Viewing a single comment thread. View all comments

sneakylyric t1_jd8xam5 wrote

In the process of closing on a 2 family in Boston. Shit is gunna cost us $800k. Monthly payments are going to be $5k. Hopefully we get a tenant fast cuz that shit is steep.

It's in livable condition, but will need a lot of stuff fixed for safety.

For background my gf and I make like $161k combined per year.

At my previous job we would have never been able to qualify. That being said everyone should check out the state's first time home buyers program. Could work for you.

The fact that the American housing market is such a huge part of our economy is stupid, and it's bound to fail again. Yet I'm diving right into it 👀

−2

hairshirtofpurpose t1_jd9wata wrote

Not only are you diving into it, you are making it actively worse by becoming a landlord.

8

sneakylyric t1_jda9a02 wrote

Lol are you saying I specifically shouldn't be landlord, or that landlords shouldn't exist?

The first is mean and the second is true, but is not changing anytime soon.

1

philippos_ii t1_jdam0oc wrote

Yes, housing shouldn’t be a commodity.

1

sneakylyric t1_jdayop4 wrote

I agree. I just want the single family, but I can't afford it without more extra income. I hate that housing is not guaranteed for all. But I'm not going to keep renting and throwing $24k to another landlord every year when I can do it myself and gain equity in a home.

0

zac79 t1_jdah3d6 wrote

Yeah … go after the two family owner-occupant. Nail that fat cat to the wall.

1

Definitelynotcal1gul t1_jd8y5bt wrote

Bro I did about the same thing up here in New Hampshire.

I told myself for 15 years I wouldn't buy at the top of the market again, but fuck, it was either that or stay in the same tiny place for another 15 years.

3

sneakylyric t1_jd948pr wrote

I mean I figured I'm either paying the same in rent and not gaining any equity, or I pay it towards a mortgage and gain equity.

I can always refinance for a lower rate 🤞🏽.

−4