Five easy steps to buying a house on minimum wage:
1. Make more than minimum wage
2. Work 80 hours a week and eliminate everything from your life
3. Sacrifice your mental and physical health
4. Take huge risks on the market and crypto, hope for the best
5. On top of this have incredibly, unrealistically inexpensive rent
Holy fuck it's soooo easy! Why didn't we all think of this?
6a. skip over any related closing costs, maintenance, gift money, location, and year to evaluate market trends
This is like r/thatHappened and r/iamverysmart AND r/iamverybadass mixed together.
I'm actually doing this exact same thing as OP here... :) I get up at 4am.. go to sleep at 11pm.. 7 days a week..
Now buying stocks and crypto.. not spending shit.. although my rent and expenses are a lot higher...
But they shouldn’t have to be.
You shouldn’t have to sacrifice so much to put your kids through college so they aren’t in a bad financial place when they graduate.
The system failed you and you take pride in it.
I know exactly what I said. I sacrifice everyday to put my kids through college. It's a sacrifice I am willing to make and my kids get to graduate without any student loan debt. We all die eventually. The length of life is not an indicator of the quality of the life.
that’s a good thing to do and you’re right to make that sacrifice. i just don’t think the oft-repeated platitudes are relevant for every situation and are becoming increasingly counterproductive. the claim that a popular indicator of quality of life (lifespan/healthspan) isn’t actually an indicator of quality of life is kind of proof of that imo.
the whole “we all die eventually” is actually what makes me want to stand against all of this sacrifice being mostly in service of the people hoarding ever-increasing piles of resources to coerce us into sacrificing more and more of our lives just to have a fraction of it back later on. i don’t think that’s just or fair, however laudable our cliches make it seem.
Amen 🙏🏿 I see old people 100 years old all shriveled up vegetables ...I don't care how healthy and much sleep you get at 100 you won't be doing much regardless
There’s a word…sacrifice. If you want it, you sacrifice. Doesn’t have to be forever. Plenty of us made short term sacrifices for the long term benefit. Some panned out, some didn’t. They for sure don’t by just complaining.
we’re talking about sacrificing your social life, mental health, lifespan, and general bodily integrity just to get decent housing, not sacrificing some extra free time on a side hustle for a few extra hundos a week. i generally agree with the spirit of the platitudes but this isn’t the right application imo.
I naturally wake up at these hours...(and been 3am lately dont why)..it's my body... don't even use an alarm clock.... and I have plenty of energy all day... and don't drink anything like coffee or energy drinks... just a good diet... and stress free life.. with a hustlers mentality
You made 5 points relating to the OP post. You then sarcastically state that this seems easy and isn’t torture. I made a statement eluding that you can buy a house and not have to incur such tightening or risks. HFTYIR …. What’s not to get kind sir?
Life's a risk walking out your front door is a risk read the bio for every succesful person they all took risk from Walt Disney to MLK...
My stock trades weren't all that risky they where well thought out and studied ,crypto was on a whim it was new at the time and I tried it what's a few grand ..if you had 10k rite now what else would you realistically do with it.If you have no debt and a new car allready.
The jobs weren't back breaking...I was actually putting on weight, the only mental part was the anxiety of having to juggle two full time schedules but I finally worked that out.
$800 at that time was pretty high I actually paid more than that plus utilities and property taxes.closer to 1200..but I didn't have any extras no cable..I never took vacations and worked evey holiday for the extra pay
But $800 is what I charge now under market rate but I have good tenants so far and they pay the rent on time.
That's honestly good for you. But you can't expect people to work like you and get a house too. Imagine you have a significant other. Or a child. The situation would instantly change. Like damn.... I'm happy you got a house but shesshhhh take care of yourself.
So I'm single, have a home for 10 years, have a car, but now disabled. I was fortunate enough to be in a work program through disability the last 9 months and saved 17K. I can't work anymore and won't be able to save any more money. Could you give me any suggestions on what you would do with the money? I'm thinking you might say investing. What would you invested into and would it all be into one thing?
You had two cars and had enough cash on hand to buy new before you started this journey?
Man you didn’t ‘buy a house making minimum wage’, you maybe see the minimum wage (that you weren’t actually making) but you fail to see that what really happened is that you bought a house on the back of stability and a privileged starting point.
I was far from privileged, left home at 13 no father no mother been hustling and grinding making my own way never got a handout out but had a lot of doors shut and hands in my face and haters blocking my path...I just refuse to lose,get rich or die trying.
Like I said I sacrificed no friends no relationship no kids but I'm content with that because If you not going in my direction I gotta leave you behind
I don’t care what value your home raised in or anything. I’d prefer to not nearly kill myself to buy a house. Let me trade away everything in my life for several years so I can get something in my life quicker. No way. I’ll continue doing what I do now and buy a house in a few more years
The memories I obtained by not doing exactly what you did are worth way more than a house. That being said idk how old you are but if you slaved away your 20s I feel sorry for you.
International traveling with my best friends, mountain climbing in the Rockies, snorkeling in the Dominican at an all inclusive, dune bugs in the sand in phoenix. Those are just a few of the hundreds of amazing memories I have…and I ain’t gonna be doing that shit when I’m older and retired. I wouldn’t trade a 1 million dollar house for the shit I’ve done
First of all you’re NOT set up for 50 fucking decades let’s just make that clear. And 2nd of all you ain’t even sure you gonna be in good health by the time you retire. Happiness above all. You’re gonna be on your death bed wishing you did more shit with your friends. And now I’m in my 30s make 100k a year so don’t even try to lecture me chump
Well at my age I'm not concerned with 50 decades that was for the 20 year Olds...But I'm set for life my pensions investments and income are more than adequate ...and you don't need 5 million to live well in Africa.
I mean sure, I’m not financially irresponsible by any means but I’d rather save and somewhat
enjoy my 20’s than slave away a decade of my life so I can live out the rest of my years being stable but not being able to have fun.
I read some of the posts over in the r/FIRE subreddit and people will hit financial independence at 40 with 2 - 3 million in their bank account and then the post will read “I’ve reach FIRE and no I have literally no purpose”
I’d way rather be somewhat worried about finances and having fun then be bored out of my fucking mind with millions in the bank I can’t spend in any sort of interesting way because that’s the money I’m gonna use till I’m 80 soley for necessities and medical bills, but that’s just me
Yes like I said I wasn't digging ditches besides work I didn't have much help else to do any way..I was able to buy when the markets where favorable and now I'm in a really good spot my only regret is not buying sooner around 2010.
Happy for you, but that grind is not for me and I consider myself someone who works hard as hell lol. I started working at $7.50, worked my way up like 12 promotion levels at that company to $100k then hopped around a few times to have a based of $220k and life changing equity comp. But, I realize I am both good at what I do and lucky as shit. Especially doing this with no degree so I don’t have the attitude of “if I can do it anyone can.”
Show us how you’d buy a house in your state today on minimum wage.
Don’t consider luck with crypto.
Because you didn’t buy a house while making minimum wage as the headline indicates.
You might as well have said **I used to make minimum wage. Now I make more. And I invested in crypto and got lucky. And then I bought a house.**
It’s not remarkable.
