How do i turn 150k into 5 million?

how do i turn 150k into 5 million?

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covered options and a fuckload of luck

Hard work

how

bump

$150k would be enough to buy three $200,000 houses @ 20% down, the $30,000 left over would cover closing costs/other fees and covering the mortgage payments until they are rented out

mortgage/insurance/taxes/interest on a $200,000 house is $900/month, round up to $1,000 to cover repairs (overkill)

a $200,000 easily house rents for $1,700 a month (and thats on the low end)

so you're looking at $2,100 a month in passive income NOT including the equity the tenants are building you. that's $25,200 a year, but lets round down to $20,000 a year to cover the months the houses may not be rented out (overkill)

every two years, you could buy a new house with 20% down.

if you start at 30 with 3 homes, and buy a new home every time you are able to put down 20% and rent it out following the 1% rule, by the time you are 60 you will have ~30 houses, $6,000,000 in equity, $145,000 in MONTHLY cash flow, assuming housing continues to rise 3% a year as it historically has.

um, how is 150k enough to get three 200k houses?

are you American?

the housing market is on a cliff lmao

Yes, if you just had 150k no bank is doling out loans to you for 3 houses

we're in a seller's market you absolute moron

let me ask you a simple question to gage your knowledge on this before I start "doling" out some truthbombs

are you aware banks consider rental property income?

No, I was not. And please drop some truth bombs on me. I find this super interesting.

oi come back

are you aware of how much headache comes with renting three houses to people at the same time? that is a fulltime job

They're not vacation houses where you have to advertise, talk to them, ask their ID, DRIVE ALL THE WAY to each house to make sure they didn't break anything and then clean the place EVERY SINGLE 2-3 DAYS.

>we're in a seller's market

Are you the same moron who was approved to get a mortgage, if you only knew the things I have seen, every shack merchant will tell you what you want to hear but numbers speak louder.

Even fucking apartments are struggling to get idiots to rent none the less something that needs 10 to 30 percent down.
Sellers market my ass, my town looks like a cemetery with for sale grave stones on every corner, no one is buying and i mean no one and this is just the beginning, next month the homeless are going to start breaking and vandalazin making your plywood box and neighborhood even less attractive and profitable

lmao are you high thinking a house worth 200k rents at 1700 at the low end?

>DRIVE ALL THE WAY to each house to make sure they didn't break anything and then clean the place EVERY SINGLE 2-3 DAYS.
>clean the place EVERY SINGLE 2-3 DAYS.


wtf

I rent out two houses right now, and have been for the last 3 years. Both 2 bedrooms, one to some college kids, another to a family. The houses are on the other side of the US, and I talk to them maybe once every 4-5 months or so. Biggest issue I;ve had was the family left the trashcans out too often and the neighbors complained. Few times I've visited either of them they were both fine. I barely do anything desu.

they do in my midwest suburb.

>that is a fulltime job
being a landlord isn't a job

That's what you have to do for short term rentals or tvus. Airbnb type stuff. It isn't worth the effort to try and enterprise with Airbnb unless you are operating in an area that gets constant expensive tourist traffic like Hawaii, and even then you can get fucked by local laws, such as in Hawaii where after accepting a generous donation from Marriott, the government banned non-hotel short term rentals and tvus. For the most part only Airbnb a house you already own to get a few extra dollars. For the most part its not worth.

>every two years, you could buy a new house with 20% down.

>every two years, you could buy a new house with 20% down.

>every two years, you could buy a new house with 20% down.

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KLEROS

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They do here in the non-california southwest for 1,500 low-end.

>that is a fulltime job
Lmao, wtf are you smoking?

There's nothing else to say, you twit. You go to the bank with a business proposal for a rental property, get the loan, buy the house, rent it out and then go back to the bank with another proposal...

Jesus no wonder everyone is so fucking poor.

are you retarded? why would you not use a property manager...
about twice a year some nitwit will fuck with the neighbors or try to fuck you on rent using some legal loophole and you'll have to get involved for some period usually < 1 week.
wow you fucks are totally useless, the second someone stops solving things for you, you see the next problem and go 'wait this one is insurmountable' despite all the steps you took to get to that point

... for the whole house? you're so dumb. this isn't an apartment, its a fucking house with multiple bedrooms. yes, you can get 1700 total on a 200k house with multiple bedrooms

like what the actual fuck you guys, do you not have google, why is this thread in particular so completely retarded

5/1.5 = 33
You just need a 3x, 3x, 3x and 1.25x

Seems easy enough

Go all in on Xrp bro.

all in aapl?