>In 2021 when I was 22 I made a bunch of random crypto money from dogecoin.>Lived for two years with no job, perma vacation, dropped out of school and bought a condo for $230K>Eventually money ran out>Went back to school, graduated, and now make $100K and living in my condo.Now I'm 27 years old and feel stuck in a cycle of work, consume, repeat. I have student debt, credit card debt, etc. I hate that I got a taste of the rich life and now have to work like everyone else. Should I settle and be grateful that I own property in one of America's biggest cities and slave away paying off this mortgage for the rest of my life? The condo is now worth about $300k, I've paid off about $20k.I feel too young to settle down in this city, and that I'm being held down by this property, but I know I will probably never get such a good interest rate (4.125%), and am too scared to sell. I pay less than renters do for a similar living situation. I think I'm going to rent it out and move abroad next year. picrel I live in a modern skyscraper in this city's downtown.
>>62674411Just visited Chicago for the first time. Sad I didn't try Malort
>>62674411>getting in debt to buy a condoAre you fucking retarded?
>>62674725BRO what an awesome reply!!!! Can i - UGH - on GOD, can i have your autograph dude??? Holy hell OP is so dumb!!!!!! A fucking 4.1% condo, WHAT AN IDIOT!!!! you REALLY called him out here. What stupidity. What a fucking RETARD. Imagine that. Thankfully, there are people like you in this world, who post the best replies on internet forums ... fr fr, where would we be without your advice? I think everyome would be in the gutter. On GOD, no cap, not gonna lie it's like SHEEESH!!! You really showed OP there.... man I'm so jealous, I wish I were you UGHHHH baka I'm just a failure too... just like op...
>>62674798But how do you really feel?
>>62674411> that I own property in one of America's biggest citiesIsn’t $200k condo cheap as fuck?
>i bought a condo>actually i dont own it and only paid off a pittanceSo what exactly did you do with your "bunch of random crypto money"?>>62674798You talk like a fag and your shits all retarded.
>>62674411This is basically what happens to gamblers and lottery winners. You gambled degenerately, then you lived degenerately and spent it all. Unfortunately, a fool and his money are easily parted. no offense intended; almost everyone is a financial fool at that age or younger, myself included. But now you have a $100k job and a condo, so it sounds to me like you're doing pretty okay. >feel stuck in a cycle of welcome to adulthood. You probably just have to live semi-frugally and save+invest to unshackle yourself. Be happy that a piece of shit called 'dogecoin' allowed you to live so degenerately, because the vast majority lost money on that garbage. I don't understand why you think you have to wageslave for the rest of your life for this condo. You're probably just spending too much. Actually, forget 'probably'. you have credit card debt while on 6 figures and paying ultra cheap housing costs. You DEFINITELY have a spending problem. Unless I am missing something here.
>>62674885Fake story. 200k condo is cheap too.
>>62674411>I hate that I got a taste of the rich life and now have to work like everyone else.Most rich people actually keep working btw. Your 2 problems are spending habits and thinking you are a prince. not the condo or yout debt. And like you said you can always just pay off your cc debt and rent the unit. Make a nice little dent in the student debt too. Find a hobby, invest in yourself. Learn to enjoy life instead of wishing for unrealistic things to happen. Blink and you're 37. Whats 1-2 years of frugal living?
>>62674908>Fake story.Mayhaps. It sounds exactly like what a /biz/ degen would get himself into though. Idk about the condo price.
>stuck in a cyclewelcome to life
>>62674925https://www.youtube.com/watch?v=pBZs_Py-1_0
>>62674923But the condos is only 200k, this part doesn’t make sense.
>>62674821Yes, Chicago has shit weather and not as cool as the coasts, so its considerably cheaper to own.>>62674867Lived on the West Coast with family, traveled a bunch up and down California and Hawaii. >>62674885Yeah, kind of ashamed to admit, but I've overspent, gone into debt renovating my condo, making it modern, new light fixtures, expensive furniture, etc. I just wanted to be seen by my peers as successful and tasteful. However, most people don't care, I think it has generated jealousy and intimidation in some. Im one of a few Gen Z I know who owns their home.>>62674935>>62674923Just look at prices for yourself. You can still find condos between $200-$300k in downtown Chicago today. I feel like it will change over the decades as people migrate to the Great Lakes for fresh water and Chicago continues to grow.
>>62675635Fuckin.... fresh water?! What in tarnation...?
