Bought three rentals in the past 13 months

Aiden Young
Aiden Young

bought three rentals in the past 13 months
1 duplex ($67k)
1 house I am closing on in 2 weeks ($25k)
only have one apartment of the duplex rented
bottom floor still needs renovation (about $5k)
house I just bought needs renovation (about $7k)

Why are people still renting in 2018? It seems so fucking insane, that even these low priced houses I can rent for more than a mortgage on them would cost. Is renting the closest thing to passive income you can get?

inb4 upkeep/bad renters/taxes

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Liam Robinson
Liam Robinson

A Chinese man accused of being a ‘landlord’ facing a People’s Tribunal just before being executed, Guangdong, China, July 1952

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Elijah Rogers
Elijah Rogers

Where the fuck do you live?

Christopher Powell
Christopher Powell

Cousinfuckville, Kentucky

Austin Hill
Austin Hill

Makes sense, those prices are so fucking cheap

Samuel Green
Samuel Green

this is your brain on communism

Sebastian Myers
Sebastian Myers

Jokes on them, they all starved to death over the next few years.

Easton Harris
Easton Harris

Why are people still renting in 2018?
Why don’t the poor just like stop being poor?

Nolan Bennett
Nolan Bennett

Eastern or Western?

Why doesn't everyone wealthy buy little huts in the mountains for cash and then have hillbilly property managers take care of them for them...

Jordan Jones
Jordan Jones

Upkeep, bad renters and taxes.

Gabriel Wood
Gabriel Wood

Yea but heres the thing, my total income is just shy of 100k a year and I live like a fucking king thanks to the fact the area is so poor. I own 300 acres, go on 3 international vacations a year and my wife doesnt work lol.

Taxes are fairly low in my area, not to mention since I am already self employed I have ample opportunity to get tax breaks.

Elijah Jenkins
Elijah Jenkins

I'm considering slumlord meme.
But in my area no one is selling.
Closest properties are 100km away.
Return is 6-13%, 6 being the median, higher return is in bumfucknowhere area where people probably won't even live in the next 30 years.
This seems to be meme like dropshipping.

Alexander Parker
Alexander Parker

I own 4 condos.
$8k/ month rentz.
Neet 4lyf

Lincoln Butler
Lincoln Butler

why are people renting?
lives in kentucky

This is your answer. I would fucking kill myself if I didn't live in a fun city with plenty of things to do. What's the point of living in a nowhere town? Nothing changes and you do the same shit every day. No good food or events. Fewer job opportunities. People who share my sentiments live in cities, but that duplex you bought for 67k costs well over 400-800k there (depending on your city). I actually do own my house in my city (Portland), but I would much rather rent in Portland than buy in kentucky, or texas, or mississippi, or whatever.

Owen Morgan
Owen Morgan

Where are you? I am in Rural NC and the duplex is located in a small town with a population of ~2k and the house is in a town with a population of ~1.5k. Both are within 15 minutes of my house. Unless you live in a huge city, I feel like its doable for almost anyone.

Noah Ortiz
Noah Ortiz

shooting guns
pissing off the front porch
have farm animals
go hiking on personal land
ATV's for days
bonfires for days
hunting

Oh yea I am sorry, your boutique coffve shop and junkies sounds so much better.

Jose Adams
Jose Adams

Central europe.
3 flats, 1.4k /month, cost 180k, city of 240k
4 flats, 0.7 k/month, cost 80k, city of 20k

whereas the "jew" in my area asks 530k in the town of 30k pop, and none of the 5 flats are even rented out, he claims 6% ROI p.a.

Hunter Nguyen
Hunter Nguyen

Vacancies user. My landlord’s condo had been sitting on the market for 2 months before I started renting it. I just let the lease expire and moved back in with parents. Now it’s been vacant for the past month. There are no guarantees you’ll be able to rent it out, or rent it for prices that cover your mortgage.

Julian Sanders
Julian Sanders

In the small town my duplex is in I see the same thing, one man owns about 40% of the office/business space downtown and not a single one of his places are rented because hes asking almost double what it should be.

Austin Bennett
Austin Bennett

We just have different interests man, none of your hobbies sound like fun to me. In portland I:

attend swap meets with gaming homies
go to cooking classes hosted by extremely talented chefs
conventions for tea, able to taste extremely rare varieties (tea is a big hobby of mine)
great hiking in densely wooded areas minutes from city center
try a new restaurant with the gf every weekend, all memorable
great public transit
great beer
nonstop concerts from bands I actually like
local communities for every hobby under the sun, going to a gundam building event this weekend

We're into different stuff I guess. Personally farm animals just seem like a huge burden, guns are neat but I don't understand the hobby appeal (only the self defense appeal), and I'd rather hang out at a smokey dive downtown playing pool than at a bonfire.

