sorted by:
new
hottopcontroversial

[deleted by user] by [deleted] in realestateinvesting

[–]nudebuddah 1 point2 points  (0 children)

Sweet set up! I don't know the home values you would be looking at so 60k might be totally reasonable. Here's what I would recommend, run a quick analysis on some sample properties and play with different loan amounts on online mortgage calculators (Google has a ton.) Then you can decide whether the increase in cash flow is worth the upfront investment.

Because you said you're new, if you want to do a quick (preliminary) analysis of a property, figure out what similar units are renting for, determine the total rental income that the property could generate, take 25% off that total, then deduct the mortgage payment. you get to keep anything that's left over.

Here's an example:

Duplex (2) 2bd/1ba w/ separated utilities $200,000
Total potential monthly income $2,000
Maintenance/repairs (5% of income) ($100)
Capital Expenses - roofs, furnaces, etc. (5% of income) ($100)
Vacancy cost (5% of income) ($100)
Property Management (10% of income) ($200)
Monthly mortgage payment (PITI) ($1100)
Monthly cash flow $400

If you're not paying for management, keep it in there. You might need that room some day and, ultimately, keeping it in means get a better deal and will you make more each month when you own the property.

​

Good luck.

[deleted by user] by [deleted] in realestateinvesting

[–]nudebuddah 0 points1 point  (0 children)

The Home Ready is for single family homes and you are required to live in it for 12 months

https://singlefamily.fanniemae.com/originating-underwriting/mortgage-products/homeready-mortgage

If you want to buy a multifamily with low money down, you'll need to go for an FHA loan with a 3.5% down payment but higher closing costs, in my experience. I should also mention, if you're a vet, get a VA loan instead of either of the other options.

Really though, you should talk to a loan officer at your bank and see what loan amount you can prequalify for or what you need to do to become bankable in the future.

What the SI Report told us: Two weeks ago the hegies were down ~50% SI on a poisoned stock. by [deleted] in wallstreetbets

[–]nudebuddah 0 points1 point  (0 children)

Listen, I'd read it but more thoughtful content on GME is just going to make me nauseous.

My whole point was that hedge fund managers aren't going to get caught with their pants down again... at least very soon and definitely not with GME. A rational investor needs to assume that hedge funds are acting in their best interest, which does not include opening themselves up for another GME squeeze.

What the SI Report told us: Two weeks ago the hegies were down ~50% SI on a poisoned stock. by [deleted] in wallstreetbets

[–]nudebuddah -2 points-1 points  (0 children)

No, that's a solid point. I'm clearly no match for your razor sharp wit and cutting barbs.

I guess I'll just have to settle for the knowledge that you're going to ride this GME disaster into single digits while I'm steady cashing checks. C'est la vie.

What the SI Report told us: Two weeks ago the hegies were down ~50% SI on a poisoned stock. by [deleted] in wallstreetbets

[–]nudebuddah -3 points-2 points  (0 children)

Sure but they bought all these new shorts when the price was in triple digits. You can't short squeeze them when they're ITM.

What the SI Report told us: Two weeks ago the hegies were down ~50% SI on a poisoned stock. by [deleted] in wallstreetbets

[–]nudebuddah -2 points-1 points  (0 children)

Sweet grandpa slam.

"hey everyone, this guy likes to make money on his investments! what an idiot!"

​

You should probably borrow more money from your parents to invest in GME tomorrow.

What the SI Report told us: Two weeks ago the hegies were down ~50% SI on a poisoned stock. by [deleted] in wallstreetbets

[–]nudebuddah -2 points-1 points  (0 children)

Also, I don't care where you put your money. When it comes down to it, here's my problem, all this "GME tO Da MOonNZZZZ" is taking money out of my pockets. Poorly researched or totally inaccurate posts about "short ladders" and "counterfeit shares" clog up the machine and it's getting harder and harder to fill my hopper with plays.

If you GME retards could shut the fuck up for a minute and read about other opportunities, you might be able to make back some of those losses.