>>62674798Shut up zoomer
>>62674411>>62675635So, stupid question time, how big is your mortgage? It matters to everything else.As far as renting the place out, does your condo association even allow it? My mother has a condo, I was thinking of AirBnB'ing it when she croaks, but it turns out the condo association absolutely prohibits all rentals, whether AirBnB or traditional "year at a time" things. I can understand doing that since they don't want the problems shit-tier renters can cause, and especially not the problems that random-lets-throw-a-giant-drug-party scum-tier renters can cause, but that basically means we gotta dump the place as soon as she croaks because nobody in the family wants to live in it.Even if you're allowed to rent, do you really want to deal with it? Unless you can charge enough in rent to keep ahead of the mortgage AND the condo association fees AND the taxes AND paying a property management company to deal with tenant shit, you might be kinda stuck, because living abroad means you can't come and unclog the sink every time your tenant clogs the U-trap with grease and hair.
>>62675727Say what you will about the Great Lakes, they're a damn near inexhaustable supply of water. Unlike the aquifers out in almost the entire western half of the U.S that have been drained practically dry to [checks notes] grow rice in the middle of deserts.
>>62675727>>62675748Forgot to mention, I think it's Idaho that has some paper mills that have earliest-priority water rights to the aquifers there, so that when the pulp mills want to spin up their well pumps, every other water-rights holder in the entire aquifer region has to shut off their well pumps. Under western-USA water rights laws, the first settlers own those rights forever, no matter how fucking retardedly wasteful it is to run a pulp mill in the middle of a fucking desert.If it isn't Idaho it's another of the very arid western states. FFS in Colorado you can't even collect the rain off your roof. Oregon used to not allow that too, but all the people desperate for water for their gardens finally got the legislature to change the laws granting them an exception, maybe five years ago or so.
oh for FUCKS sake nobody is buying up downtown chicago property for the impending water crisis of 2140
FRESH WATER FALLS FROM THE SKY EVERY SINGLE DAY
Jesus fucking CHRIST i cannot imagine a single thing more irrelevant to ops situation than THE PRESENCE OF FRESH WATER this thread has devolved into absolute insanity
>>62674411If you know v, she's a great lay but not a good longer term investment
>>62675778Acid rain.
>>62674411>bought a condo>slave away paying off this mortgage>I hate that I got a taste of the rich life and now have to work like everyone elseKek. Thanks for the laugh, OP.
>>62675771>>62675778>>62675787Water, Mandrake. Water is the source of all life. Seven tenths of this earth's surface is water. Why, you realize that seventy percent of you is water. And as human beings, you and I need fresh, pure water to replenish our precious bodily fluids.
>>62674411too rich too early,will cost you,dearly.
How the hell do you avoid the groid in chimpcongo? Whenever I fly though there I'm disgusted.
>>62674420Any big/warehouse liquor store will have it. I love it but it's not for most people.
>>62675854Chocolate rain
>>62674411>I make $100k/year and have an expensive condo in a rich city Dude... how and why are you even possibly complaining right now? Im 28, have no career, no college education, degree, or any valuable skills. I do DoorDash for a living buddy. It could always be worse.
>>62676944>Dude... how and why are you even possibly complaining right now?
Congrats OP you bought in one of the worst underperforming real estate markets in the country. A 230k condo, so imma guess 1 bed/1bath, you pay 6-7k in property taxes, and another 500-700 in hoa fees. Yeah that 100k gets eaten up quick don't it?I am an ex-chicago fag, place sucks, yeah job market is okay, but that state gets worse every year. >but muh waterYeah that's classic chicago fag cope for paying out the ass in taxes in an underperforming real estate market. Eventually at some point in the next 100 years people in Cali will migrate to Chicago and drive your abysmal real estate prices higher.Chicago is dying just like Detroit. My suggestion would be to get a job in another state that isn't mired in public pension debt. Even if that means taking less of a comp, because higher comps don't mean shit if the quality of life goes down.
>>62674411>bought a condo for $230K>paying off this mortgage for the rest of my life? The condo is now worth about $300k, I've paid off about $20k.YOU DIDN'T BUY ANYTHING
>>62676820Chicongo area resident here, we avoid them by staying out of Chicongo itself.>>62678277>My suggestion would be to get a job in another state that isn't mired in public pension debt.Very valid issue. Illinois gives solid-gold parachutes to anyone who works for the government in this state. This includes firefighters, police, teachers, aldermen, janitors, pothole fillers (hah, like they even do anything), just about anyone you can think of with a direct tie to state/local governments. Furthermore, they've enshrined the guaranteed payouts of these pensions in the state constitution.The end result is a debt trap that would have bankrupted the state a decade or even two decades ago, except for the slight problem that there is no such thing in federal law as "state bankruptcy". Municipalities can declare bankruptcy, but -- fun fact -- there is no provision in the bankruptcy code for states to do so.Illinois, California, Connecticut, probably most of the "blue" states really, are completely fucked for the foreseeable future. I don't doubt that some day enough communist scumbags like AOC will make it into Congress that they'll create a state bankruptcy provision to fuck the bondholders over, but until then you're gonna get taxed to death in any of these states.I'm stuck here until my mother croaks. Thirty minutes after she does, I'll be looking for summer houses in both Argentina and Finland.
