Noko

I never really posted that much but its an old habit

They offer it in the UK, it's everywhere.

When you look to buy/rent a property to live in there's all this stupid "invest in property" shit you have to wade through. Literally the biggest sign that it's all going to shit itself in the next 5yrs.

Loads of people slapping 10k into a rental with 10 other people, oh and it hasn't been built yet.

They promise to build it, furnish it, find someone to live in it and pay rent, maintain it - for like 2yrs. and then you can renew contract or look after it yourself. so they do the maths and can 'promise' like 5-8% returns (pre-tax).

One guy I know is 25k into a apartment rental property in the north of england (house values don't go up any meaningful amount there), it's 9 months behind building schedule and there's no clause saying they have to cover the supposed rent if it's late or pay him anything. so shit

Woah, sounds like a real trap for people who don't know better

Is block chain (as a technology) worth exploring? like trying to come up with uses in different fields?

UK brah too. I've noticed a lot of people lately spending their savings and a few taking some loans to finance these things! Suddenly i nthe past year especailly.

This is exactly why i'm afraid to try get in on it myself. i'm going to stick to crypto for now, see what hpapens to this rental things and decide later. I just get the sick feeling that when it's been so shilled to normies and becoming so common place that it's already been milked, and some institution out there is going to profit A LOT by acting the opposite direction.

Its to the point where even people who i know are brainletswith cash are talking about doing it.

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I would seriously advise giving this a rest. You will spend so much time and effort on something that will either make you a billionaire (and without being born with connections, this won't happen), or there will be zero fruits from this labor.

Any average person would be better off investing their money, time, and energy into an education/skill, scrimping by on savings, and using the money you save to start or buy a business that you see a potential to add value to.

know those feels bro.

there's one exemption when it is actually good.

I used the help-to-buy, and first time buyer benefits to get a cheapish flat with 2 bedrooms. before I was renting for £550 a month before bills.

my new flat is £1100 a month mortgage, but I let one of the rooms for £475 with zero tax because i declare him as a lodger (7.5k lodger rent tax free a year. He also covers 65% of the bills and I am in the apartment to make sure he doesn't treat it badly - I made him get a bi-monthly cleaner (£40 a month). His rent is cheaper than others in the area for the flat so he's pretty happy.

So I was paying 550 a month for a flat by myself. Now I pay 1100 - 475 (his rent) = 625 (but a lot of this pays off the equity on the house not just interest). So in reality I pay about 400/500 towards a house asset every month and 100/200 towards costs/interest.

He covers a lot of the bills, I have control over everything. V good.

You can only do the lodger tax relief if they actually live in your house and you can only do this once with one person up to 7.5k.

How are you doing this tax free? Self-directed retirement account?

Real estate

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UK based. We get £20k a year to put into investment "ISA"s and it's tax free forever on capgains/dividends/interest/withdrawals (forever/unless government changes the rules - unlikely at the moment as it's been around for a good few decades).

It used to be just for shitty savings accounts but now you can use them for p2p loans, vanguard investments funds etc. so it's actually really good. The hardest bit is being able to put 20k a year in before the deadline comes - our wages are a lot lower in the uk than US and they tax us really bad. I've only been working 2yrs out of uni and already some of my income is hit with 40% tax + student loan % + National insurance %. So a lot harder to make free cash.

I see, thanks. I'm US based and we have something similar but with more restrictions on what you can invest in.

Although I did see a Medium article written by some pajeet where he used a self-directed retirement account through a shell investment company he created just so he could invest in crypto tax-free.

A relative of mine bought a fire damaged apartment complex in the early 1990s for just over 1.5 million USD, leveraged heavily. The units pay her $500k/yr after paying salaries and expenses. Not such a horrible thing to own.

Probably doesn't work at all either, huh?

Wrong, to this day she continues to improve the grounds and expand her property management business. She has grown into the commercial real estate market, purchasing undervalued properties and improving them to rehabilitate entire downtown areas and facilitate local cashflows.

She works the longest hours of all her employees.