>be 18 out of high school >wageslave in retail for 10 years saving every penny I made >be 28, make $9.50 when minimum is $7.25 ffeelsbadman, because of inflation I never really got a true raise >but anyway, managed to save 100k in thanks to my parents only making me pay for car insurance and cellphone, thanks mom and dad >oh well, decide to quit my job at the start of covid >family freaks out saying im lazy >lol fuck outta here, fuck retail during a pandemic >housing prices drop >buy a 3-bedroom house for 80k in cash >dump 5k into new furniture and appliances >rent out two bedrooms for $600 each >tenants cover all my bills >have to share the house with them which sucks, but whatever >friends who went to college and are now swimming in debt are yelling at me saying ill never be able to afford the taxes and upkeep >maybe they're right, maybe they jelly idk, but im glad i dont have studen loan debt kek >get a part-time job netting $200 a week >decide to rent out my master bedroom for $700 and sleep in the downstairs office >its just big enough for a full size bed, a tv, and a dresser >all my bills and taxes are covered, I'm putting money into my savings, I have equity, and on top of everything I only work 3 days a week friends and family think i've gone off the deep end "living with strangers" and "quitting my job" but I think I've made it considering I only have a high school diploma.
I think the worst I'm in for is the possibility of shitty tenants, did I make the right move? I'm sick of wageslaving tbh
That sounds sick as fuck user you made it in life. Wageslaving for the rest of your life just means you failed and everyone that says otherwise is either just jealous of you or genuinely retarded
Ryan Garcia
Nice dude
Cooper Russell
gj
Liam Davis
ty user. right now I'm growing my savings by $1500-$1700 a month
I'm sitting on $16,000. I want to get a new roof, remodel the kitchen, and perhaps get a bigger water heater. I'm thinking in two years all will be well with the house in terms of remodeling. I really don't want to, but i think I'm going to need to dump another 25k into the house over the next few years reeeee
Nicholas Collins
A house for 80K? What? You must live in the shittiest part of the US. That sounds fucking gross.
Also, keep in mind you're living in your own 80K house in a fucking office. lmao
yeah bro you've got it made
Blake Hill
lend money for bigger profits
Elijah Thomas
Very clever. Financially savvy. Unless Biden and Zira put a moratorium on collecting rent and Bernie and AOC take you for "re-education" for being a landlord. And by "re-education," I mean dumped in a long trough and dusted with lime. The dead only know one thing....
Now that you have assets, you're The Enemy. Welcome aboard.
Lucas Campbell
This is called househacking, it's based
Brayden Wood
You're doing better than most. I make 50, and with loans, etc, the most I can save is 500/month.
Owen Murphy
his bedroom can fit a full size bed and a dresser, seems worth it for an extra $700 a month. some people live minimally user
Jace Moore
Sounds like a series of smart decisions. Don't go and fuck it up by getting married.
Anthony Butler
now with you excess funds from renting out, invest. search catalogue for /smg/ invest in growth funds VUG and VOOG dollar cost average into those funds dont look at them until you are ready to retire. ???? profit
Benjamin Miller
yeah it fine by me. I put my bed on risers so I have more storage. same with the dresser. I also use the hallway closet for extra shit like wires, old tech, seasonal clothes etc its pretty comfy tbh, but I will go back to the master bedroom in the next few years. and maybe rent out the office im in now for $400-$500 something like that thanks user but how
op owns his own house in his 20's without debt, what the fuck do you do? you're probably cucked in a backbreaking trade job so you can pay off your $250,000 30 year mortgage kek
Adrian Turner
OP you are based af.
I hate wagecucking as well but if you worked and collected all this rent you would be comfier in 5 years. Just saying.
Make sure you have a 401k or something tho
Liam Edwards
25k that will be written off your taxes If you are doing them right so you still come out better than other fags. I applaud your decisions but I wouldn’t wanna live with other people
Isaiah Adams
if this is true....you are a genius. oldfag here... >only advice is treat your tenants with respect ( but dont become friends with them)...its a business agreement.
