>live at home >save 100k to buy a house in cash>buy used camper, park it front of said house>live in it with my cat>rent out house 1 until enough down payment for house 2>rent out house 1 and house 2 to pay off mortgage for house 2>iterate the same process until i own hundreds of housesam i missing something or is it going to be just that easy?
>>58782038have fun finding a renter that wants a creepy guy living in a camper outside their home all day
>>58782038Holy fuck you are stupid and weird
>>58782045He’ll be able to find a renter, they’ll just likely need to discount rent. Plenty of people will put up with a landlord in a camper if they save $100-$200 a month
>>58782045so except for this step the rest checks out to you would you say? i think it might actually be air tight.i thought about this already and if i couldn't get a renter to agree to let me park outside their house (not in their own driveway) i could just find someone on craigslist to let me park outside their house for a few hundred a month which i assume should be easy to find as a fall back plan
>>58782049i already have 15k saved and should hit my mark in 2 to 3 years if all goes well. just wondering if you guys see any holes in this that i don't
>>587820389/10Where are you going to dump your poop and what discount would I get on rent if I let you live out front
>>58782045Ez, rentoids are desperate.Turn the home you buy into a triplex and rent three!You can simply park your RV in the backyard or driveway, so you can use the amenities. I leased a plot of land and my tennent built a brand new house. He asked, I said absolutely. Win/win.
rent income is taxableAt least -30%
>>58782061why do you need to park in front of your own house? why not just park somewhere away from houses?also, where can you buy a house and a campervan for $100k?
>>58782153a gym membership is something like 20 dollars a month thats also how i would shower and use their power outlets to charge my portable battery while i shower or whatever. i also door dash so im out all day anyway so i can probably usually find somewhere to shit like walmart is open 24 hours for example.
>>58782193i want something like this>https://gorollick.com/r/vehicle-details/2019-dutchmen?partner=jdp&trim=0&id=2cf13d69-b1e5-4abc-8cb9-697ae814f7d6&distance=200&zip=94501&categories=rvs2019 camper for 15k and absolutely massive with full amenities. truthfully i would want something even smaller and cheaper. the reason for parking in front of a house is just to get free parking
>>58782193>where can you buy a house [...] for $100k?texas is where i have been looking specifically
ok so if i have this all laid out correctly:i should be able to buy a used camper for about 10k and since i live at home i should be able to save up 100k door dashing within a couple of yearsnow then, looking at homes in say, san antonio texas (city with a robust renters market) i should be able to buy a home for 100k in cash and rent it out for 1500 a month or 18k a year (yes, before taxes)but combined with the money i also make door dashing i would be able to put a normal sized down payment on a second house within just one yearand if i also rent out that house i should be able to pay off the entire mortgage for that within just a year or a year and a half so in about 2 years i should be able to have two homes paid off, uh, is that right? and with the money they infinitely generate i see that i could simply keep buying and renting out houses presumably forever? assuming 100k per house each generating 18k a year the path to becoming a millionaire or something close to it seems perfectly attainable using this plan in little more than a decade's time. it can't be that simple can it?
>>58782038Shitter's full!
>>58782300Doordash is a scam. Good luck saving up $100k doing it. It keeps getting worse every year.
>>58782329i saved up 15k door dashing all on my bike so far. i don't know how long it will take to get 100k but all i do is save money and live at home and go ride my bike and listen to music all day. i literally get paid to ride my bike and listen to music. i can just do that forever if i have to and i wouldn't even care
>>58782221>the reason for parking in front of a house is just to get free parkingwhy does it have to be in front of your own house? he said not in the driveway so he means on the road. you don't get private road parking in front of your own house so why?
>>58782353its basically just so no one will call the cops on me because yeah i could probably park it anywhere but i don't want to get ticketed or towed away. its basically just a way to get free parking in an inconspicuous wayalternatives are:>live in house with roommates>live in yard shed/cabin type structure roomates would undercut my profits too much and a camper is just way nicer than building and living in a backyard shack
>>58782038Or you just buy a duplex instead of having to shit and shower at a walmart every day.
>>58782406i thought about that but they cost more. i need to start cheaper for my first house then i can start buying more expensive houses
>>58782059>your landlord lives 10 meters in front of your door.Man that would fucking suck balls. Imagine living next door to your boss.
