Most Americans are stupid, why are they getting mortgages when this is the better option?

[Standing on business]

We have all these people overpaying for these homes when this is a way cheaper option.

why do I need mortgage, when I go buy a foreclosure for 25k, knock down, spend another 50k building a new a house on the lot, the house will appraise for 250k, not only did I increase net worth I also have zero debt

 

[Freedman]

Building a new house for 50k ?? Must be IN Duckberg

 

[MaxBundles]

Build a house for 50k brehs

 

[breakfuss]

Yall petty as shyt

 

[PoPimp84]

In this climate, getting a home built for 50k???? You’ll be taking major shortcuts to pulls that off, like plywood doors and shyt

 

[Standing on business]

 

[pete clemenza]

Where can you build a new house for $50K?

 

[Strapped]

We have all these people overpaying for these homes when this is a way cheaper option.

That was bs op be smarter

 

[mag357]

We have all these people overpaying for these homes when this is a way cheaper option.

Nah.... He's right.

I've told my young homeboy to do something similar.

The money he's saving for a down payment. Can be used to by a foreclosure...

U then get maybe a 25k to 50k loan to fix it the way you like it...

So now instead of paying back a 300k mortgage, you'll just be paying back basically a car note

That crib will probably be worth double when it's done tho...

People do this shyt all the time ..they either flip the property immediately or get section 8 tenants

 

[Antwon Mitchell]

Didn't know coli nikkas be having $50-75K “CASH” just sitting around like that

 

[CrimsonTider]

Nah.... He's right.

I've told my young homeboy to do something similar.

The money he's saving for a down payment. Can be used to by a foreclosure...

U then get maybe a 25k to 50k loan to fix it the way you like it...

So now instead of paying back a 300k mortgage, you'll just be paying back basically a car note

That crib will probably be worth double when it's done tho...

People do this shyt all the time ..they either flip the property immediately or get section 8 tenants

50k to fix it the way you like

 

[ExodusNirvana]

Maybe somewhere in the South? Like far out away from major cities??

 

[bnew]

 

[MajesticLion]

Contractors left and right are caking like crazy because of the demand...but they're going to drop everything to work on your 50k project

 

[50CentStan]

The process to get everything approved is a headache initself. And you know how hard it is to win an auction in a hot area?