I managed to get myself in a very comfy situation

I managed to get myself in a very comfy situation.

>ecommerce site nets a little bit over 2k/month
>living rent free in the country with uncle
>excellent good goy points
>no debt
>20k liquid assets

I know I have baby dick cash flow but I don't have any liabilities. Since, I actually have some capital I was looking to get two houses in Texas and renting them out to some spics. I am aware that we are in a housing bubble but interest rates are low. As long as I get a fixed rate loan, the rent I collect should be enough to cover the mortgage payments and also some extra pocket change.

Am I missing something? Will the housing market really crash that hard if and when the chink money pulls out?

Attached: maxresdefault.jpg (1280x720, 110K)

grats, you have achieved poor worthless redneck tier

I know I'm poor asshole. It's still better than being a wagecuck in the city. I'm asking if there is any downside to this RE idea.

Don't be a cunt

sounds like you've put yourself in a decent spot. I would go for the property only if you know what you are doing with house repairs or know a guy. If you do you'll live a pretty comfy life eventually if you keep doing that shit you can build a decent bit of wealth.

If you're happy then there isn't a downside. You're your own master, run with it.

Don't buy mobile homes for God's sake. They are literally disposable properties that never appreciate in value.

How long have you been earning this income? Usually you would need to show at least 2 years in the same field if you haven’t earned it that long. How much are prices there? You can only qualify for First time buyer once, meaning you will have to pay conventional down payment on the second one. That’s 20-25% for a rental property. Rental properties also have higher taxes.

Yeah that is something I will consider. I think my uncle can hook me up with a guy.

I was thinking of getting something in the country since it was a little bit cheaper. But that's a solid point. It took me a while to accept that I live in a trailer. But fuck it, I lived in the city long enough.

user i dont know much about the property and i am in no position to suggest anything. just think once before putting money in that buying two houses will make your chances bleak in case you want to move from there. other than that, i guess you are in a good shape as you have achieved all by yourself. good luck

>ecommerce site nets a little bit over 2k/month

Please explain.

Hey, some trailers are fancy as fuck mang. Its only if you live in a trailer park with refuse that's shitty.

work on your site / make more sites and wait for the housing crash

Attached: pepebaby.jpg (1000x800, 57K)

I haven't paid taxes till this year. I've been living in commiefornia until this year, so I only got paid under the table. The only w-2 I received was in highschool. I only started to receive checks from the companies I work with since August of last year because I realized I needed to establish credit. My mother made me an authorized user on her credit cards and transferred her excellent credit on to me. Afterwards, I told the credit card company that I made 60,000 as a web master for one of my clients. Since then, I used that 5,000 credit card to go balls deep into crypto. I maxed out and paid off that card about three times. I still haven't filed so I am debating if I should declare more of my crypto earnings to get a better chance at a loan.

I recently got a LLC and I still need to turn it into C or S corp to avoid future taxes. But I'm not sure what is better since I plan to own all my future assets under my corporation.

What would you do?

>20k net worth
>wants to buy two houses

The absolute state of real estate in north america.

You'll make it, user.

I know it's retarded. But hey gotta take advantage of the cheap money. I wouldn't consider getting a house if I didn't plan to rent it out.

I partnered with my now former boss to run his site part time and I get a cut from sales.

The bank can take possession of your house and you lose all your equity if you miss a payment.

It seems like you need to spend more time making money and learning how to pay yourself/ taxes. You should save up and expand your business outside of crypto for security. You’re already leveraging credit cards, you should focus on getting away from using debt to gamble.

Expand your business, file as s corp, and wait for the housing prices to come down

Thanks, user. So that means I need to take more profit to recover my initial down payments. And give the banks the minimum amount so I am less exposed to a market crash.

It's just so hard to wait. I've already sold all my crypto and I recently started scaling back in. It's just very hard to just have the money in the bank doing nothing. But I guess sometimes it's just better to wait. Thanks for the advice.