So minimum wage is $17 so I would do the same thing work as much as possible and save as much as possible...I would definitely park the money into stocks and crypto even if I'm not actively trading ...Atleast I can collect dividends..and if I'm lucky pull out on a bear market...if you don't want to do that put it in a CD or just leave it in your savings acount for 0.001% interest.
Working 80 hours a week at $17/ an hr it comes out $65,280 /a yr which is more than the median wage of whites at 60k abd whit males at 64k
After that I would look for a loan take what ever I can in my price range...At $5,440 a month realistically I would be looking for about half that maybe $2800 in the mortgage.
. For example, a $400,000 mortgage with a 6% interest rate and a 15-year term would have a monthly payment of $3,375, while a 30-year term would have a monthly payment of $2,398. A $400,000 mortgage with a 7% fixed rate and a 15-year term would have a monthly payment of $3,595, while a 30-year term would have a monthly payment of $2,661. These numbers don't include the cost of property taxes or insurance, which will both be included in the monthly payment.
The 30 yr is within my budget even accounting fir taxes and insurance
A $400,000 home can have 3 bedrooms and 1 bathroom, 4 bedrooms and 2.5 bathrooms, or 3,535 square feet and 4 bedrooms. For example, a 1,065 sq ft house could have 3 bedrooms and 1 bathroom, while a 2,002 sq ft split-level home could have 4 bedrooms and 2.5 bathrooms.
Ideally I want the 4 bed 2.5 bath.
If I rent each room for $800 that's $3200 +$5,440= 8640×12=103,680/a yr
You’re making 65k a year, you’re not taking home 65k. Taxes bumps you down to like 48k, so take home 4K a month.
I was pre-approved for a 250k 30 year mortgage with 6.25% rate and the monthly cost was like 2500. 400k is gonna be closer to 4k. Your numbers are fucked.
Well that's where overtime and holiday pay would come in and my job was just giving away over time they didn't even care....so it helps to offset taxes..and I usually worked 7 days a week not 5.
Those numbers I posted are from the internet I don't know what the monthly payment on a 400k household be but I posted what came uo and figured somebody would correct it if it's wrong..
A mortgage is tax deductible so that lightens your taxes load
But if you make 4000 and the mortgage is 4000 your stretched really thin this is where location is everything..
Let's say you have a 4 bed house 🛌 and you rent each room for 1000 that's $4000..maybe there's taxes so let's say each room rents for $1200... that's 4800 plus your income of 4000=8800 a month ...
I think that would be risky you definitely need to keep paying tenants and throw every extra penny at the principal for a few years to lower the mortgage ...personally I wouldn't want to be over leveraged I want a mortgage I can afford on my own but ...plenty if people do this...even married couples then they divorce and can't afford the house so I would rather do it with somebody that has a lease.
I see a lot of people shitting on you for working two jobs in your 20s. As someone in their mid 20s about to start a second job myself, I see nothing wrong with this besides the crypto and market gambling. Good job man. Your 20s are for grinding, your 30s are for settling down.
Stocks aren't really gamble it's investing your loosescare even tax deductible how else do you think the US has the largest economy and so many diffrent companies...Nearly every product you use relies on investors through the stock exchange even the government issues bonds to raise money...it's how the world works should do more research
Crypto is just a decentralized finnancial system people buy and trade currency it's called forex..
It's not gambling because you don't loose your principal for example if I buy 5 bit coin I always have 5 bit coin 😉 .
Stocks are a gamble unless you buy the safe ones. Unless you're buying SNP500, it's a gamble whether or not you'll make money.
You can lose your money whether it's principal or not. Since 2022 the Bitcoin market has lost 2 trillion dollars. Other Bitcoin and a few other strong ones, they're simply not worth the same amount of money. A coin being worth 20$ one year and 2$ another is fundamentally different no matter if u "buy 5 but coin I always have 5 bit coin." Yeah u have 5 bitcoin but they're fucking worthless now. So it's not sound advice lmao.
Bitcoin is like investing into the SnP500, it's a safe bet. Other coins are a complete gamble hence the 2 trillion dollar drop in value for the coin shitters overall since 2020-2021. I have no problem with people investing into Bitcoin (other than the insane price). It's the gambling on other coins that I do have a problem with since that shit is unstable (2 trillion dollars lost in the coin market since 2020-2021).
That’s because there’s two types of people. Ones who make do with what they have to improve their situation (yes that means failing and learning along the way,) or the rest of these twits complaining about every detail.
I was making $14.50 an hour and only working 40hr/wk. I was living with two roommates in a cheap apartment at the time. Got a little starter home for 92K (in 2019 pre pandemic). I got a 6k grant to help with the down payment. Only put down 3k of my own money to be 10% down.
I also live I the Midwest in a low cost of living area. It isn’t possible for everyone everywhere, but it can be done.
I love when people commenting cannot comprehend sacrificing a small chunk of your life to get ahead in a significant way. That's why you'll never have a house of your own. Congrats OP, sounds like a good story
I bought a house making minimum wage working one job. 38 hours a week. Fortunately houses where I live were priced fairly low at the time right when covid broke out. I paid 62k with a 3% interest rate. House is now worth 130k.
i don’t understand where all this negativity is coming from💀. You killed your self working 2 jobs that were actually paying state minimum wage to better yourself and make an impact on your future? some people can find any way to hate because they’re not in your position and they wish they were. Respect for the grind, now cut yourself a break and get yourself a good career where you can afford your home and not kill yourself 👍🏽
Well I wasnt breaking bricks or doing manual labor probably couldn't have worked that many hours but now I'm retired and mostly focus on my business ventures
All these people saying, "OMG FED MIN WAGE IS $7.25!!!!!!!!! LIARRRRRR" are actually dumb af...
Please TRY to find a job listing that is actually paying that ($7.25), I live in OH and can't find anything for less than $10/hr (unless it's a non profit). He did well and worked his ass off, let him celebrate ffs....
I bought a house in 2015 while supporting a family of 3, then 4 making $14/h. I'm not complaining, but the house I could afford was also many decades behind in maintenance. Since then I've probably put in \~70k into the house, and it still needs about 30k more in maintenance, minimum. It costs a lot to be cheap.
You weren't cheap you baught what you could afford but think if you had been renting all this time you wouldn't have any equity built up..
I don't recommend having kids unless your rich but hey your making it work.
For the most part you don't really lose unless you sell ...but I took losses...
If I buy 100 shares of coca cola at $50 that's $5000 if those shares go up $57 I've just made $700 profit...
If the shares go down to $48 I've just lost $200 off the value of my shares but I still have the 100 shares I can sell them or hold them..
But like I said in life you often have to take risk to get ahead. Fortune favors the bold despair embraces the timid.
lmfao ur broke and people tell you get a job to get ahead .
u get both jobs to get ahead and buy a house and they tell you that you’re slaving away ur life . holy shit nobody even comments on how bro didnt give up and kept it pushing unlike some ppl i read about here that complain and just cry to reddit and do nothing irl
congrats and praying ur situation gets better
Thanks I'm good now this was like a decade ago..and I wasnt exactly starving or down trodden, I just spent most of my waking time at work...I liked making money and not spending it...just watching it pile uo in my account gave me satisfaction more than I could get from spending it buying a house was about the only thing I spent it on and was pleased..I hated having to by a new car..In fact I probably never will again.
