RethinkJeff1d ago
I can not overstate that I think you should start a church. Not necessarily a religion, and not something supernatural, but the legal structure. You can do so much amazing fucked up shit as a church that you can't do by yourself. A church is just a community organization dedicated to some kind of THING. You start a church with 10 of your friends and buy a 4plex and then over time crash the local housing economy. Fucking do it. AAAAHHHHHHHH.
Show threadRethinkJeff1d ago

The way this works is that you start your church, and you have people tithe 20% of their income to it (obviously you have to have everything set up in a way that generates explicit trust) We'll just use flat 100's because it's easy even if percentages are evil.

(Also this works better if you're all younger and more single but REVOLUTION IS POSSIBLE AT ANY TIME)

Show threadRethinkJeff1d ago

Typically you're locked into not being able to do anything more than 43% of your household income to purchase a property. BUT! With 10 people contributing 20%, you now have twice the available income available to your church!

This means you can have up to 86% of your collected household income as your mortgage expense! To fulfill your church goals of providing effective housing to people!

Show threadRethinkJeff1d ago

This also means you can have the church pay off the 4plex faster!

And then, the 4plex is now generating revenue, and you can either reduce the amount you tithe to the effort, or increase your purchase capacity.

Because your costs no longer include a mortgage, you can rent for repair/maintenance tax costs, which is SIGNIFICANTLY BELOW MARKET RATE.

Show threadRethinkJeff
Now, you just, keep doing this with multifamily units in your area. Because the rental economy is run on comparables, over time you'll reduce rental average! (See RealPage/YieldStar BULLSHIT)
Mar 27 at 12:01amWeb
Show threadRethinkJeff1d ago
This will mean that people overbuying real estate will have to change models, because the rates they are buying things at just Don't Make Sense anymore! (In a rational market. These people are insane and don't understand how tax write offs work so while you will for sure reduce rental rates I can't make guarantees about fucking over fintech bros.)
Show threadRethinkJeff1d ago

ANYWAY.

Hopefully this makes sense, I'm happy to answer any questions you might have about any of this. Start a church! It's like a corporation but you can do spooky stuff with it!

Show threadRethinkJeff1d ago
A church is NOT NECESSARILY A RELIGION. TO BE CLEAR HERE. Talk to your ATTORNEY and ACCOUNTANT about the specifics of what _YOU_ need to do to be a church for your specific goals!