>>58782038Your plan only works so long as the housing market does not implode.
>>58782038you may find that REITS return more money per dollar invested with less work, but it varies.Living full time in a cheap paid off camper is smart tho regardless. having a mobile home is security that most have not caught on to yet.
>>58782221buy an ad. campers are money pits. you want something as barebones as possible to reduce the chances of getting fucked to replace something that is sparsely available and therefore overpriced. water WILL get into every crevice. so if you continue with your dumbass idea address that foremost.>>58782300you think it will be this easy but it will be a nightmare desu. the juice is only worth the squeeze if you are exclusively renting to church going asian tenants and are able to leverage enough credit. door dashing or waging for capital in any form really is a waste of fucking time and you're better off using your faculties on how to use other peoples money as much as possible.>>58782345if you like doing it then thats fine. but I dont like making people that hate me richer for no reason. id rather do those physical activities without letting any monetizing happen at all.
>>58782942since i doordash for a living i know i can use section 179 to get a free box truck or commercial panel van to help me do my job to deliver stuff and that would be big enough to live in. but honestly i just want a camper so my cat has room to run around a little. i'll never ever drive it. so repairs should be very minimal. i'd just get a guy to tow it to the place and do nothing but shitpost from my gaming laptop in it. even without section 179 i can still get one for the same price as a used truck or van. its kind of a no brainer. even if i wasn't doing this buying a nice used camper for 15k and paying some random guy to let me park it outside his house for 250 a month beats paying a landlord 2500 a month just for a place to sleep after i come home from work that will keep me poor forever. that 15k camper i posted looks better inside than where i live now >>58782853thank you very much i will look into this
>>58783027of course its more economical than renting a place. the comparison should be with an ADU though. why have you dismissed the backyard barn shed option? You know third worlders build them for no money so what's stopping you from building one to your specs and saving 10k versus buying someone's money pit? because you haven't even researched it?
>>58783051if you can link me to a prefab kit that costs less than 10k i would seriously consider that yeah, but bear in mind that for 10k you can get a camper that already comes with a whole bunch of shit already in it
>>58783082I dont know about prefab never looked besides an amazon tiny home. I would build it myself for under 5k like any jewtube fag has done and never have to worry about insuring it, getting towed, or water leaks/rust/replacing worn tires from sitting so long. but if that section 179 thing gives you a free van and you love making door dash richer then thats prob the best route bro.
A $100k house in 2024 will be very small, very old, and somewhere awful. It'll take you 15 years to recoup your investment on it renting it because your tenants WILL be losers
>>58782038One word: Tenants. You won’t know until you know. An REIT is a better route. Humans are terrible.
>>58783246insurance? not sure what makes you believe a trailer requires more maintenance than a shed>>58783267heres a 3 bedroom 2bathroom 1,177sqft in san antonio for 100k that looks nice. street view doesn't look like a bad neighborhood https://www.zillow.com/homedetails/8002-Mallow-San-Antonio-TX-78239/26186616_zpid/>The average rent for an apartment in San Antonio is $1,278 865 sqfti looked at memphis also and for 100k you can essentially own a small mansion. but unlike memphis the rent market in san antonio is actually quite strong. so it all depends on city
>>58783318Let's say you buy a $100k house, cash. What do you figure your ROI will be? You'll probably be making 5-6% after everything's said and done. Why not skip that hassle/risk and just buy treasury bonds that are paying like 5+% right now?
>>58782038I live at home and have a $1.2 million portfolio (~$200k in cash or cash equiv). I was initially thinking of buying a home.... but I just keep living at home because it's comfy as fuck>free rent>free electricity / utilities>free internet>free foodI have two full remote WFH jobs adding up to ~$240k/year, and it pretty much all just gets poured into my portfolio. I guess eventually I'll buy a house at least, but I dunno what I'm going to do with all the rest of the money. Not really into traveling or anything.
