I'm 26 years old and I recently bought a $950,000 house in one of the prestigious parts of Glendale. At 20%, that's a down payment of 190k.
My income alone from work is a clean $5,800 a month. My passive income from online business is $1,500 a month. Give or take, I alone make almost $7,500 clean a month.
How did I afford such a house? By saving for 4-5 years. I lived with my parents. I never paid rent or any utilities except my own stuff like gas. I didn't have to pay car payments either. Now most of you are probably thinking, "huh privileged kid". Well unfortunately the mentality in America is for young adults to move out and learn to be "independent". In my opinion, moving out after 18 is total bull. You will never save money when you are renting. Most American families, from experience, do not help their kids in this fashion. They will not support a child for years on end for them to save money. Not saying all won't, but the general mentality is America is to boot your kid out at 18. My family's support system is different. We help each out out as much as we can until we get on our feet. Jew's do this also, that is why they are so far ahead and dominating most of the critical sectors of America. I'm not Jewish, but our mentalities are the same to an extent. In order for a young adult to go forward in life in an expensive city like Los Angeles, the parents must support them. There is no exceptions to this rule. You will need some kind of strong support backbone. My parents told me, listen Greg, you don't have to pay anything but you gotta do two things.
1) Go to school and get your degree 2) Save for a down payment.
That is all they wanted from me. My parents aren't rich either. We are middle class.
So essentially, i saved for 5 years for a down payment, my credit was strong, and I had a high income. This is how I bought the house. If i was to live alone, it would've been impossible.
Putting a lot of hope in that asset. Should've waited till your parents died
Jose Thomas
how much is your monthly payment on that? Get ready for the bank to take it away. Bad investment. Sad!
Jaxon Adams
I hope a pack of niggers mug you lmao
Hunter Thompson
Cool story, faggot.
Carson Hall
What line of work are you in? What work did you do during college? What was your degree? Are you now working in the field you got your degree in? What kind of school was it?
I'm genuinely curious and these are relevant to your situation. Would be good for others to know.
Logan Nelson
Houses are usually liabilities if you live in them yourself.
Robert Kelly
which Glendale? California? what a rip off either way
Grayson Cox
what online business makes a passive income ?
Matthew Bennett
i hope you got a variable rate loan and get fuking rektd for trying to brag about being in debt fagget.
Tyler Ortiz
>I had a high income. >This is how I bought the house. Tell me more.
True or not, that is some under rated bait prime for shitposting with.
Adrian Watson
Tactical SAGE spotted. Take cover!
Jack Myers
Fuck off jew bitch.
Adam Morris
yeah 950k is a lot of dough for that house, senpai.
Ayden Moore
Fellow Arizonan, I have a similar situation. I'm going to college on a scholarship, I live with my parents, and they pay my tuition (about 2 grand a year). All of the money that I make working ($2500/month) goes into a fund that I will use for a down-payment on a house. My fund will be at around 100k when I'm done with school (exact amount depends on the market). I'll probably rent cheep for a year or two so that I can boost my down-payment fund to well over 200k. Depending on the housing market 3 years into my career, I will either buy a house or hold of and keep a balanced portfolio until the housing market inevitably shits its self. Feels good.
You probably should have waited for the housing market to crash before buying a 900k house. If the market crashes tomorrow you'll be upside-down, paying the bank interest on a dollar amount that far exceeds the market value of the home.
Dominic Martin
Totally right user
I’ve lived with my parents for 2 years whiling auditing, about to buy a 350k home
Jason Torres
NO ONE GIVES A FUCK
John Murphy
Someone claiming to be well off and not being a gloating faggot on Sup Forums. Now I'm inclined to believe you. Good on you mate, hope it works out for you.
Blake Wood
well it's nice that you had supportive parents, that's how it should be, put dropping almost 7 figures on a residential building is fucking retarded imo. we're in a massive housing bubble.
Caleb Campbell
>Entered three quaters of a million dolalrs worth of debt to own some land >Didn't join the tiny house revolutoin >Will we working like a dog for the next 30 years to pay it off, hopefully the economy doesn't collapse again before then. >Wont be enjoying the low maintainence high life afforded by minimal living.
The Jew fooled you big time.
Isaiah Hughes
>I'm 26 years old and I recently bought a $950,000 house i Are you ready for the debt you saddled yourself with after the inevitable crash in housing values? You'll have to move back into the basement.
Luis Parker
I've invested in nihilism. Just guns and bullets and literature to convince me to just kms.
Andrew Brooks
why not buy a smaller house, outright cash
Then you bank all your money, and in 5 or 7 years, buy that 1 mil house outright?
meh...makes too much sense.
