>>62238262
You did fine. Don't worry about it
And the instant you sell you should stop watching prices. There's literally nothing to gain questioning a decision you can't change

you made the worst mistake of your life

now you are priced out of home ownership

this decision will haunt you until your last breathe

>>62238265
the funny part is he got it for free. He inherited, ruined the inheritance, then sold it.

If I had a kid like this I'd never leave him a house.

>>62238268

You talk shit but you didn't get abused by the single parent who spent their million dollar inheritance in five years. I spent 10 years trying to fix and keep that house afloat. The only thing I did wrong was spend equity that I took out of it, which was a fraction of their losses.

>>62238265

Oh yeah I'm so fucking sure

>>62238262
Its so over for.....ANON!

>>62238272
>The only thing I did wrong was spend equity that I took out of it,
well that and completely removing the floors

some people might consider that a mistake.

also selling it when you could have possibly found a way to keep it.

but you clearly have a number of mental illnesses, so I won't encourage you to go buy another house you can't keep. Particularly since I think you'll probably be adjudicated incompetent at some point soon.

>>62238292

The only way to keep it would be to float the tenants and have like 7K in the bank total with no investments. The sales company I was working for appeared to be a scam, and my hourly job was getting me to break even. So if the sales company did turn out to be a scam and never paid what they owe me, or if tenants didn't stick around, I would be really screwed. I guess I chose to take what I thought was a decent deal before the market supposedly was going to crash. I don't know why the fuck you think I would be adjudicated incompetent though. There's no one around to even try that shit and I would win anyway.

>>62238272
you just had to fix the roof and you would have a house until your last breathe, you just inherited the house i perfectly remember it

now you are realizing that the same house is for sale for way more expensive so you are priced out of the situation you were few weeks ago, literally

yes you should try being a homeowner immediately but knowing you you will just spend the money you got on rent and weed and then in 3-4 years you will cry here asking for a job or a way to transform 5k into 100k

>>62238263
>the instant you sell you should stop watching prices.
True in many cases. Typically prices go up so you'll only feel down. Your next move is much more important. ALL IN XRP KABBBOOOOOOOMMMMMMMMMMMMMMMMMMM

never sell the place where you live if you cant afford to buy another place immediately with the money

OP made the biggest financial mistake of his life

he could have just took a loan and fix the house but no he preferred to run away and become a rentcuck because he is a schizo who needeed cash on his hands so he can spent it on useless shits

>>62238298
I think you got a good deal for it,, and I think selling was the right choice because you're insane and can't own property.

so everything worked out fine.

>>62238299

The roof wasn't the issue, HOA covers that

The problem was the HVAC and all the other shit that made it less comfortable to be in

>>62238299

I don't use drugs

>>62238303

Kill yourself turdworldler

>>62238299

In all seriousness, yes the roof could have been fixed free but I was looking in terms of net worth and money in, money out

Over 30 years with normal growth I'd pay as much in interest and upkeep as the home value. The important nuance is that, because I am wired differently, perhaps insane to normies, I can't work high stress jobs which means I usually break even every month. I can sustain myself but the repairs would be out of reach, unless sales paid off, and it was looking to be a scam

So yes, I guess I could have sold all my investments and other assets and had 7k in the bank after getting some window units and tenants

But I would have to grind in this environment for sales to actually fix the house and invest

And I figured crypto, stocks, PMs and firearms were better investments for me

But some things, like a home you can't really put a price tag on. That's the lesson for me.

>>62238338
>I figured crypto, stocks, PMs and firearms were better investments for me
I assume this is a larp for our entertainment,

but if not,

you should NEVER take financial advice from 4chan
are you fucking stupid?

Move to South Korea and purchase a cozy apartment, sleep with South Korean women

>>62238362

At a certain point I couldn't really differentiate between what was their advice and what was mine

It felt like getting liquid into stocks and crypto would have more upside over the long term, after all, it's always said that stocks out perform real estate

But I guess I wasn't really considering that real estate is a leverage asset, even if you owe on it and needs repairs, your situation can change and you could eventually make the repairs.