>>58782038This was the meta to get rich as a boomer. Just keep leveraging debt to get cash flow via buying houses to rent, but is no longer possible.Banks won’t let you take big debt out anymore unless for very high interest at which point after mortgage payment and interest payment your properties won’t be cash flow positive until mortgage is paid off. Also you can’t buy a house for 100k in cash. More like 500k is cash if in America and 1 million in Canada
>>58784295>This was the meta to get rich as a boomerexactly. it's no longer the meta. it's just a diversification investment. how many years would it even take to be cash flow positive?
>>58782853eufag here, i cannot buy us reits because they keep 15% of the dividends, fuck off scammers
>>58782038Was good till>>rent out house 1 until enough down payment for house 2Depending on your area, you might have to do background checks on the people renting, or have some form of contract. They can up and leave a huge mess if you don't have anything protecting you from people using your house for illegal shit.My dad used to steal appliances from the houses he was in.
>>58784276the whole point of living in a camper is that it lets me skirt around having to pay for my own housing. that way i would just constantly collect rent instead of constantly pay rent. my goal is to collect something like 18k a year in rent after paying for house 1 up front in cash. then i don't have to do anything. i can just sit back and continue to collect that 18k until its enough to buy another house again. realistically im still working so i should be able to do a downpayment in 1 year and pay it all off the next year. then i just keep doing that over and over. but the real secret was the camper. because without it i essentially wouldn't get free housing. think of how rich a renter would be in their lifetime if they could somehow earn that money instead of spending it each month? the camper work around lets me do that.also shit like stocks and coin i might want to get into but renting out a property seems much less gambley and rng and a much more solid and reliable way to accrue 18k a year
>>58784295>after mortgage payment and interest payment your properties won’t be cash flow positive until mortgage is paid off.which is exactly why im living at home and saving money now. so i can just pay for house 1 up front in cash.
>>58784534>saving up 100k to buy a house cash. thinks he's going to be able to use that as collateral for a mortgage on a 2nd home.go to your nearest bank and tell them your plan. if they offer to give you a mortgage for a 2nd home after having 1 owned outright and a doordasher income I would be very surprised. all this to make 6% a year on your money is not a "master plan" its someone that doesn't have any experience which you dont.
>>58784771tell me again if i can generate 18k in rent each year combined with my income with zero debt why the bank would have a problem with that? i save almost everything because i have very little expenses and if the bank doesn't want to approve me i could just sit back until i have another 100k which i calculated would only take me two years to do with house 1 and my low paying job alone. with house 2 it would happen even faster than that. my numbers tell me that in less than 5 years im making over 100k a year as a door dash biker.
>>58782221you still haven't addressed what you're going to do about your daily, fat american trash who lives in a camper shits. are you going to knock on your tenants door if you have to take a dump in the middle of the night? maybe a bucket?
>>58784832all this dialogue is worthless when you haven't even asked the bank for a loan yet.
>>58784838i think campers actually do have indoor porta-potty toilets so if i really had to i would use that. but as a door dasher im outside all day so its not really a challenge to find a restroom some place. i would never interact with my tenant. i feel like i would actually have way more privacy living in a camper parked on the street than i do now living at my mom's apartment with neighbors walking around above me.
>>58784850the point is i don't even need the bank. its me who can tell them to fuck off not the other way around
>>58784857ya that fills up in like 2 shits then you have to either pay someone to pump it out. im sure your neighbors will love italso it reeks if theres shit sitting in there
>>58782038>>rent out house 1 until enough down payment for house 2Nigger do you have any idea what cashflow a house rental generates?After maintenance costs, many landlords break even on cashflow and only make a profit on long term capital appreciation.
>>58784896not sure why id need to pay someone to pump it out. not sure how they work but i'm imagining a plastic bladder in a sealed chamber that can only be accessed from the outside, at least that's how i would design something like that. i also think you're focusing too much on that one thing and not the fact that it would allow me to become a millionare in a short amount of time
>>58784899within the first ~five years i plan on owning at least four properties renting out each at minimum 18k a year. with my door dash job thats 100k a year. my first house will be on the cheap end (100k-120k) and might require more repairs but each house after that will be progressively more expensive and newer/higher quality so requiring less repairs and maintenance. but at that point i would be able to pay for anything easily
>>58784857I live in a camper right now as part of a work situation where a family business with a bit of cash is letting me live in their camper with cheap rent to work for them for the year. It has a toilet and sinks that are connected to tanks under the camper. You need to have a way to drain them. You also need an incoming water source, both for flushing the shit/toilet paper out of the tank and for basic living/showering etc. Incoming and outgoing water is missing from your plan at the moment.
