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Everyone doesn't lose their job, I would be purchasing post crash and I would be putting in tenants with jobs and with great credit and rental history.
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Everyone doesn't lose their job, I would be purchasing post crash and I would be putting in tenants with jobs and with great credit and rental history.
Lol where are you all getting this stuff from. 30K in student loans 10yr payoff his monthly payment wouldn't be over $350/mo. Again, unless he has said something else about other debts and his salary I don't see how he would be extremely high risk. His DTI should check out just fine.
Point me in the direction of a bank that is going to give a quarter million dollar (speculation of price) loan to a college graduate with light credit and no evidence of a major long term loan payoff.. I haven't heard of this before. They are going to want a large down payment if he wants them to even consider him.
I recently graduated and couldn't see myself going into debt for another 15 (or 30 :x years) just to own a house when i'm 53. I'll continue to share an apartment to keep rent low, knock out these loans, and invest the rest. Good luck OP
Economy crashes I will buy a few rental properties I'm ready for it.
People dont understand the era of financial leverage that created the boom n bust. The RE uptick you see now is a shift of liquidity from overseas into US assets.
The fundamental thinking that this boom after the "great" recession happened is a bit skewed.
For all those thinking a next crash will happen, well what do you think will bring it down? The same as in 2008? lol
For all we know, prices can stay elevated for the lingest time, and the break even calculation may extends further.
Real Estate is wealth because it accumulates with each passing generation.
Many are late to the party and continue to hold onto the idea that rental income will net them some positives. But do the math, the break even point will be a long long time. But your kids will thank you for it!!!
Breezy and Pdino y'all keep spitting knowlwdge in here so I can get me a crib , im 21 so I gotta minute
What about people that don't have kids or plan to have kids. I have friends that never plan on having kids that aren't really looking to buy property because of that
Exactly purchased mine at 22, made sense for me so I went for it.Bought my house at 23. You don't have to wait to make moves because society says you're young.
You can always buy an investment property. When I'm ready to move out of my duplex, the rental will pay off my mortgage and net me 700$/month if I moved out today. I got a huge refund from the tax break and increased my withholding at work so I make a couple hundred more per paycheck. I'm building equity in my home and home price has went up 10,000$ since buying it. I plan to refinance to 15 yr mortgage and by 45 yrs old I'll be making 3500$+ in rental income when it's paid off/ month.
The richest people in the world either have stocks or real estate.. Or both
I'm going to leave this here. Also, don't say I didn't tell you but if you are going to buy units, get a triplex not a duplex.
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