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October 1, 2010 at 1:28 PM #612655October 1, 2010 at 11:09 PM #611726NicMMParticipant
CA renter,
What you said about rental may be true. I saw several around $50k in Escondido.
Like this on in east Escondido,
http://www.sdlookup.com/MLS-090024886-1817_E_Grand_Ave_6_Escondido_CA_92027It is asking for 1987’s price. Does anyone know if it has any problem such as broken HOA or plumbing issues (since it is a 70s building)? How do we check those?
In this area, can a 900 sqft 2 bedroom condo rent for $800? I guess after $250 HOA fee, property tax, and vacancy, $800 would be a number to break even or make some money?
If these homes have cash flow from day one, why investors are not jumping on and let them sit on market so long?
-NicMM
[quote=CA renter][quote=NicMM]Patb, these two pictures are accurate depiction.
Here is the challenge for you. If it’s you, what you would do with $50K?-NicMM
[quote=patb]Don’t call it land investment call it Land Speculation.
To be an investment you need a cash flow and an exit strategy.
Here’s you.” i want to buy 2 acres for $50K and someday sell it”
Here’s an Investor” I am going to buy 10,000 Acres
get the state to build an offramp and the county to build 30 miles of section Road and the city to rezone it, while i rent it to cattle ranchers for cash”Guess who makes money.?[/quote][/quote]
NicMM,
If your heart is set on real estate, $50K would be better spent buying a rental in Escondido or Oceanside (that has positive cashflow from day one) than speculating in desert land. You’ll have to manage and maintain it yourself, but you might make money over time.
My family has a history with both land and rentals/housing investments, and I can say for a fact that existing housing is far, far more profitable than land, with only a very few exceptions.[/quote]
October 1, 2010 at 11:09 PM #611813NicMMParticipantCA renter,
What you said about rental may be true. I saw several around $50k in Escondido.
Like this on in east Escondido,
http://www.sdlookup.com/MLS-090024886-1817_E_Grand_Ave_6_Escondido_CA_92027It is asking for 1987’s price. Does anyone know if it has any problem such as broken HOA or plumbing issues (since it is a 70s building)? How do we check those?
In this area, can a 900 sqft 2 bedroom condo rent for $800? I guess after $250 HOA fee, property tax, and vacancy, $800 would be a number to break even or make some money?
If these homes have cash flow from day one, why investors are not jumping on and let them sit on market so long?
-NicMM
[quote=CA renter][quote=NicMM]Patb, these two pictures are accurate depiction.
Here is the challenge for you. If it’s you, what you would do with $50K?-NicMM
[quote=patb]Don’t call it land investment call it Land Speculation.
To be an investment you need a cash flow and an exit strategy.
Here’s you.” i want to buy 2 acres for $50K and someday sell it”
Here’s an Investor” I am going to buy 10,000 Acres
get the state to build an offramp and the county to build 30 miles of section Road and the city to rezone it, while i rent it to cattle ranchers for cash”Guess who makes money.?[/quote][/quote]
NicMM,
If your heart is set on real estate, $50K would be better spent buying a rental in Escondido or Oceanside (that has positive cashflow from day one) than speculating in desert land. You’ll have to manage and maintain it yourself, but you might make money over time.
My family has a history with both land and rentals/housing investments, and I can say for a fact that existing housing is far, far more profitable than land, with only a very few exceptions.[/quote]
October 1, 2010 at 11:09 PM #612361NicMMParticipantCA renter,
What you said about rental may be true. I saw several around $50k in Escondido.
Like this on in east Escondido,
http://www.sdlookup.com/MLS-090024886-1817_E_Grand_Ave_6_Escondido_CA_92027It is asking for 1987’s price. Does anyone know if it has any problem such as broken HOA or plumbing issues (since it is a 70s building)? How do we check those?
In this area, can a 900 sqft 2 bedroom condo rent for $800? I guess after $250 HOA fee, property tax, and vacancy, $800 would be a number to break even or make some money?