>>58784924thanks yeah thats good to know this actually made me look on amazon for toilets and this is what i found https://www.amazon.com/SereneLife-Portable-Indicator-Traveling-Roadtripping/dp/B07218B4DQ/ref=sr_1_2_sspa?crid=2OMN57S102F1Q&dib=eyJ2IjoiMSJ9.0St5oWhQXpcAvB9AoFo9kO5K4CixN5V__OjzvSJ5kfC_-biRT0Byl0Yq1ImxJ0bTdpcowbwHQ1fht0DcHeCeRtpdrN9eBx00E7tu6JDK06bX62hrXPgCFND4RTyYJjL3ZLvRGg_mFVqisnrgzRROYCb4KFllAdm7mKxGZcDCg2dhRNEmVEVUJEKulW5NqiwTdNUCvflswoVchw_YSfbm3xN-eO67XaYhsAMOEwgZGV_-WDA02uDyHJrtbXO8zKDtKLZzU-50sJV2J1Q2-GkNBLhMcpl8OXAnectZojg5aMs.4nfnaNLjpf9uxZlhvYtjG7YP1_x_7iGd1kQvoKsLAOE&dib_tag=se&keywords=portable%2Btoilet&qid=1721969389&sprefix=portable%2Bt%2Caps%2C306&sr=8-2-spons&sp_csd=d2lkZ2V0TmFtZT1zcF9hdGY&th=1it works like how you would imagine with a plastic bag in a sealed chamber. the product claims "50 flushes"apparently introducing baking soda and white vinegar should kill a lot or most of the smell. its not ideal but should work well enough in an emergency
>>58784936Is going celibate part of your plan
>>58784950in the short term, yeah
>>58784921I wonder how ppl like you are so retarded. Normal people just get a better job if they want more income, and invest in stocks if they want capital appreciation. Your “strategy” is just delusional.You aren’t going to make 100k doing door dash. And you aren’t going to be buying houses that anyone wants for 100k. Renting out property isn’t even a good return on your investment. You spend a fuck ton of money and barely get enough back to pay your property taxes.
>>58784974Damn calm down bro
>>58784936Yeah, no. Campers already come equipped the sinks, toilet and tanks i mentioned. You need to have a way of emptying the tanks. One for black water (your poop) and one for grey water (all the other water that goes down a drain, such as from the shower, handwashing/dishwashing sinks etc).How are you going to drain those? Lets say you buy that amazon thing, where are you going to put it in the camper? That looks like a training toilet for toddlers and baking soda isn't going to help you with the smell. And where are you going to dump it? Are you rationing only 50 'emergency shits' over the course of your 5-year plan or whatever? Where are you going to shit the rest of the time? What are you going to do for electricity? Internet?
i recommend engaging a professional property manager once you have the house. it will take some money out of the rent but you do not want to deal with tenants directly. advertising, qualifying, collections, inspections, evictions and maintenance are all nightmare situations. most of the expenses can be tax deductions depending on your state laws.
