Hi Sup Forums I am an 18 year old senior in HS...

Hi Sup Forums I am an 18 year old senior in HS. My grandpa is about to die and he said to me user your the only one in our family who is not a faggot so I'm giving you my house. The house is a 4 bedroom three bathroom house it's paid off and costs about 750K. My question to you is what do I do when I graduate I now have a home for my future wife and kids. I want to become a cop will that sustain my family? I live in Southern California house is pic related

Do you have money ? You can start your own company

no I have no money and I'm only going to a community college for two years to get a AA in criminal justice to become a cop

I don't know much about cops sustainablity, but I don't think you'll be able to take care of your family, or at least not in a luxurious way

Make damn sure your Grandfather has his will up to date.

Nothing like a death to bring out the complete shitheads in your family.

That's not really a question. But remember that you'll have to pay property taxes on the house, which can be high. But if you're working and don't have to pay rent it shouldn't be a problem. Also keep in mind money for maintenance of the house.

Depending on where you live your annual property tax could be anywhere from 2,000 up to 5-6,000.

That is literally the first thing you should find out.

If by chance you can't afford to keep it, as in you can't afford the property tax you could sell it for quick cash, bank that and when you have a steady job that pays well reinvest it and buy a different house. You're in a unique position, most spend 50% of their lives paying a mortgage. think carefully and BE CAREFUL of people wanting to take advantage of you. Good luck OP.

I don't nee luxury I have a house that's completely paid for and I'm going to be making about 45K per year I just want to make sure my kids have clothes on their back and have plenty of food to eat

already did he asked for my help making it my dad is happy but my brothers are going to be pissed how should I break it to them?

Let the lawyers break it to them, it's their job

unfortunately my grandpa sais I cant sell it he wants my kids though live there because that house was his legacy property taxes will be about 4.5 grand but I can handle that

Property tax on a house like that in SoCal is going to be tens of thousands a year.

why would your grandpa give house to you only and not brothers?

Just say " gramps gave me the house"

If it is down in his will, and he is still in full control of his finances and faculties, your brothers cannot do a damn thing.

Then learn how to budget your money, basic finance, adult shit. Don't use Sup Forums as a blueprint retard

thanks anons if you have anymore advice for me it would be greatly appreciated

Chances are, if you don't have a job that pays decent right now, you won't be able to afford to live there long

because my brothers are ten plus years older than me and are dicks to my grandpa I love my gramps and always help him out

Property tax for an 18 year old will be CRUSHING, make sure you have a plan. Also consider a home warranty, for just 500-700 bucks a year they will cover repairs to things like the AC system and broken pipes, repairs that could go way way into the thousands. GET A HOME WARRANTY. Only stupid people don't have them.

Also, make sure it's in the will and make sure there are no stipulations like you can't sell the house because there's a good chance you might have to based on property tax.

cool that's what I will say

First bit of advice - which I am going to guess you already know.

Don't get some unfuckable harpy pregnant, put a ring on her , and lose your gramps house.

Remember, women are whores.Lazy whores who will take half your shit- then make you sell the house so she gets her half.

Plus child support.

well I'm going to be a cop almost immediately because I'm doing something similar to a rotc program so I will have full health benefits and I will be making 6 grand a month

I also have a 2015 chevy Tahoe I could sell for about 50-60 k

That's what cops START at? Or is that the average salary of cops in your area?

honor him and keep the house faggot

Because earlier you said you'll be making $45k as a cop. $6k a month =/= $45k a year

start I also get bumped from 45k to 47 after a year plus I am going to get a AA in criminal justice after two years which will add 10K to my annual salary

will do user

Throw a party the day after he passes and invite hookers and tie your brothers to a lawn chair and let them watch

That still doesn't add up to $6k a month

Lol, kid listen up. Life aint fair, you may think you just got a break but pay close attention to what I have to say.

Make sure everything is in writing WITH signature NOTARIZED. Make sure there are no clauses that say you can not sell the house because you will have to.

Sell the house for maximum value, we are in a sellers market you have all the power. Get a legitimate evaluation from a reputable appraiser to do it.

After you sell it, bank the 750,000 or whatever you get. Buy a nice car for around 15-20K When you get a decent job making 30-50K a year buy a 250-300K house. Save the rest of that money for financial security.

Enjoy your financial freedom, consider investing some of the rest. Don't blow it one girls or drugs you will be sorry.

the reason I said 6 k is because my mom died and I get 2k per month as long as I go to school

used Chevy Tahoe 60k lol

I would love to do that but the will says I am never allowed to sell the house only give it to my wife/kids my grandpa did this because he wants his legacy to live on

...

