So you're bringing in between $5,500 to $8,000 (net) a month and want to use $2,800 towards rent?

bad advice....he needs an attorney so that he can prep for the negotiations

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maybe not i bonds but there are other fix income assets they could invest in. Alot can be said for being debt free....it is a nice feeling

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It’s not a bad idea, as such. It’s a fairly common method, the sub is r/churning.

Here their post on the risks.

https://reddit.com/r/churning/comments/8m487c/why_you_should_not_begin_churning_v30/

What if they cut hours? What if you dont meet your commission every month?

I 100% would not rent this spot.

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median home price in the US is $428,000. Haven’t seen a home for $256,000 in years

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>into I bonds and get a 6.89% return on their money.

Maybe, or maybe not. It will be 6 months at the current rate, and 6 months at the next i bond rate announced May 1.

That is tight I would not risk it. Save up and buy, max out your 401k start a IRA. Help pay off your parents home. Rent is like throwing money in to a fire.

And usually no payment for about 2 monthes ! Just more time to save until you start payin ! It would be crazy not to , take it from another tradesman! Lol 👍

Don’t do it… save up more money and buy yourself a condo/ apartment/ house. At least this space will be yours and you can always resell.

ah gotcha! i hope that you’re investing a lot of it than and have a plan to get out so you can enjoy life!

Wow that's annoying. Thanks doenthe heads up, seems like the goal should be to shoot as close as possible

Your commission is money to invest in your future. Live on the salary now. If I would have don’t this 15 years ago I would be a millionaire. The luxury apt downtown wasn’t worth it

Renting is a waste of money. Get a 1st time home buyers loan fha or something along those lines . Little money out of pocket , just earnest money deposit. Ask seller to cover closing costs , your house payment will be less than rent . It will also be yours . Get a starter home 1000 square ft. When u sell in 5 years your profits go into your new home . And i guarantee youll have more enjoyment out of your new house with very little cash out of pocket!

I wish i had the roth option when i started an ira as im going to be in a higher tax bracket when i finally retire. The question you should ask is do you really think our government appetite for money will result in lower taxes in the future or higher taxes?

Buy a duplex. Rent out the other side and live rent free.

I am going to say you don't need an attorney at this point. Attorneys become involved when there is disagreement about where the injury took place, which happens with things like herniated discs etc, or if you feel the settlement offer is not adequate.

All of this will be paid through your employer's WC insurance carrier, not directly from the employer

You should start by reading the homebuyers info in the post above.

I don't believe, no matter the program, you would be approved for a mortgage at the price range you are looking at. You don't make enough money to qualify. Lenders are not going to factor in rental income from letting rooms.

Admirable goal.... Probably not at this time though

I actually have three now - Capital One, Citi, and my local credit union.

If that 2500 minimum net commissions isn't reliable, then that's more risky. I'm taking OP at their word that it ranges between 2500 and 5K/month in commissions and they can more or less count on at least the minimum.

no, you CAN NOT. you should be renting somewhere close to $1500 MAX.