I am 25 years old, college grad, I make about 42-44k a year in a state gig and it is not likely to change much in the next 2-3 years. Past that there is a good chance of a federal job which will pay much better, but almost definitely require moving. My debt is extremely low, pretty much nonexistent (month to month expenses). I currently live at home as I have been saving since I got out of college to buy a house. I have about $45k in easily accessible savings now so I could make a heavy down payment (I am socking much away in retirement funds but my job is pensioned and very stable) but I don't really know if it is advisable to dump that much into a down payment with rates this low.
I want to buy this house to live in for a while but perhaps later to rent, as I anticipate having to move to follow my career path. There is a property contiguous to family land and some land that I inherited that I am very interested in. I think it will sell for about $110-115k when/if it goes on the market.
The home I am looking at is very attractive to me in layout, proximity to other properties I own, and has significant sentimental value (I was very close as a young child to the couple that lives there, and their family) but the owners are an elderly couple, and one is likely to pass away soon and it is probable the wife will not be able to live on her own due to health difficulties. I guess those are extraneous details, but just gives you an idea that I personally want "THIS" house.
I would like to hear your thoughts on owning a home in the present market, viability of looking at a home as an investment (I know there are differing thoughts, but I plan to rent it out if/when I move for work later, and it is in very good condition presently so I think it would be an attractive rental home if I did that), and the advisability of purchasing a home at my age. Homeowning may be dumb for me, share your opinions on the matter.
Talk to lenders and realtors. There are a lot of fees on top of the normal 20% down payment, but there is a lot you can do. If you're a first time buyer you may be able to get a conventional mortgage for 3% down. You could get an FHA for 3.5% down. You could put in your offer 'seller to pay buyers closing costs up to 6%', and optionally offer 6% over list price. You could have a cosigner to increase your price range and rent rooms out. You could buy a duplex or triplex. You could buy a shithole, fix it up with 0% credit cards and cash out refinance.
Usually... Comment too long. Click here to view the full text.
Thank you for the input. It seems to me that over the course of just a few years, it is cheaper than renting.
Home prices and COL are very low here in general, but I will admit the idea of such a long term loan at this point in my life, while not scary, makes me cautious.
I am personally thankful that my parents insisted that I live at home out of college. I feel like having this much money on hand is a great asset, and I am in a pretty good financial position. But the assumption of a significant... Comment too long. Click here to view the full text.
>>1080501 A 30 year contract for hundreds of thousands of dollars is a little troubling at first. Not too many people enter with the thought of being profitable. Are you adding value to the house? Can you rent it out for more than the payments? Is it appreciating?
You will most likely not pay off the mortgage and ever own it outright, but rather make money by saving on buying vs renting, renting to tenants, or selling for a higher price.
How does one make serious cash flow off of real estate? If I purchase a $100k condo and rent it for $1000/month, I only make say $500/mo on average after taxes, HOA fees, maintenance, and on top of all that I'll need to do marketing and other legwork, all that for just 6% ROI, and that is assuming 100% occupancy. How does that compare to just throwing $100k into a low cost ETF that follows the market or REITs which requires no effort from my end? What am I missing?
I'm currently working with my family at a luxury vehicle repair shop. We've been skimming along now for a couple years and have a recurring problem. The problem is people at a certain time of year just leave their vehicles at our shop so that they don't have to pay us for the job.
I've Already suggested charging a storage fee for these people, but is there another better way of having customers collect their finished jobs?
Anyone here do anything like unconventional marketing consultation? Stuff like "paid shill," guerrilla marketing, social media manipulation, etc? I've been reading a few books on it, counter-intelligence, manipulation, etc and I thought about putting out a few lines and seeing what bites. I have set up different emails, sock-puppet accounts for different fora, instagram(s?), facebook accounts, twitter, and all that stuff to make it look like I have a small network of people. I was also planning on hiring "agents" if necessary in order to do what a client... Comment too long. Click here to view the full text.
I want to become a real estate agent in Washington state. Other than obtaining a license, what else should I keep in mind? Is it hard to be hired at a firm by a broker? When I think of real estate agents and brokers, I think of suit and tie. I have blue hair and drive a shitty SUV. I'm new to this, any advice helps.
> be me > undergrad economics major with a lot of econometrics > plan to go economics or statistics phd > CV is empty, no internships because I don't think I'm competitive to even apply > Aunt offers me a bioinformatics internship > way out of my field of interest but an internship is an internship.
What do? Do I take the internship even if I... Comment too long. Click here to view the full text.
Hey /biz/. I've got a question about dress. I've been a purchasing professional for two years now, and have a job interview coming up. Problem is, even though I'm 25 I still look really young when I shave. (like I could pass for a teenager) How unreasonable in a business environment is it to have trimmed stubble? This is a pretty conservative place I'm applying at. (automotive supplier) I don't want to instantly lose respect because I'm cursed with babby face.
What's the best way to make some money while in university? Campus jobs aren't taxed but I'm not trying to become a wage slave again. I'm working towards a BS in computer science and have decent experience in HTML, CSS, Java, and C. I was thinking of starting a porn site that uses affiliate links to direct people to other sites.
How much money can I expect to make from this and is it a good idea in general? It seems very doable and I can steal 100% of my content because they will just be pictures that redirect to other sites. Any other ideas to make side money? Game development seems fun but definitely not profitable, while ebay seems profitable but a lot of effort.
>>1079518 You're suggesting I make a porn twitter account then promote my site? Not a bad idea, and not sure what niche I could fill in fiverr. I have decent programming skills but nothing that would stand out as exceptional.
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