GET IN HERE!

Actually, that reads kinda stupid.

>He sits on it for six months
>He hires people to fix it up
>He now has been sitting on it eight months total.

I thought the appeal of flyover America was you could buy a house for very little

Come at the king and you better not miss *folds arms*

Attached: D50smJQW4AYnCXB.jpg_large.jpg (640x781, 85K)

That’s a guy right?

>being a millennial
>not realizing the entire housing market is a tax scheme to steal all the land
>not occupying homes seized by foreign maritime banking cartels
Idiots

Unless you are a builder who can do all the work it's never really been profitable!

>buy dilapidated crackhouse
>"wow, so quaint"
>100k in renovations
>still surrounded by Greater Botswana
>can't even give it away

People watch HGTV where a couple in LA flip 1500 sq for homes for 30k profit in two weeks

what millennials have the cash to flip houses in the first place?

Yet all the capital on the land ie barns, milkhouses et cetera go until used and rot

I put wok kitchens in every home I refab, they sell instantly. The Chinese are taking over, and they will use the Mexicans as labor slaves.

you can buy a run down house for cheap, but if you want a move in ready house it will cost more. that is where flippers come in.

Viewing homes as investments instead of places to raise a family is literally the embodiment of the Satan that has overtaken American society.

If the Chinese were “taking over” you wouldn’t have flippers sitting on houses for months

kek, that is the epitome of dumbfuck investors in CO. nobody wants a fully renovated 3 bedroom off of south nevada that sits literally half a block from a crack motel

Attached: 1510383022367.jpg (480x622, 33K)

So you’re saying renovates family homes in nowhere, Ohio start at 300k??

>cash
hahaha. They all use "OPM" because they watch grant cardone and meetkevin and think they can become millionaires in 6 months with leverage

>take out a mortgage
>sell house
>use profits so that next house requires less mortgage

*renovated

Why would you get into this business if you don’t renovate most of it yourself? Profits will be marginal at best if you have to pimp out the whole project, and there’s little guarantee you’ll get that added value back. Dumb kids, watch too much Flip This House

Loans

fuck these faggots
houses are places you live, not investments

they should put in a wok kitchen and they wouldn't have these problems. it's a pretty significant build that requires a station with a large btu burner, running water, and commercial grade ventilation. Of course, they could just put a wok on the range when they're staging the house and hope for the best.

Thanks for the idea!
Adding dog kennels and cat cages to basement along side the torture and blood draining tables and lazy susan garages.

Something I dont understand is this part
>Pan couldn’t afford to wait for a rebound. The holding costs alone for three properties he was trying to dump totaled $30,000 a month.
What are they paying exactly?

W-where do all t-the whites g-go?

>wok kitchens in every home I refab
separate room?

They are taking out loans

Fuck estate flippers and fuck landlords.

Attached: EC2C44FA2ACB12EF84B001E612DE42F2_img170804213212-8DC4F60D.jpg (478x308, 29K)

>Why would you get into this business if you don’t renovate most of it yourself?
That's my point. Contractors could easily get into the business of flipping houses, but they'd essentially be getting a lot more risk for very little gain.

Attached: 1470799657056.jpg (797x748, 75K)

It's sad, but it seems some people still don't realise that TV isn't real; not even reality TV.

there's no money in flipping, but there is money in holding multiple houses on the way up

>Real estate always appreciates, and will forever appreciate.

Attached: dbhl.jpg (765x343, 59K)

if the area is gentrified yes.

A TON of boomers are going to get burned with this rationale

Property tax.

hopefully they all die

Gentrification is only in expensive costal cities

Well that and you have to be in a growing market. You just can’t go anywhere and flip a house and be successful long term. You may get lucky a time or two but that’s it. Metro-Atlanta, Charlotte, and Nashville are the hot areas at the moment.

Yep, boomers never actually invested in houses, they only ever passively speculated on a bubble of their own witless creation.

So the holy thing to do is collectivise the land?

The other part they don't tell you is there are companies that specialize in doing these flips, they walk in with cash and can keep randos out of the market. I know a few people that flip, my one friend has a niche market cause of the way he does it but it isn't a huge money maker and he makes more money with his engineering consulting.