So, should I try to buy something smaller now or grind sales until I can get the same thing back again and just get tenants to help out? I think I like living alone better, so I might try to go for something smaller and redeem this timeline by just downsizing and investing the rest.

>>62238368
>it's always said that stocks out perform real estate
yes, but you have to pay for real estate whether you own it or not. Now you're paying for someone else's gains, even if they're less than stocks.

you're not required to own a home. It's not some law or something. Whether you should own or not depends entirely on how long you plan to live there. If you plan to live in one place for the next 15 years then yes, buy a home. Otherwise I wouldn't bother.

>>62238372

The neighbor across the street was a boomer x-marine who was a witness on my felony case when I got into it with another neighbor and he continued to monitor what I was doing day in and day out for the following 6 years.

Also, I was in an interest only HELOC which would go up by 400 when principal kicked in at the end of 2029. I figured by then I can get into a normal mortgage anyway.

I also like to work less if possible and landlording two tenants seemed like another job. Maybe I would have liked it though.

>>62238368
>it's always said that stocks out perform real estate
this is exactly why you shouldn't listen to 4chan

they ignore the fact that you're paying for the real estate WHETHER YOU OWN IT OR NOT.

the only difference is if you own it, you get to keep the gains. 4chan is a bunch of fucking retards, and you're a fucking retard if you don't see this.

>>62238368
>So, should I try to buy something smaller now or grind sales until I can get the same thing back

KEK you are so stupid man
yes grind hard to go back at the situation you were two weeks ago

>>62238373
I don't think you're capable of being a landlord

I don't even think you're capable of keeping a home.

so I support you selling. You weren't going to make it. And buying another house will just put you into another situation you're not smart enough to maintain.

>>62238374

It's also on some normie websites and YouTube channels, saying how liquid investments outperform the games on real estate. And if you think about it, the historical real estate average gains over decades actually ends up costing you the same thing as what the house value is in the future. So you actually are not gaining anything, especially since it is all paper equity until you sell it. So, it's nice to have a good net worth on paper but what's nicer is having your own space.

For reasons stated above, it did not feel like my forever home. However, it was the last property from my side of the family and had sentimental value itself. It was just that the reality of the neighborhood now was such that it did not feel like home in the surrounding area. I also would have two strangers living in my home in order to actually be able to keep it with my regular job. Sales is something I do part-time remotely and is 100% commission and very sporadic income. It would be specifically for fixing the house and investing. What I will probably do now is continue to grind the sales job while I break even from my other job and save up for a down payment and invest a little bit.

>>62238262
Sounds fine to me.

>>62238379
don't try to explain retardese to me

it's just cope for not owning a home

it costs about the same to rent a place as to own it, so the owner is going to come out ahead every time. You're not saving money and investing it, because it's not that much cheaper.

and as long as it costs about the same to own as to rent, IT DOESN'T FUCKING MATTER IF STOCKS DO BETTER THAN REAL ESTATE, BECAUSE YOU CAN'T AFFORD TO BUY THEM.

>>62238383

So you are assuming that home prices will continue to skyrocket with no correction or opportunity to get back in

>>62238384
No, I am saying home prices go up almost as fast as stocks, the main advantage of stocks being compounding gains that homes dont do.

so if you can afford to rent and buy stocks you could just as well afford to own a home and buy stocks.

then you get the gains from both the stocks AND the home. Now you're just getting the gains from stocks minus the gains from the home.

>>62238384
for example if your house goes up 10% and stocks go up 15%, cashing out your equity by selling means you LOSE 10% gains but get 15% gains. So you actually only gained 5% and even then only on the equity you cashed out. Your equity ceases to build, so that 10% never comes back. You're now stuck with 5% gains roughly forever because the money that would have been gaining 10% is now going in your landlord's pocket.

>>62238398
on the other hand if you keep the home and buy stocks you're getting the 10% gains on the house AND the 15% gains on stocks.

meaning owning the home is yielding 25% gains vs. 5% renting.

