Invest in real estate

Why shouldn't I pump 100% of my saving to byu as much land/house as possible and retire in 10 years in my early 40?

My city RE tax is negligible.

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you are buying boomer bags at ATH if you are buying real estate right now

nobody young enough to be posting on this board should consider spending a dime on RE until it crashes hard at least once, preferably twice and so badly your boomer relatives act like its the end of the world (it is, for them)

real estate was the boomer equivalent of crypto bull run, they think it is infinite and sustainable, and that there will always be greater fools

never thought about it that way, thanks for the tip

people say this on this board all the time, but no one ever explains.

someone please explain how we'll recognize the crash when it occurs, and explain which markets will actually be affected, because as i understand it, most markets will not be.

the house market crash and so do other markets but it is so rare. Population keep increasing but the land does not. How long can we wait, why not just ride the wave and keep a look on the bubble busting. Any tips on identify the early crash signal?

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Look up Harry Dent, don't forget to thank me later

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Go ahead. I would start with one house on a loan (30 year ofc) and work your way up a bit. Get into the groove of things instead of hitting the ground running. Remember that your property should be able to collect at least 1% of the total property's value in rent each month; so ten years of rents would pay off the entire house. If you get a property manager, they'll charge either 10% of rents or $100 a month. Insurance will cost, generally speaking, $35 for every 100k the home is worth.

So let's say you buy a 90k house on a 30 year loan at 4.5% interest. You'll be paying $456 a month on the mortgage; however, you'll be able to charge $900 in rent a month. Factor in insurance and management fees and your before tax income is about $309 a month. The average property tax rate is about 1% a year, so you're going to be down about three month's worth of profit. Your total cash income is going to be $2781 a year, for free! Keep in mind that you're gaining equity on the home too. You might be tempted to look over this because it's not cash, but it's still useful. You can use that equity in order to secure more loans to acquire more property.

Real-estate is the best way to get rich. The easiest too, short of inheritance or the lottery. It's best to start as early as possible because it takes some time to get the ball rolling. If you're in your early 20's then you should definitely wagecuck for a few years to sustain this.

Rent prices didn't go down as much as housing prices. In some instances they went up. You're also forgetting that you constantly acquire property, in good or bad markets. If you pay more in a good market it's not a big deal because you'll be using that equity to expand. If you pay less in a down market then you'll have a better loan. The cycle doesn't matter since you'll be sitting on the houses for at least a decade.

Checked. Just offloaded my RE bags to some gen x'rs. Going to rent for 6 or 7 years. Then but some pennies on the dollar shit from boomers who can no longer afford their mortgage.

sounds good, thank you

>Why shouldn't I pump 100% of my saving to byu as much land/house as possible
Because you should never pump 100% of your savings into *anything*.

Bought my first rental in 2015. It was decently cheap, but in the bad part of town. Put a lot of money into refurbishment to compensate for decades of no investments. Rented it to a nice middle-aged lady. Got fucked real hard. She turned out to be a lifelong grifter and fraud. By the one year anniversary she was already behind on her payments. 1.5 years after moving in she stopped paying at all. But you can't imagine the exuses she came up with - how her money got stolen, then her mother was on her deathbed and she couldn't work, then she had directed some government fund to pay-out her yearly bonus to me which never arrived of course, etc. I'm a skeptical man, but boy was she good. She actually strung me along for about 3 months, before I pulled the plug and went to court. Then the guilt-tripping started, how I could evict her and why we couldn't work things out. Then the cursing and yelling phase came. Finally silence as the eviction date approached.

Freshly refurbished appartment was a wreck. She did everything short of tearing out the copper powerlines to resell them. After the dust had settled I was down 8k and that's after accounting for 4 (!) months of deposit.

You can't imagine the amount of hours I put into this goddamn property in the first two years and all for a massive net loss. I worked through almost every mistake in the book, but learned a ton (and lost my faith in humanity in the progress).

I bought with 100% equity, so I could stomach it. If I would have had to pay a mortage while all of this was going on - I'm not sure whether I could have done it.

tl;dr: Your first property will be a nightmare with a steep learning curve. Never put all your eggs into one basket, because shit happens. Don't pick the best tenant of all applicants - find an objectively great tenant, even if it takes months.