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How is owning and renting out property any better than wagecucking

It’s still work, you have to maintain the properties and dea...
cracking principal's office therapy
  07/16/18
who wants to sit in a herman miller chair all day and talk w...
tripping sickened heaven
  07/16/18
...
cracking principal's office therapy
  07/16/18
(guy who will never own his own home)
maize fiercely-loyal brunch
  07/16/18
I stand to inherit one and will likely sell it immediately
cracking principal's office therapy
  07/16/18
"I stand to inherit one" jfc what a loser lol
Plum Patrolman Queen Of The Night
  07/16/18
lol he's going to sell it immediately cause he has to split ...
maize fiercely-loyal brunch
  07/16/18
wtf
cracking principal's office therapy
  07/16/18
You seem upset
cracking principal's office therapy
  07/16/18
why would you do that land is the basis of all wealth ...
maize fiercely-loyal brunch
  07/16/18
It’s not somewhere I’d want to live so I’m better off just t...
cracking principal's office therapy
  07/16/18
i'm done paying rent, going to live in a motorhome
maize fiercely-loyal brunch
  07/16/18
(rich boi)
amethyst shaky business firm dopamine
  07/16/18
lol @ thinking the owner scrapes the shit You make a kill...
Plum Patrolman Queen Of The Night
  07/16/18
(guy with tenants' hep-c shit underneath his fingernails whi...
tripping sickened heaven
  07/16/18
"slavery is fun, hehe"
Plum Patrolman Queen Of The Night
  07/16/18
(guy sweating in cramped crawlspace while i order seamless a...
tripping sickened heaven
  07/16/18
No one wants to talk to bankers.
Domesticated Diverse Sanctuary Windowlicker
  07/16/18
Wagecucking + rental property as passive income = 180!
milky location depressive
  07/16/18
not passive income
maize fiercely-loyal brunch
  07/16/18
...
Deep hall hominid
  07/16/18
i think landlord is overrated especially when compared to...
maize fiercely-loyal brunch
  07/16/18
I'd way rather show up twice a month at my properties to fix...
lavender drunken foreskin puppy
  07/16/18
tbf it's more like the toilet today, and next week it's the ...
tripping sickened heaven
  07/16/18
fuck dc throw his shit out in the snow if rent isnt timely d...
Lemon Appetizing Native
  07/16/18
lol not even close my ex-gf inherited a bunch of overvalu...
maize fiercely-loyal brunch
  07/16/18
Sounds fun actually
milky location depressive
  07/16/18
accurate
soggy chestnut cuck
  07/16/18
Buy ethereum, hold for 10 months, cash out and retire
amethyst shaky business firm dopamine
  07/16/18
I have ETH and shitcoins, not much faith in it though
cracking principal's office therapy
  07/16/18
Eth will gain 80-90% by year end
amethyst shaky business firm dopamine
  07/16/18
Buy single-family homes and rent out to young couples or pro...
Excitant Roommate Indian Lodge
  07/16/18
And then you rent BACK the front yard at cost and park 50 ca...
motley digit ratio area
  07/16/18
Uhh youre not commuting to some shitoffice where you sit on ...
Onyx effete really tough guy
  07/16/18
You don't work that's the point. You slumlord and get renter...
motley digit ratio area
  07/16/18
...
Wild Talented Jewess
  07/16/18
Dat Schedule D ftw?
copper swashbuckling set
  07/16/18
If you don't underwrite such that you're including a margin ...
Adventurous coldplay fan
  07/16/18
Very few properties make sense with this built in it is very...
motley digit ratio area
  07/16/18
I haven't bought any that don't cash flow at least a little ...
Adventurous coldplay fan
  07/16/18
Had 3 rental properties, now down to two, one is overseas. ...
Learning Disabled Toilet Seat
  07/16/18
Just do buy Bay Area properties, thank
cracking principal's office therapy
  07/16/18
Pretty easy to do if you lay off the avocado toast. http:...
Learning Disabled Toilet Seat
  07/16/18
(cue Steely Dan intro)
cracking principal's office therapy
  07/16/18
It does make me feel a bit like a boomer, perhaps because ti...
Learning Disabled Toilet Seat
  07/16/18
(rich boi)
amethyst shaky business firm dopamine
  07/16/18
Moved out at 18 and never took a dime from my parents after ...
Learning Disabled Toilet Seat
  07/16/18
When did you buy the properties? The math never quite works ...
Tantric cruise ship
  07/16/18
...
Aromatic boiling water
  07/16/18


Poast new message in this thread



Reply Favorite

Date: July 16th, 2018 12:18 PM
Author: cracking principal's office therapy

It’s still work, you have to maintain the properties and deal with the tenants. Sure you’re somewhat independent but it’s still the worst kind of drudgery. lol at anyone who has this as some kind of goal.

