would you choose a nice big house over disposable income?

[The Refiner]

OR would y'all rather buy a multi family home and live in it, hoping the rental income will one day turn into disposable income?

 

[Jhoon]

I have a cousin that just bought a house. shyt is so expensive that they won't have any disposable income for the foreseeable future. Can't take any days off from work. Can't lose their job or they'll lose their house. Can't go on vacations. No going out to the movies or out to eat

I rather live in a decent apartment and not live check to check and be able to do shyt and live life at least a little.

Sounds like an impending disaster.

 

[Jhoon]

fukk buying a house in this day and age unless u are a CEO of a company, especially if the house is expensive

What a goofy response.

 

[BillCosbyAteMyHomework]

It's amazing to me how many people choose to be house poor. When we got our loan for our new house, they told us we could be approved for 100k more. We were like If we did that, we may be in your cousins situation- instead, chose to own a home, and still able to save/spend and not have to worry.

 

[Theabbot]

It's amazing to me how many people choose to be house poor. When we got our loan for our new house, they told us we could be approved for 100k more. We were like If we did that, we may be in your cousins situation- instead, chose to own a home, and still able to save/spend and not have to worry.

Exactly dawg. They told me the same thing. At first I was like but then my financial adviser broke it down for me. He told me that for every $10k between the house prices you look at, the monthly payment will increase by about $60.

 

[Jhoon]

Exactly dawg. They told me the same thing. At first I was like but then my financial adviser broke it down for me. He told me that for every $10k between the house prices you look at, the monthly payment will increase by about $60.

But what about the stunting? Betcha your punk ass financial planner couldnt quanitfy that. Btw, what kinda sucka ass mark ass mofo has a financial planner?

 

[Theabbot]

But what about the stunting? Betcha your punk ass financial planner couldnt quanitfy that. Btw, what kinda sucka ass mark ass mofo has a financial planner?

 

[dora_da_destroyer]

OR would y'all rather buy a multi family home and live in it, hoping the rental income will one day turn into disposable income?

I just did this, bought a 4 unit building, current rents cover the mortgage and rents/home prices are steady increasing in north oakland so in 3-5 years (plus getting rid of the PMI) it should cash flow 2000/month. Didn't need a single family home as one person

 

[GoFlipAPack]

the thing that scares me the most about buying a house is that you could become a slave to it. it's like you're trapped. you lose part of your freedom. it even creates stress at your job cause you become scared of losing it. sure it's an investment but what if you need to sell fast and it's a buyer's market?

i used to think renting is a sucker move if you can afford to buy but i'm starting to understand that it all depends on your circumstances and lifestyle. sometimes buying makes sense and sometimes renting makes sense.

This^^^ In in the military and I ALWAYS see people that buy houses and then when they have to leave they have to sell or find a renter. I dont want or need that stress. Dont get me wrong I like the idea of a house but not the maintenance and responsibility that comes with it. Ill take a dope duplex anyday. I like the freedom of an apartment. I can bounce when that lease is up. Had a couple cats ask me if i wanted to rent out their house. Nah fam im good. Im not about to help you get out of a jam by paying your mortgage