/biz/ - Business & Finance

>>29514768
it actually makes perfect fucking sense if you had just listened

>>29100921
honestly, if i was just starting out in the market, i dont know what the FUCK i would do.
If you can live with your parents while you fix up a place, thats a big bonus. If you're a min wagie and you don't care where you work, you can take your business anywhere. i would buy WAY away from the city, some good deals under 350k where you can get em with a 25-50k down payment. Your best bet is anywhere you see a house labelled a "contractors dream" or shit where they wont even show you inside.
Buy a steaming shit shack with mold and mildew and dilapidation and rip that shit down while you live with your parents, and put up new drywall and some hardwood floors and clean the ventilation and try and flip it within a couple years.
If you can get a great price on the sell because the house is just fuckin' raped, you can resell for enough money to leverage another purchase with a much less painful mortgage. Thats the key - you may have shitty mortgage payments the first couple years, but if you play the game, you can leverage one purchase into another and cut your costs WAY down. Repeat that a couple times and in 10 years you may consider holding onto a shit property and renting it out.
But fuck, don't look for the next 3 months until real estate supply starts outweighing demand in the area, because right now a 400k shitshack in cobourg is selling for 750 in bids. Its a nightmare out there until the lockdowns disappear.