>>62238398

Sure, I get that but at the same time a home is not a retirement plan. I'm not the kind of person who typically wants to work more than it takes to break even if I have a home. Sure, commission sales could be an upside in the very scarce time that I have to be able to do it. But I had only seven Grand in the bank. No investments at all. Walking with over 20k to split between a few investments and put toward debt and a down payment is a start, and when I get paid my first round of commissions I will be debt free and eligible to buy something about half the size of my previous home. Even with my small amount of regular income from my job. So worst case scenario, I end up in a smaller home breaking even as I would be breaking even in the previous one, just without roommate tenants.

>>62238338
you could have rented the house out, get that refinanced mortgage with extra money to do repairs (explain it to the mortgage broker you hire they figure that out for you), fix it up, and claim all the repairs on your taxable income.

Sure, you also have to declare your rentoids income as your own too, but you can get them to give you cash to avoid declaring that too.

>>62238399
zoomers are too dumb to understand this. And that's fine since most of them can't buy a home anyways.

But OP was handed a fucking home and let it go. A choice so retarded it required listening to 4chan and youtube to pull it off.

>>62238400
No I agree. You're not capable of keeping a home so there's no point in worrying about it. You made the right choice. Not because it makes financial sense, but because you're not smart enough to keep a house.

>>62238402

The problem was, I did not have enough money to make it rentable. It needed a kitchen sink and countertops, kitchen cabinets, drywall, plumbing and electrical work, an entirely new HVAC system, and many other small things to bring it up to modern code. There was no property management company that would have taken it on. And renting it out myself is not something I would want to do in the condition it was in. There would probably be long vacancies between tenants and possible code complaints to the city. If enough people complain they can condemn the house or fine you per day and with only 7,000 in the bank it just didn't seem like I could afford to let it sit unoccupied. I would have to live with one tenant in the extra bedroom and one tenant in the living room in a divided spot.

>>62238407
where do you live that homes have to be brought up to "modern code"?

My house is nowhere near up to code but it doesn't matter because it was built in 1888 and last remodeled in 1985. There's no requirement that it meets modern codes. That would be insane.
what you think every home in the country has to be modified every time the code changes?

>>62238407
>The problem was, I did not have enough money to make it rentable.
you didn't even read my post you fucking retard, i told you a refinance on your mortgage would give you the money to do that. You're like a bot, responding without thinking.

Cope over your bad sell, you won't get another opportunity like this. Throw the remaining money on an index fund and just stay a rentoid, you'll never get anywhere but at least you'll have an 'oh-shit' emergency fund when stuff goes wrong in your life.

>>62238416

There was no way to refinance it. My job and credit don't qualify for a refinance on that amount. I would need at least another year and a half in sales to qualify.

>>62238407
Please tell me you ripped a working HVAC system apart because it wasn't up to code and you thought that mattered.

that would be the icing on this retard cake.

>>62238425

The shit went out on its own. I didn't want to fuck with window units and having SSI boomers in my house.

>>62238432
ah well, I was really hoping you ripped your house apart trying to bring it up to code when it didn't have to be.

whoever bought it probably just repaired the existing remains of the thing so they wouldn't have to worry about the building code.

just put the cash into VTI or some other index fund and move on, I wouldn't want to be a landlord either

>>62238432
fwiw you don't have to bring a building up to modern code to live in it or to rent it.

modern codes only matter if you make structural changes to the building. Meaning you can rent a place that doesn't meet code so long as it meets safety requirements.

none of which matters now since you sold the thing. But if you ever buy another place, don't worry about code violations. They probably don't matter. An inspector will tell you if they need to be fixed. Most code violations are going to be fine because houses don't have to be brought up to code constantly.

>>62238432
also a renter can't report you for a code violation that you're not required to fix. So as long as it's not a safety violation, the building only has to meet code for the year it was built or last structurally modified.

so if I rent my 1888 victorian mansion out, the renter can't report me for not having a roof up to code because the roof was built in 18 fucking 88 and doesn't have to meet modern codes.

the simple fact that the house has stood for 140 years is proof that it's built strong enough even though it doesn't meet code.

