• EU refusing to waive diplomatic immunity for diplomat who owes landlord $20,000
    37 replies, posted
Good thing some bright person came up with the concept of money as the very first invention of humanity so that we could finally begin satisfying our basic needs such as food, water, and shelter. You see, idiot fucking communists, paying for things with wages is the only way resources can be distributed, and prior to capitalism everyone just stood around screaming into the void until they died from malnutrition and exposure.
My landlord - Took out morgage, bought his first house, once he paid it off - he got another one and rented the fuck out of old house (he built extension to have more rooms [renting each room at 800 Eur per month, 4 rooms in house]), he always travels and has lots of free time, he helps his dad in his company and that's about it. It's definitely a viable investment, you could eventually own so many properties - you can just travel the world and give 0 fucks. Also - there is plenty of social housing schemes (Which either give you monthly rent to afford apartment or/and you can wait 8-9 years to get permanent social housing which will be in theory yours permanently), so really people who work and make money crying "I want free apartment" are the real leeches, not the landlords
Christ you're so close it's tragic.
My mortgage payment is only $560 a month. For 2.5 acres and a site built 1400sq ft brick home. Most urban people pay somewhere around $800-$1100 for about a third the square footage. There's no way my upkeep costs are making it that much more expensive. My point still stands.
You aren't comparing two similar properties, so your not really making any point in particular. The general rule of thumb for houses under 250k is that the upkeep costs makeup about 50% of the incoming rent. There are outliers, but 40-60% is the gold standard of basic investment. The mortgage gets pulled from the other portion of rent. Anything leftover after that is profit. Again, the upkeep means taxes, insurance, and ALL maintenance. That includes long term costs like major appliances, periodically repainting, roofing, and emergency repairs not covered by insurance. Upkeep also includes the labor costs associated with things like tenant placement. Some of these costs are defrayed since you aren't doing stuff like placing tenants, and are probably doing some of your own maintenance, but the overwhelming majority of them are there no matter what. There's tens of thousands of landlords out there with mountains of empirical evidence suggesting that these costs add up to a bit more than a mortgage. In fact, these values are so ubiquitous that they serve as an excellent litmus test. A property that can't rent for double at least double it's mortgage rate, is generally not a good rental investment property. This rule breaks down when the value of the land gets disproportionately high relative to the value of the buildings on it since land doesn't really require much in the way of maintenance. You're property doesn't sound like a good rental property. 2.5 acres is a lot of extra land value (and corresponding taxes) to pay for something that won't really increase the rent of the property. This goes back to the fact that you weren't comparing similar properties. You may like your property, and that's fine. There's nothing wrong with that, but the point is that your cost are potentially skewed because it's not a suitable rental property.
Haha did someone get evicted in the past?
Sorry, you need to Log In to post a reply to this thread.