When I got my first real career job, I was getting paid in the low $40,000's while working in Jersey City, NJ (pretty expensive). Luckily, for the first couple years I just lived at home with my parents. I got free rent, but I have a good relationship with them, I would cook dinner for them, get groceries, etc. I saved almost 100% of my income. Then I decided to move out, I got a walk-up apartment in a 100 year old building in Jersey City with a roommate I found on Craigslist. I paid $800/month and spent very little other money. I was putting over $1,000 into index funds every month. I got married a few years later and decided to buy my house in Florida. I had a little over $80,000 saved up and my wife had like $30,000. We put $88,000 down on our $440,000 house (exactly 20%). Now a little over a year later, we're back up to having like $70,000 saved in index funds/savings account, not including 401k accounts (combined another $70,000 or so). We don't make that much either- I'm currently at $74,000 and my wife is at $68,000. We're just VERY smart with our money. That's all you gotta do.

Bought 70k house, moved, rented it out for 16 years, sold it for 160k, only owed 40k, pocketed 100k before taxes
Bought another house for 188k, did a 80/10 dual loan combo, 10% down saved from work, bought cheap cars(5k) and focused on paying off mortgage, sold house for 300k
Bought another rental for 136k, had saved 20% down, sold for 159k 2 years later
Bought my 470k 4200 sq ft house, through savings, selling my rental and old primary house, have this one paid off
Benefited from the appreciation of Texas property
Time to buy more rentals, don’t think they will appreciate as much, but still build wealth

I also invested in 401k and ira during work and have built it up pretty well
Real estate is 60% of my net worth, stock/401k/ira is 40%

Pay $600 all in
live with a couple who both work as doctors so they are never home its GOAT

lets not have the whole rent vs mortgage debate

everyone has a different situation

$350/mo poverty dorm

630 for a small home in NC

Living very frugal atm. $300 covers my rent and utilities. $150/mo on food which I cook myself 90% of time. Bicycle 5 mi to work and back every day so I'm not using much gas besides weekend outings on the motorcycle. I could spend more to live in a nicer location and apartment but just don't see the need as a single dude. Day dere frugal upbringing

This is where you start you dumb fuk





inb4 you know more than billionaires

Renting?

LoL

you guys are getting slapped hard with the rent..
have you guys considered living in a van or a tiny house? i hear its a big thing in america. it would help save you a lot of money even if its for a short term thing.

This is why military + VA loan + follow-on government service or contracting overseas is the GOAT.

The Sydney property market is pretty similar, although has dropped a little in the past year or so.

A couple of things to consider.

If you are in finance, your income should jump significantly as you get more experience. If you are taking on a 10-15yr expense you should factor that in (I'm assuming that you would aim to have it paid off within 15 years - Americans won't understand as they can get fixed-rate 30-yr loans).

Do you really want to buy a small condo? Almost everyone who starts small eventually trades up, and the transaction costs are significant. Unless you think that capital values are going to increase significantly in the next 5 years (not the case in Sydney, probably not the case in Toronto), why not wait and see what your income and lifestyle look like at that point? What if you get the opportunity to live and work in another city? Would you really want a rental in Toronto sucking up a significant % of your disposable income?

$3850/mo for my mortgage. that includes property tax/home owners insurance.

cot dam.

kid in high school got thrown out with his dad , dad slept in tree fort

kid slept in the salv army clothes box, we would literally pull up in the morning and knock , not even getting out of car lol

aiden reynolds

$2,822 monthly mortage + utilities. Currently putting in about 100k in renovations as well (new solar panels, kitchen, master suite, flooring, central AC, radiant floor heating, etc.) so my equity should skyrocket, but overall, Long Island home prices are ridiculous right now.

Currently living at parents. Saving my money.

I'm honestly not looking forward to anything.

Rent? Throw away my hard earn cash.

Mortgage? As a single man, 250k gets me a ****ing piece of ****.

Like I dunno what to do man. I've been a hermit for the past 2 years and have close to 35k. Gonna aim for another 12 to 15k by next june.

But all that for what? Yep. A piece of ****. Anything decent looking starts at the 325k ish range. Would be dumping more than half my net monthly in mortgage, insurance, tax, yadda yadda. Like.. why just why...

Dosnt make myself motivated to do anything tbh knowing my fate.

Like 800 gyros pro monat over here brahs. Chit is cash I'm ballin' 72 square meters right in the inner city.

Mortgage is $1600 a month

Living at home and you saved only 35k in 2 years while living like a hermit...how much do you make mate? I had over 100k saved in 18months.

$200

2100 a month. Not including utilities.