Yea Forums, how old were you when you first bought a house? Did you sell it or rent it out?

Millennials are apparently born between 81 and 96. So I think that is just a meme and a good amount of younger people are just bad with money. It is definitely doable in a lot of parts of the country. The recession definitely did not do is any favors though.

No, paying someone else's mortgage is insane. If you want a decent house in Hawaii you need to pay for a decent house. My buddy is E5 and single and profiting. He bought it because an e6 we know did the same thing when he started and every srb would buy another property. Dude hasn't touched a navy paycheck in over a decade because he's making $40k a month off of properties.

You're a fuckin retard.

Explain

I feel like it's just a meme too because why would gen Z kids be able to afford homes while millennials cannot?

Bought a triplex at 23, lived in one unit rented out the other two. Bought a second rental property (two houses on same property) 1 year later. Bought a new condo 1 year after that, it was just a down payment, builder actually went bankrupt and the project got put on hold, it's being built now and almost complete. Bought my own house 1 year after the condo that I currently live in. Sold the triplex, but a workshop in my backyard. Currently in the process of buying a cottage for personal use. Also looking for another rental property at the moment.

If you want more details or any questions feel free to ask.

Where do you live and what do you do?

i kinda want to buy a house, or an apartment as long as it is cheap i would take it.
Thing is, i dont know ANYTHING about that kind of stuff. What should i look at when picking one? Again the idea is for it to be cheap but not a fucking shit hole.

This is that good shit. How much profit have you made off your properties?

Look into mortgage programs or read up on traditional mortgages. Look into a real estate agent you trust or ask friends and family to recommend one. Once you are pre qualified for a mortgage take like 30% off the max they quote you on so you aren't strapped monthly and just look at a ton of houses. Its free to look and find something you are happy with. That is the basic gist anyway.

Cheap is harder to rent out and harder to find good renters for. If youre going to buy cheap, go to the nice part of your town and buy the cheapest property there and clean it up. Or, if you have anybody that's a contractor or you're in a self contracting state, you can get a new construction loan and build a house, and use the loan to pay for it while it's being built. Then rent that out or sell it. Most states have a penalty for selling within 2 years of building so I would rent it out the first 2 then sell.

An hour or so from Toronto. I graduated from mechatronics engineering and worked a few years in controls and automation doing programming and design, 12 hour days/7days a week. Did that for a few years then quit and have been working as a mechanical engineer and dabbling in electrical and programming (mainly mech now, but was a small company and was bouncing around for a bit) ever since.

To be honest I don't have a actual figure of total profit. I bought the triplex for 420k, sold it for high 600s 3 years later after redoing 1.5 of the units. I don't technically own the condo yet but its value has gone up 80k since I put the downpayment down. The other rental I make 20k/year profits. My personal house I've done a bunch a work on and built a giant workshop in the backyard, based on recent sales in the neighborhood I'm estimating it's worth about 250k more than when I bought it.

I also made 200k in crypto. But lost most of it when the market crashed. Whoops.

this is a completely foreign concept to me but good for that guy
i might go for 2 or 3 bed but i dont need or want a giant house

Why do you care?

The problem is you're in Hawaii, so if you don't spend 500k+ you'll 95% get a shithole. Just harder to rent and less desirables rent cheap places. Buying any property is gonna be a win tbh. Nothing is riskless ofc. That was my friends first buy. Check the property values by year for an area you're interested in and see if it's going up.

I want to know if the millennials can't afford houses stereotype is true.

so i should stay away from condos or townhouses?

>check for mortage
>look for someone trust worthy to help me find a good place
>try to find that even if it's cheap can be rented or that has potential to be.
>fix it if deemed necesary
>keep in mind laws regarding real estate
i think i got it. Thanks.

Depends, is it a I'm a poor crackhead and need a townhouse rental kinda place or a I'm old and rich and want a place to stay in Hawaii when I visit kinda place? Price and location will affect your potential clients and therefore your profits/losses. There's more crack heads than rich people so it'll be quicker to rent out, but won't get as much on return. Every option has ups and downs. It's up to you to decide how much risk you're willing to take on.

im looking at a few for 350-400
theyre mostly in gated communities with and look pretty nice
i cant fucking find one with a gas burning stovetop though

I was 24 when I bought my first one, in 1978. I sold it, bought another, have had 4 others, now rent a 2 bedroom apartment because I'm too old to want to fuck around with maintenance and shit.
>Don't believe the bullshit line about real estate being a good investment.

20, I got a mansion next to my dads even bigger one, never worked or even went to school, parents never visit me, no one visits me anymore, friends only came over because I was the rich kid, even that could not stop them from bully me after I got diagnosed with autism. I play minecraft almost 24/7. Have not been outside for almost a year.

tfw just live with my parents

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How'd you afford it then?

bump

How old are you

28

It's not riskless. If you're a fuckin sperg it can always go tits up.

Currently renting a small place maybe twenty minutes walk from work. I bought a house when I first started making decent money, but sold it because frankly being tied to one place like that really limits my options for advancement.

Neet?

>If you're a fuckin sperg
Or if the fucking market crashes like it did in '07 after all the sub-prime shit backfired. Out of your control, then.

My dad paid for all of it, I got a bank account but I have never paid any bills or anything like that, not even sure who does that stuff for me sorry

Yeah bad luck is bad luck. You could take no risks and save every penny and still die from an aneurysm.

No, I work.

I'd rather be rich and an autist than work for a living like a fuckin loser.

What's keeping you at your parents house?

Exactly. All of life is a crapshoot. Just do what you can to enjoy it, and set aside a little something for retirement.
Glad I did, have friends my age who didn't and it's really sad to see.

>how old were you when you first bought a house?
27
>Did you sell it or rent it out?
I live in it. Its a mobile home.
>If you don't have a mortgage, are you renting a house, an apartment, or do you live with your parents?
I own my trailer outright and live on it for $415/mo til I can acquire some land and go fuck off innawoods.

for the record I also have a normie GF and several Ks in the bank. Just got approved for credit for the first time in my life. Kinda broke, savings aside but Im pretty content.

Just don't really have much savings beyond some 401k and don't really care to go live by myself in some shit apartment.

Bought a 2 family house at 30. I rented out the main part of the house for 12 years & lived in the upstairs apartment. I’m gonna move into the bigger area this summer & rent out the apartment in the fall.

Are you turning any profits? Is the property worth more or less now

Happiness above profits.

What's your source of income? How much do you have to pay for utilities

Live by yourself in a house then. Might not be by yourself as long as you would living with your parents

How am I supposed to afford a house? I don't have tons of money for a down payment.

I was a sous chef and relocated and became a hottie (cement mixer) on film sets.

>I don't have tons of money for a down payment.
If you have any kind of credit rating at all, there are TONS of banks that will finance with zero down, do a little research!

That's a job I didn't know existed until now lol. Are you in California then?

The rent I collected covered 2/3’s of the mortgage over the years. My house is easily worth more than 100k more than what I paid. I plan on doing about 50k in improvements this summer. If I tried to sell after the summer I could probably get 150-180k over what I paid.

I am not. But I am in a place where a bunch of films are being made cause its dumb cheap.

31, finally in market to buy a house. Made a lot of really, really bad decisions when I was a young man and am just now getting stable; this is the first time in my life that I have no credit card debt and am making over $45k a year. Be smart with your money when you are young, Yea Forumsros, it only gets harder as you get older.