Getting rich via property is such a fucking meme

[ScientificLooksmax]

It's just a niche for make money online gurus to sell you nonsense courses in

And it sounds good "I own 3 houses" sounds like you actually own them.

But you fucking don't lol. You have a mrotgage on them. The bank owns them. and you dont even live in them. So no you don't fucking own them lol.

I ran all the numbers, it doesn't fucking work.

Ok you get a mortgage on a house.

You rent it out for slightly more than your monthly mortgage payments (if ur very lucky)

So you're getting lets say $1000 equity into the house, and $100 in immediate profit per month

But except, you're not getting $1000 equity into the house

Because the banks arent fucking stupid and know what you're trying to do

Hence they they created ammortization , which is basically , you pay most interest at the start, then lower interest at the end

So for the first 10 years of your mortgage you're basically paying purely interest, making money for the bank, getting $0 equity

Then okay for the last 15 years you may get a little equity

But by then you're going to be like 40 years old and $600 equity per month into a house at 40 years old is 1. useless cos its in a house, and 2. you're too old 3. is like the lowest ROI and slowest investment ever



The only real way to get rich is to learn a high value skill, create a business in it, then automate and scale it with employees

 

[Fahris_2006]

 

[User28823]

sorry bud the ship to buy houses to rent them out has left the dock years ago

2% interest rates is what the boomers got, we are jewed with 7%

 

[trashbinxoxo]

I bought a property in Egypt

 

[ScientificLooksmax]

I bought a property in Egypt

worthless lol

 

[Insufferable]

worthless lol

and what they do is first give you the property

 

[ScientificLooksmax]

and what they do is first give you the property

what u mean

 

[genetically fucked]

dnr, just live in ur car

 

[genetically fucked]

what u mean

hes quoting

 

[looks>books]

keep believing this

 

[MoggerGaston]

most banks dont allow you to rent out properties you have a mortgage on.

 

[Foreverbrad]

most banks dont allow you to rent out properties you have a mortgage on.

Or at the very least the rates are higher due to “risk”.

I’ve looked into it extensively and it’s never worth it vs just buying stocks.

 

[Gonthar]

Just buy land and rent it to farmers to grow crops...

 

[ducksoover]

It's just a niche for make money online gurus to sell you nonsense courses in

And it sounds good "I own 3 houses" sounds like you actually own them.

But you fucking don't lol. You have a mrotgage on them. The bank owns them. and you dont even live in them. So no you don't fucking own them lol.

I ran all the numbers, it doesn't fucking work.

Ok you get a mortgage on a house.

You rent it out for slightly more than your monthly mortgage payments (if ur very lucky)

So you're getting lets say $1000 equity into the house, and $100 in immediate profit per month

But except, you're not getting $1000 equity into the house

Because the banks arent fucking stupid and know what you're trying to do

Hence they they created ammortization , which is basically , you pay most interest at the start, then lower interest at the end

So for the first 10 years of your mortgage you're basically paying purely interest, making money for the bank, getting $0 equity

Then okay for the last 15 years you may get a little equity

But by then you're going to be like 40 years old and $600 equity per month into a house at 40 years old is 1. useless cos its in a house, and 2. you're too old 3. is like the lowest ROI and slowest investment ever



The only real way to get rich is to learn a high value skill, create a business in it, then automate and scale it with employees

wow this might be the lowest IQ post I've seen so far.

You literally just made up numbers. Who on earth is getting $100 profit per month on renting out properties?

I know a handful of guys irl who make good rental income.

this forum is done

 

[maxximus]

depends place to place tbh

my old man finds really old houses, buys them, renovates them completely, adds some gimmicks, usually just shit like heated pools in the basement or a movie theatre, cool interiors, bridges, waterfalls, etc etc

he added an elevator in his last one

he currently has a deal going with some ultra rich dude where my dad does everything, sells it to him, and he does god knows what with them but it works

he makes bank, pretty cool tbh

 

[ScientificLooksmax]

wow this might be the lowest IQ post I've seen so far.

You literally just made up numbers. Who on earth is getting $100 profit per month on renting out properties?

I know a handful of guys irl who make good rental income.

this forum is done

depends place to place tbh

my old man finds really old houses, buys them, renovates them completely, adds some gimmicks, usually just shit like heated pools in the basement or a movie theatre, cool interiors, bridges, waterfalls, etc etc

he added an elevator in his last one

he currently has a deal going with some ultra rich dude where my dad does everything, sells it to him, and he does god knows what with them but it works

he makes bank, pretty cool tbh

Completely different thing but ye

 

[autistic_tendencies]

Why do all the elite and rich invest in real estate then ?

 

[ScientificLooksmax]

Why do all the elite and rich invest in real estate then ?

Cos it's what they buy after they already made money. Its not used ti make money

 

[autistic_tendencies]

Cos it's what they buy after they already made money. Its not used ti make money

How so
In the past the land owners made the bank

 

[Gonthar]

 

[ScientificLooksmax]

How so
In the past the land owners made the bank

Yeah cos they were already rich enough to buy the land. They didn't make their money from the land first

 

[6.5x5cel]

It's just a niche for make money online gurus to sell you nonsense courses in

And it sounds good "I own 3 houses" sounds like you actually own them.

But you fucking don't lol. You have a mrotgage on them. The bank owns them. and you dont even live in them. So no you don't fucking own them lol.

I ran all the numbers, it doesn't fucking work.

Ok you get a mortgage on a house.

You rent it out for slightly more than your monthly mortgage payments (if ur very lucky)

So you're getting lets say $1000 equity into the house, and $100 in immediate profit per month

But except, you're not getting $1000 equity into the house

Because the banks arent fucking stupid and know what you're trying to do

Hence they they created ammortization , which is basically , you pay most interest at the start, then lower interest at the end

So for the first 10 years of your mortgage you're basically paying purely interest, making money for the bank, getting $0 equity

Then okay for the last 15 years you may get a little equity

But by then you're going to be like 40 years old and $600 equity per month into a house at 40 years old is 1. useless cos its in a house, and 2. you're too old 3. is like the lowest ROI and slowest investment ever



The only real way to get rich is to learn a high value skill, create a business in it, then automate and scale it with employees

Jfl I remember my uncle gave me this advice a month ago and he told me “I wish someone gave me this advice at your age”

But I knew it was BS and slow af

And even with starting businesses, what are the chances you’re gonna get to the point where you hit 10k+/m profit after tax without working 10h days within a reasonable timeframe (before 35yo)?

Even with most successful biz owners they don’t get to the point where they start making mid-high 6 figs w 4h work weeks until they’re wrinkly dinosaurs and atp it doesn’t even matter much anymore

 

[Gus17]

If your making 100 dollar profit your doing something wrong and no amoterzation doesn’t matter since you still are building equity you just pay a higher rate for the first few years.

 

[Gus17]

The real method is to buy cheap houses that need renovation, renovate them with new amenities and flip them for higher by selling them.

 

[Gus17]

Renting is slow and not scalable but it can be profitable. It’s just worse than stocks in terms of ROI overtime. As stocks are 10% profit per year.