>>62238476
The issue with code that I brought up is that is there are big OBVIOUS things like the kitchen that someone can use as ammo, whether it's a butthurt tenant or a neighbor with a grudge, those are the type of major things that attract the kind of attention I didn't need. Could I just install a kitchen sink and leave it floating? That's all I could really afford with my 7k. Otherwise I don't have any emergency funds.

>>62238499
>there are big OBVIOUS things like the kitchen that someone can use as ammo
I'm telling you they can't

it's only a problem if it's a safety violation. Code simply doesn't matter. If it met code when it was built, that's all that matters.

>>62238507

In that case, the main "safety violation" would be the exposed electrical wiring in the panel which was too short and needed a junction box so the copper was not touching wood. That would bring me down to $5500 as an emergency buffer. Could I have floated the whole thing with the tenants until commissions hit? Sure, but I'm only bringing in 15-30k a year in extra money through commissions. It would still take a long time to make any progress whether I'm renting or own the home. I guess I underestimated the impact moving and selling would make mentally and emotionally.

>>62238416
>>62238436

Who the fuck are you anyway, what gives you any credibility to give advice on owning a home and being a landlord? You really sound more like a bitter wagie rentoid. I choose a temporary rental situation so I can grind and reoptimize my finances. You sound like a trust fundie or some wagie nigger who doesn't know shit about the day to day reality of risk taking. Prove to me you know your shit before talking shit.

the person who bought op's house did 20k of repairs and will sell it back for +50% profits in 6 months

>>62238558

Sure, let's say they did 20k. They still paid 146k then. The top end price is 165k right now. And even those have been sitting. I have see comps sitting even longer that put mine at 135k.

>>62238555
>what gives you any credibility to give advice on owning a home and being a landlord?
well I've owned multiple homes and been a landlord

other than that I don't really care if you believe me or not.

I'm here to laugh at a mentally ill person that pretends he inherited a home and then purposefully destroyed it before selling it at a steep discount because he listened to actual retards and trolls on the internet.

thank you for that. I don't know if you're telling the truth or not but given the months of posting you've done I suspect you actually are a crazy person dumb enough to take financial advice from a bunch of retarded racists online, and that's pretty fucking funny.

>>62238555
also checked

also please post face so I can put a likeness to the retard I imagine. We've been talking for months now, I would love to know what you look like. Do you have downs syndrome? FAS? some other syndrome?

>>62238590

It was inherited and I "destroyed" it because it had a bunch of old materials that smelled bad and I wanted to modernize it. When I took equity out in 2018 I spent some time unemployed and ran up the balance. Then COVID happened and I went to jail for 7 months. After that, it was break even mode for most of that time. I didn't get tenants because I didn't want to fuck with it on probation. I don't care about your opinion but the context is for logical purposes. It wasn't as simple as you're portraying it.

>>62238590
he didnt ask for advices anyway

90% of the biztards were telling him to not sell it

he still sold it because it was his stupid plan from the beginning

>>62238621
I told him dozens of times not to sell

he didn't listen. Assuming any of his tale is true.

>>62238625
>>62238621

I can still grind back the same net worth, niggers. It doesn't matter.

>>62238627
getting back in the situation you were a month ago doesn't change the fact that you're retarded and completely incapable of keeping a house.

like I said, you're better off without a house you cannot keep. Be happy with your decision and move on. Go buy some guns and silver or whatever it is paranoid schizophrenics do with their money.

>>62238631

What if I don't give a fuck about the house, but rather the paper net worth? If I grind back the fucking original amount minus repairs it doesn't matter at all. I could sleep on a military cot in the woods and be happy. I don't give a fuck about a house on its own, especially with two old fucks living in it with me. What the fuck is the point if I can have the same net worth either way?

>>62238634
exactly

this is my biggest fear leaving my house to my kids

What if they don't care about the house? I should just sell it and leave them cash so they can blow it on weed and german sports cars

sad really. But you have certainly convinced me to set up a trust with a capable administrator in case my kids turn out to be retarded.