Nope, you would rather owe the bank money and pay twice as much for that house.
or think about life this way
what if life really fucks up and you lose your job. And can't find another one or one that pays as well
You lose your house, car and all that pompousness.
see why it's always better to live beneath your means
Bank your money, don't fall for the jew "mortgage for 20 years" bullshit.
Carter Collins
Happy for you, user. These fags can talk as much shit as they want... nothing feels better than owning some land and your house.
Ian Evans
Pretty based user I especially respect your online business in addition to the regular job. How do you keep yourself going instead of being lazy evenings and weekends saying "oh I've done enough time for leisure"? How do you push forward and work at home? I have an online business but I am always slacking because I'm so "tired" from working and end up just watching youtube or shit posting. Good on you though mate I have tried to explain this to people and even my family years back but they were the fuck off at 18 mate types and now I'm trapped in a high interest mortgage that's effing me in the ass. Know anything about refinancing? My parental units also won't cosign because they're evil boomers.
Jaxson Robinson
this board is full of professionals from the DMV area, this is incredibly mundane and my wife makes as much as you do.
Assuming this is in California, why the hell would you buy a house in Glendale? Sure it's better than anywhere in downtown LA but you still have all the smelly turks to deal with up in Glendale, along with all the other shit that comes with living in LA.
Ryder Richardson
That house is wayyyyy too expensive for you.
Your income isn't big enough to safely live in a million dollar home. If your income gets a cut you'll be fucked.
Dominic Russell
Holy shit that's way too much house for your income.
Logan Sanders
Fuck off daddies money
Lincoln Jackson
Congrats! Tired of winning? Its getting better. Invest your bitcoins in the Trump campain 2020 and get paid back as soon the mining Contract pays out.
its more than that with the changes to itemization having a mortgage is still good but not as good as it was in years past.This will become apparent next tax season.
Dominic Lopez
(OP)
or better yet, take only 20K buy a second hand trailer. One that accordians out. For max room
Live in that for 5 years and you would have enough for buy your mil house cash
Fuck, you are dumb.
I really hope you don't lose your job or life comes crashing down on you.
Better to have bought an ugly glove that you can always wear, than a shiny glove that's borrowed and will be taken back
Isaac Young
this guys is pure common sense
Kayden Evans
That's worth a mil? How many sqft? Property values escape me.
This guy gets it only my pride and the fact that the old man I"m buying it from is an ok sort keeps me from bailing on this shitty mortgage. Stop being rent slaves who cares what people think about you the only people who make it and get rich are the one's who do things different then the school of fish bug men.
Jeremiah Torres
Real human value is immaterial. Learn not to want what you don't need.
Colton Bell
>I do circumcision at Hoag Hospital Do you take home the big tips?
Noah Watson
either way, live life frugally
I watched a documentary when i was a kid about 14
and this guy was talking about two kinds of millionaires
1. that had a huge home (mortgaged), flashy cars (mortgaged) and vacations. But has zero money in the bank 2. the other lives in a plain home, drives a plain car, and takes sensible vacations but banks all his money
Dude said, i would rather be number 2. because if you have money in the bank. No matter what happens to you. you can always get out of a bind the guys that choose number 1, end up homeless or destitute. with no options in life.
I remembered that and use that as my mantra. ALWAYS.
Sebastian Miller
>clean clean >clean
shut the fuck up nigger. post this on /biz/ next time if you wanna larp. you worthless piece of shit.
William Bennett
>be me >go to state school, B.S. >be process chemist >114k starting >190k average house cost in my area >don't need to save for 5 years to live in commiefornia
and I am happy to say i have 1/3 of a million in the bank, on my way to the 700k mark in 5 years. and that's all its' gonna take for me to retire. I plan to retire in a 3rd world country. With good medicine and doctors (aka, cuba, or philipeans ect)
Joshua Bailey
Enjoy your higher tax bracket and property taxes, user.
i could literally live 10 years off my savings, in a 1st world country and live easily 30 years. In a 3rd world. if worst came to worst and i was unemployable 10 to 30 years gives me alot of leeway to find a job
that's the different between having banked my money, vs worrying about what someone else thinks of the house or car I own.
Lincoln Turner
So few of you have any real world experience outside of shit ramblers and apartment complexes to see the most obvious b8. A lender is not going to give you a 760k loan to a single income household less than 100k. Strange financial advice to save, and then immediately introduce a fixed cost of 50%+ of your monthly wage.
Gavin Roberts
>Be me >6'10" >10/10 Chad >15 inch cock >Didn't even go to University >Make 900k a year in business >Make a extra 100k a year from crypto like doge coin >go on Sup Forums everyday >Tell people on Sup Forums how great my life is >I'm being honest guys
Alexander Allen
i think it's kinda retarded and shows how much time some have, to actually wanna post a fictional story about themselves.
really kinda odd. Maybe its' because i am 48 and think its' pretty loserish to have the time to actually do that. meh.