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436762)



Reply Favorite

Date: July 16th, 2018 12:19 PM
Author: tripping sickened heaven

who wants to sit in a herman miller chair all day and talk with bankers when you could be scooping out shit some prole left in your toilet? #selfemployed

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436775)



Reply Favorite

Date: July 16th, 2018 12:21 PM
Author: cracking principal's office therapy



(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436800)



Reply Favorite

Date: July 16th, 2018 12:23 PM
Author: maize fiercely-loyal brunch

(guy who will never own his own home)

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436816)



Reply Favorite

Date: July 16th, 2018 12:25 PM
Author: cracking principal's office therapy

I stand to inherit one and will likely sell it immediately

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436831)



Reply Favorite

Date: July 16th, 2018 12:29 PM
Author: Plum Patrolman Queen Of The Night

"I stand to inherit one" jfc what a loser lol

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436877)



Reply Favorite

Date: July 16th, 2018 12:31 PM
Author: maize fiercely-loyal brunch

lol he's going to sell it immediately cause he has to split it with his brother

unless his dad disinherited his brother

people need to quit sharing their info on here it's all going into my spreadsheet

you should see the file I have on board Indians

I almost have Spaceporn identified

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436899)



Reply Favorite

Date: July 16th, 2018 12:35 PM
Author: cracking principal's office therapy

wtf

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436932)



Reply Favorite

Date: July 16th, 2018 12:32 PM
Author: cracking principal's office therapy

You seem upset

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436902)



Reply Favorite

Date: July 16th, 2018 12:30 PM
Author: maize fiercely-loyal brunch

why would you do that

land is the basis of all wealth

that's why they call it 'real' estate

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436885)



Reply Favorite

Date: July 16th, 2018 12:33 PM
Author: cracking principal's office therapy

It’s not somewhere I’d want to live so I’m better off just taking the money. Would never even consider renting it out and dealing with all the tedium that involves.

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436918)



Reply Favorite

Date: July 16th, 2018 12:34 PM
Author: maize fiercely-loyal brunch

i'm done paying rent, going to live in a motorhome

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436926)



Reply Favorite

Date: July 16th, 2018 12:31 PM
Author: amethyst shaky business firm dopamine

(rich boi)

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436897)



Reply Favorite

Date: July 16th, 2018 12:29 PM
Author: Plum Patrolman Queen Of The Night

lol @ thinking the owner scrapes the shit

You make a killing renting and pay plumbers, maintenance and property managers to deal with shit.

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436881)



Reply Favorite

Date: July 16th, 2018 12:35 PM
Author: tripping sickened heaven

(guy with tenants' hep-c shit underneath his fingernails while i sip free coconut water and type on my ergonomic keyboard)

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436930)



Reply Favorite

Date: July 16th, 2018 12:41 PM
Author: Plum Patrolman Queen Of The Night

"slavery is fun, hehe"

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437002)



Reply Favorite

Date: July 16th, 2018 12:46 PM
Author: tripping sickened heaven

(guy sweating in cramped crawlspace while i order seamless and check up on the day's business news on my FIRM-PROVIDED smartphone)

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437061)



Reply Favorite

Date: July 16th, 2018 4:11 PM
Author: Domesticated Diverse Sanctuary Windowlicker

No one wants to talk to bankers.

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36438873)



Reply Favorite

Date: July 16th, 2018 12:21 PM
Author: milky location depressive

Wagecucking + rental property as passive income = 180!