If these homes have cash flow from day one, why investors are not jumping on and let them sit on market so long?
-NicMM
[quote=CA renter][quote=NicMM]Patb, these two pictures are accurate depiction.
Here is the challenge for you. If it’s you, what you would do with $50K?-NicMM
[quote=patb]Don’t call it land investment call it Land Speculation.
To be an investment you need a cash flow and an exit strategy.
Here’s you.” i want to buy 2 acres for $50K and someday sell it”
Here’s an Investor” I am going to buy 10,000 Acres
get the state to build an offramp and the county to build 30 miles of section Road and the city to rezone it, while i rent it to cattle ranchers for cash”Guess who makes money.?[/quote][/quote]
NicMM,
If your heart is set on real estate, $50K would be better spent buying a rental in Escondido or Oceanside (that has positive cashflow from day one) than speculating in desert land. You’ll have to manage and maintain it yourself, but you might make money over time.
My family has a history with both land and rentals/housing investments, and I can say for a fact that existing housing is far, far more profitable than land, with only a very few exceptions.[/quote]
October 1, 2010 at 11:09 PM #612477NicMMParticipantCA renter,
What you said about rental may be true. I saw several around $50k in Escondido.
Like this on in east Escondido,
http://www.sdlookup.com/MLS-090024886-1817_E_Grand_Ave_6_Escondido_CA_92027It is asking for 1987’s price. Does anyone know if it has any problem such as broken HOA or plumbing issues (since it is a 70s building)? How do we check those?
In this area, can a 900 sqft 2 bedroom condo rent for $800? I guess after $250 HOA fee, property tax, and vacancy, $800 would be a number to break even or make some money?
If these homes have cash flow from day one, why investors are not jumping on and let them sit on market so long?
-NicMM
[quote=CA renter][quote=NicMM]Patb, these two pictures are accurate depiction.
Here is the challenge for you. If it’s you, what you would do with $50K?-NicMM
[quote=patb]Don’t call it land investment call it Land Speculation.
To be an investment you need a cash flow and an exit strategy.
Here’s you.” i want to buy 2 acres for $50K and someday sell it”
Here’s an Investor” I am going to buy 10,000 Acres
get the state to build an offramp and the county to build 30 miles of section Road and the city to rezone it, while i rent it to cattle ranchers for cash”Guess who makes money.?[/quote][/quote]
NicMM,
If your heart is set on real estate, $50K would be better spent buying a rental in Escondido or Oceanside (that has positive cashflow from day one) than speculating in desert land. You’ll have to manage and maintain it yourself, but you might make money over time.
My family has a history with both land and rentals/housing investments, and I can say for a fact that existing housing is far, far more profitable than land, with only a very few exceptions.[/quote]
October 1, 2010 at 11:09 PM #612790NicMMParticipantCA renter,
What you said about rental may be true. I saw several around $50k in Escondido.
Like this on in east Escondido,
http://www.sdlookup.com/MLS-090024886-1817_E_Grand_Ave_6_Escondido_CA_92027It is asking for 1987’s price. Does anyone know if it has any problem such as broken HOA or plumbing issues (since it is a 70s building)? How do we check those?
In this area, can a 900 sqft 2 bedroom condo rent for $800? I guess after $250 HOA fee, property tax, and vacancy, $800 would be a number to break even or make some money?
If these homes have cash flow from day one, why investors are not jumping on and let them sit on market so long?
-NicMM
[quote=CA renter][quote=NicMM]Patb, these two pictures are accurate depiction.
Here is the challenge for you. If it’s you, what you would do with $50K?-NicMM
[quote=patb]Don’t call it land investment call it Land Speculation.
To be an investment you need a cash flow and an exit strategy.
Here’s you.” i want to buy 2 acres for $50K and someday sell it”
Here’s an Investor” I am going to buy 10,000 Acres
get the state to build an offramp and the county to build 30 miles of section Road and the city to rezone it, while i rent it to cattle ranchers for cash”Guess who makes money.?[/quote][/quote]
NicMM,
If your heart is set on real estate, $50K would be better spent buying a rental in Escondido or Oceanside (that has positive cashflow from day one) than speculating in desert land. You’ll have to manage and maintain it yourself, but you might make money over time.