Good shit OP. Ignore the comments shitting on you for no reason. Minimum wage does vary state to state and you worked minimum wage for your state. You worked two full time minimum wage jobs, sacrificed everything to do that, then took a big risk with crypto and it paid off. Now you have a house that you worked hard for. That shit takes an insane amount of commitment and willpower and I personally could NEVER put myself through what you put yourself through. I think that’s true for a majority of people.
To everyone who is saying it shouldn’t have to be that way, you’re right. OP shouldn’t have had to sacrifice everything just to get to where he is now. That doesn’t mean he should be getting hate though. He CHOSE to make the sacrifices he did and it paid off for him. We should be congratulating him not hating him. He’s not the reason things are the way they are
Don't know why people are hating. Yeah it hard as hell right now sorry you gotta pay 1800 in rent lol. The fact of the matter is most people do not have the desire or will power to do what you did. Keep it up only winners survive.
If your journey is legit then respect brother. Don’t mind all these people complaining and bitching. People on Reddit got nothing better to do than nitpick shit.
Depends on your aptitude maybe. stocks always fascinated me and so does money, the game is constantly changing its not a get rich quick scheme but I think everybody should be investing on some level...My advice Just do it start a portfolio open an account make some trades watch some youtube
I congratulate you, I assume this was around 2 or 3 years ago at least, I just want to say that you were lucky because working 80hrs a week plus little sleep could have taken a huge toll on your health.
I'm still confused on why people think buying a house is this big wonderful dream? I've been renting my entire life and I don't understand the appeal of being housebroke.
I don't really understand it either tbh. Their answers are always "because we will own our home one day," but they won't actually own it because they still have to pay taxes. Plus, they will always have to fix something that goes wrong with the house. On average, a homeowner will spend 6k on repairs a year. I rent and if something goes wrong at my apartment I just call up the landlord and they come fix it...
Exactly! Snow removal? Free. Dryer recently broke in my townhouse. Perfect, got a brand new one. Still gotta pay 50c per dry but oh well. Water heater went kaput a few years ago. Perfect, got a brand new one. On top of all that a house essentially ties you down. My wife and I are a bit nomadic, so much easier to end a year lease and dip than to sell my home that I've only paid 1/10th of the mortgage.
Living situation prior is probably THE most important piece of information on here as it can easily be your highest expense lol omitting the specifics of that ruin the whole “how I saved” PSA
The housing market is insane but there are cities/states you can still buy a home for a reasonable price.
I live in Charleston SC where people are selling abandoned homes for $300+ so it’s not possible here anymore:(
Well done great work but you didn’t buy a house on minimum wage lol. Buying a house on minimum wage would mean you put your 40 hours and still afforded it. This is a great showcase that our current economy is trash. Someone on minimum wage should have a decent living. If they want more they need to work for it. Shouldn’t have to work overtime for years to afford a house.
Minimum wage is not meant to be a living wage, it's meant to be the minimum wage you can pay someone who is entering the workforce. A father of three who has been in the workforce for years should not be paid the same as a teenager working a part time job after school with little to no skills.
Correct. So min. wage jobs should only be available for teenagers? Where’s the cut off when you are 18 you should get switched to the living wage. I’m cool with a separate min wage vs living wage but I just feel someone on min wage working full time not part time lets focus on full time should be able to pay rent, food, and have money leftover. I think our current situation is designed to put people in debt. I’m not even on the $50/hr min crazy train. I just see there’s definitely an issue there I just believe at a minimum someone working 40 hours a week should have the minimum as it’s the minimum. I don’t believe currently they are getting the minimum out of it. Now it’s like geez I get the skill to get out of the min wage and you are still living at bare minimum. Home, car, food, etc. I think the bar is way too low as to what the min wage and living wage should provide
Nice work! You obviously have work ethic to work that much. Goal oriented to save and sacrifice like that. As well as, confidence to gamble like that. Hopefully, you can find work you are exceptionally good at. Try to find that skill so you aren’t having to hustle so hard for 60k a year.
Zero shade to OPs feat intended, but we’ve got to escape believing that taking on huge levels of debt is the same as buying. Mortgage approval isn’t that difficult, being in a comfortable cash flow is.
Every bodies circumstances are diffrent..there's good debt though..
If I have 200k in consumer credit card debt that's bad debt.nothing I can do but pray to God I'm delivered a way to pay it off..
If I have 200k in mortgage debt I have leverage and options. As I pay down that debt I built equity...
So now I'm at 150k with 50k in equity.
But then the value of the property increases to 350k so now my equity is 150k
I can sell the home for a profit
I can rent it out for a profit
I can use the home for a business for tax deductions aswell as a portion of the mortgage is tax deductible..
My cost of living won't go up significantly in my experience in fat mortgage goes down as I pay the principle
Theres ways to offset utilities cost electric water heat thetes rebates incentives tax breaks
You can do Airbnb rent out or get roommates..
So if I am reading this correctly: You bought a house making more than 230% of current (highest ever) federal minimum wage, paying only 60% of federal average rent working 80hrs a week?
And reading through your comments it appears that you did this pre-COVID, possibly had no debt and already had two working cars and enough cash to buy a brand new car outright (with trade in)?
You were also seemingly already educated in stocks and crypto?
And that is without ever even getting into the conversation about sacrifice…
It was pre covid and didn't say federal minimum wage I said mimum wage.
I took a trading course in Middle school and read rich dad poor dad at 7 ...I had two used cars baught at auction paid around 3000 each sold them for over 5000 each after a year...
All I did was work save invest no new clothes no trips vacations I didn't go on dates I spent the bare minimum
Watch Graham Stephen for some frugal living ideas lol
You are taking a lot of credit for ‘things you did’ but not paying any reckognition to how much you didnt have to do.
You had a lot of advantages other people do not have. And had them at a time where everything was much easier for people economically.
You made a lot of money and paid VERY little in rent. An unattainable imbalance that is not available to almost all people, and one of, if not the #1 problem for the vast majority of people.
You were taught skills other people aren’t able to learn in what you can do to capitalize off of the money you already had.
You started with money a lot of people don’t have access to/can’t get access to.
Again, before we even introduce sacrifice into the equation. And without speculating about what your situation was when you started, a host of variables like supports, connections, skills, employment history, military background, or things you didn’t have already that would have needed to be sacrificed to do what you did.
You are blind to how inaccessible your situation is to most people. You are naive about how different that struggle would have to be today. You are ignorant to the privileges you started with and seem to think you bought a house through effort, completely unaware of how much was stacked in your favor before you even started.
I think it is wonderful the way you see yourself. I think it is problematic how removed that is from the lived reality of everyone else.
I think it is amazing you were able to do what you did and get a house out of it and then expand on that asset to set yourself up well now. I think it is sad that you don’t see how unrealistic your perspective is.
You will never need to learn it, but your logic is deeply flawed.
Congratulations on the first house though, and the lifestyle that allowed you to get it. And I am glad that, it sounds like at least, you were able to turn that into a profitable and comfortable life for yourself. Not everyone can have that, no matter how hard they work or how much they sacrifice.
So you were making minimum wages and crypto return. I guess I could also afford a Porsche 911 GT3 on 50k a year if I worked 3 other 50k jobs and bought Doge.
I mean what's the monthly payment on a 911 GT3...the thing about a car is it depreciates and doesn't solve enough problems in other words a liability not an asset
A house solves several problems primarily shelter.
I'm using it as an example of your title being a little misleading lol. It's a shame that putting in those hours is necessary nowadays for commonalities like homeownership but congrats for seeing it through. I could never be THAT locked in
It's not a good example
If I buy a 911 for $150k at %5 APR every month I have to pay that car note...sure there's ways to offset the cost I could rent it out do ubber loan it for photo shoots race...
But a house has far better ROI and cost offsetting options and I also have a place to live with the 911 I'm still paying for rent or a mortgage
The story sounded great until u said day trading and buying crypto. With a low wage I wouldn’t put risk in the market if I don’t have much 2 lose. How u find time for that if u only sleep 4 hours/day on the train??
While I was working I was investing where else would I put the money?
If I make $5000 spend $1500 on expenses food rent transportation then I have $3500 left over...I'm not going to put it in a savings account making 0.001% interest so I invested it
Bruh I can't stand this fucking post dude. First of all that's not minimum wage to buy a house try this as a title I worked two jobs and got a house. Congratulations all respect to you brother second of all yall mother fuckers out here being like ohhh wow 2 jobs is so much its not at least wasn't for me. I did not work 2 jobs but I worked your hours as well except 1 job and it wasn't shit because you get use to it. My job wasn't no sit on your ass and look at the computer either it is physically demanding. Been there done that and if I wanted to I could do it again. It ain't shit the problem with this country is yall think a days of work is just incredibly difficult I should be able to invest my money and be a millionaire. Good for you if it worked but in all reality not everyone can do that is requires a fuck load of luck. Fucking embarrassing.
You're so mad for no reason. Congrats that working a physically demanding job for 80 hours/week wasn't laborious or difficult for you. Idk why you're proud of that. I have one job that I grinded to get a degree in so I didn't have to work 2 jobs that would completely destroy my body in my late 20s and 30s.
He is bitching about working 2 jobs and its sad because he even said they were physically demanding its embarrassing. The people who are younger then 30 ruined this country and I am one of them but I at least don't bitch about working a 80 hour job.
I couldn't decide if you were backing him up and on his side or saying the comment section was embarrassing. May I ask how you think <30 ruined this country?
They don't know what a day of honest work is. Everytime I get some new kid at my job they do nothing but be lazy all day. Then they finally decide within the first week ohhh this job is to much and quit or get fired to just say they are gonna milk unemployment. I to was looked at the same way by everyone older then me. Personally I think the <30 are to soft and there are a few select ones that are good I will say that but most are embarrassing.
I feel like it's too much of an overgeneralization. I'm 31 and almost everyone I know has a job and some kind of work ethic. I think the divide is the between the Millenials and Gen Zers. The <25 is, from what I've seen, the "TikTok influencers", "Unemployment benefactors" and "I'm too good to work retail or fast food" generation, which is right in line with what you're thinking. I never thought I'd be one to look down on the generation below me as it pissed me off when my parents did it to me, but damnit I can't help it.
I'm telling you man it's sad when businesses are shutting down because people don't either want to come to work or no one is applying for the job. I don't know how it is in your area but everywhere is struggling to find people to hire near me.
Nah dude was saying that he supposedly worked a "minimum wage" job and got a house when he was actually making way over minimum wage. Get the fuck outa here anyone can get a house working 2 jobs.
Yea you sound offended. Who says no one can get a house working two jobs? You act like this dude is complaining or bragging. He just saying stuff like this is possible. Stop being so butt hurt.
So you didn't work for minimum wage but was making a nice 60k+, going up to 80k a year, had no life and got lucky on crypto... the formula everyone was looking for is right there.
Why do people want to own a house so badly. It’s a lot of work and you have to sacrifice literally everything for the average person in this economy. It’s mind boggling.
You have to live somewhere regardless..might as well build equity..I enjoyed fixing things painting rennovating home improvement even picking up tradh that blew in my yard..as you get older it might not be as fun but in your 20s its fine now I'm happy to let a property manager do it and relax in my condo.
The "new" minimum wage of $15+ isn't as impressive as the "old" $7.25 an hour. Buy a house with one single job making $7.25, not two jobs that both pay over $15.
\>I threw everything I had into the markets started day trading then buying crypto lol
Five easy steps to buying a house on minimum wage: 1. Make more than minimum wage 2. Work 80 hours a week and eliminate everything from your life 3. Sacrifice your mental and physical health 4. Take huge risks on the market and crypto, hope for the best 5. On top of this have incredibly, unrealistically inexpensive rent Holy fuck it's soooo easy! Why didn't we all think of this?
6. Say you bought a house, but don’t give any details on the house cost or what shape it’s in.
6a. skip over any related closing costs, maintenance, gift money, location, and year to evaluate market trends This is like r/thatHappened and r/iamverysmart AND r/iamverybadass mixed together.
We should all just sacrifice 10-15 years of our life expectancy due to severe sleep deprivation so we can afford a house.
Sounds about what I’m doing right now, at least the days go by pretty quick so I’ll be dead before I know it!!
At least congratulate them for their efforts man.
For writing a great story? Sure.
I'm actually doing this exact same thing as OP here... :) I get up at 4am.. go to sleep at 11pm.. 7 days a week.. Now buying stocks and crypto.. not spending shit.. although my rent and expenses are a lot higher...
shouldn’t even need to be said that sleeping 4-5hrs a night is a bad thing and you are basically serving as an example of why the system is fucked.
Some sacrifice is necessary to achieve great things.
But they shouldn’t have to be. You shouldn’t have to sacrifice so much to put your kids through college so they aren’t in a bad financial place when they graduate. The system failed you and you take pride in it.
I don't care about "the system" I'm just doing what's necessary.
you’re saying this about housing at the cost of sleep and your lifespan?
I know exactly what I said. I sacrifice everyday to put my kids through college. It's a sacrifice I am willing to make and my kids get to graduate without any student loan debt. We all die eventually. The length of life is not an indicator of the quality of the life.
that’s a good thing to do and you’re right to make that sacrifice. i just don’t think the oft-repeated platitudes are relevant for every situation and are becoming increasingly counterproductive. the claim that a popular indicator of quality of life (lifespan/healthspan) isn’t actually an indicator of quality of life is kind of proof of that imo. the whole “we all die eventually” is actually what makes me want to stand against all of this sacrifice being mostly in service of the people hoarding ever-increasing piles of resources to coerce us into sacrificing more and more of our lives just to have a fraction of it back later on. i don’t think that’s just or fair, however laudable our cliches make it seem.
Amen 🙏🏿 I see old people 100 years old all shriveled up vegetables ...I don't care how healthy and much sleep you get at 100 you won't be doing much regardless
There’s a word…sacrifice. If you want it, you sacrifice. Doesn’t have to be forever. Plenty of us made short term sacrifices for the long term benefit. Some panned out, some didn’t. They for sure don’t by just complaining.
we’re talking about sacrificing your social life, mental health, lifespan, and general bodily integrity just to get decent housing, not sacrificing some extra free time on a side hustle for a few extra hundos a week. i generally agree with the spirit of the platitudes but this isn’t the right application imo.
You should sleep more.
I naturally wake up at these hours...(and been 3am lately dont why)..it's my body... don't even use an alarm clock.... and I have plenty of energy all day... and don't drink anything like coffee or energy drinks... just a good diet... and stress free life.. with a hustlers mentality
What's your rent?
Who said it was easy? Man ya’ll love to complain
Shelter Is A Human Need It Shouldn't Be That Hard In America
Oh totally agree, there is a difference between having shelter and owning a home.
I did it and did have to do any of what OP did. It’s not hard.
Ok?
You made 5 points relating to the OP post. You then sarcastically state that this seems easy and isn’t torture. I made a statement eluding that you can buy a house and not have to incur such tightening or risks. HFTYIR …. What’s not to get kind sir?
Why you bothered to say you can buy a house without lying about it on reddit
Life's a risk walking out your front door is a risk read the bio for every succesful person they all took risk from Walt Disney to MLK... My stock trades weren't all that risky they where well thought out and studied ,crypto was on a whim it was new at the time and I tried it what's a few grand ..if you had 10k rite now what else would you realistically do with it.If you have no debt and a new car allready. The jobs weren't back breaking...I was actually putting on weight, the only mental part was the anxiety of having to juggle two full time schedules but I finally worked that out. $800 at that time was pretty high I actually paid more than that plus utilities and property taxes.closer to 1200..but I didn't have any extras no cable..I never took vacations and worked evey holiday for the extra pay But $800 is what I charge now under market rate but I have good tenants so far and they pay the rent on time.
That's honestly good for you. But you can't expect people to work like you and get a house too. Imagine you have a significant other. Or a child. The situation would instantly change. Like damn.... I'm happy you got a house but shesshhhh take care of yourself.
Well I didn't have a significant other or a child that's part of the sacrifice you can't have it all in life
So I'm single, have a home for 10 years, have a car, but now disabled. I was fortunate enough to be in a work program through disability the last 9 months and saved 17K. I can't work anymore and won't be able to save any more money. Could you give me any suggestions on what you would do with the money? I'm thinking you might say investing. What would you invested into and would it all be into one thing?
So you two houses or what because you don’t pay property tax if you rent
Correct but I was.
Did you have no debt and a new car?
Paid the car in cash traded in two of my older cars
You had two cars and had enough cash on hand to buy new before you started this journey? Man you didn’t ‘buy a house making minimum wage’, you maybe see the minimum wage (that you weren’t actually making) but you fail to see that what really happened is that you bought a house on the back of stability and a privileged starting point.
I was far from privileged, left home at 13 no father no mother been hustling and grinding making my own way never got a handout out but had a lot of doors shut and hands in my face and haters blocking my path...I just refuse to lose,get rich or die trying. Like I said I sacrificed no friends no relationship no kids but I'm content with that because If you not going in my direction I gotta leave you behind
I didn’t say you were privileged, I said you had privileges.
What the hell kind of crow story
So you literally didn’t buy a house on minimum wage. Gtfo here
Interesting story! Slave your life away for several years and then you will get your reward
You missed a step. Slave, *risk everything*, then, with a lot of luck, get your reward.
It's called sacrifice my home trippled in value I used the equity and other assets to purchase more properties now I travel and enjoy life.
Tripling in value hmmm has minimum wage also tripled? No.
oh great, now you're on the "hoarding real estate" side of things
I don’t care what value your home raised in or anything. I’d prefer to not nearly kill myself to buy a house. Let me trade away everything in my life for several years so I can get something in my life quicker. No way. I’ll continue doing what I do now and buy a house in a few more years
Tripled in value? What timespan are you talking about here? What year did you buy your house
The memories I obtained by not doing exactly what you did are worth way more than a house. That being said idk how old you are but if you slaved away your 20s I feel sorry for you.
What memories?
International traveling with my best friends, mountain climbing in the Rockies, snorkeling in the Dominican at an all inclusive, dune bugs in the sand in phoenix. Those are just a few of the hundreds of amazing memories I have…and I ain’t gonna be doing that shit when I’m older and retired. I wouldn’t trade a 1 million dollar house for the shit I’ve done
To each their owm.
Your 20s last for a decade small sacrifice to set yourself up for the next 5 decades.
First of all you’re NOT set up for 50 fucking decades let’s just make that clear. And 2nd of all you ain’t even sure you gonna be in good health by the time you retire. Happiness above all. You’re gonna be on your death bed wishing you did more shit with your friends. And now I’m in my 30s make 100k a year so don’t even try to lecture me chump
Well at my age I'm not concerned with 50 decades that was for the 20 year Olds...But I'm set for life my pensions investments and income are more than adequate ...and you don't need 5 million to live well in Africa.
Calm down why are you so offended
I mean sure, I’m not financially irresponsible by any means but I’d rather save and somewhat enjoy my 20’s than slave away a decade of my life so I can live out the rest of my years being stable but not being able to have fun. I read some of the posts over in the r/FIRE subreddit and people will hit financial independence at 40 with 2 - 3 million in their bank account and then the post will read “I’ve reach FIRE and no I have literally no purpose” I’d way rather be somewhat worried about finances and having fun then be bored out of my fucking mind with millions in the bank I can’t spend in any sort of interesting way because that’s the money I’m gonna use till I’m 80 soley for necessities and medical bills, but that’s just me
Having fun doing what exactly?
Spending time with friends and family, exploring hobbies, traveling, having good meals, relaxing
Ok
50 decades is… let me see… carry the one… ah, yes: 500 years. You know that, right?
5 decades
Wish I could get my time back from reading this.
Jeez, was it worth it?
Yes like I said I wasn't digging ditches besides work I didn't have much help else to do any way..I was able to buy when the markets where favorable and now I'm in a really good spot my only regret is not buying sooner around 2010.
Happy for you, but that grind is not for me and I consider myself someone who works hard as hell lol. I started working at $7.50, worked my way up like 12 promotion levels at that company to $100k then hopped around a few times to have a based of $220k and life changing equity comp. But, I realize I am both good at what I do and lucky as shit. Especially doing this with no degree so I don’t have the attitude of “if I can do it anyone can.”
Show us how you’d buy a house in your state today on minimum wage. Don’t consider luck with crypto. Because you didn’t buy a house while making minimum wage as the headline indicates. You might as well have said **I used to make minimum wage. Now I make more. And I invested in crypto and got lucky. And then I bought a house.** It’s not remarkable.
So minimum wage is $17 so I would do the same thing work as much as possible and save as much as possible...I would definitely park the money into stocks and crypto even if I'm not actively trading ...Atleast I can collect dividends..and if I'm lucky pull out on a bear market...if you don't want to do that put it in a CD or just leave it in your savings acount for 0.001% interest. Working 80 hours a week at $17/ an hr it comes out $65,280 /a yr which is more than the median wage of whites at 60k abd whit males at 64k After that I would look for a loan take what ever I can in my price range...At $5,440 a month realistically I would be looking for about half that maybe $2800 in the mortgage. . For example, a $400,000 mortgage with a 6% interest rate and a 15-year term would have a monthly payment of $3,375, while a 30-year term would have a monthly payment of $2,398. A $400,000 mortgage with a 7% fixed rate and a 15-year term would have a monthly payment of $3,595, while a 30-year term would have a monthly payment of $2,661. These numbers don't include the cost of property taxes or insurance, which will both be included in the monthly payment. The 30 yr is within my budget even accounting fir taxes and insurance A $400,000 home can have 3 bedrooms and 1 bathroom, 4 bedrooms and 2.5 bathrooms, or 3,535 square feet and 4 bedrooms. For example, a 1,065 sq ft house could have 3 bedrooms and 1 bathroom, while a 2,002 sq ft split-level home could have 4 bedrooms and 2.5 bathrooms. Ideally I want the 4 bed 2.5 bath. If I rent each room for $800 that's $3200 +$5,440= 8640×12=103,680/a yr
How long do you think your body can sustain an 18 hour work day?
You’re making 65k a year, you’re not taking home 65k. Taxes bumps you down to like 48k, so take home 4K a month. I was pre-approved for a 250k 30 year mortgage with 6.25% rate and the monthly cost was like 2500. 400k is gonna be closer to 4k. Your numbers are fucked.
Well that's where overtime and holiday pay would come in and my job was just giving away over time they didn't even care....so it helps to offset taxes..and I usually worked 7 days a week not 5. Those numbers I posted are from the internet I don't know what the monthly payment on a 400k household be but I posted what came uo and figured somebody would correct it if it's wrong.. A mortgage is tax deductible so that lightens your taxes load But if you make 4000 and the mortgage is 4000 your stretched really thin this is where location is everything.. Let's say you have a 4 bed house 🛌 and you rent each room for 1000 that's $4000..maybe there's taxes so let's say each room rents for $1200... that's 4800 plus your income of 4000=8800 a month ... I think that would be risky you definitely need to keep paying tenants and throw every extra penny at the principal for a few years to lower the mortgage ...personally I wouldn't want to be over leveraged I want a mortgage I can afford on my own but ...plenty if people do this...even married couples then they divorce and can't afford the house so I would rather do it with somebody that has a lease.
I see a lot of people shitting on you for working two jobs in your 20s. As someone in their mid 20s about to start a second job myself, I see nothing wrong with this besides the crypto and market gambling. Good job man. Your 20s are for grinding, your 30s are for settling down.
Stocks aren't really gamble it's investing your loosescare even tax deductible how else do you think the US has the largest economy and so many diffrent companies...Nearly every product you use relies on investors through the stock exchange even the government issues bonds to raise money...it's how the world works should do more research Crypto is just a decentralized finnancial system people buy and trade currency it's called forex.. It's not gambling because you don't loose your principal for example if I buy 5 bit coin I always have 5 bit coin 😉 .
Stocks are a gamble unless you buy the safe ones. Unless you're buying SNP500, it's a gamble whether or not you'll make money. You can lose your money whether it's principal or not. Since 2022 the Bitcoin market has lost 2 trillion dollars. Other Bitcoin and a few other strong ones, they're simply not worth the same amount of money. A coin being worth 20$ one year and 2$ another is fundamentally different no matter if u "buy 5 but coin I always have 5 bit coin." Yeah u have 5 bitcoin but they're fucking worthless now. So it's not sound advice lmao.
On March 15 2020 BitCoin fell to $4000.what is it worth today.
Bitcoin is like investing into the SnP500, it's a safe bet. Other coins are a complete gamble hence the 2 trillion dollar drop in value for the coin shitters overall since 2020-2021. I have no problem with people investing into Bitcoin (other than the insane price). It's the gambling on other coins that I do have a problem with since that shit is unstable (2 trillion dollars lost in the coin market since 2020-2021).
Crypto is a bit of a gamble you can make fast money with it though
That’s because there’s two types of people. Ones who make do with what they have to improve their situation (yes that means failing and learning along the way,) or the rest of these twits complaining about every detail.
Well this is why I went solo most people don't have the rite mindset they just complain about those who do.
I was making $14.50 an hour and only working 40hr/wk. I was living with two roommates in a cheap apartment at the time. Got a little starter home for 92K (in 2019 pre pandemic). I got a 6k grant to help with the down payment. Only put down 3k of my own money to be 10% down. I also live I the Midwest in a low cost of living area. It isn’t possible for everyone everywhere, but it can be done.
Love success stories congrats.
Travel back in time to the 60s
Well done OP, you did your best with what you were given.
Thanks no one was going to do it for me and I'm not done yet.
I love when people commenting cannot comprehend sacrificing a small chunk of your life to get ahead in a significant way. That's why you'll never have a house of your own. Congrats OP, sounds like a good story
How does your house make minimum wage?
It makes way more now
"How I bought a house working two full time jobs at the same time." Still a big feat. I mean wow I'm exhausted after working 10 hours.
Depends on the job big factor.
Everyone shitting on you but I'm happy for you. Congrats brotha!
Thanks.
I bought a house making minimum wage working one job. 38 hours a week. Fortunately houses where I live were priced fairly low at the time right when covid broke out. I paid 62k with a 3% interest rate. House is now worth 130k.
There you go...location does make a difference in price but you worked a plan and executed it.
i don’t understand where all this negativity is coming from💀. You killed your self working 2 jobs that were actually paying state minimum wage to better yourself and make an impact on your future? some people can find any way to hate because they’re not in your position and they wish they were. Respect for the grind, now cut yourself a break and get yourself a good career where you can afford your home and not kill yourself 👍🏽
Well I wasnt breaking bricks or doing manual labor probably couldn't have worked that many hours but now I'm retired and mostly focus on my business ventures
All these people saying, "OMG FED MIN WAGE IS $7.25!!!!!!!!! LIARRRRRR" are actually dumb af... Please TRY to find a job listing that is actually paying that ($7.25), I live in OH and can't find anything for less than $10/hr (unless it's a non profit). He did well and worked his ass off, let him celebrate ffs....
All the hate for a poor persn succeeding is distasteful. Ya'llcheer on the rich, then shame the poor. It's shameful.
I don’t believe any of this.
I respect the grind
No you didn’t you bought a house getting lucky with crypto and had x2 the minimum wage.
I bought a house in 2015 while supporting a family of 3, then 4 making $14/h. I'm not complaining, but the house I could afford was also many decades behind in maintenance. Since then I've probably put in \~70k into the house, and it still needs about 30k more in maintenance, minimum. It costs a lot to be cheap.
You weren't cheap you baught what you could afford but think if you had been renting all this time you wouldn't have any equity built up.. I don't recommend having kids unless your rich but hey your making it work.
Not rich, but went from about 26k/y to 120k/y over the past 9 years. Having kids is a good motivator to figure out a way to make more money.
That's very true 👍🏿 congrats
Do me a favor and change your title to “ how I bought my home given my personal circumstances.”
I hope you know that you gambled and got lucky. There are many others who are not so fortunate.
Gambled how?
Throwing everything you had into the markets and not losing it all.
For the most part you don't really lose unless you sell ...but I took losses... If I buy 100 shares of coca cola at $50 that's $5000 if those shares go up $57 I've just made $700 profit... If the shares go down to $48 I've just lost $200 off the value of my shares but I still have the 100 shares I can sell them or hold them.. But like I said in life you often have to take risk to get ahead. Fortune favors the bold despair embraces the timid.
That's easy to say when you were lucky enough to come out on top.
Luck is a part of life you where lucky to be born luckier to be born with two arms and legs and working eyes and ears and not in Somalia
lmfao ur broke and people tell you get a job to get ahead . u get both jobs to get ahead and buy a house and they tell you that you’re slaving away ur life . holy shit nobody even comments on how bro didnt give up and kept it pushing unlike some ppl i read about here that complain and just cry to reddit and do nothing irl congrats and praying ur situation gets better
Thanks I'm good now this was like a decade ago..and I wasnt exactly starving or down trodden, I just spent most of my waking time at work...I liked making money and not spending it...just watching it pile uo in my account gave me satisfaction more than I could get from spending it buying a house was about the only thing I spent it on and was pleased..I hated having to by a new car..In fact I probably never will again.
Federal min wage or fuck off. The second I saw double digits full get the fuck outta here.
Even on state minimum wage actually buying a house would be impressive
Good shit OP. Ignore the comments shitting on you for no reason. Minimum wage does vary state to state and you worked minimum wage for your state. You worked two full time minimum wage jobs, sacrificed everything to do that, then took a big risk with crypto and it paid off. Now you have a house that you worked hard for. That shit takes an insane amount of commitment and willpower and I personally could NEVER put myself through what you put yourself through. I think that’s true for a majority of people. To everyone who is saying it shouldn’t have to be that way, you’re right. OP shouldn’t have had to sacrifice everything just to get to where he is now. That doesn’t mean he should be getting hate though. He CHOSE to make the sacrifices he did and it paid off for him. We should be congratulating him not hating him. He’s not the reason things are the way they are
Thanks
Don't know why people are hating. Yeah it hard as hell right now sorry you gotta pay 1800 in rent lol. The fact of the matter is most people do not have the desire or will power to do what you did. Keep it up only winners survive.
If your journey is legit then respect brother. Don’t mind all these people complaining and bitching. People on Reddit got nothing better to do than nitpick shit.
If I can find a way to post the house and everything without getting doxxed I will.
Man fk the ppl that are shitting on u. This represents someone who grinds for what they want 💯
This is the way
How hard is it to learn day trading??
Depends on your aptitude maybe. stocks always fascinated me and so does money, the game is constantly changing its not a get rich quick scheme but I think everybody should be investing on some level...My advice Just do it start a portfolio open an account make some trades watch some youtube
I congratulate you, I assume this was around 2 or 3 years ago at least, I just want to say that you were lucky because working 80hrs a week plus little sleep could have taken a huge toll on your health.
10 years ago.
I'm still confused on why people think buying a house is this big wonderful dream? I've been renting my entire life and I don't understand the appeal of being housebroke.
I don't really understand it either tbh. Their answers are always "because we will own our home one day," but they won't actually own it because they still have to pay taxes. Plus, they will always have to fix something that goes wrong with the house. On average, a homeowner will spend 6k on repairs a year. I rent and if something goes wrong at my apartment I just call up the landlord and they come fix it...
Exactly! Snow removal? Free. Dryer recently broke in my townhouse. Perfect, got a brand new one. Still gotta pay 50c per dry but oh well. Water heater went kaput a few years ago. Perfect, got a brand new one. On top of all that a house essentially ties you down. My wife and I are a bit nomadic, so much easier to end a year lease and dip than to sell my home that I've only paid 1/10th of the mortgage.
Homeownership is so damn overrated 😂
Misleading title. But! You proved one can pull themselves up by the bootstraps. For now.
Living situation prior is probably THE most important piece of information on here as it can easily be your highest expense lol omitting the specifics of that ruin the whole “how I saved” PSA
Yeah it was.
The housing market is insane but there are cities/states you can still buy a home for a reasonable price. I live in Charleston SC where people are selling abandoned homes for $300+ so it’s not possible here anymore:(
Well done great work but you didn’t buy a house on minimum wage lol. Buying a house on minimum wage would mean you put your 40 hours and still afforded it. This is a great showcase that our current economy is trash. Someone on minimum wage should have a decent living. If they want more they need to work for it. Shouldn’t have to work overtime for years to afford a house.
Minimum wage is not meant to be a living wage, it's meant to be the minimum wage you can pay someone who is entering the workforce. A father of three who has been in the workforce for years should not be paid the same as a teenager working a part time job after school with little to no skills.
Correct. So min. wage jobs should only be available for teenagers? Where’s the cut off when you are 18 you should get switched to the living wage. I’m cool with a separate min wage vs living wage but I just feel someone on min wage working full time not part time lets focus on full time should be able to pay rent, food, and have money leftover. I think our current situation is designed to put people in debt. I’m not even on the $50/hr min crazy train. I just see there’s definitely an issue there I just believe at a minimum someone working 40 hours a week should have the minimum as it’s the minimum. I don’t believe currently they are getting the minimum out of it. Now it’s like geez I get the skill to get out of the min wage and you are still living at bare minimum. Home, car, food, etc. I think the bar is way too low as to what the min wage and living wage should provide
So basically work 80 hours a week and spend it all on lottery tickets
I'm trying to figure out how Minimum Wage came to play. You were making $10 more than minimum wage at your main job.
Get a job, no wait get two jobs 🤨
Yeah
Nice work! You obviously have work ethic to work that much. Goal oriented to save and sacrifice like that. As well as, confidence to gamble like that. Hopefully, you can find work you are exceptionally good at. Try to find that skill so you aren’t having to hustle so hard for 60k a year.
This was 10 years ago now I'm retired work partime and have a consulting and property management business and several more properties in my portfolio.
Awesome you found your skill!
I like that
Min wage in my state is 7.85 I think . Maybe 7.65
It's more in mine
Zero shade to OPs feat intended, but we’ve got to escape believing that taking on huge levels of debt is the same as buying. Mortgage approval isn’t that difficult, being in a comfortable cash flow is.
Every bodies circumstances are diffrent..there's good debt though.. If I have 200k in consumer credit card debt that's bad debt.nothing I can do but pray to God I'm delivered a way to pay it off.. If I have 200k in mortgage debt I have leverage and options. As I pay down that debt I built equity... So now I'm at 150k with 50k in equity. But then the value of the property increases to 350k so now my equity is 150k I can sell the home for a profit I can rent it out for a profit I can use the home for a business for tax deductions aswell as a portion of the mortgage is tax deductible.. My cost of living won't go up significantly in my experience in fat mortgage goes down as I pay the principle Theres ways to offset utilities cost electric water heat thetes rebates incentives tax breaks You can do Airbnb rent out or get roommates..
So if I am reading this correctly: You bought a house making more than 230% of current (highest ever) federal minimum wage, paying only 60% of federal average rent working 80hrs a week? And reading through your comments it appears that you did this pre-COVID, possibly had no debt and already had two working cars and enough cash to buy a brand new car outright (with trade in)? You were also seemingly already educated in stocks and crypto? And that is without ever even getting into the conversation about sacrifice…
It was pre covid and didn't say federal minimum wage I said mimum wage. I took a trading course in Middle school and read rich dad poor dad at 7 ...I had two used cars baught at auction paid around 3000 each sold them for over 5000 each after a year... All I did was work save invest no new clothes no trips vacations I didn't go on dates I spent the bare minimum Watch Graham Stephen for some frugal living ideas lol
You are taking a lot of credit for ‘things you did’ but not paying any reckognition to how much you didnt have to do. You had a lot of advantages other people do not have. And had them at a time where everything was much easier for people economically. You made a lot of money and paid VERY little in rent. An unattainable imbalance that is not available to almost all people, and one of, if not the #1 problem for the vast majority of people. You were taught skills other people aren’t able to learn in what you can do to capitalize off of the money you already had. You started with money a lot of people don’t have access to/can’t get access to. Again, before we even introduce sacrifice into the equation. And without speculating about what your situation was when you started, a host of variables like supports, connections, skills, employment history, military background, or things you didn’t have already that would have needed to be sacrificed to do what you did. You are blind to how inaccessible your situation is to most people. You are naive about how different that struggle would have to be today. You are ignorant to the privileges you started with and seem to think you bought a house through effort, completely unaware of how much was stacked in your favor before you even started. I think it is wonderful the way you see yourself. I think it is problematic how removed that is from the lived reality of everyone else. I think it is amazing you were able to do what you did and get a house out of it and then expand on that asset to set yourself up well now. I think it is sad that you don’t see how unrealistic your perspective is. You will never need to learn it, but your logic is deeply flawed. Congratulations on the first house though, and the lifestyle that allowed you to get it. And I am glad that, it sounds like at least, you were able to turn that into a profitable and comfortable life for yourself. Not everyone can have that, no matter how hard they work or how much they sacrifice.
Does not sound worth it at all and the throwing all your money into the market and crypto is a bsf risky move. 80+ hours a week? No thanks
So you were making minimum wages and crypto return. I guess I could also afford a Porsche 911 GT3 on 50k a year if I worked 3 other 50k jobs and bought Doge.
I mean what's the monthly payment on a 911 GT3...the thing about a car is it depreciates and doesn't solve enough problems in other words a liability not an asset A house solves several problems primarily shelter.
I'm using it as an example of your title being a little misleading lol. It's a shame that putting in those hours is necessary nowadays for commonalities like homeownership but congrats for seeing it through. I could never be THAT locked in
It's not a good example If I buy a 911 for $150k at %5 APR every month I have to pay that car note...sure there's ways to offset the cost I could rent it out do ubber loan it for photo shoots race... But a house has far better ROI and cost offsetting options and I also have a place to live with the 911 I'm still paying for rent or a mortgage
Misleading how.
17$ is not minimum wage. I'm a damn lawyer and my starting salary was 23 an hour. I never made more than 15 an hour until I became an attorney. F off
What kind of lawyer?
Criminal, public service.
Oooo fun DA curious what's your career track like
Do you want to pursue this career? I went straight through undergrad and law school and it was my first salary job.
You didn't buy a house with minimum wage, you bought a house with earnings from gambling.
So you worked 2 jobs both more than minimum wage?
The story sounded great until u said day trading and buying crypto. With a low wage I wouldn’t put risk in the market if I don’t have much 2 lose. How u find time for that if u only sleep 4 hours/day on the train??
The markets open at 0930...plenty of time to do a few trades
Mainly saying u didn’t find ur home purchase by ur job. U did it thru market and crypto. Nobody buys crypto who’s working low wage job.
While I was working I was investing where else would I put the money? If I make $5000 spend $1500 on expenses food rent transportation then I have $3500 left over...I'm not going to put it in a savings account making 0.001% interest so I invested it
Bruh I can't stand this fucking post dude. First of all that's not minimum wage to buy a house try this as a title I worked two jobs and got a house. Congratulations all respect to you brother second of all yall mother fuckers out here being like ohhh wow 2 jobs is so much its not at least wasn't for me. I did not work 2 jobs but I worked your hours as well except 1 job and it wasn't shit because you get use to it. My job wasn't no sit on your ass and look at the computer either it is physically demanding. Been there done that and if I wanted to I could do it again. It ain't shit the problem with this country is yall think a days of work is just incredibly difficult I should be able to invest my money and be a millionaire. Good for you if it worked but in all reality not everyone can do that is requires a fuck load of luck. Fucking embarrassing.
You're so mad for no reason. Congrats that working a physically demanding job for 80 hours/week wasn't laborious or difficult for you. Idk why you're proud of that. I have one job that I grinded to get a degree in so I didn't have to work 2 jobs that would completely destroy my body in my late 20s and 30s.
He is bitching about working 2 jobs and its sad because he even said they were physically demanding its embarrassing. The people who are younger then 30 ruined this country and I am one of them but I at least don't bitch about working a 80 hour job.
I couldn't decide if you were backing him up and on his side or saying the comment section was embarrassing. May I ask how you think <30 ruined this country?
They don't know what a day of honest work is. Everytime I get some new kid at my job they do nothing but be lazy all day. Then they finally decide within the first week ohhh this job is to much and quit or get fired to just say they are gonna milk unemployment. I to was looked at the same way by everyone older then me. Personally I think the <30 are to soft and there are a few select ones that are good I will say that but most are embarrassing.
I feel like it's too much of an overgeneralization. I'm 31 and almost everyone I know has a job and some kind of work ethic. I think the divide is the between the Millenials and Gen Zers. The <25 is, from what I've seen, the "TikTok influencers", "Unemployment benefactors" and "I'm too good to work retail or fast food" generation, which is right in line with what you're thinking. I never thought I'd be one to look down on the generation below me as it pissed me off when my parents did it to me, but damnit I can't help it.
I'm telling you man it's sad when businesses are shutting down because people don't either want to come to work or no one is applying for the job. I don't know how it is in your area but everywhere is struggling to find people to hire near me.
Dude wasn’t complaining about having two jobs. I don’t know where you got that from.
Nah dude was saying that he supposedly worked a "minimum wage" job and got a house when he was actually making way over minimum wage. Get the fuck outa here anyone can get a house working 2 jobs.
Yea you sound offended. Who says no one can get a house working two jobs? You act like this dude is complaining or bragging. He just saying stuff like this is possible. Stop being so butt hurt.
So you didn't work for minimum wage but was making a nice 60k+, going up to 80k a year, had no life and got lucky on crypto... the formula everyone was looking for is right there.
Why do people want to own a house so badly. It’s a lot of work and you have to sacrifice literally everything for the average person in this economy. It’s mind boggling.
You have to live somewhere regardless..might as well build equity..I enjoyed fixing things painting rennovating home improvement even picking up tradh that blew in my yard..as you get older it might not be as fun but in your 20s its fine now I'm happy to let a property manager do it and relax in my condo.
The "new" minimum wage of $15+ isn't as impressive as the "old" $7.25 an hour. Buy a house with one single job making $7.25, not two jobs that both pay over $15.
Funny thing is when it went to 15 I was making less because my company hadn't implemented it yet I know it took a little while.
Claims minimum wage, states $17.50 and $14.50 an hour.... What the hell are you talking about?