It’s a myth that renting is “throwing money away.” Maintenance of a property is expensive! I’m selling my place and I’ve never felt more free. I can use that money (~$5000/month) to invest even more.

likefunnysmart
Posting as :
works at
You are currently posting as works at

It depends, if rent is $2k and you can buy a house with a mortgage payment of $2k then it makes sense or even at $2.5k for the mortgage. It’s the people that spend significantly more like $3k+ in my scenario on a house payment because they can build even more equity, when they should just get the $2k mortgage and invest the additional $1k that would have gone to the house to an investment.

likesmart

PITI

Confused by your post now
But came to agree that I think “building equity” is a boomer mindset. It’s still valuable but older ppl in my circle act like it’s the only way to achieve stability.

like

I own 11 rentals and I never want to own my own home 🤪

funny

Just remembered that I can do this because I have a place to live for free*

funny

This additional piece of information makes your original post meaningless.

likesmart

You had a rental where you were losing $5000/month?

like

Can you elaborate? Are you losing $5,000 a month? What are the building maintenance costs?

Related Posts

like

Recommendation for a CPA/ financial advisor in NY? Have oversea assets and investment property in the States. Can't seem to find anyone legit on Yelp:(

like

How does the pre-tax parking benefit work at kpmg? There isn't much detail on ssc or benefits connection but it seems like it is on the honor system vs a separate account like FSA?

I grew up poor and was obsessed w financial security. After investing my blood, sweat and tears into my career for years, I’ve decided I don’t care about my career or earnings as long as I have enough to support my family. We are happier than ever making less and saving little. I wasn’t there when my mom was sick and died because I was working and my employer didn’t allow me to be in a mental headspace to be a good person for my family. I can never change that but I can be better going forward.

likeuplifting

I’m 25 and I have this itch to move to a completely new city. I love my city and just bought a house there but I just have this weird feeling I should be somewhere else. I’ve lived in my city for my whole life except for college (which was only 3 hours away). It seems weird and random to up and leave especially after just buying a house. Would love to hear anyone else’s thoughts/experiences!

like

How many of you are involved in share trading/Derivatives Trading apart from your current job? And how are you managing it? What return are you generating?

like

Newbie here, can anyone here pls share their trading journey?

like

You know how when you do something bad to someone else you get bad karma w that person? Who decided who was in the wrong? What if you both think you’re right? Who gets the karmic debt?

like

Favourite money saving hacks? Signed, Broke in New York.

likehelpful

Cons of moving 75% of my savings to an Intermediate US Treasury ETF (SCHR)? I wouldn’t mind losing 4-5% if the market rallies, but would rather put cash to work if the market keeps tanking

like

Since the Chase Freedom Unlimited gives 3% cash back on dining, does that mean you get more UR points that way vs. using the Chase Sapphire Preferred?

like

Are there any trusted resources for information on cryptocurrency investing?

(I've written enough long-form marketing disguised as a news to know when it's happening to me.)

like

Does anyone have experience managing an out of state property yourself? Are there any tips/services you use?

like

Currently 25 y/o making 70k/year in Boston. I grew up pretty poor and I have minimal financial education. A lot of my salary now goes towards helping my parents get out of debt. My parents are no longer able to live on their own, so considering selling my grandmas house where they live (maybe 550k), paying off their mortgage (100k) and buying a duplex (between them they make about 55k/year). Is buying a two family home a good investment ? How much can I afford to spend on a new house?

likehelpful

Planning on buying my 1st home. I'm looking at homes using a RedFin realtor. They recommended I get an Underwritten Preapproval. I don't trust the lenders they recommend. Any suggestions for lenders?

like

I would like to know how much will be in hand for London onsite from tcs for an IT Analyst.

I am planning to travel with spouse and 3 year old kid. Wondering about savings as well.

Any guidance is appreciated!

like

Will be booking some flight tickets and doing some heavy shopping in the next couple of months. Which credit card should I get?

like

What are 72 and sunny and droga benefits? Looking for details on 401k like vesting periods, matching etc.

like

Has anyone used or heard about Flagstar Bank for mortgage? Seem to have a great program for JDs, wondering if anyone has any bad experiences or good experiences with them

like

Is now a good time to buy a house?

like

More Posts

So does United Silver not get you a free seat upgrade if the seat is available ? (In economy plus, tried to jump to economy proffered)

like

What brands are you really into at the moment? Would be great to think about and be inspired by those doing a great job!

When a company reports bitcoin securities in their SEC filings, do the bitcoin securities get reported with the regular currency interest or is it a separate filing?

What's next after healthcare for you all?

like

What are some things you’d write in account person’s 360 review?

like

How to check if Bgv is completed or not ?

like

How closely do pwc consulting work with s&? And how common is cross staffing onto s& projects?

like

Beginning to consider going in house (4th, corp) - I really haven’t thought about what I want, partly because I’m not sure what’s out there/attainable. Is it a bad idea to start by applying to a couple positions that interest me and seeing where that gets me? I’ll of course prep for the interviews but am afraid to burn potential bridges if I ultimately decline because I’m still figuring things out.

like

anyone looking to case today?

like

Anyone got a six figure base as an AE? Hunting around for companies with 6-fig base and similar commission. Seems to be mostly field / enterprise pay.

like

Hi All
Is their anyone else whose FNF is still pending having LWD before 4th Nov?

like

Is it common for an SE to need to do analyst-style research for a POV/POC? This research helps guides our team of analysts in configuring the product’s environment for the POC. As an SE, I’m tasked with this research since I’m customer-facing but our analysts are not. Idea being that I can apply knowledge of the customer’s requirements.

likesmart

What to do if you haven’t heard from the embassy for 75 days. They have my passport. I came in for my H1B interview, VO told me it’s approved and I shall have my passport in 5 days. It’s in AP cont.