>>62676859Yeah I went into a liquor store for it but it was just a $35 bottle, not any shooters.
>>62675743Yeah, I've come to the realization that I can't move out of the country without substantial savings in the case I get a shit tenant.>>62675992Could be worse. I could still be living with my parents, or homeless.>>62678277Yeah, I didn't really buy it to make a shit ton of money and flip the place. It was more to live in a strategic location that was cheap with a fixed mortgage. My neighborhood is completely walkable, and I haven't owned a car for four years, since I lived in California. I remember having to shell out thousands randomly for my cars, and now I just scoot around to work and get groceries on an $800 scooter. I hear how other wagies have to spend money on auto insurance, gas, and maintenance and I'm grateful I haven't done that in years, BECAUSE I bought in a walkable well planned city.>>62678396Yeah, I guess not. But no landlord gonna raise muh rent.
>>62674411This makes no sense you made money on crypto but bought with a mortgage? What did you do make 20k and thought you were rich or something?!
>>62680073I made about $200k and an extra $50k by using 3commas bots to do DCA trading for me. I lived for two years with no job, paying rent in coastal Orange County CA, had like two cars, went on vacation to San Francisco, Santa Barbara, Santa Cruz, Las Vegas, and Maui. Helped pay for and support my mother in her time of need.>>62674885Also thank you, anon I've been using my depression and laziness as an excuse for my poor spending habits. Going to open a HYSA tomorrow, and start putting away 25% of my earnings away.
>>62674411rent it out
desu at 230k or 300k your costs shouldnt be that high. by the time your early 30s you'll make enough you wont sweat it
>>62680068>no landlord gonna raise muh rent
>>62680081Still makes no sense like wtf why did you by an apartment? You were close to being close go making it and decided to go full nigger rich. I was unemployed for 2 years living off my gains and renting too but knew I'd not made it yet with twice what you had.. you are either a retarded demoralisation larp or just a retard.
>>62675982>Water, Mandrake. Water is the source of all life. Seven tenths of this earth's surface is water. Why, you realize that seventy percent of you is water. And as human beings, you and I need fresh, pure water to replenish our precious bodily fluids.
>>62680081>, and start putting away 25% of my earnings away.most young people dont realize you really need to save 25% of your earnings from day 1 for your own retirement. Very very few actually do this. Then if you have a kid you need to save 1000/mo from the day they are born, if you want to put them through college.
>>62678939Anyone living and working in IL keeps their head in the sand on this issue. Public pension debt per capita is 50k per person for the state, then in Chicago it's another 50k. Essentially they need to collect 100k from everyone in that city to make due on their promises to pay public workers. The city itself has gone down hill since I left in 2017. I lived there from 2010-2017 and it used to be fun to go out and the nightlife was good. Ever since BLM and beetljuice took over the entire city is shit and unsafe. The northside used to be okay, but now it is just as bad imo. All that being said if I had to live in an overtaxed shitty blue state run by commies why tf would I pick a state in the middle of the midwest? At least California is the most beautiful state in terms of outdoors and northeast you have the ocean and a bunch of sprawling metropolises. Chicago you go 2 hours outside the city and it is just basedbean and corn. There really isn't anywhere fun to go, muh Wisconsin Dells or Michigan.
>>62674411I bought a house in cash and thought I'd made it. Now I'm always dealing with some bullshit. Owning sucks unironically I should have just sold all my shit and been a drifter. The things you own own you.
>>62681396If I could afford California, I would probably live there too. However, there are few to no walkable areas in California. That was a huge factor for me in choosing Chicago. You don't understand how much money and freedom I have gained from not having to purchase, store, and maintain an automobile. The few walkable areas in CA are super fucking expensive, like San Francisco or little luxurious beach towns where all the shops are bullshit boutiques anyway. No real urban fabric where families own local businesses.(2) Nowhere in California worth living is as cheap as Chicago. The only places worth living are coastal towns and maybe 1 hour drive within from the coast. Anything else is desert meth country and you might as well live in Arizona, Nevada, or Texas.And Chicago is the only place worth living in the midwest. Everything else is peasant-tier.
If u want a taste of that fuck-you-rich-money feeling, try Doge-1 (both on RH & Sol,This shit is gonna moon like crazy). Doge was the 2019 cycle; this one is the IRL moon cycle.