>Property tax
30k on taxes for owning 3 house? damn.

What about for holding up multiple houses?
*destroys housing inflation by devaluing impossibly expensive houses with fire*

lol with trump bringing all these jobs back middle America will have a population boom.

All great places to get shot or aids

give me a well-styled spacious kitchen with a gas range and A FUCKING EXHAUST HOOD and i’ll give you money

>Trump bringing back those jobs
LOL at thinking Ohio can compete with Asian slave economies.

Good. Fuck them. They are responsible for a house costing what it does

In an ideal world housing bubbles wouldn't exist due to artificial scarcity, so them being a long-term investment would be secondary to their primary utility as a dwelling place. What boils down to essentially day trading McMansions and poorly flipped former crack houses wouldn't be a viable money making strategy.

When's the next housing crash? I've been saving up my federal reserve Jew bucks. I'd like to buy in after everyone loses their shit.

If your not lazy nigger and do your own repairs you can get houses for cheap as dirt where i live. I wont tell you where because im trying to buy up as much land as i can before the democrat globohomo gets here and the cost of living shoots to the moon

Lol no, southern cities are the hotbed now and have been for a few years

Tariff tariff tariff

Still cheaper than American labor

They are too stupid to understand how taxes work.

everybody buys into the TV and MAGAZINE idea/MEME that you just pick up that phone, hire contractotrs for thid, contractors for that, your wife will sit an "play" with interior design oftware to "design" the house...contractors EAT YOU ALIVE. a 1000 dollar job in materials? is several thousand in LABOR. If you cant do significant work yourself? its not a good idea. NOW, if you know how to do lots of work yourself? you can buy a cheap fixer upper, renovate it slowly in your spare time for a hobby, and have a CHEAP but like brand new house with all new walls and everything.

Do you even know what gentrification is? It is when middle class people move into crap hole neighborhoods (Brooklyn) because they can’t afford elsewhere and price out the blacks.

>"DUDE, I'M GOING TO GO FLIP HOUSES. RENOVATIONS! I CAN MAKE SO MUCH MONEY

People still talk like that?
I remember hearing that kind of nonsense from my idiot co-workers over a decade ago.

Exactly. Get fucked.

the top is right now

>next housing crash
the housing market wont crash like it did before
they are not giving out loans like candy to people working at McDonald anymore

It is like the rental meme. Most people I know with rental properties have decided to get rid of them other than people who have enough to pay for a management company, so they make money without constant work.

>all my friends and their friends can’t afford their $500k+ student loan debts
>what’s another $300k loan to them Surely they’ll fall for the same scam twice!
The guy who charged for flipping courses and ran is the modern timeshare scammer.

Attached: 4834E712-D280-4136-9D05-4D98D6FD8FD6.jpg (436x333, 20K)

>Mfw the housing bubble bursts and these idiot millennials are left holding the bag with enormous education debt and greatly depreciated houses they were hoping to flip to pay off their debt.
>Mfw I swoop in and buy freshly remodeled homes for pennies on the dollar.
Thanks chumps.

Attached: evil peoe.jpg (616x768, 52K)

HAHAHAHAHAHHAAHHAAHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHAA

The only real way to do this is to find a property that is undervalued and to make it look nice and put it on the market around market value. At the current state the real estate market is so inflated you almost can't find a home that isn't listed over market value.

Good, this kikery shouldn't even be legal. If you buy a house you should have to fucking live in it, not just sit on it until you can scam some zoomer into paying $200k to live in some 200 year old shitshack in the ghetto.

Attached: 1554853403906.png (962x726, 962K)

> tfw knew a girl in Kent who became incredibly smug when her and her bf bought a home to resell
> tfw Kent is mini Mogadishu now and nobody wants their shitty home complete with smashed windows
> tfw they're both in 500k debt and considering suicide and/or joint prostitution

So lads, should I fuck her infront of him, or him infront of her to add insult to injury when they eventually go out to pasture?

separate from the main kitchen, yes. they don't like the smell of food in their homes, but expect to be able to cook food on a 50,000 BTU burner, so you end up with a wok room basically.