>>58784974i can reliably pull 30k a year door dashing. its not a lot but i just like riding my bike and listening to music all day. i don't really consider it work and i can't believe i can even get paid to do that. also im in california but theres a lot of nice homes that go for 100k-120k in san antonio with a 50/50 renters/owners housing market (so lots of renters available competing with each other to look for housing) with a median rent of 1300 a month. i imagine i could charge a couple hundred more by renting out an entire house which is how i arrive at my 1500 a month or 18k a year figure. now bear in mind i have basically zero expenses because i will live in a camper and can save money indefinitely. any repair would simply slow me down from buying my next property. it could never stop me from buying my next property and the next one after that because i have zero debt, almost no personal expenses, and all i do is save money. also property taxes in texas are pretty low. 4 houses generating 18k each plus 30k door dashing (or whatever) = 100k a year in ~10 years = millionaire
>>58784981thanks yeah thats good advice. i actually did plan on hiring a property manager after completing 4 or 5 houses and selling my camper and buying property overseas or just traveling around the world full time. i didn't consider doing it for the first property but i'll strongly look into it
>>58784980a 20 dollar gym membership at 24 hour fitness is how i would shower and i don't plan on doing any complicated cooking using a food warmer mostly that toilet you can buy on amazon is really just an emergency toilet. mostly i'll be using restrooms at different places since im outside all day as a door dasher. i believe if i know my body well enough it should work out.internet you just tether to your phone's data planand for electricity im going to buy a portable battery and charge it daily while i take my shower at 24 hour fitness using their power outlets. i really just need it for my gaming laptop, a usb lightbulb, and a food warmer for the most partalso a good quality cooler and a 4 dollar pack of ice from walmart can keep food cold for a few dayseventually though i would buy solar panels which in california or texas would work very well for me
>>58785005Ok so you are making 30k a year. Thats the REAL number.Now lets proceed to your rental "plan". You do realize the rents and property values are correlated right? Additionally, right now buying is actually overproportionally expensive.So your probably getting 600$ a month for a 150k property. You are delusional if you think you are going to get 10% APR. You'll probably be getting less than half of that.Now youre trying to save up 5x your yearly income, even if your frugal that will take 10 years, just to earn 600$ extra a month, after repairs that'll probably take you decades to even get back your original investment.Literally just get a real job first. You'd even be better off just buying notes instead of doing your dumb convulted strategy.
>>58784561What made real estate a good investment back in the day was leveraging debt with cheap interest and mortgage payments allowing for cash flow positivity from a renter from day 1 with the bonus of also having an appreciating asset. No longer the case now. Buying fully in cash isn’t the greatest investment. You’ll be lucky to get 4-5% back on your investment each year on rent. It’s decent for sake of diversity and some cash flow but it is nothing like what it used to be and real estate is a lot more risky right now as it’s due for a correction
>>58785039i found a 3 bedroom 2 bathroom1100 sqft house on zillow in san antionio for 100k. the median rent in san antonio is 1300 for 865 sqft. can you explain how an 1100 sqft property can go for 700 dollars less than the median price in a city with a lot of competition from renters for rental units? i thought the house looked to be in pretty good shape and the neighborhood didn't look bad in street view. then at 120k-130k houses in san antonio look basically brand new. you would estimate them to go for 700 dollars less than the median? why?
>>58785059owning a home outright allows me to park a camper in front of it, basically giving me free housing. anything i generate from renting it out is just a bonus. and i expect to generate whatever the median rent price of that city is. lets say its 1500 or 18k a year. hypothetically, on a 100k investment, where are you getting a 5% return on it instead of a 18% return on it each year. walk me through how you get to that number.
>>58785062Maybe you found a great deal, then good for you. But think of it this way. If it was such a great deal someone else would have already snagged it. I just did a quick search on san antonio rentals vs buying, and at the size <1500 youre barely getting anything below 200k. Most between 200-300k.And the rentals are max 1.5k, with the really cheap ones being 800-1k.Exactly like I explained300k house -> 1.5k rent200k house -> 1k rentThe ratio stays the sameSo my first estimate was actually not that far off. If youre getting something for 100k, theres probably something wrong with it and youre getting <800$ rent for it.
>>58785078The only real obstacle in your plan is getting approved for a mortgage on the 2nd house. Everything else is fine. The reason I say it might be a problem is because 1) they will find out you live in a camper parked on the property you rent out. 2) they will know that your rented property is an absolute shithole and this means your tenants will be trash and it will cost more in maintenance. These will raise alarm bells on your ability to repay a loan. Your actual income is also very low so you're dependent on these shit tenants to be able to repay any loan. Personally I think if you manage to save up 100k there are way better ways to use it than this plan. Starting a business (a real one not renting to drug addicts) and investing are 2 better things to do. Just sticking it in an index fund would make you more money than your plan.
>>58782038>rent out house 1 until enough down payment for house 2>avg home cost $400k>assume 20% down payment = 80k>avg rent in USA $1250/mo>64 months (5.33 years) to get 80kyou'll need some time but in 10 years you could maybe be on house 4. you'll also need some extra income to pay the mortgage outside of the 1250 rental income, or its going to take much longer.