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436795)



Reply Favorite

Date: July 16th, 2018 12:21 PM
Author: maize fiercely-loyal brunch

not passive income

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436803)



Reply Favorite

Date: July 16th, 2018 12:23 PM
Author: Deep hall hominid



(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436813)



Reply Favorite

Date: July 16th, 2018 12:21 PM
Author: maize fiercely-loyal brunch

i think landlord is overrated

especially when compared to easier paths to self employment

but being self employed is not about working less. however now with overpopulation wagecucks work just as much

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436799)



Reply Favorite

Date: July 16th, 2018 12:22 PM
Author: lavender drunken foreskin puppy

I'd way rather show up twice a month at my properties to fix a toilet (or better yet, just send out a handyman to do service work) and go fishing the rest of the month every day.



(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436812)



Reply Favorite

Date: July 16th, 2018 12:27 PM
Author: tripping sickened heaven

tbf it's more like the toilet today, and next week it's the hvac (but for some reason when you show up there's a whole in the damn wall), and also by the way grayson has to go to washington d.c. with his class next month so rent will be late, and on and on and on.

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436863)



Reply Favorite

Date: July 16th, 2018 12:33 PM
Author: Lemon Appetizing Native

fuck dc throw his shit out in the snow if rent isnt timely direct deposited in your account.

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436916)



Reply Favorite

Date: July 16th, 2018 12:28 PM
Author: maize fiercely-loyal brunch

lol not even close

my ex-gf inherited a bunch of overvalued NY real estate

issues she deals with

1.) renters keep calling the city to make repairs, city bills outrageous rate, she finds out about it from the tax lien, now she will evict them (they will not pay rent or leave in the next year if they play their cards right)

2.) about 10% of renters need to be harangued for their check every month

3.) renter of a commercial property was putting illegal immigrants or something in a storage space above the building that didn't have a kitchen/bathroom/etc.

basically your tenants are always trying to fuck you, if you have enough you can make real money you have a few that do nothing but fuck with you. about 80% pay on time and don't cause problems

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436867)



Reply Favorite

Date: July 16th, 2018 12:36 PM
Author: milky location depressive

Sounds fun actually

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436943)



Reply Favorite

Date: July 16th, 2018 12:47 PM
Author: soggy chestnut cuck

accurate

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437078)



Reply Favorite

Date: July 16th, 2018 12:32 PM
Author: amethyst shaky business firm dopamine

Buy ethereum, hold for 10 months, cash out and retire

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436905)



Reply Favorite

Date: July 16th, 2018 12:34 PM
Author: cracking principal's office therapy

I have ETH and shitcoins, not much faith in it though

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436922)



Reply Favorite

Date: July 16th, 2018 12:42 PM
Author: amethyst shaky business firm dopamine

Eth will gain 80-90% by year end

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437014)



Reply Favorite

Date: July 16th, 2018 12:35 PM
Author: Excitant Roommate Indian Lodge

Buy single-family homes and rent out to young couples or professionals who will want to live in the same house for at least 2-3 years.

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36436935)



Reply Favorite

Date: July 16th, 2018 12:49 PM
Author: motley digit ratio area

And then you rent BACK the front yard at cost and park 50 cars in it with valet during football gameday at $100 per car and make $30,000+ every fall

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437116)



Reply Favorite

Date: July 16th, 2018 12:43 PM
Author: Onyx effete really tough guy

Uhh youre not commuting to some shitoffice where you sit on display in a glass box for faggots to gawk at you while they walk by?

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437022)



Reply Favorite

Date: July 16th, 2018 12:45 PM
Author: motley digit ratio area

You don't work that's the point. You slumlord and get renters stuck in the property. They put down months of security deposit and don't know what nice things are. House gets no upkeep, ever. Doll it up every 2 years using security deposit proceeds.

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437044)



Reply Favorite

Date: July 16th, 2018 12:50 PM
Author: Wild Talented Jewess



(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437137)



Reply Favorite

Date: July 16th, 2018 12:46 PM
Author: copper swashbuckling set

Dat Schedule D ftw?

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437063)



Reply Favorite

Date: July 16th, 2018 12:48 PM
Author: Adventurous coldplay fan

If you don't underwrite such that you're including a margin for management, you're doing it wrong.

Whether you choose to self-manage or not, you shouldn't have a property in your portfolio that wouldn't still cashflow even after paying a manager, typically 10% of gross rent.