My family has a history with both land and rentals/housing investments, and I can say for a fact that existing housing is far, far more profitable than land, with only a very few exceptions.[/quote]
October 2, 2010 at 12:30 AM #611741CA renterParticipant[quote=NicMM]CA renter,
What you said about rental may be true. I saw several around $50k in Escondido.
Like this on in east Escondido,
http://www.sdlookup.com/MLS-090024886-1817_E_Grand_Ave_6_Escondido_CA_92027It is asking for 1987’s price. Does anyone know if it has any problem such as broken HOA or plumbing issues (since it is a 70s building)? How do we check those?
In this area, can a 900 sqft 2 bedroom condo rent for $800? I guess after $250 HOA fee, property tax, and vacancy, $800 would be a number to break even or make some money?
If these homes have cash flow from day one, why investors are not jumping on and let them sit on market so long?
-NicMM
[/quote]
Good question. I’d guess it has HOA problems or some serious structural issues. Maybe it can’t be financed?
Any of our realtors have any info about this property?
October 2, 2010 at 12:30 AM #611828CA renterParticipant[quote=NicMM]CA renter,
What you said about rental may be true. I saw several around $50k in Escondido.
Like this on in east Escondido,
http://www.sdlookup.com/MLS-090024886-1817_E_Grand_Ave_6_Escondido_CA_92027It is asking for 1987’s price. Does anyone know if it has any problem such as broken HOA or plumbing issues (since it is a 70s building)? How do we check those?
In this area, can a 900 sqft 2 bedroom condo rent for $800? I guess after $250 HOA fee, property tax, and vacancy, $800 would be a number to break even or make some money?
If these homes have cash flow from day one, why investors are not jumping on and let them sit on market so long?
-NicMM
[/quote]
Good question. I’d guess it has HOA problems or some serious structural issues. Maybe it can’t be financed?
Any of our realtors have any info about this property?
October 2, 2010 at 12:30 AM #612376CA renterParticipant[quote=NicMM]CA renter,
What you said about rental may be true. I saw several around $50k in Escondido.
Like this on in east Escondido,
http://www.sdlookup.com/MLS-090024886-1817_E_Grand_Ave_6_Escondido_CA_92027It is asking for 1987’s price. Does anyone know if it has any problem such as broken HOA or plumbing issues (since it is a 70s building)? How do we check those?
In this area, can a 900 sqft 2 bedroom condo rent for $800? I guess after $250 HOA fee, property tax, and vacancy, $800 would be a number to break even or make some money?
If these homes have cash flow from day one, why investors are not jumping on and let them sit on market so long?
-NicMM
[/quote]
Good question. I’d guess it has HOA problems or some serious structural issues. Maybe it can’t be financed?
Any of our realtors have any info about this property?
October 2, 2010 at 12:30 AM #612492CA renterParticipant[quote=NicMM]CA renter,
What you said about rental may be true. I saw several around $50k in Escondido.
Like this on in east Escondido,
http://www.sdlookup.com/MLS-090024886-1817_E_Grand_Ave_6_Escondido_CA_92027It is asking for 1987’s price. Does anyone know if it has any problem such as broken HOA or plumbing issues (since it is a 70s building)? How do we check those?
In this area, can a 900 sqft 2 bedroom condo rent for $800? I guess after $250 HOA fee, property tax, and vacancy, $800 would be a number to break even or make some money?
If these homes have cash flow from day one, why investors are not jumping on and let them sit on market so long?
-NicMM
[/quote]
Good question. I’d guess it has HOA problems or some serious structural issues. Maybe it can’t be financed?
Any of our realtors have any info about this property?
October 2, 2010 at 12:30 AM #612805CA renterParticipant[quote=NicMM]CA renter,
What you said about rental may be true. I saw several around $50k in Escondido.