>>62238631
no you cant

because as you said you cant have a job that pays well because you lack self confidence

also whats the point of hustling to go back where you were two weeks ago

selling was a mistake and you are the proof that generationnal wealth can be erased in 3 generations, you are the 3rd one your parents probably did worse than you

im not saying this to make you feel bad, we all make mistakes but use it as a lesson, when things are hard you need to keep fighting and not surrender

>>62238641

I don't give a fuck about sports cars or consoomer shit either. I'm not your tale of advice.

I get why houses are sentimental but the guy who knew my mom before she passed but was also a witness on my felony case just fucked up the entire emotional component. Ruined the vibe of staying and the emotions around it. The emotional aspect seems to be your argument for a house. Assuming you have kids as well but I am single and don't plan to have any.

>>62238643

My family donated 500 million in the 90s and this left the next generation with a million each which was gone in five years. I got a townhome which was bought for 30k and I held it for a decade on minimum wage. I did better than all of them combined so fuck you.

>>62238650
see

thats why i never get jealous when a retard get a big inheritance (not talking about you here)

anyway they will blow it up on stupid things

tell me what happened with your stepfather, i might excuse you if the house is linked to this fucker

>>62238655

I did not have a stepfather, I was caretaker for my mentally ill mother. I don't need your excusing. If you were in my shoes maybe you'd keep fighting and break even, and gamble on commissions sure. Or maybe you'd take one in the hand versus two in the bush.

>>62238657
why did you mortgage the house to begin with?

what have you done with the money

>>62238659

Yes, the house was paid off originally. In 2028 I took an equity loan to consolidate debt. This debt toward my mortgage grew since I had cash on hand but had lost my job. I got caught up in hedonism with my now ex and wasted money floating her friends at a discount as tenants. I also lost money on bad crypto ICOs. The real play would have been to pay off my cards but not my car, find a better job, tell them all to fuck off and buy only BTC. Also to remodel the home right off the bat.

>>62238661

In 2018*

>>62238647
>The emotional aspect seems to be your argument for a house.
then you haven't understood a single word I've said and that's fine.

if you think I own a house for nostalgia reasons when I bought it off a complete stranger you're not understanding anything.

I own a house because I have to pay the same amount whether I rent or own, but if I own I also gain 10% a year in equity.

it's very simple. you're too messed up to understand that, and that's fine.

>>62238661
did you fuck them at least?

or have them to peg you?

or sniff their panties at the very least?

>>62238665

You think homes appreciate 10% a year? I don't know where you are but I'm in the sun belt. In my neighborhood with the townhome I'd see 2-4% a year max. Also if you stay in the home you never realize the gains on paper. At that rate you are also zeroing out your gains with interest, tax, etc.

>>62238671

You only see the gains on paper*

>>62238671
yes so many reasons not to own a home

you were convinced from day one

in fact I doubt you ever owned a home. This is just some stupid larp to promote your belief that owning a home is a bad idea.

next tell me how guns and silver are great investments. How about beans and deens?

fucking tard. You will never afford a house so you pretend they're terrible investments.

>>62238677

You're butthurt and bitter for some reason. I owned the home and I wished it had gone differently. I would love to have kept it. I saw my situation as perhaps more dire than it was at the time and didn't want to take on more risk. I took a deal that provided a logical path, but for whatever reason, probably the nicotine pouches I was using, I signed a contract without fully processing what was going on. And you want to kick me while I'm already feeling like shit. Gee, thanks.

>>62238680
I don't believe you
I have never believed you
because you've been playing this game for almost a year here and I can't believe any real person is this goddamn stupid.

you're like a parody of mental illness. Actually sick people don't even do shit like this.

>>62238682

Dude I had nothing to lose. I don't have kids, I don't have any family to speak of whatsoever. Who the fuck cares. If I can potentially gain more and have more freedom selling, that was my logic. I was also sick and fucking tired of struggling just to maintain the same thing that had become a prison to me after getting swatted and arrested there. Maybe your boomerized brain can't comprehend selling muh home. Muh tangible asset I can live in. But life fucking goes on. What's the worst that will happen, I die? Good the I'll be free of fucking clown world and idiots like you.

