Here’s how much you need to make to buy this $315,000 Duplex

[@SuperMickey57]

You know the housing market is screwed when a $50,000 dollar cracker box house is selling for $315,000

[@fighterpimp]

What makes the house the price you stated. When like 20 items at the score at over 150 dollars. The price the the material today to buy the house sets the prices of the houses. Then you add for % increase from sellers. They want profit so they will sell for it.

[@gainsfordays5616]

@@fighterpimpIve repaired things in some of these “newly remodeled” dumpster fires. Flippers slap a coat of paint on foreclosed crack house that sold basically nothing a couple years ago and wait till someone stupid enough not to see the issues comes and buys it

[@FigueroaOFFICIAL]

Love these breakdowns

[@betfast-slotchannel3357]

Could you start adding the property location?

[@KHoltzie]

I am locked into a 30 year fixed @ $700 a month for a two-bedroom condo and I couldn’t be happier because it’s all I need in a starter home…some of these housing prices today are just f-king RIDICULOUS! 😅

[@johnnymichael1804]

Condo. Haha. Laughs in Florida 2024.

[@KHoltzie]

@@johnnymichael1804 what’s wrong with condos, they really are nice starter homes- I don’t need the glitz and glamour and allure of a f-king beachfront view to be happy…I contently make do and live well within my means right here in the suburbs brotha!

[@KHoltzie]

@@johnnymichael1804 It’s like the people that live in San Francisco, and say that the Golden Gate Bridge and the scenic views of the beach are worth the cost of living there- meanwhile, the city is a crime and drug infested shit hole run by an asshole Governor…but they’re not gonna tell you that if they’re trying to sell you a property! 😏

[@jazmineyazmin]

looks like a crackhouse

[@oasean]

Thank you. The rule on a multifamily house's estimated rental income-that 75% of it offsets the monthly payment-answers the question most relevant for me.

[@nwinsto602]

Where on earth is this, has to be Cleveland or somewhere like that

[@joelmartinez2278]

Are these tax and insurance figures for the cheapest state in the US????

[@vindevhunta4905]

No wonder there’s so much homeless people…smh

[@bb-1359]

If you only have 11k to put down, you aren’t ready lol

[@queenprincess4life]

Location?

[@johnnymichael1804]

Backwoods of Boise

[@arriarri7904]

Where is this at?

[@anthonyramirez9925]

My offer is 500$, thats more than fair considering all the work I’ll have to put into it

[@sundae4033]

Lmao 3.5% down payment?

[@rhf5448]

That's the 1st time home owners program rate in California nd some other states

[@sundae4033]

@@rhf5448 Sounds nice

[@fighterpimp]

You should need 315,000 to afford that house. So you needed to make 315,000. If you take the loan like he suggest. You need to make about 565,000 to buy the house. So there how much you need to make.

[@StevenDirth]

Assume you make $70k per year, and can save 50% per year ($35k). House prices rise an average of 5% per year. Also assume you are able to raise your income an average of 5% per year. It would take 9 years to maks the $488k to buy this house debt-free.

[@fighterpimp]

@@StevenDirth Yes it would. But reality is, that is what you need to buy the house. You are doing the same with the loan, but over 30 years. I was just setting the real price of that house and how much you would need to make. Which is the price of the house. Getting a loan means you have to make more.

[@tammycaldwell3867]

😂

[@renatotiamzon9855]

F. This!