In Zoos where Chinese will poke us with stick until we invent something they can copy

Get into the hemp market, but you need decent security to make sure someone doesn’t sneak in and grow weed in the middle of a hemp farm.

If im ever well off enough to buy a house and not a lolhovel i'm putting in a wok burner and a lab-grade vent hood, like picrelated

Attached: file.png (400x480, 268K)

>freshly remodeled
HA!

ah, yes i remember seeing those in southern california, and yes they are based and redpilled, would buy

The trick is, you can form a corporation, have it borrow money to make investments, and if it makes profits, you take them out and they become your money and you have the corporation borrow more money to make more investments, and if the market crashes, you let the corporation go bankrupt and walk away debt-free with all of your previous profits still in your pocket. This is the essence of where market bubbles come from. And the government will literally give away trillions of dollars to stop the bubble from popping, further rewarding everyone who participated in this racket.

Ever wonder why it's so hard to make a living working? Everything is set up to siphon the fruits of your labor into the pockets of various sorts of scammers. Society only keeps functioning because of people who are determined to do honest work, and that core of decency and integrity is used against them ruthlessly.

Ever wonder how Nazi Germany advanced so quickly? They did their best to throw all of that shit out of the window and only let people profit by doing honest work. This is why other countries were so determined to start a war with them: they couldn't let the example stand. The unworthy elites of these countries couldn't allow the people to see a tangible example of how all of their scams were unnecessary for, and at odds with, growing prosperity.

Only if they are liberals that spout nonsense like "race doesn't matter." Because if you don't want to get stabbed or robbed race matters a lot.

No one wants a house in Africa.

You need a run down house in a nice neighborhood.
It's not really the house that matters, it's the L O C A T I O N.

Im considering growing real weed. I have lots of land so i can play dumb and say it isnt mine.

i doubt its property taxes that are causing most of the headache for someone owning multiple properties and having trouble flipping them. the other guy who responded and said 'loans' is right. what basically everyone does in the us is 'buy' the house by taking out a loan from a bank, called a mortgage. so the bank buys the house and lets you live in it while you pay for it over like 30 years, at which point it's paid off and you own it. so if you got three houses to flip, and bought each one for 100k, you'd have to pay like 17k in mortgage payments every year. property tax rates vary by state, but they're usually 1-2%. so the property tax on those three 100k houses would only be like 3-6k a year. once you sell the houses, the mortgage payments obviously go away and you can keep the profit you made, but if you can't sell before you go bankrupt, you'll default and the bank can take the house and it fucks your credit score so you can't get any more loans in the future. im assuming the 30k in the article (which i didn't read) refers to mortgage payments.

Her in front of him. Make it really degrading to, shit he can't get out of his mind. Even if they do break even one day and start making money he has to remember what his wife did to other men in front of him.

Fucking this. I'm trying to buy a house now and it's a nightmare. Not only am I competing with spics who will trash the place, but also faggot millennials who will but $1000 worth of "updates" into it and then try to flip it for 200% what it's worth.

>$1000 worth of "updates"
teehee we replaced all the light switches with decora switches, now the house is worth 1.2 million!

sure it is if he has houses in NJ
the average property tax bill in NJ is 9k a year

The bottom line is millennials are pretty stupid.

t. Boomer. kek

If you've got some dough saved up look for short sales after property values drop again.
Patience will net you a nice discount on an updated home that some wannabe flipper can't stomach to hold.

Good. I hope it takes the female focuesed pornography that is HGTV with it.

They are. She was actually raped by a Somali at a beach party (everyone else ran off when they bix nooded and rushed the tent) and refused to press charges.
Should I rest a can of beans on her back and eat them as I'm rutting away?

That was Gen X, moron, not the boomers.

the problem is in places like NJ where the property taxes are 800+ a month for a small shitty 3 bedroom one bathroom house

I thought for sure the banks would loosen up and give out wild loans again. They got bailed out last time. Why would they give a fuck.