>>62238691
I've told you at least 5 times itt you did the right thing
I'm the first fucking comment telling you not to worry about it.

what part of "you shouldn't own a house" are you not getting?

why have you been swatted and arrested

>>62238692

Yet you're calling me stupid for it. You're not saying homeownership isn't suitable for me, you're saying it was stupid to sell it. If what you're saying in this last post is true, then homeownership as a valuable thing (disregarding the numbers) is subjective.

>>62238695
it doesn't matter what I say

you did something and you want to feel good about it. I told you to feel good

But you can't just feel good about your decision, you have to justify it and try to make other people feel bad about doing things differently

your decision was best for you. You shouldn't own a home

other people should own homes and that's fine too

>>62238694
>>62238373

If you read the thread, I got into it with a neighbor.

To elaborate further, this neighbor was a little pussy and told the police I threatened him with a gun. He knew I had firearms so he knew a search warrant would produce them.

>>62238700

I want to own a home mainly because I think it's unfair to everyone that it's an asset class that becomes more unobtainable over time.

Perhaps I need to think about why I would want to own a home, and come to a deeper conclusion about it. Because I have cognitive dissonance with it. I enjoyed doing some of the smaller repairs but I did not want roommates. I did not plan to have kids so I did not need the space.

I wanted to own the home at this moment because it gives a sense of power if I did have roommates (even though I'd subtly despise them and not want them there)

>>62238650
>I got a townhome which was bought for 30k and I held it for a decade on minimum wage
you made minimum wage for a decade? what the fuck are you doing with your life?

i don't know what you tell you, other than you aren't well-suited for home ownership. you can't or won't DIY things and you apparently can't qualify for modest financing on repairs. i still don't understand the latter, because you owed $100k and sold for $130k, meaning you should have qualified for a HELOC.

>>62238704

I rolled my original equity loan (fixed 5%) into a variable rate heloc, in 2019, my nigger. After that, and after jail, my background check prevented me from making decent enough money to take out any new loans, especially mortgages.

>>62238703
>it gives a sense of power if I did have roommates (even though I'd subtly despise them and not want them there)
a flash of self-awareness there, but no empathy detected. Let alone self-preservation.

if you like owning a house then go buy one. If not, don't. It's not a big deal. From what I've learned talking to you I think you're just lonely and if you did buy a house you'd be on here second-guessing yourself for months anyways

>>62238713

Why do you say that about self preservation? You think the roommates sensing I don't like them is a threat to me? I could evict them or defend myself. They have no leverage. The only second guessing would be if I bought a house that was worth half of the old one. Then I'd be frantically trying to invest in liquid assets to make up the difference.

>>62238717
everyone has to sleep sometimes

>>62238719

Yeah they could break my door while I sleep and then, they'd meet Mr. Glock.

>>62238725
room mates and wives can do things to you that you can't defend against. You're not social enough to imagine this

>>62238726

Combine that with the neighbor who I would tell them not to talk to, but who would be a more than willing witness or manipulative force against me, and now you've got the tenants feeding him ammo to use against me in a collectively schemed plot. Maybe I didn't want to give a few free months and wanted them out do I can prepare the space. They're all elderly so they think that's unfair. Suddenly false allegations of violence are thrown around. After all, I was charged once with aggravated assault.

>>62238733
>After all, I was charged once with aggravated assault.
there are bits and pieces of your fabulous tale I actually believe

this is one of them

>>62238725
how do you have a glock if you were convicted of a felony involving a firearm?

this thread reeks like meth
do you live in West Virginia or something

File: 1775688852557121.jpg (88 KB, 786x1024)

88 KB JPG

real estate with work to do is always quite under estimated. So OP lost more than the price of the actually needed repairs, repairs which btw you could have done yourself if you aren't handicaped or mentally challenged or 80 years old or a vagina holder.

Yeah, you done goofed

>>62238268
This. Won't stop gen z from whining about how unfair it is that their parents won't give them their inheritance in advance though.

Yeah so maybe I lost about 10k from the sale realistically. I'm not too worried about that. In due time I will just buy something smaller and lower maintenance.