Do you think it's possible to get a house with only making $13.25?

[Anonymous]

[Anonymous]

well let's see

someone check my math because i'm not an expert in this

full time plus 10 hours of overtime per week would be around $3,100 per month

one-third of that, the most you're supposed to spend on housing (really it should be one-quarter), would be around $1,000

this would allow you to buy a $170,000 house with a 20% down payment, but don't forget utilities which cost a fortune

so it's doable, but in this market you wouldn't get much, and your property value can only go down. better to wait for a housing market crash and grab something at its lowest price and then let it grown in value over the years

you could try a program such as HUD, but i don't know how those work

[Jabberjaw]

Not in any meaningful period of time if you're using just the 13.25/hour income stream.

What you could do is find a property that has a rent of say 1200 a month. Make an agreement with someone who owns it to both rent to you, as well as allowing you to put it on AirBnB for $130 a night that you will manage and that you'll pay $200 for utilities.

Fill that place out for even 15 days out of the month that'll bring you an extra $550 a month after paying rent and utilities to the owner. $2500 profit if you fill it out 30 days. And realistically you're not spending much time on it at all.

Using a side gig like that plus your Salary could quickly become a way for you to buy a home. Could also take a risk on getting a loan for a 2-3 bedroom home. AirBnB out the rooms and use that to pay the rent. Or just get roommates.

You just need to have enough credit. You could also do mobile units in relatively okay areas.

[Emilyis]

you are dreaming. You have to buy furniture for an airbnb, you have to pay the utilities. and then you are still living somewhere else and having to pay your bills. With the economy now how do you even know that anyone would want to rent it as an airbnb? Makes no sense to me.

[Jabberjaw]

@Emilyis

I outright said find someone who has a pre furnished place that both agrees to rent it out to you and agrees to you using it as an airbnb. And accepts a $200 fee for utilities. The majority of your complaints were covered in what I said.

Additionally. People are still filling out airbnbs. You can verify this for yourself. Login to the app and try and book a room this month anywhere you want to go.

a lot of places are fully booked for weeks. If you don't understand how that's all good. But don't just discount the idea. Just look into it for yourself. You can do way better than 13.25/hr.

Even Uber drivers make 70k a year on average. That's about $35/hour doing full time. Like objectively today basically no one should work for less than $20/hr. McDonald's, Starbucks, Whole Foods and so on pay $15

That agreement only requires a down payment, the rest which is covered within a few nights of airbnb service.

[Adronicus]

Yes. My mother only gets social security, makes $1060 a month. I manage her money for her cause she's horrible with finances. I bought a old fixer upper house in Illinois for her, sold at an auction for $4,000. I spent around 5k fixing it up & she now owns her first home ever. Location is key with pricing ; there's a lot of neglected properties that can be bought very cheap & fixed up.

[Emilyis]

NO! You have to put at least 20 percent down, Your credit score is probably way too low which means you will have a high interest rate. Look for a better paying job. If you rent an apartment, Your rent would probably be even more than a house mortgage, Wait another year or so to buy a house.

[Reaper1985]

if your looking for move in ready or even a fixer upper it'll be very tough to find something in your price range. last few years caused the housing market and building material costs to nearly double in many places.

[OddBeMe]

No, get more skills. Better job. Save up for a closing costs. Make sure you read about incidental costs to owning a house.

It’s a great investment. But requires $$. And for some reason, the AC units always go out in the height of summer….

[slatyb]

Seems doubtful. That's $25,000 per year. But it's possible if you can find a house for say $75,000.

[Jamie05rhs]

Not in this current market, no. Wait until the next crash, then buy immediately afterwards when people are picking up the pieces.

[888theGreat]

Are you black, Gay,, an illegal , or Female? If so, then yes. The Democrats will make tax payers bail you out.

[Charliefretz329]

A starter house if you’re very careful with your money. But it will probably be in a less than desired location.

[Crankor]

Def not. You would need to make around 1000 a week to afford one on your own

[ManHater]

No, I would not recommend it. Owning a house I would say you need to make more money.

[Anonymous]

Not unless you inherit a chunk somewhere or leave like a pauper

[Taylor_C]

You wouldn't be able to get a mortgage.

[EmmaMary]

Regrettably not a hope in hells chance... Sorry.

[xHoneyxBeex]

In the current housing market? Not a chance.

[saffoler]

Not with BlackRock cornering the market on homes.

[exitseven]

honestly I do not see how you can do this.

[CloudMassacre]

You might manage some ramshackle hovel with that

[DWornock]

All houses cost more than $13.25.

[Guardian45]

Absolutely! What kind of house where?

[Anonymous]

I wouldn't even consider it.

[JimCrow]

Depends, I have a killer treehouse for sale.

[Smashingdoozy]

No. Absolutely not.

[Agape93]

Not a good one

[Redstang88]

Nope

[jahaims]

Not in America

[joeldalton]

Nope.

[Intothevoid666]

Absolutely no way.

[jimmy2]

Not now

[Anonymous]

Not in todays world.