***UPDATE*** Is this the most successful poll in blind history? I like to think so. *************** I'm in my 30s, nyc market is nuts, rental properties are pain. Feeling bullish (long term) in etf investments, trinity study, and stuff. Thoughts? NOTE: i might buy a little reit for diversification Cases Sudy: I have $1M... I could: - buy 1bd, think about where to fit wife and kid at some point - invest it in stocks and watch it grow to $7,612,255 in 30 years (assuming 7% return). Withdrawals will take care of rent #personalfinance #investments #reit #trinity #fire
As a side note, i had a property rented in Europe. Such a waste... I ended up selling it and investing everything, much better returns, no dealing with tenants, goods stuff, no regrets
Never buy the property yourself. Invest in syndications with good sponsors and let them do the hard work in exchange for a point or two off the top
How does syndications work? Can you share some examples?
Only multi family syndicates are worth investing in right now. With such low rates people will prefer to buy than to rent.
In nyc: hoa + taxes = another rent...
+1 to multifamily. Stability, long-term gains, and income while you wait. Amazing how many people don't go this route...
I’m in NYC and astounded that HOA is commonly over a grand like wtf
Yeah wtf indeed.
Are you looking at coops or condos? Because coops do have high HOAs, but taxes and utilities are included in it.
Don't live the debt slave life. Invest and do whatever else the fuck you want to do in life. Maybe buy a beach side condo in Thailand if that floats your boat. But do not pay up so much for American shacks.
You're only a debt slave if you don't have the option of paying it off immediately (e.g. by selling your house). Unless you're underwater, you're just using debt to your advantage.
I prefer to enjoy my life, a home is not just an investment. Not everyone buys a home solely for investing money.
True. The first home is like some life milestone. I just happen to don't give a fuck about it 😂😅
Do you have a child? I love having a backyard. Childhood only happens once. Money can always be earned eventually, there is no end to the rat race of making more money.
Is money every thing ? You are trapped by consumerism
Sir, this is a Blind
tc or gtfo
Wait until you are old and not working and have to fight with shitty landlords over a dead light bulb or overflowing toilet. And yeah in 30 years the tiny 1bedroom will be $5M.
Would you bet on it? That a NYC 1bd will be worth 7x 30 years from now?
Just go back 30 years ago and check for yourself. And guess how much your rent will be 30 years from now? The point of home ownership is to first raise a family, and second to have fixed expenses because you'll likely to retire on a fixed income.
OP don't listen to the people on blind. If you live below your means and rent a place that is good enough your going to do better in the long run by investing your extra money than overspending and buying to much house that you won't even use. Remember 1. A house you live in is not an investment 2. House prices can go down in value 3. You can leverage stocks if you want more risk and more reward (not to the same level as real estate though).
A house you live in is definitely an investment
A house you live in is a liability. It costs you money every year. If your renting it out and collecting money every month then you can consider it an investment.
Yeah in same boat where I could buy the house in cash but would tie up future capital all for the sake of diversifying into real estate that comes with additional and hidden cost
And look, you put all your cash in a house, you are not diversifying...
Yup most of your moolah is tied up. The traditional verbiage of home ownership is for folks that want to extend their leverage when they themselves don’t have the capital
You miss out on the leverage. The bank will never lend you a million bucks to invest in stonks
I know but then how much do you pay in interest? Mortgage interests eat most of real estate appreciation (according to my napkin)
Leverage or a trap?