Like this on in east Escondido,
http://www.sdlookup.com/MLS-090024886-1817_E_Grand_Ave_6_Escondido_CA_92027It is asking for 1987’s price. Does anyone know if it has any problem such as broken HOA or plumbing issues (since it is a 70s building)? How do we check those?
In this area, can a 900 sqft 2 bedroom condo rent for $800? I guess after $250 HOA fee, property tax, and vacancy, $800 would be a number to break even or make some money?
If these homes have cash flow from day one, why investors are not jumping on and let them sit on market so long?
-NicMM
[/quote]
Good question. I’d guess it has HOA problems or some serious structural issues. Maybe it can’t be financed?
Any of our realtors have any info about this property?
October 3, 2010 at 10:07 PM #612177socratttParticipantLet me give my two cents as I own over 15,000 acres across the western US and have invested in land for many years. First off land is a dangerous investment in any market if purchasing without a real exit strategy. This downturn has been extremely difficult for one of my companies as we had to shift our entire business plan to accommodate this downturn. Selling land in this climate is nearly impossible unless your goal is to ultimately be the bank.
If you have a plan to sit on a piece of land and hope for future development, you’ve probably got a better chance at winning on the stock market. There are so many different reasons to invest in land, but putting money there in this climate for a long term play could turn out to be a very risky move.
I am a huge proponent of farming and I believe if you have a short term goal of using the land to create income that buying land for this purpose is genius. As a wise man once said, “you can’t eat silver and gold.”
I am working on a number of projects including farming, mining and alternative energy, to name a few. The goal is to think outside the box when looking at a land purchase. In this economic climate you want to look for any short term value. Look at water rights, mineral rights, etc. These are the things that many land buyers fail to miss. Land has much more value than just the surface of the property. In fact the surface may be the least desirable piece of the puzzle in today’s real estate market.
Last, but not least, never listen to someone at a seminar trying to promote a specific area. Do your own due diligence and find out whether or not other savvy investors feel the same. There are a few companies that I am well aware of and some that I’ve done business with that run auctions on a monthly basis and promote land in certain areas merely because they have excess inventory in that area.
At the end of the day, do your own homework. Know that land is a risky move if you really don’t have an exit strategy or see any short term potential. Learn about mineral rights and water rights and how that effects the value of the land and how it could be used to increase the value.
Good luck in your search and don’t let these negative people push you away from the idea of purchasing land. Let this be a lesson that there are no guarantees in life, but your are far more certain to succeed when educating yourself.
October 3, 2010 at 10:07 PM #612264socratttParticipantLet me give my two cents as I own over 15,000 acres across the western US and have invested in land for many years. First off land is a dangerous investment in any market if purchasing without a real exit strategy. This downturn has been extremely difficult for one of my companies as we had to shift our entire business plan to accommodate this downturn. Selling land in this climate is nearly impossible unless your goal is to ultimately be the bank.
If you have a plan to sit on a piece of land and hope for future development, you’ve probably got a better chance at winning on the stock market. There are so many different reasons to invest in land, but putting money there in this climate for a long term play could turn out to be a very risky move.
I am a huge proponent of farming and I believe if you have a short term goal of using the land to create income that buying land for this purpose is genius. As a wise man once said, “you can’t eat silver and gold.”
I am working on a number of projects including farming, mining and alternative energy, to name a few. The goal is to think outside the box when looking at a land purchase. In this economic climate you want to look for any short term value. Look at water rights, mineral rights, etc. These are the things that many land buyers fail to miss. Land has much more value than just the surface of the property. In fact the surface may be the least desirable piece of the puzzle in today’s real estate market.
Last, but not least, never listen to someone at a seminar trying to promote a specific area. Do your own due diligence and find out whether or not other savvy investors feel the same. There are a few companies that I am well aware of and some that I’ve done business with that run auctions on a monthly basis and promote land in certain areas merely because they have excess inventory in that area.
