Home Sells for $1,975,000($14,112 Total Payment). Offered For Rent at $7950/mo

[OliverHeldens]

$14,112 per month payment. Being rented at $7950/mo. Rentcels hitting Home Runs day after day!

Cost

https://www.redfin.com/CA/Orinda/6-Valencia-Rd-94563/home/1029776

[rollerball]

links to nothing, silencespeaks

[dogkrack]

tard

[OliverHeldens]

links to nothing, silencespeaks

LAST SOLD ON JAN 4, 2021 FOR $1,975,000 6 Valencia Rd,
ORINDA, CA 94563 $2,464,741
Redfin Estimate
5
Beds
3
Baths
2,796
Sq Ft

[MM_]

in canada they have 200 year mortgages. so i imagine they are netting profit

[TryingMen]

It might be $8k today. In 10 years that rent will be $14k with mortgage not changing. In 20 years that rent will be $20k.

Net result is 10 years at $8k (loss of 6k per month for home owner); 10 years at $14k (no gain or loss); 10 years at $20k ($6k gain per month)..... all totaling to a free house for the homeowner after 30 years.

LMAO at rentcels.

[OliverHeldens]

It might be $8k today. In 10 years that rent will be $14k with mortgage not changing. In 20 years that rent will be $20k.

Net result is 10 years at $8k (loss of 6k per month for home owner); 10 years at $14k (no gain or loss); 10 years at $20k ($6k gain per month)..... all totaling to a free house for the homeowner after 30 years.

LMAO at rentcels.

You do realize that $6000 per month for 10 years is $720,000? And this doesn't take into account any appreciation in the investments you'd put that money into......

[TryingMen]

You do realize that $6000 per month for 10 years is $720,000? And this doesn't take into account any appreciation in the investments you'd put that money into......

$720k vs. $2 mil house for free

Before you talk about the appreciation of your $720k, the house will also appreciate in value. Even if your investments appreciated at a higher rate you've got quite a gap to make up you dumb fucking rentcel. Just go rope already

[wincel]

I love how plebs think real estate is a srs "investment" and not a giant moneyhole. U should get one decent house for yourself and put the rest in stocks. Look at NVDA's returns. Fuking unreal.

[OliverHeldens]

I love how plebs think real estate is a srs "investment" and not a giant moneyhole. U should get one decent house for yourself and put the rest in stocks. Look at NVDA's returns. Fuking unreal.

First time I’ve agreed with you

[wincel]

First time I’ve agreed with you

Something always breaks, especially if you try to make real estate a srs investment and deal with multiple properties. It just isn't worth the headache.

[Woofienugget]

It might be $8k today. In 10 years that rent will be $14k with mortgage not changing. In 20 years that rent will be $20k.

Net result is 10 years at $8k (loss of 6k per month for home owner); 10 years at $14k (no gain or loss); 10 years at $20k ($6k gain per month)..... all totaling to a free house for the homeowner after 30 years.

LMAO at rentcels.

Yes, because people in 20 years will happily pay 20k in rent per month. I guess they will be making a million dollars a year and still renting.

You also forgot about taxes and maintenance, which are typically 1% a year each - so after 30 years you're paying 1.2 million for those as well.

Never thought my first post on the new misc would be about the idiocy of home buying, but here we are.

[wincel]

Yes, because people in 20 years will happily pay 20k in rent per month. I guess they will be making a million dollars a year and still renting.

You also forgot about taxes and maintenance, which are typically 1% a year each - so after 30 years you're paying 1.2 million for those as well.

Never thought my first post on the new misc would be about the idiocy of home buying, but here we are.

It's not always idiotic. It's really a mixed thing. It depends on a lot of factors.

[JayDubs]

Rather live in my car than pay $7K in rent. I could live in a tent and burn dollar bills for heat and cooking and still come out ahead.

[r32gojirra]

Do you consider US$2m to be a lot of money?

[OffWhiteBrah]

literally cherry picking