FB: Liberty League

[Tags]

Doods, oil futures are sniffing $74 / barrel, up $1+ as we speak.

I'm not going to be able to drive soon, let alone purchase a home.

[Jonny Utah]

RE:  New Real Estate

'Gro, LD11 feels your pain, probably 10 fold.  I know Chattanooga is becoming a hotbed for transplants, but any areas of woods and trees that were in Wilmington when LD11 moved here, are now Condo or Townhouse complexes.  Makes LD11s Townhouse stuck at a peak for a while.  But, rent prices here are on par with a city because there are so many college students, so worst case scenario, LD11 waits out the build and move, rents the place out for as many years as needed.

yea and if your close to the water in any state on the east coast thats a piece of property to keep if you can.

[JT]

RT- Who takes the calls from your tenants at 2am when the heat doesn't work?  Who collects back rent when they haven't paid?  Who has to deal with the new carpeting every 2 years?

Be very careful if you guys think you can buy a duplex and nearly break even.  If that were the case, don't you think someone would just come around and use it as rental property?  

Good advice.  TGP and Mrs considering hanging onto duplex after buying our other place, but a close CBA (that's cost benefit analysis for you herbs), the profit margin was so thin, we didn't think it would be worth the schlep if we got a call at 5 PM to drive into LA during rush hour to deal with a clogged toilet or some other BS/

Try a management company.  They usually take 10% of rents.  Sometimes they don't do duplexes, but if there are some decent size apartment complexes in the area, they might take the xtra scratch on a nearby duplex.

Or maybe turn it into a lease/purchase.  Then the tenants are buyers not really renters, since they will be gaining equity, the contract could specify that they fix/repair stuff.

[Jonny Utah]

RT- Who takes the calls from your tenants at 2am when the heat doesn't work?  Who collects back rent when they haven't paid?  Who has to deal with the new carpeting every 2 years?

Be very careful if you guys think you can buy a duplex and nearly break even.  If that were the case, don't you think someone would just come around and use it as rental property?  

Good advice.  TGP and Mrs considering hanging onto duplex after buying our other place, but a close CBA (that's cost benefit analysis for you herbs), the profit margin was so thin, we didn't think it would be worth the schlep if we got a call at 5 PM to drive into LA during rush hour to deal with a clogged toilet or some other BS/

Try a management company.  They usually take 10% of rents.  Sometimes they don't do duplexes, but if there are some decent size apartment complexes in the area, they might take the xtra scratch on a nearby duplex.

Or maybe turn it into a lease/purchase.  Then the tenants are buyers not really renters, since they will be gaining equity, the contract could specify that they fix/repair stuff.

Yea 10% isnt going to be worth it unless you have a lot of properties and your still going to have to pay the contractors.

I would just give them the numbers of YOUR plumber, electrition etc and then send you hte bill for emergency work.

[57Johnnie]

RT,
Saw your post on the MIAC board. Now you know why TDT is President of The Classless A$$holes Club - FOR LIFE and by acclamation 

[Knightstalker]

You can always give them the option like KS landlord does, either he takes care of the repairs, mostly done by his nephew or KS can do it and take it off the rent.  You need a good landlord/tenant relationship for this to work though.

KS loves his landlord and landlady, he is retired from the housekeeping/maintenance crew at NJCU and his wife retired from the NJCU cafe.  They treat the KS family, actually all their tenants well and do everything they can to keep the building nice and rent down.

[PBR...]

just also remember your taxes/insurance/elec/heat/ costs will keep going up over the course of time. the knuckleheads who really dont think things out just look out in the future and think about when the house will be paid off and all this rent coming in forgetting about how their overhead will keep going up as well as usual maintenance on an apt.

[labart96]

K+ to Hobart grad Doug Blakowski for his TD in vs. Germany!

[Jonny Utah]

just also remember your taxes/insurance/elec/heat/ costs will keep going up over the course of time. the knuckleheads who really dont think things out just look out in the future and think about when the house will be paid off and all this rent coming in forgetting about how their overhead will keep going up as well as usual maintenance on an apt.

Well in 20 years that rent money is pure cash so that other stuff still has to be paid but it wont be a problem.

ie: a 75K 3 family bought in Boston in 1997 is now 1 million dollars bringing in 7K a month.  And taxes are about 7K a year and throw in another 2K for insurance and all that and you are making big money. 

You would have to assume the same would happen in 2027 if the house goes up in value...

[PBR...]

alright all u future trumps out there here is some interesting data released today so go line up and buy your rentals properties en masse and make millions since there will be a ton out there in the next 30 days being offered at sheriff sales and by banks...

     July 12  -- Mortgage foreclosures in the U.S.
climbed 87 percent last month as falling home prices and stricter
loan standards made it harder for borrowers to make payments.
     There were 164,644 loan default notices, scheduled auctions
and bank repossessions in June, led by filings in California and
Florida, where home prices have plummeted, and Ohio and Michigan,
where automotive-related businesses have fired workers. Those four
states accounted for half the national total, RealtyTrac, a seller
of foreclosure data, said today in a statement.
     Foreclosures are soaring amid a glut of properties and as
interest rates close to an 11-month high make it more difficult
for borrowers to refinance. Defaults may rise further as owners
with adjustable rates see their payments soar. The share of people
taking out all types of adjustable-rate home loans averaged 29
percent during the past three years, compared with the 17 percent
average of the prior three years, according to Freddie Mac data.

['gro]

K+ to Hobart grad Doug Blakowski for his TD in vs. Germany!

are any of the ESPNs covering this? I would like to see what kind of teams the other nations are putting up (or things that resemble teams).  Last weekend gro was flipping through the channel menu and saw they had a rock paper scissor championship on ESPN... WTF? Gro was heading out but put it on the DVR.  It was the dumbest thing ever.  The best part was that the eventual winner received $50K in cash, and as he held the money up you could clearly see that each stack was just full of 1's with a 100 on the front.

point being, they show this crap (gro hates poker too, don't need that on TV either) and not an interesting form of football?

[Rolevio]

Official Site with rosters can be found here: http://wc2007.info/index_e.html

[labart96]

K+ to Hobart grad Doug Blakowski for his TD in vs. Germany!

are any of the ESPNs covering this? I would like to see what kind of teams the other nations are putting up (or things that resemble teams).  Last weekend gro was flipping through the channel menu and saw they had a rock paper scissor championship on ESPN... WTF? Gro was heading out but put it on the DVR.  It was the dumbest thing ever.  The best part was that the eventual winner received $50K in cash, and as he held the money up you could clearly see that each stack was just full of 1's with a 100 on the front.

point being, they show this crap (gro hates poker too, don't need that on TV either) and not an interesting form of football?

No kidding.  If the duece will show 2 hr edited tape delays of MLL (aka pro lacrosse), why not some college/semi-pro football during the slowest (post nhl/nba, mlb all star break, pre-nfl and ncaa fb season) part of the sport's calendar?

A lot of these Team USA kids could be going AFL - WTF is right.

[Tags]

There's all kinds of negative things to say right now about real estate and sub-prime mortgage crash, players in the CDS markets taking a bath, yada yada.

The bottom line is that real estate will always be a good investment, provided you know what your doing & don't get in over your head... which is obviously easier said than done.

[Pat Coleman]

There's probably a significant cost associated with broadcasting a game being played in Japan.