Ginger Island was phenomenal. They took everything that made the game suck and fixed it without disrespecting players who liked doing things the old way, plus they added in some cool content which added a lot to the end game. Fairy dust is single handedly the best feature ever added since once you get a room full of Statues of Fortune you can just pump out any item you want at breakneck speed. Fairy Rose goes from being a niche flower you use for bees to a genuine powerhouse of a crop during a season which is normally a massive lull in production. The only thing that sucks about them is that they stack really badly. I really hope next update fixes that because that is unacceptable game design.
I’ve calculated if it would pay off to build a house with four units on a piece of land that I already have. It would barely pay for itself after 30 years but let’s be honest, 30 years is when the first big renovations are in order. I’m not sure if the “landlords are rich leeches” - trope holds up outside expensive cities with inherited properties.
It really depends on the nature of the rental and your area. If instead of building a house you build 4 closely stacked duplexes and charged each one double what the mortgage would be you’d definitely make money, but you’d also be an extortionate leech. In my area someone built 4 nice duplexes on a double lot (probably around 1.5 acres) and is now renting them at $1800 each. The land was probably less than $55k and the cost of construction was likely less than $1 mil. At 5% interest on a 30 year loan their monthly payment would be $5,600, but they’re bringing in $14,400 per month.
$1800 for rent is an extortionate price in my area (it’s big city apartment rental prices, with a pool and gym), even after interest rates went up.
On the other hand, I knew a couple who were landlords for nearly 20 years. They rarely raised the rents and even in 2022 they were still charging <$1000 per month for a full house because that paid the costs and for them it was an investment, not a source of income.
They finally sold their rental homes and made about $70k over what they originally paid on each house. Doing the math that comes out to be a roughly 8.5% annual percentage return without counting the rent gained each month. That’s a fairly solid investment without being a sucky person.
I’m not sure what you used to calculate it, but it definitely isn’t only “expensive cities with inherited properties”… I did the math on the last house I rented: lived there for 8 years. It was a duplex in a city in a very cheap cost of living state. Just my rent alone for those 8 years more than covered what the entire duplex was purchased for 3 years prior to me moving in. That means if both sides were occupied, which it was for all but 1 month in the 8 years I was there, it’s paid for in full in 4 years. Even if you “have to renovate” in 30 years, hell even 15 years, you have 10 years of pure profit even after considering insurance and property taxes and probably even maintenence costs…
Maybe your area doesn’t have high demand for rentals or you under-valued your rent price, but there wouldn’t be so many people doing it if it wasn’t profitable.
“Landlords are rich leeches” is still true because the vast majority of property in the US is not owned by hard working people who are investing their earnings owning a handful of properties at most, but by property companies and hedge funds.
Being a landlord isn’t a way for someone who doesn’t have wealth to acquire it. It’s a way to park your existing wealth in quickly appreciating assets preferably purchased from other losers when they lose their asses and collect monthly rent too.
If on day one you have 700k and you purchase an existing property and in 30 days after you rent it out your property is still worth 700k and you are now ahead of the game in 30 days not 30 years.
If you purchased at a reasonable time a year later its worth 750 and you’ve collected 84k 1% of property value per month.
quickly appreciating assets preferably purchased from other losers when they lose their asses and collect monthly rent too.
I wouldn’t say quickly appreciating, though. It’s a fairly slow growth rate for someone with that kind of money. They diversify into real estate because it creates some tax protections (your costs) and it’s fairly stable. Like buying into a terrible small business, but one that magically won’t fail. The things that could cause total loss to real estate are usually handled in standard insurance, unlike a business that can just tank.
The thing is, as you and the other person said, it’s all about the big companies who own tons of real estate AND the big companies that manage rental properties.
Good luck getting 11% a year in the stock market. I think your stats include the pandemic and I don’t think we’ll see increases like that again, at least we can’t count on it.
11% has been a financial planning standard since time immemorial (ok, well, since after the great depression). If a hedge fund or other investment isn’t hitting 11%, you should be in S&P or NDQ which flattens to 10% over time… or “only” 6-7% after adjusting for inflation.
The last 30 years are considered “below average”. The market only grew 9.9%/year on average. Which apparently that 0.1% is a big deal for investors.
Here’s a fairly good breakdown on SOFI. Obviously, we’ll never know what the future holds, but 10% over time is the “bad return” that rich people talk about.
I know this kind of post is not supposed to be taken seriously, but they’re so haphazard and forced that I don’t find them funny. I’m getting sick of these billions of poorly-thought-out “moral + lawful alignment” charts for things that have little to no morality or lawfulness attached, trying to tell us what kind of person we are if we do what, and being wildly off-the-mark. For this one and most others, most of the entries are “lawful good/neutral”, because they are valid and effective ways to protect your fucking bread, done by someone who sees it important to do so. If you really want to start categorizing the way tons of different people do shit, find a more appropriate format.
This is very occasionally popping up in restaurants in Australia. Whether you live here or travelling. Do not tip unless they did something incredible. I’m talking the fish brought your grandma back to life and the chef reconnected you with your long lost father. We don’t want to encourage tipping culture. We want to increase minimum wage. It’s like $23 now and we need that to keep growing with the economy.
Well, not for long. 1.6 is the very last update ever (unless it breaks something and needs a hot fix) and then he’s working on Haunted Chocolatier full time.
Stack luck (Ginger Ale and Lucky Lunch/Magic Rock Candy) then go panning on Ginger Island to get your first lucky ring. If you don’t succeed take your stacked luck to Skull Cavern and just do a normal run and you might get one as a drop. With high luck your chances of getting an auto-petter and auto-getter from the loot floors. I have two lucky rings and always do ginger ale and rock candy and my luck stacks so high that I get pretty much a 100% drop rate of the things to the point it’s kind of a nuisance. Once find a lucky ring put it on. Later on you can take it to the forge to fuse with a burglars for double drops and again Iridium for the magnet. Now every day is a good luck day.
EDIT: You can also combine lucky rings with your favorite set of rings. For example luck/coffee with luck/burglars is a very funny combo.
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