▲ 400 ▼ What would you have done? (lemmy.world) submitted 1 year ago by The_Picard_Maneuver@lemmy.world to c/microblogmemes@lemmy.world 142 comments fedilink hide all child comments
[+] Ilovethebomb@sh.itjust.works -10 points 1 year ago (1 child) Paying rates, insurance, taxes, and maintenance on an empty property isn't an investment, it's a liability. This is almost certainly a myth, and I don't know why so many people believe it. permalink fedilink source parent hideshow 2 child comments replies: [–] supamanc@lemmy.world 14 points 1 year ago (1 child) Because when you sit on that property for 3 - 5 yrs, doing thenbare minimum to keep it functioning, you can then sell it for 20-30% more. You don't have to anything. permalink fedilink source parent hideshow 2 child comments replies: [–] Ilovethebomb@sh.itjust.works -3 points 1 year ago (2 children) That type of value increase is pretty rare, and by no means guaranteed. And even if it's true, you could make even more money still by tenanting the property. permalink fedilink source parent hideshow 4 child comments replies: [–] Nalivai@discuss.tchncs.de 7 points 1 year ago Not necessarily. Not only you will have to maintain the houses beyond bare minimum, you will have to deal with tenants. But if you just hold it, it will never depreciate in value, you can do all the speculation bullshit on it, taking loans using it as collateral, and billion of other slimy shit they do, and if you're lucky it will increase in value a lot over time, meanwhile you don't need to do shit other than pay some alcoholic to visit it once every three month to see if nothing leaks. permalink fedilink source parent [+] ame@lemmy.frozeninferno.xyz 1 point 1 year ago [deleted] permalink fedilink source parent
[–] supamanc@lemmy.world 14 points 1 year ago (1 child) Because when you sit on that property for 3 - 5 yrs, doing thenbare minimum to keep it functioning, you can then sell it for 20-30% more. You don't have to anything. permalink fedilink source parent hideshow 2 child comments replies: [–] Ilovethebomb@sh.itjust.works -3 points 1 year ago (2 children) That type of value increase is pretty rare, and by no means guaranteed. And even if it's true, you could make even more money still by tenanting the property. permalink fedilink source parent hideshow 4 child comments replies: [–] Nalivai@discuss.tchncs.de 7 points 1 year ago Not necessarily. Not only you will have to maintain the houses beyond bare minimum, you will have to deal with tenants. But if you just hold it, it will never depreciate in value, you can do all the speculation bullshit on it, taking loans using it as collateral, and billion of other slimy shit they do, and if you're lucky it will increase in value a lot over time, meanwhile you don't need to do shit other than pay some alcoholic to visit it once every three month to see if nothing leaks. permalink fedilink source parent [+] ame@lemmy.frozeninferno.xyz 1 point 1 year ago [deleted] permalink fedilink source parent
[–] Ilovethebomb@sh.itjust.works -3 points 1 year ago (2 children) That type of value increase is pretty rare, and by no means guaranteed. And even if it's true, you could make even more money still by tenanting the property. permalink fedilink source parent hideshow 4 child comments replies: [–] Nalivai@discuss.tchncs.de 7 points 1 year ago Not necessarily. Not only you will have to maintain the houses beyond bare minimum, you will have to deal with tenants. But if you just hold it, it will never depreciate in value, you can do all the speculation bullshit on it, taking loans using it as collateral, and billion of other slimy shit they do, and if you're lucky it will increase in value a lot over time, meanwhile you don't need to do shit other than pay some alcoholic to visit it once every three month to see if nothing leaks. permalink fedilink source parent [+] ame@lemmy.frozeninferno.xyz 1 point 1 year ago [deleted] permalink fedilink source parent
[–] Nalivai@discuss.tchncs.de 7 points 1 year ago Not necessarily. Not only you will have to maintain the houses beyond bare minimum, you will have to deal with tenants. But if you just hold it, it will never depreciate in value, you can do all the speculation bullshit on it, taking loans using it as collateral, and billion of other slimy shit they do, and if you're lucky it will increase in value a lot over time, meanwhile you don't need to do shit other than pay some alcoholic to visit it once every three month to see if nothing leaks. permalink fedilink source parent