AA doesn't add anything to a civil servant. You go through academy and get annual raises and Max at ur position at 5 years

I don't think that is legally possible, once the house is in your name you are legally allowed to do what you will with it.

Property taxes suck ass.
>here pay for something you already own

you might be looking at the wrong county police department I have a lot of things ive done over the passed few years too bump up my salary. Like my mom dyeing isn't part of my salary but I get 2k per month as long as I'm going to school because of it so that's why I said 6 k

well be that as it may I'm not going to do that to my grandpa even if he is dead he gave me a gift and I'm going to accept it

OP posts 5-6 bedroom house
>it's 4 bedroom house guys lol
>750K house in Socal, property tax only 4.5K
>18 years old grandpa screws everyone else
>sell my used Tahoe for 60K

Lol I love the fantasy world you're painting OP.

You're honorable and committed
I ike that

ya it sounds dumb I might be high but I have been given a house and being in high school still I have not been taught how to do taxes that's why I'm asking for your guy's help

thanks user

Property taxes are a necessity to pay for schools and public infrastructure/civic municipalities. Sales tax barely puts a dent in that stuff.

How much are you going to be honoring him when the county takes your house away because you can't afford property tax? The wealth that you get from selling it, the ability to continue a family within the folds of financial security is far far superior to having some asshole show up and lock you out of it bro.

I am going to have to figure it out I already found people I can rent a room to while om living in it

Renting it is a great idea, find good tenants and use a good property manager to handle everything for you. GET A GOD DAMN HOME WARRANTY IF YOU DON'T YOU'RE A FUCKING MORON.

>asking for sound financial planning advice from idiots that beat off to trap pictures all day.

The property tax is public record.

You will have ~$2500 a month making 45k, if you take 5 exemptions, maybe a bit more.

Daycare for 2 kids, ~$2000 monthly, so your wife will have to be stay at home Mom.

All in all, is trying to have a family on single guy pay.

If you aren't already married, make sure you protect the house from divorce with a prenup. Just tell her the house is a family thing and it must remain so. If she can't deal, she's probably trying to mug you for it, so kick her to the curb.

My advice: stay single for a bit. After a few years, a few ranks/raises, maybe get married. Don't marry a chick that is looking for a free ride. You two can both work a few years and save so you have a nest egg to help raise kids. In the mean time, maybe let out a couple rooms to boarders for extra cash.

Make sure you are paying taxes, home owners insurance, and if there is one, hoa dues.

Going to thanks user

Going to thanks user
Anon I'm not going to get into a relationship for at least two years when I have a some cash and a degree (I'm a Christian virgin if you guys wanted to know) and your forgetting about the money I'm getting from just showing up to school

This thread is dumb from the beginning...

You are never going to get the house. Assuming everything else is real, do you know how much taxes you will pay for a $750,000 home? You have no money now, so you're going to pull it from your ass? Best bet is selling it, putting money on retirement fund, live within your means only, compound interests, keep living within your means, in 15 years you'd be retiring.

Well I have 8 grand because my mom died 4months ago so and that's only going to rise I'm not completely broke

Would anyone like to tell me how I can realistically keep the house making 6K perm month

OP you need to listen to me very carefully AND post this on the finance subreddit

>"reddit"

I know, but there are actual professionals there ready to give you real advice on this shit.

You have two options:

1.) Keep the house
2.) Sell the house

If the house is COMPLETELY paid off and looking like that, worth 750k, you could easily sell it on the market to a high-income family for 800-850k.

You can use that money to invest, buy land, buy corporations, or buy apartments/condos etc., so you can make money while NOT working.

I want to keep the paid off house

Right, but you're asking Sup Forums. At least ask reddit, where some people that know what they're talking about hang around sometimes.

And you're missing the point, you have a potential $800k investment into a business, stocks, making your own business, buying land, buying lease areas, etc. etc.

Do you make enough working at McDonalds to pay the taxes and utilities?
If not, sell.

Get a fucking job because you still have to pay property tax and utilities, also go to university and get a political science degree and be a cop with an education

If you don't make enough to pay taxes, you pretty much can't keep it. You can try negotiating for a better rate but that's nearly impossible. Your choices are to work very hard in order to keep it, or to sell it and have a much easier time in life; AND the potential to never really work a day in your life again, if you put the money in the right places.

Really fags im the first

This guy gets it, investment the house OR! Put it up for rent