[quote=Ren][quote=bearishgurl]I’m ingoring no one, Ren. In CA, those `successful LL’s in a variety of markets over the past 40 years’ you speak of here bought their (SFR) rental properties for $20K to $90K and are currently paying $300 to $750 annual property taxes on them. Some inherited their rental properties, complete with low property taxes appurtenant thereto. They bought properties within 25 miles of their residence or the residence or business of a relative or longtime biz partner who is managing some or all of them…[/quote]I don’t like to use this term much, but… LOL. You have a bad habit of describing in excruciating detail (including weirdly exact ranges) what you think happens to people, then applying them to an entire county and generation, as if everyone went through the same scenario. I live over here in Real Life, where every situation is unique.[/quote]
Sorry, I just noticed I made a typo on the post above that Ren replied to. “$20K to $90K” is an error. It should read “$20K to $40K.” I apologize for any confusion this may have caused.
There were a LOT of properties ALL OVER SD County in this price range at that time. These were the typical starter homes and rental investments of the era.
There is nothing “weirdly exact” about the range of property taxes I was posting, Ren. It is what it is. Obviously, you and I live in different worlds. I live in a world where MANY owners, whether in residence … or not, have taxes in those ranges … on some blocks, more than half the owners do. IOW, you live in an “encumbered world” and I live in a mostly “unencumbered world.” With the rampant urban sprawl of CA in the last ~20 years, this is an apt description of the two worlds of CA.
Nothing wrong with either choice. Different strokes for different folks.
I often see and talk to these senior LL’s when they are working on their investment properties. One is taking care of their aunt’s rental house because she is now too old to work on it. They’re digging french drains and concreting over for flood control for the driveway, garage and foundation, replacing windows, building fences and patching the roof, etc, sometimes with the help of an adult child or other relative. And they actually just live two blocks or <1 mile away! Yes, at the age of 60-75, that's real life for them!
The vast majority of the IE’s parcels within 20 miles of the SD County line (where you live) are less than 20 years old and this region went through a deep depression a few years back. Thus, the homeowners who bought there between 2000 and 2006 became deeply underwater … many more than 50%. ALL of their taxes were high until they were likely reduced wholesale by the RIV County assessor pursuant to Prop 8. Excepting for a few scattered disabled veterans, there are no owners within subdivisions in your area with property taxes of less than $750 per yr on improved property, unless they purchased a small cheap condo in distress within the last ~2 years.
If you think I’m pulling these numbers out of my ass, why don’t you start plugging in APN numbers off parcel maps which were platted (and built) more than 35 years ago and sold for no more than $20-$40K in 1978 and prior and have not sold since.
Why don’t you start your “number plugging” here with (pulls random numbers out of ass) SD County Parcel Map Nos. 471 and 542. Use 8 digits for a SFR (not 10 for a condo) and … have fun!
Let me know when you’re done and then you can move on over to LG for “further study” ;-]