At the end of the day, do your own homework. Know that land is a risky move if you really don’t have an exit strategy or see any short term potential. Learn about mineral rights and water rights and how that effects the value of the land and how it could be used to increase the value.
Good luck in your search and don’t let these negative people push you away from the idea of purchasing land. Let this be a lesson that there are no guarantees in life, but your are far more certain to succeed when educating yourself.
October 3, 2010 at 10:07 PM #612812socratttParticipantLet me give my two cents as I own over 15,000 acres across the western US and have invested in land for many years. First off land is a dangerous investment in any market if purchasing without a real exit strategy. This downturn has been extremely difficult for one of my companies as we had to shift our entire business plan to accommodate this downturn. Selling land in this climate is nearly impossible unless your goal is to ultimately be the bank.
If you have a plan to sit on a piece of land and hope for future development, you’ve probably got a better chance at winning on the stock market. There are so many different reasons to invest in land, but putting money there in this climate for a long term play could turn out to be a very risky move.
I am a huge proponent of farming and I believe if you have a short term goal of using the land to create income that buying land for this purpose is genius. As a wise man once said, “you can’t eat silver and gold.”
I am working on a number of projects including farming, mining and alternative energy, to name a few. The goal is to think outside the box when looking at a land purchase. In this economic climate you want to look for any short term value. Look at water rights, mineral rights, etc. These are the things that many land buyers fail to miss. Land has much more value than just the surface of the property. In fact the surface may be the least desirable piece of the puzzle in today’s real estate market.
Last, but not least, never listen to someone at a seminar trying to promote a specific area. Do your own due diligence and find out whether or not other savvy investors feel the same. There are a few companies that I am well aware of and some that I’ve done business with that run auctions on a monthly basis and promote land in certain areas merely because they have excess inventory in that area.
At the end of the day, do your own homework. Know that land is a risky move if you really don’t have an exit strategy or see any short term potential. Learn about mineral rights and water rights and how that effects the value of the land and how it could be used to increase the value.
Good luck in your search and don’t let these negative people push you away from the idea of purchasing land. Let this be a lesson that there are no guarantees in life, but your are far more certain to succeed when educating yourself.
October 3, 2010 at 10:07 PM #612929socratttParticipantLet me give my two cents as I own over 15,000 acres across the western US and have invested in land for many years. First off land is a dangerous investment in any market if purchasing without a real exit strategy. This downturn has been extremely difficult for one of my companies as we had to shift our entire business plan to accommodate this downturn. Selling land in this climate is nearly impossible unless your goal is to ultimately be the bank.
If you have a plan to sit on a piece of land and hope for future development, you’ve probably got a better chance at winning on the stock market. There are so many different reasons to invest in land, but putting money there in this climate for a long term play could turn out to be a very risky move.
I am a huge proponent of farming and I believe if you have a short term goal of using the land to create income that buying land for this purpose is genius. As a wise man once said, “you can’t eat silver and gold.”
I am working on a number of projects including farming, mining and alternative energy, to name a few. The goal is to think outside the box when looking at a land purchase. In this economic climate you want to look for any short term value. Look at water rights, mineral rights, etc. These are the things that many land buyers fail to miss. Land has much more value than just the surface of the property. In fact the surface may be the least desirable piece of the puzzle in today’s real estate market.
Last, but not least, never listen to someone at a seminar trying to promote a specific area. Do your own due diligence and find out whether or not other savvy investors feel the same. There are a few companies that I am well aware of and some that I’ve done business with that run auctions on a monthly basis and promote land in certain areas merely because they have excess inventory in that area.
At the end of the day, do your own homework. Know that land is a risky move if you really don’t have an exit strategy or see any short term potential. Learn about mineral rights and water rights and how that effects the value of the land and how it could be used to increase the value.
Good luck in your search and don’t let these negative people push you away from the idea of purchasing land. Let this be a lesson that there are no guarantees in life, but your are far more certain to succeed when educating yourself.
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