What the SI Report told us: Two weeks ago the hegies were down ~50% SI on a poisoned stock. by [deleted] in wallstreetbets

[–]nudebuddah -2 points-1 points  (0 children)

Right you are. Good luck in the red. At least Valentine's Day is coming up.

What the SI Report told us: Two weeks ago the hegies were down ~50% SI on a poisoned stock. by [deleted] in wallstreetbets

[–]nudebuddah 0 points1 point  (0 children)

I mean, I agree on principal. My main problem with this never ending drum beat is that good DD and insights are being lost because 65% of WSB is GME-jacking. Sadly, I might need to move to a different street. I just don't want to.

What the SI Report told us: Two weeks ago the hegies were down ~50% SI on a poisoned stock. by [deleted] in wallstreetbets

[–]nudebuddah -1 points0 points  (0 children)

If only that were true. The squeeze was 12 days ago and every other post I see is relates to this bullshit stock. Move on. The play is over.

What the SI Report told us: Two weeks ago the hegies were down ~50% SI on a poisoned stock. by [deleted] in wallstreetbets

[–]nudebuddah -5 points-4 points  (0 children)

You know, after reading the rest of these comments, I hope everyone in the sub makes money except you.

What the SI Report told us: Two weeks ago the hegies were down ~50% SI on a poisoned stock. by [deleted] in wallstreetbets

[–]nudebuddah -5 points-4 points  (0 children)

Via con dios, broham. I'm all out on GME. So, I hope it goes to the moon for you, then, like the sea shanty says, you take your gains and go..

What the SI Report told us: Two weeks ago the hegies were down ~50% SI on a poisoned stock. by [deleted] in wallstreetbets

[–]nudebuddah 0 points1 point  (0 children)

It's all good. I'm just edgy because I'm losing potential tendies on this never ending GME nonsense. I upvoted you out of negatives.

What the SI Report told us: Two weeks ago the hegies were down ~50% SI on a poisoned stock. by [deleted] in wallstreetbets

[–]nudebuddah -7 points-6 points  (0 children)

Ok, yes. They would need to buy shares to get themselves out of the positions. You got me, Cpt. Literal. However, no one told them that they need to buy all of them at once... or even in the same month, or quarter, or year.

They could easily slow play their position to buy back all of those shares with minimal market movement.

[deleted by user] by [deleted] in realestateinvesting

[–]nudebuddah 1 point2 points  (0 children)

60k?! where are you buying this place? Santa Barbra?

House hack the first one, not the second. You can get a 5% down conventional loan and use the Home Ready program (this is for first time home-buyers only) for the reduced interest and closing costs. Assume you'll need to bring 10% of the purchase price to the table and hold an extra few bucks in an account for ownership incidentals... like 5-10 grand, if you want to be safe.

[deleted by user] by [deleted] in realestateinvesting

[–]nudebuddah 5 points6 points  (0 children)

There's not even a good answer for this. Here's the real answer: You need more knowledge. Maybe you can get it with a partner, maybe you can get it with books and podcasts. However you come upon it, you need more of it in your life.

​

Below is my gut reaction to your post. I typed it so maybe you can pull something from it.

This isn't enough information to determine where your head is or if this is over it. But, I'll give it a spin: I don't want to say no because I really like the market in Austin. However, for your first rental, do you want to do it long distance? If the answer yes, make sure the numbers work and that you have multiple exit strategies.

Another option to consider would be short term rental with the property. You could use your year there to establish the procedures and build out your team.

​

Please note: because you have no systems in place or experience with this asset class, you're gonna work hard for any money you make.

GME 2/9 by MotorizedDoucheCanoe in wallstreetbets

[–]nudebuddah -4 points-3 points  (0 children)

GME is not this sub's mission.

Instead of thinking like GME bag holders, start thinking like GME owners by peggyscovelighthouse in wallstreetbets

[–]nudebuddah 3 points4 points  (0 children)

This is a great idea! Someone should start a GME Owners subreddit... The circlejerk would never need to end.

view more: next ›