I’m a 22 year old Amerifag who just finished undergrad. Through a few scholarships, a part-time job, and some pretty nice crypto trades I’ve accumulated about $25k to my name (10k liquid, 10k crypto, 5k stocks). I’m going to law school in the fall and would love to have passive income and a good investment for the future. Since I’m going to be spending 99% of my time working/studying, I’m planning on leaving the trading sphere for a while.
Is getting into real estate a smart idea for someone in my position? I don’t know much about it but I’m willing to do some serious research and make a down payment if you fags shill me on why it’s a good call. I’m obviously not expecting anything remotely nice for $25k at all, but if I can get a downpayment going and rent out the property for the price of the mortgage with a lil extra on the side, it seems like a good nest egg to have for after law school. I got a full ride for law school so I’m not worried about financing that - just want to make some smart if risky decisions while I’m young and have a few things going for me. I’d be willing to move all my assets to real estate if this seems in any way tenable.
Thanks for reading my blogpost, but I figured some olderfags may be able to give a lil advice.
the housing market in the US is almost ready to crash again. >home prices are soaring which means the homes are not assets, they are debt
wait for the crash to happen and buy the bottom.
James Lee
I bought two houses by the time I was ~20. I shouldnt have because it was right before the 08 crash. My suggestion is >dont do real estate unless you really want it as a job managing everything or you have a lot of cash $1m+ >if you do buy, put the lowest amount as down payment as possible, dont fall for the 20% to avoid PMI scam >if you manage the property yourself, enjoy standing in line at the court to evict tenants
Brody James
>going to Jewish indoctrination camps instead of just buying crypto 2+ years ago
How’s that working out for you smart guy
Jaxson Hall
Pretty comfy ngl, going to a prestigious school with a great career ahead of me, a 10/10 gf and more assets than most my age (minus the trust fund babies). How’s the neet/incel life treating ya?
Luis Watson
what school you going to? and what u get your undergrad in?
Logan Young
looking to stop being a wagie
Elijah Cooper
literally just throw your cash into some REIs
the market's not going to crash. the paradigm has changed. It's now a tale of two markets, and the slumlord companies like Invitation Homes and Colony Capital are going to buy up anything they can that passes for work force housing. The other market are luxury houses, with wetbars, walk-in closets, etc. That market will soon crash. Good luck, figuring out how to short them.
Robert Howard
you're fucking radical dude wow boss status XD
Ayden Torres
real estate market willl fucking die when the boomers die off
Blake Ward
idk why people are always asking about real estate. its great if you know what you are doing and are willing to put in the work if required. if you watch a couple of hdtv shows and decide to start flipping houses you will lose your ass next to the people that do it professionally. rentals are great if you make good buys and get good tenants. there are lots and lots of millionaires who made money in real estate and there are also lots of people who lose money. Ive had a couple of rentals for a few years but have recently sold just about all of them because i think real estate will decline in the next couple of years. Then I will rebuy
Possibly getting into landlording soon and want to know more.
Bentley Parker
It may be difficult depending on where you are, but I personally wouldn't buy property now. Especially in any metropolitan area. If you want to work in RE, go into appraising! Sure, it's cyclical, but if someone's looking to buy, sell, refinance, etc. they need someone to do an appraisal on the property. Your standard residential appraisal is $400 a pop and if you get into commercial appraisal, that's around $2,500 per. It's a bitch to gain the experience and navigate through state licensing, but if you can do that and have a strong work ethic, you can make absolute bank. Plus post financial market collapse in '07, states have made it real difficult to get a license and add in the fact that the average age of a fee appraiser is in their late 50s, it's a prime time to get in if you're young. My coworker does it part time and makes 6 figures.
t.someome who's about to get their appraisal certification
Caleb Jones
>being so retarded when someone says real estate they think residential Commercial real estate is the path to wealth.
My family owns 20,000 apartment units.
Read the book “10 things every real estate investor should know” and take a financial excel class online to learn basic CRE calculations.
Austin Allen
OP here - I was thinking apartment units. Is that even possible with my current finances/spot in life? I’m willing to take risks bc I’ll have a career to fall back on but I don’t wanna be an idiot and miss my chance to make an investment that could be helpful to me in a few years.
Leo Foster
I wouldn't go to law school even with a full ride. You're signing yourself up for a life of corporate drudgery.
Isaac Nguyen
Literally just put your money into crypto. Real estate gains won't beat crypto gains. Almost nothing will.
I own two rental properties and a condo I live in. Feel free to ask me anything. Start slow if you're unsure. Put all your money into buying a condo or single family house in a "cool" part of town...or at least a semi-desirable place with good school districts. Live there for a year or so then rent it out.
You should have more money. Repeat this.
In 10 years you'll have 5-8 properties each earning you $300-$400 a month. Hire a property management company and that's like $3,200 a month passive income and taking it is and not even being super aggressive. There's a retirement plan. IRAs and index funds are for suckers
also, the housing market ain't going to crash. It's the ultimate fud
Noah Perry
>law school Brain washed normie detected Who sector of pirating are you looking at Oppie?
Mason Richardson
Home appraiser here myself. what city are you in? I might be able to get you work. seriously. Are you certified or just licensed?
Anthony Torres
>Buy to let
Literally the cancer killing the housing market. Unironically kys if you seriously consider soing this
Brayden Lee
T14 Law school. Undergrad was politics and economics
Looking primarily at complex litigation at the appellate level and corporate trial work (though I have an interest in international regulatory law and could see myself going for that, time will tell). Wah wah yeah it’s hard work but I like it and it’ll be satisfying to me
Definitely want to start slow. I’d love to get a unit in an up and coming part of town. If I don’t live in the unit myself and just immediately start renting/airbnbing can I still make a profit on the monthly mortgage? Not looking for much at all here (primarily interested in future dividends, would like to have a few properties by 30), but obviously can’t afford to bleed money on top of the downpayment what with being a student and all.
Idk if anyone’s close but I’d primarily want to look at properties in Philly and DC as I tend to go back and forth between the two often enough.
Justin Torres
Most mortgage companies make you live in a property at least one year before you can rent it out. Sure, you can do it behind their back but that could get you in legal trouble. Basically, they'll give you a lower interest rate if it's your residence. If you're intent is to rent it out from the beginning the bank is basically give you a business loan.
Don't wait too long. buy as soon as you are able. This is real advice. you'll be glad you did. Housing crisis shit is all FUD. Anyone who held through it in 2008 is up over 50 percent now
James Long
house are proxies for interest rates >interest rates fall, everyone can afford mortgages >interest rates rise, nobody can afford mortgages the moment you want to buy is just after interest rates have stopped rising; i.e. just after any crisis that forces central banks to hike rates ignore the fact that you're going to be owning an interest rate proxy and you're fuel for the fire like every other stupid prole that think it's free money too protip: just apply at real estate agencies/firms/brokerages and get paid a little less than the work you seem to want to do is worth until the economy's on fire and you have money
>but I like it and it’ll be satisfying to me So you like working for the Queen of England? Willing to bet you have no clue what I am on about! What does BAR stand for?
BRITISH ACCREDITED REGENCY
I can explain if you want!
Corporate ATTERNeys are the only way to go with out committing real piracy.
Cameron Lewis
continually dollar cost average into the stock market in dividend growth stocks and mutual funds
only sell if there's a fundamental change for the worse in a mutual fund or stock
DRIP all capital gains and dividends
don't let lifestyle inflation creep occur. when you get a raise, invest that raise
find ways to live cheaper.
Real estate isn't bad if you want to do the work for it. I just invest in REITs because I'm lazy.