Day-to-day management of a property is typically much, much less work than a "real job". Yes, it's work to rehab and get in shape to rent (if you've been smart and bought a fixer-upper) but that should only have to be done once, or in any event very, very rarely.

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437096)



Reply Favorite

Date: July 16th, 2018 12:50 PM
Author: motley digit ratio area

Very few properties make sense with this built in it is very hard

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437134)



Reply Favorite

Date: July 16th, 2018 4:10 PM
Author: Adventurous coldplay fan

I haven't bought any that don't cash flow at least a little with management fees included. (I own three rentals and self-manage only the one that is nearest to me geographically.)

Yeah, it takes sifting through a lot of deals that don't work to find one that does, but on the other hand, how many houses do you buy in a year anyway?

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36438864)



Reply Favorite

Date: July 16th, 2018 1:02 PM
Author: Learning Disabled Toilet Seat

Had 3 rental properties, now down to two, one is overseas.

Overseas property is rented to a German company, prepays the entire lease upfront, tenants are high level execs who don't trash the place. They just re-upped.

The other two are / were in the Bay Area, one a SFH the other a townhome. The SFH we still have is rented out to a mixed/AA couple who pay rent on time, take care of the place, and never caused issue. The other before it was sold was rented out to a Merc-dealership mechanic / nurse wife (HHI just under $300k) who literally left the place better than when we rented it to them (he cleaned and repainted walls himself).

They key is renting properties that are going to be on the higher end of the spectrum + screen your tenants. For our US properties, we just hold a Saturday open house where we see all the possible applicants in person, can talk to them, and observe how they act. No doubt XO racists would have ding'd the AA applicant couple but they were 1. The first to arrive in the morning of the open house 2. came prepared with the application filled out entirely 3. did a solid handshake and eye contact, which still means something 4. weren't the richest but weren't the poorest either, very likely residents who would make this their permanent home versus leaving in a year or two. The other couple was a no-brainer, mechanic (so you know he will DIY repairs) whose dealership was a 5 minute drive from the property and whose wife also worked within 10 minutes; again, solid couple that likely won't move (and didn't for over 4 years until they bought a place w/ a 1hr commute).

What this means for our upcoming retirement is that post-IPO I can take $1.1 mil of the proceeds and pay off all our mortgages. With our two Bay Area properties we could rent them out and after taxes and insurance are paid collect $90k/year of income. If we move to a lower COL area and buy a nice home outright ($500k-$1mm) then we wake up January first of each year w/ no montage, no car payments, and $90k to live on as a base that naturally adjusts to inflation and an underlying asset that appreciates conservatively 3-5% a year.

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437287)



Reply Favorite

Date: July 16th, 2018 1:04 PM
Author: cracking principal's office therapy

Just do buy Bay Area properties, thank

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437308)



Reply Favorite

Date: July 16th, 2018 1:05 PM
Author: Learning Disabled Toilet Seat

Pretty easy to do if you lay off the avocado toast.

http://time.com/money/4778942/avocados-millennials-home-buying/

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437320)



Reply Favorite

Date: July 16th, 2018 1:07 PM
Author: cracking principal's office therapy

(cue Steely Dan intro)

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437336)



Reply Favorite

Date: July 16th, 2018 1:14 PM
Author: Learning Disabled Toilet Seat

It does make me feel a bit like a boomer, perhaps because timing wise I'll be retiring around the same time most of them.

Also, bootstraps!

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437386)



Reply Favorite

Date: July 16th, 2018 1:05 PM
Author: amethyst shaky business firm dopamine

(rich boi)

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437323)



Reply Favorite

Date: July 16th, 2018 1:06 PM
Author: Learning Disabled Toilet Seat

Moved out at 18 and never took a dime from my parents after that, not even for school.

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437335)



Reply Favorite

Date: July 16th, 2018 9:37 PM
Author: Tantric cruise ship

When did you buy the properties? The math never quite works out for me. Would you recommend buying even in today's environment?

(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36441003)



Reply Favorite

Date: July 16th, 2018 1:41 PM
Author: Aromatic boiling water



(http://www.autoadmit.com/thread.php?thread_id=4027241&forum_id=2#36437642)