>>58785146https://www.rentcafe.com/average-rent-market-trends/us/tx/bexar-county/san-antonio/the lowest rent in the worst neighborhood bottoms out at 900 dollars. so the lowest of the low peaks at 900 dollars not less than that.https://www.zillow.com/homedetails/114-Durant-St-San-Antonio-TX-78237/26251207_zpid/heres a 840 sqft 125k house in a good looking neighborhood. why wouldn't it go for the 865 sqft 1300 dollar median rent price? it looks like a perfect candidate to go for that. all new floors nice neighborhood nice yard how can you justify claiming that only going for less than 800? what logic do you have?claiming 200k houses only going for 1k also sounds crazyheres a 1,302 sqft 165k house that looks very nice in a very nice looking neighborhoodhttps://www.zillow.com/homedetails/8518-Sweet-Maiden-St-San-Antonio-TX-78242/26374171_zpid/you're claiming that house goes for less than the 865 sqft 1300 median rent price? thats absurd.
>>58785183>avg home cost $400khttps://www.zillow.com/homedetails/111-Golden-Crown-Dr-San-Antonio-TX-78223/26264712_zpid/ive been able to find a lot of good looking homes in nice working class neighborhoods in san antonio for way way under 400k
>>58785150i agree that house 2 is the big hurdle but as long my expenses will stay relatively close to zero, and they will by way of living in a camper, i can almost buy house 2 up front in cash with just my low paying job alone in just a few years. you see i don't even need the rent money. its literally just a convenient bonus that speeds up the process to house 2. then once i complete that it basically opens up the flood gates to house 3 and house 4.
>>58784832Why don't you just be productive and sell shit or something. Buy Costco buns and hotdogs and sell em on a busy street. Buy ice cream and sell it at a beach. Then all that money that you saved can be reinvested into other shit. If you're already doing door dash just cut on it the middleman and earn real money directly. It's not that hard if you're going to put in that much labour anyway. Investments will get you up there. The house can wait.
>>58784289>but I dunno what I'm going to do with all the rest of the money. Not really into traveling or anything.keep saving and live off the yearly profits without dipping into the savings, help your parents retire or whoever you're living with
>>58785221because i need to solve for housing. the difference between spending 18k a year on housing and making 18k a year on renting is what is so pivotal. it simultaneously drives my expenses down to zero and tacks it back on to my yearly earnings instead. its literally the difference between me being poor forever and me buying a lamborghini just because i can
>>58785253I'm not disagreeing with your plan. I'm disagreeing with your door dash faith. You literally have dozens of things you can do to make much more money but you don't. Get the house. But get that income first and double down on the investments because while you're saving up for that house those will pay back better than just sitting on it. It's like half your plan is missing. 30k/yr how you going to save up enough for 100k? Work smarter not harder
>>58785275i don't know if setting up a food stand would make more money probably it would but i imagine it has a lot of start up cost. door dashing doesn't. you guys recommending to do other investments dont understand that im looking for a final and ultimate solution for housing so im not constantly losing money. i feel like i have to solve for that first before i do anything else. if i can stop the bleeding then i can only go up. i have to do that first before i do anything else. if i can simultaneously rent out 4 properties i will be making 100k a year. then is the time to start other investments, not before then.
>>58782038Owning a rental property is not some walk in the park. You have to do the maintenance. You have to collect rent. You have to deal with low lives who don’t pay rent. You have to evict them. You have to clean up after them when they leave. It’s actually a lot of work and having more properties only increases the work exponentially.
Its funny because poor people always think real estate is some kind of cheat code because rich people have lots of property, but thats just because they ARE rich.Imagine having a part time job to earn a couple of thousand dollars a month but having to put in 7 figure capital.If youre willing to put in the work, start a business. If you aren't willing to put in the work, just buy stocks or crypto or something.Locking up hundreds fo thousands in in an illiquid piece of brick and mortar if you aren't going to LIVE in it is beyond retarded.
>>58785350>Locking up hundreds fo thousands in in an illiquid piece of brick and mortar if you aren't going to LIVE in it is beyond retarded.i have literally been talking about not only living there but getting PAID to live there