Sebastian Adams
Sebastian Adams

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Carson Jones
Carson Jones

based chinamen

Jayden Sanders
Jayden Sanders

wtf only hiking is okay, otherwise pure onions

Dominic Hall
Dominic Hall

lel if we hung out we might get along. We both browse Jow Forums at least, but you've got to stop assuming shit about someone's character just because they don't subscribe to the same list of interests as you.

Jordan Thompson
Jordan Thompson

Portland
basically san francisco lite. literally half of the people there are NPCs who outwardly display "muh feminism" and "orange man bad" complexes. do your other hobbies include getting cucked faggot?

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Adam Evans
Adam Evans

I ws in a position to buy a house last year, but me figures we're at the top of the market cycle and housing prices are inflated as fuck.

I'm banking on people like you holding bitcoin style bags in a year or two. hope you paid cash for your house because if you mortgaged them you'll be underwater and paying 3x the market rate.

Aiden Scott
Aiden Scott

lel if we hung out we might get along. We both browse Jow Forums at least
no that's where the common interests die. you willingly live in Portland. enough said.

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Joseph Evans
Joseph Evans

How did I know OP was from Kentucky? It was just a guess lmao

Joseph Thomas
Joseph Thomas

im in NC.

Jordan Hughes
Jordan Hughes

Yeah Ha ha... the joke... is.. on.. them.
Hummmmmmmm.............
China looks like a more powerful 1950's USA at the moment.

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Carter Roberts
Carter Roberts

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Zachary Scott
Zachary Scott

5 times the population
barely beating the US

Man china seems like a utopia.

Nicholas Lopez
Nicholas Lopez

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Jace Clark
Jace Clark

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Evan Collins
Evan Collins

I am with this guy. I make 200k a year, live in a small shit town. Nice 3 bedroom in a nice neighborhood is 125k. I still dont buy because shit is gonna dump hard soon. If you do have a mortgage I hope you were smart enough to get a fixed rate on it.

Michael Morgan
Michael Morgan

I will unironically hang out with you in my city and we'll have fun man. Have you ever been here?

Daniel Cruz
Daniel Cruz

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Joseph Murphy
Joseph Murphy

you can also come visit me, and I'll change your mind. I'm being serious dude, you need to leave your bubble and actually talk to the people you only think you know. Why are you letting people on the internet think for you? Go out and learn for yourself.

Sebastian Carter
Sebastian Carter

you both sound incredibly boring people, but at least he's more of a man than you
seriously dude what the fuck, half of your "hobbies" are about eating or drinking something and ALL of your hobbies are about consuming. i'd go mental if i had to live a month in your shoes, and i'm a city dweller

Cameron Wilson
Cameron Wilson

7k - 67k

here that is literally the price range of small rooms purpose built for shitting in.

Camden Brown
Camden Brown

Eat so you can learn about the people and places the food comes from. Food=culture. Tea=history. They're all ways to learn something.

And what is a man? At the very least a man should decide who and what he wants to be, and it's his decision. The basedboy meme just lets others think for you, do you ask the internet if it's ok to like something before you take part?

Dylan Myers
Dylan Myers

I saw it coming with the NPCs I worked with. A new manager transferred in 2016. Bought a house for $100K. He was bragging that he sold it a year later for $200k. No fundamentals had changed. No new hospitals were built, no roads added, no new shopping centers were built. Another guy dumped his house and upgraded and pocket a years salary on the deal. There's no fundamental reason his house went up in value, it's pure speculative bullshit brought on by QE. Fucking house flipping ads on the radio, everybody is dumping bags and buying bigger ones. I saw it live in 2007 and this looks exactly the same.

Andrew Williams
Andrew Williams

flipping =/= renting

Leo Butler
Leo Butler

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Grayson Kelly
Grayson Kelly

Dude you sound like a normie. Please tell me you own 0 crypto. If people like you are still here. That means we have a lot more low to go.

Gabriel Torres
Gabriel Torres

why upkeep when i can keep renting and moving around?

fuck planting roots and fuck a mortgage

Nolan Diaz
Nolan Diaz

This has to be b8

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