. Otherwise it is not a great financial investment.

This was explained to me by a financial advisor friend I have and my mind was blown.

That's why you buy land in a rural area, build the house yourself and make 100k right away. BTW, property value in my area has literally gone up 60-80% in 5 years. No exaggeration.

OP, you'd have some points if at the end of the day the home owner didn't have a valuable asset that appreciated while you have absolutely nothing. If this isn't a troll, I hate you inform you of your retardation.

Inflation on house value only happens if you're in a good market. At least at a pace that can outdo the 6-8% return you will get from a decent index fund annually.

^ This although all assets tend to do well or do badly in any given period (there is positive correlation)

If you want to judge the benefit of housing after adjusting for maintenance costs and the benefit of actually living in the thing, the fairest way is to use an ETF (exchange traded fund) that tracks the housing market.

For example, go to google finance, enter "REZ" and do a comparison with SPX (S&P 500 index). The US stock market outperforms it by about double between 2007 - present (even including the financial crash in 07)

Aren’t you the guy that goes to parties and steals chit?

Just lmao @rentcels not having the feeling to call yourself at home.
Just lmao @ not having a courtyard to play with the kids.
And lmao @ giving money to the boomers for life.


Your arguments can work ONLY if you use the portion of the money you save from renting to invest aggressively. Majority of miscers don't save money or leave it in a saving account with .015% interests.

I knew this thread would be INFESTED with 30 yr old boomers but I clicked anyway.

brb government owns your property you never truly own anything
brb living in the middle of BFE for the same price I can live in the middle of the city
brb no maintenace costs dont have to buy a new roof every 10 years
brb can up and leave whenever TF I want
brb make more in investments every year with the down payment equivalent you put up than any "equity"

Boomercels on suicide watch cause they have been brainwashed by banks to own a piece of chit house in the suburbs.

Why are you skipping the part where you can sublet out and live rent free? Or own multiple investment properties and earn rental income from credit strapped millennials that can barely afford toilet paper let alone "aggresive investments" lmao!

LoLWut?

Strong cope

OP thinks you need to buy a new roof every year

Landlords are clearly in the business to lose money, glad you figured that out so young you vampire skinned *******.

It's ok op, i use to have the same mentality when i was 27. Now 40 and wish i would've bought sooner. Also bought in a steaming hot market in Orlando. Might cash out big time in 10 years. Who knows i'll wait and see