Comment

Comment on Charging to tour rental properties...

Also, it would require every friend to have savings to put down a down payment and also credit good enough to actually qualify. That’s on top of finding 3 or 4 friends you’re willing to live with.

source

Sort:hotnew top

fishpen0@lemmy.world ⁨5⁩ ⁨days⁩ ago
[deleted]
source
- Kraven_the_Hunter@lemmy.dbzer0.com ⁨5⁩ ⁨days⁩ ago
  
  4 people with 5k each can get almost 20% down on a 350k propery
  
  Do you think that 20% of $350k is about $20,000? I feel like I’m missing something important here .
  
  source
  - cabb@lemmy.dbzer0.com ⁨4⁩ ⁨days⁩ ago
    Maybe first-time home buyer programs? But those are like 3% typically so it wouldn’t get you there and that’s before including closing costs, moving costs, and possible repairs.
    
    source
    Bronzebeard@lemmy.zip ⁨4⁩ ⁨days⁩ ago
    Except they explicitly said “nearly 20%”. Which is blatantly false. Terrible at basic math. And this is why people will remain poor
    
    source
- StupidBrotherInLaw@lemmy.world ⁨4⁩ ⁨days⁩ ago
  350,000 x 0.20= 70,000 70,000 / 4 = 17,500 17,500 - 5000 = 12,500
  
  Each person would need 17,500 for a 20% down payment, 12,500 more than the 5000 quote.
  
  source