Kevin Johnson
Up your game bro. >take 50% of what you save, make an extra payment every 2 weeks. >Oh wait, the house is already paid off >You have 100% equity. >Get some insanely large credit cards. >Don't put anything but a stick of gum on them and pay it off every month. >Never carry debt, get that shit to 790 on your credit score. >Once you have another 20k saved up, buy a cheaper house. >Move into the cheaper house >You can now claim roommates as "rental income" >Afford you much larger lower interest loans >Sell off small house for more than you paid with simple improvements while you're living their >Buy larger house, rinse and repeat what you did to the first house. >Start or hire a "property management firm" >They'll take a cut, but now you don't have to worry yourself about "shitty tenets" or finding new ones. It's in their interest to get you high quality market rate tenets and roommates. >After a third house, you'll easily net 100k a year. You can keep working your job if you want, or basically get hired as a consultant with businesses that need to buy property, with this as your background.
Austin Thomas
>Then you can roll it up into hotels in Rio de Janeiro and take Carre Otis for a ride on your chopper. user saw Wild Orchid in the 90s and never got over it.
Wyatt Evans
Your reference is lost on me... I'm sorry.
Christopher Bailey
if it works power to you user. your family sounds like shit to be around
Aiden Harris
congratulations, you run a boarding house. if you were an old woman, and this was the 1930s, then you could say you're doing pretty well for yourself.
That's right, OP, rental income is only for old women. Also, user is a bitter, jelly faggot who wishes he had started doing that 10 years ago instead of pissing away all his surplus in the WoW cash store.
Austin Williams
yeah I definitely wish I had a bunch of random people living with me. That's the american dream really, work hard, get a nice home, share it with a bunch of annoying retards. Da good life!
Ryan Cox
Congrats now you’re a landlord. You get the guillotine when the time comes.
Ayden Miller
OP's in his 20s. He's building his base, cutting corners, making sacrifices. I know you've been told you deserve to have it all handed to you and now, for free, and anything withheld from you is a consequence of racism and the oppression of late-stage capitalism. The reality is OP is a builder and a net contributor to his community and you're a leech.
Luke Powell
literally what the fuck are you even talking about. most people just work a full time job and then use the money they earn to buy a home. there's nothing noble or impressive about setting your life up so you can work part time and live off of the rental income from your housemates. It's just fucking lazy.
Julian Williams
the whole point in working is to provide shelter and sustainability. OP has that without grinding away 40+ hours a week, good on him. the goal of individual should be to live comfortably, not just be another cog in the system for 2/3rds of their life. contrary to what you may believe life isn't just about working 40 hours a week
Your calvinist attitude is going to make me puke. Buying a house for yourself is well and good. Profiting on the poor is not. 5/10 OP, would not imitate but you do you. You're certainly more organized than most americans in there.
Adrian Gray
He's learning to draw income from assets. That's leverageable. You're learning how to trade 40 hours a week for a salary. May be leverageable, if you're continuously learning new skills, but ultimately, 40, 50, 70 hours a week, there's a cap to how many of those you can personally trade for cash. OP decides he wants to get a second or third house, apartment building.... He can run that up pretty far, if that's the way he plays it.
I get the feeling you're more about taking offense and licking your wounds than watching and learning. Stick with that full time job thing and cultivate your bitterness. That may be your forte.
Austin Thompson
how is he profiting off the poor? he charges $600 for access to a whole house, and doesn't even charge utilities. where the fuck else are you going to find that other than your moms basement? any minimum wager could afford ops setup, and in 2020 thats fucking incredible
Julian King
>most people just work a full time job and then use the money they earn to buy a home No, most people work a full time job then use that and their credit history to finance a house, which they then take 30 years to pay off. They throw away a ton of money on interest in that time. >there's nothing noble or impressive about setting your life up so you can work part time and live off of the rental income from your housemates. It's just fucking lazy. No, it's fucking smart. OP has exercised discipline and made sacrifices, and as a result he has more of what's most precious, which is free time.
Jayden White
Mortgage it to buy a cheap Mortgagee sale rn. Soon you will be doubling your real estate profile. Get Rental Management, Move a portion of your cash flow into other invest ment sectors. Do not listen to others - they are crazy Normies who will bring you down, & do not tell them how well younare doing. Don't fuck it all up with Oneitis, Never Cohabitate, tell her your home address, or even give her your reak surname (she'll put it on Chad babies birth certificate & screw you financially for 2 decades!).