Completed HR round 10 days ago but no offer or updates yet. Still.showing in process. Is the delay due to Easter holidays?

like

Im 21, recently got a project manager job in a big media group, I still have about one year to do in my degree. Where would you recommend I take my career next, what would be the logical next jobs I could explore in that field?

like

How many of emails do you think you’re coming back to after Rosh Hashana?

What is the scoop on med mal defense vs. plaintiff work? Is defense more respected by other practice areas if I were to switch somewhere else later?

I applied to a position that brands itself as civil litigation and apparently the role is med mal defense. Not sure what to go by but would like to do a little research before I call them back.

like

Any feedback on PwC forensics practice? Good, bad and ugly?

funnylike

How many annual leaves can be encashed while resigning?

I have 31.5 leave balance showing in exit tool but no info on encashment.

like

Additional Posts in The Real Estate Bowl

I am looking into buying a multi unit (dullex,triplex,quad) in Chicago ideally in Lakeview East/West, Lincoln Park, Wicker Park, Logan Square, Bucktown areas.

This will be my first property and planning on living in one of the units. Downpayment will come from what I have in stock market but wondering if anyone has any models to how to analyze if it would be a good investment property. Would appreciate any help? First in family to get into something like this.

like

Do you thank your tenants for paying the rent? A quick thank you text?

like

Does buyer have to share appraisal with seller? Can seller request it?

like

Does anyone have experience managing an out of state property yourself? Are there any tips/services you use?

like

I’m in Dallas and have been renting for 5 years. I don’t have any savings, but have about 30k in my 401k. Im thinking about leveraging that to buy a condo/or house. Is that a good idea or am I in over my head? I mostly want to, because I’m tired of renting and I’ve read reports that prices will only continue to go up. Although, I will have to pay back the 401k + pay rent, so maybe not a good idea. Advice/resources would be helpful.

like

I am considering putting down an offer for a TH in a community that has Mello Roos. It gets added to the property tax. I am looking at paying an additional 5-6k for that.

Online videos say it’s all good because the money gets invested in building the community .

any potential downsides? In terms of future sales and demand ? What am I missing?

like

What is the term for giving your home buyers a credit for immediate renovations they will have to do before or upon moving in? And how does it affect the seller?

like

I have a rental property and my tenant is asking me to change the fridge light burb. I live out of state and don’t have property manager locally. Is it bad if I ask them to change the fridge light burb themselves?

I’m pretty responsive for things they need help with like laundry machine got broken or pantry doors fell off. So I had sent people to fix those maintenance and repair issues.

But light burbs? Srlsy? They are grown up people (fresh out of college girls)

likefunny

Having trouble selling my (retired) dad's house. It needs a lot of work, but has great character. What if I buy it myself for a low, low price? Then I would be able to get a FHA 203k loan to do the updates. Rent it out or put it back on the market in the spring.

like

I am wanting to start investing in real estate in the new year… I’m using this month to read up on it and familiarize myself with it. I am a true beginner and wanted to ask for any tips, tricks, advice, books, videos, magazines, podcasts, etc to start? Please let me know!

like

Under contract to buy my first home - house hacking a triplex. Property has been leased by the same three tenants for the last 5+ yrs, rents haven’t been raised since they moved in. Market rents have risen 70-100% in the same timeframe. All seem like ideal tenants (retired and take great care of the units) but I’d like advice on how to approach the rent increase conversation. Rents don’t make/break my mortgage payment but I’m leaving a lot on the table if I don’t increase significantly.

like

Is it common for HOA to ask you to prove your car registration is up to date?

like

Who is still in denial about a housing correction? The Fed just made another .75% increase. Powell said they won’t stop until inflation is 2%. He also said a recession would be better than the consequences of unchecked inflation. He announced he will bring rates to a “restrictive level” until “the job is done”. He said that labor demand needs to soften (ie: layoffs). He very explicitly said he wants to slash demand and that housing needs a “correction”.

like

Just bought a new primary residence that needs work. Current home has ~$100k equity after buying in 2019 with <$20k down (appreciated around 20% in the last 3 years, in a major metro area). Would you:

1) Lock in the appreciation & sell now. Use some for renovations/other investments.

2) Keep for another 2-3 years & rent out for a small cash flow (<100/month if self-managing), get a HELOC if needed. Note it would not pass my investment criteria if buying today.

3) other approach?

like

Looking for 2bd or 3bd with garage rent of $2,000-$2,200 ready to move in after July in the Orlando,FL area if anyone has any info. Please let me know! Thank you!

like

Due to a family situation we are looking to move to a different state. Normally we would sell our current home and buy a new home in our new location. However, with todays prices and interest, will it make more sense to rent out our current home and rent a home ourselves vs. selling and buying immediately when we move? We are moving from Vegas to Sacramento and we are not sure how long we would stay in the new area. Thoughts?

Can anyone recommend a solid lender in Westchester County single family homes? Low rates, good service, easy to deal with.

likefunny

This isn’t relating to investing but we are looking buy a SFH in South Orange NJ. We are have a 2 yo and we are moving from Sacramento. It is a close to a train station to New York.
Does any one here have any info, good or bad things to know about the area. We toured 3 different homes and they were relatively affordable by (600-750k) and it seemed like a small town community but we are not familiar with east coast/ New England. It’s going to be our first move there.

like

Hi all, I’m in the north east metro area and due to the current RE market we decided to look into PA specifically Lancaster. Anyone in this market and have any thoughts on where it’s headed? We’re looking purchasing a single family property all cash at 110k that rents for $1100 a month. The last owner bought for 35k like 15 years ago 😩 but hoping buying and holding for a few years will give a equal or greater returns over the long run.

like
like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal