Should We Buy a House on a $25,000 Income?

Should We Buy a House on a $25,000 Income?

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[blackonblack...]

Dave got the Adidas jumpsuit on like a Russian, lol!

[ryant]

There is nothing wrong with renting if it allows you to get into a better financial position.

[crisc]

Sell the car, sell the kids, sell the wife then buy the house

[wildemal]

My husband was a "dialed in" veteran who used his GI bill to get his masters degree in real estate finance after completing his military service. His education was paid for, we got BAH while he was in school, and now he works for a developer making $120k/year. If veterans do anything with their benefits, please take advantage of the GI Bill. It can change your life!!

[joshanderson]

Tfw I say "better than I deserve" on cue but Dave actually responds with something different 😱

[djpuplex]

$25k in Tampa ain't doa
ble. Really ain't doable anywhere.

[DaveM-FFB]

First thought should be INCOME. Second thought should be SAVINGS/INVESTMENT. Third thought should be EXPENSES. Don't make plans to spend money you don't have.

[helenhyde]

Buying a house is great, but there ain’t no shame in renting.

[brianafranklin]

Why would you even want to buy a house on $25K...

[MM-elfv]

I didnt realize trap houses are now considered dream homes.

[ID]

This is a nobrainer, do not purchase a home on that small income

[alexiswhite]

Successfull people don't become that way overnight. What most people see at a glance-wealth, a great career, purpose-is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life..

[BrandonMinguez]

Since they’re also moving back to a new area, it’s definitely good to rent. That way they can spend some time browsing the areas that would be great for them to live in and save up during that time.

[jazzymichael]

Gees, this guy doesn't even know what he wants to study in school, literally doesn't make any money, and wants to buy a dream house on his wife's $25k yearly income. This is some single digit IQ type of thinking

[rross]

This is 100% the same situation my wife and I are in right now. I got out of the Air Force in 2014 and just started school targeting an engineering degree. Our plan is to graduate with no additional debt and once I have a job with the Army Corp of Engineers save up money until we have 20% of the down payment for a house. We are doing this while my wife is pregnant with our first child.

[boomn]

Sad you can’t afford a house on 25k a year. Prices are so expensive.

[patrickcrehan]

I bought my first rental with 23k income. Saved up every penny for it. Then, I did it all over again, rented the first house out, bought another and now my income is significantly higher. I am about to do it again and have two single family rentals at about 1.2% rent to value for each property. It can be done.

[torxx]

Construction is the best way to go for anyone who doesnt know what they wanna do for work, its the only job u will get that doesnt need a degree, and will pay more than someone with a degree

[derekrank]

dont know why everything is so complicated for people to understand. you either have money or you dont. if you have money you buy what you want.if you dont have money you settle for whatever you can afford. stop trying too do what you cant afford

[erickn]

Dave look like a Russian Soccer coach;but yeah 25k is nearly impossible to live on. HIs wife has to change jobs asap🤷‍♂️😂😂