Comment on Charging to tour rental properties...

• Kraven_the_Hunter@lemmy.dbzer0.com ⁨1⁩ ⁨month⁩ 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 .

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  • cabb@lemmy.dbzer0.com ⁨1⁩ ⁨month⁩ 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.

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    • Bronzebeard@lemmy.zip ⁨1⁩ ⁨month⁩ ago

      Except they explicitly said “nearly 20%”. Which is blatantly false. Terrible at basic math. And this is why people will remain poor

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• StupidBrotherInLaw@lemmy.world ⁨1⁩ ⁨month⁩ 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.

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