You people suck. I just did a $250,00.00 loan for a 21 year old Mexican couple that both work at Panda Express. They were given $5000 from the State for purchase incentive (available to all first time home buyers) the sellers covered the cost of the Home Warranty. They are paying less now than they were in rent a month ago. If they want to move, after a year they can rent that shit out. Should rent for 1500-2000 a month. Will be able to 1031 up to a 4 Plex after they gain enough of an equity position. Then they can rent out three full units and have some stupid fucks pay their mortgage for then. These people were "berry thankful" to find a home. Now they're richer than you. I'm all down for gambling on shitcoins. But this is a business forum. Y'all fucks complaining about wagecucking and going nowhere. Immigrant wagecucks show you up. Read some books instead of charts, maybe you'll make it.
You people suck. I just did a $250,00.00 loan for a 21 year old Mexican couple that both work at Panda Express...
fiat is worthless user. you will never see the same returns that you will from bitcoin in the next 2-3 years. This shit is high level NWO. But the 250k wasn't your money so who cares
yeah there are nonprofits around me now teaming up with wells fargo to offer grants to people to get them to buy mortgages. if the fed keeps rates at current levels or lower forever it will all work out great for them. but it reminds me of 2005. also in high property tax states and states with a lot of houses over 500k and 1m people are gonna start looking around once they do their taxes this year
Can you help me get financing for a project?
How do I get a loan like this when I am stil $50k in debt mostly from college loans 12 years ago?
Whether your currency is in made up of paper money, or made up internet coins. People will need a place to live. Real estate historically will give you your highest ROI. Do you think people get rich by spending their own money, or borrowing from others?
You are clearly a child. Almost everyone does fixes rate mortgages now. That rate is locked in forever.
That’s why you’re a moron if you don’t buy a house right now before interest rates go up any higher.
To elaborate: I have a jewelry production studio, two prevalent LA art galleries willing to represent me, and publicity lined up in HYPEBEAST and Juxtapoz
College loans are calced at 1% overall balance. You need around 45% debt to income to qualify. 50k in loans means 500 a month. If you make 1500 net a month you're at 33% already. Just don't have student loans, a car payment and other debt.
>the new sales that happen once rates go up a few points won't have any impact on the market value of the house you own because you bought it at a fixed rate
You'll need a commercial lender. But typically you'll need two years of 100k in revenue to be considered. Otherwise you're looking at a personal loan.
That being said in your industry a lot of financing is just finding the people with money who like you enough to let you borrow it.
Ya I have some of those other types of debt too. Also what’s the difference between college loan and student loan?
Are you really saying someone would give me a house loan even though I’m in debt? Because if they wont then gambling on crypto is still my best bet.
Real estate ROI is shit when you take mortgage interest into account. Only way to make money on real estate is to have enough to buy a property in all cash to begin with.
name pls
What?
Definitely will have to be a personal loan.
In speaking with my gallery and other artists that work at scale, I was told to offer 100% equity in the work for the production financing.
The visibility is enough for me.
>just be a non-white immigrant couple with the numerous support structures from special interest groups, bro
>if you just read books, you too could work at panda express
what the fuck is this post
>If they want to move, after a year they can rent that shit out.
Nope, they can't. Mortgages don't allow for sub-letting or leasing.
Orale
No difference. Some banks give special consideration to drs lawyers etc. They're giving you the money, in exchange they own the real estate until you say them the money and interest back. Different than just loaning you 50k so you can go to school
Look at this retard trying to tell a mortgage lender how a mortgage works. You're dumb.
Missed the point dumbass. I said it's available to all first time home buyers. The point of being immigrants and working at Panda is to show you have no excuses.
bitch u suck.
Lets see them get their 4 plex, without a massive downpayment. Let's then watch the market fucking flop
Real estate has underperformed equities historically.
You don't seem to understand the concept of time value of money. Renting can make a lot of sense if you can earn a similar/better risk-adjusted return elsewhere. Also, putting a large percentage of your net worth into a single asset is very risky - especially if you're highly leveraged. You should read a book about some basic finance.
You're dumb. Read up on 1031 exchange and equity. Come back in a year.
And fwiw I do own an apartment, but doesn't mean I think it's a no-brainer for everyone to buy property.
Read chapter 1-3 in any basic finance book and come back in a week.
Everyone I know wants to see you have money and no one wants to give it to you.
Particularly when the social mechanism that uplifts artists is seen as a form of voodoo mysticism.
A loan would be easy if I were in tech or weed.
because it's so easy to immigrate to america if you're unskilled and white, right? moron. you were born with a golden spoon, you deal with people born with a silver spoon and you think you can tell other people they're lazy because you share their skin color
Let me know when anyone on this forum has the capital required to see that kind of return on equities. Until you're a millionaire, you really need to learn to take some risk. Saving up til you're 65 for 2.5 mil in the 401k sounds nice. But so does making 2.5 mil at 25 and doing whatever the fuck you want for the next 40 years.
Have you actually read the contracts? I bet you just put numbers and names in a computer and let it spit out paperwork that you've never read. I bet the most you know about it is where all the places the faggots you give subprime loans to have to sign. I guarantee there's a clause about subletting and leasing in those contracts and if the mortgage or insurance companies find out, those beaners are going to be in big trouble.
Step 1: put your money in public equites
Step 2: earn a return that historically has outperformed real estate investments
Everyone can do that.
You're comparing apples to oranges: using leverage to buy property vs not using leverage and renting. What you should be comparing is using leverage to buy real estate vs using leverage to buy equities and paying rent.
You're the one that brought in the oranges, I was just talking about apples. The issue is, you're not going to be able to leverage nearly the amount of capital for equities as you can securitizing real estate. As long as you buy for cash flow, and realize a home is a liability (not an asset), youll be able to grow that egg enough into where divesting into would make sense. 10% ROI is almost neglible until you're getting into the 6 figures. How many of the people on this forum have 6 figures ready to invest lying around?
>in 2yrs their property will be worth $150k
it's pottery
people do it anyways, the underwriters only check when they are doing the docs at the time of originating a new loan
There is. It's typically about a year for most lenders. It's why I stated to wait a year before renting it out. But you know so much man! Thanks for bringing in a decade old trope into the mix. Sure it really helped your argument. Great movie by the way, sad it's the limit of your mortgage knowledge.
Which is fine because then you'd move and rent it for positive cash flow.
I'm not American, but in my country in northern Europe you can get 35% leverage on equities at a 1% fixed rate (if you invest in relatively low beta stocks). The best fixed interest rate for mortgages is about the same, but you can obviously use more leverage. I have a little over a million in investments with 1.3 leverage (50% property, 40% stocks and 10% crypto). It wouldn't make a huge difference for me if I put all of my capital in equities instead.
That being said, I agree that buying property oftentimes makes the most sense for people who want to use very high leverage.
If the rate goes up what happens to the prices?
>Better keep putting my money towards rent until I have enough to buy a house to avoid that interest
Fucking what?