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The Something Awful Forums > Discussion > Debate & Discussion > Rent control and housing
 
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Ytlaya
Nov 13, 2005

Enigma89 posted:

The clever ones are. The others are putting are investing in...? I don't even know what is actually a profitable investment anymore for the middle class.

You buy a 4-plex as an owner-user with a low interest loan (FHA). You use the tenants to pay off your mortgage and you live in one of the units for free.

You can even move out because as far as I can tell in my experience no one ever really checks if you live there. :shrug: I know several people who have done this and they have basically used the government to subsidize their initial real estate investment. There is real no need to buy an actual 'home' with your FHA loan. You are allowed to by a multi-unit project.

Also to sweeten the deal you are allowed (in California) to sell the building and if you do an 'exchange' within 30 days of the sale you can take the money you got from your recent sale and put it into a bigger project tax free.

The middle class (if you're actually talking about it in terms of "people who have the median amount of wealth" can't afford to make significant investments of this nature. I'm pretty sure my family is above the 50th percentile, and there's no way in hell we could ever afford to buy another condo/home as an investment.

* # ¿ Oct 18, 2014 02:45
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# ¿ May 9, 2024 12:12
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The Something Awful Forums > Discussion > Debate & Discussion > Rent control and housing