Real Estate / Housing / Condo General

Hey guys, despite all the cryptofags and guys from PMG/SMG...i just see no more real estate threats anymore.
im approaching my 30th and thinkin about gettin my second condo. bought my first in my mid 20s and its lookin great so far. gettin 70€ so far every month and just got all my initial payments toward it in taxes this year. the one im targeting right now has the potential to be just about as profitable. not to mention the increasing price of the condo itself.

what does Zig Forums think about long term RE investments? what are your own experiences with it. US real estate seems to be plain aids if you dont wanna live in it urself. never looked too much into it but just a few hours of research and talk to a friend in north carolina...good grief is that obnoxious. what kind of shit u have to pay.

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i hereby claim this bread for /smg/

ZM DROPPING AGAIN PM

tell me faggot which city and how are the walls
im looking to buy a condo but im afraid they will file a noise complaint cuz i play guitar 7 hours a day, acoustic only tho
i dont want some faggit in the other condo to hear me sing and shit :((((

I bought a condo in jersey when I was manic and regret it forever.

I’d rather have a vending machine general

im german and as one might imagine i bought here as well...we dont have cardboard walls like you. we actually use things some might call bricks or stone for walls. so you could still get noise complaints but its a bit more rare to have them over here. and most of the people here have some kind of decency not to play their e-guitar 24/7 on full power to annoy the entire house with it. a normal one wouldnt even matter to most.

why the regret? financialy bad or just too much hassle for you?

>buy my own house
>still get my balls busted by faggots like I was sharing an apartment or something
ye fuck this

What kind of guns do you keep in your house

I got a 15-year mortgage, so taking a break between jobs is out of the question with how high the payments are. It just locks up a fuck ton of my net worth in a really illiquid asset. I also would have moved to a way lower COL area during lockdown if I weren’t tied to it. It’s better for me in the long run, but it’s like I locked myself into doing the right thing.

>70€ every month

wat

This is why you get a 30 and just pay extra. You fell for it

okay, i get that. a mortgage is a chain on your anke sometimes but w/e. u just said it urself: its the right thing to do. real estate might be illiquid as fuck but its always a save bet. doesnt matter what happens to the economy, politics, or whatnot...u still have an asset that always has its worth. a roof over your head (or someone elses head) is and always will be worth a portion of said persons money. i doubt it will change, unless we go full communist. and one thing cant be made out of thin air and that inner-city(ish) space for living.

Have to be considerate to your neighbours, its basic social etiquette. Otherwise keep saving until you can afford a detached house on half an acre of land.

I hope you mean 700?

nah 70€. mortgage about 350 and i get around 420 on my account. its a fucking condo not an entire house. its not like i invested a million on it...i bought it right after gettin my first job but it should be worth around 150k by now

Ok, still free money I guess

What is your own living situation then? Do you not have bills/rent to pay?

If your tenant needs a plumber or repairs you're instantly in the red for that month.

im living with my parents and i dont stack too many bills for myself. i pay them rent so much for that. and yes, if my condo needs an actual repair...like plumbers or electricity im red for that month. but i just had the condo made in 2016 before i bought it and the house is fine so no need for investments there since i got it and not to be expected in the next 5-10 years.

$70....
Srsly.

70€ and yes, every single month. doing nothing but watching it comin in for as long as the rent is at the current price. and as said. not to mention the about 10k i got back in taxes over 4 years now or the increase in the condo itself...which should be around another 10k. so i guess if you add that in were slightly above 70€

Jeez, you might get wrecked if appliances go out

u mean the ones that were bought in 2016. idk what kind of trash u guys buy but the ones in the kitches are gonna run for like 10-15 years at the minimum.

Does anyone know if I can choose how to allocate equity and depreciation in a 1031 exchange?
For example, can I change out my 3 rentals for 2 rentals and put all of the equity and depreciation on one property?
I'm trying to convert it to personal use to reduce recapture and capital gains but don't know the rules.

Don't know why they're giving you a hard time. Yes you'll be in the red if a pipe breaks or something but over time rents go up and your mortgage goes down.
Your profit is higher than 70 by the way because some of that mortgage payment goes straight to equity.
Landlording is high risk low reward when you buy, but low risk high reward 20 years later.

Which kind of city? West or East?
420€ rent after expenses is great for an

I live in an apartment and blast music all day.

I turn the volume on max on dank ass speakers and just play William Basinski's disintegration loops at ear melting volumes. No one has ever complained.

How did you pick tenants ? When I lived in Germany all my neighbors treated their rented flats horribly. The buildings were also brand new 2016-built but within a year they looked like gypsy commieblocks. This was near Stuttgart and these tenants were the lovely "new-Germans" or so it seemed.

I think the reason why RE is a bit less common is because it's no longer a poor man's investment. No investor has 400k to spend on that, especially not when sooner or later the economy will crash hard. Which isn't the main problem lest you wonder, the reason lies in the fact that literally no condo is worth its price atm.

Right now take a look at houses in Europe and then look at houses in Vietnam, Turkey, Saudia Arabia etc. These places have three times better and bigger houses for less. It's not worth it, 15 y/o 2 rooms condo isn't worth it's price right now. Right now stocks are very risky, and RE is looking even scarier for me.

my erect penis is enough, I don't need to compensate like you burgers do