Real estate addiction

[an]

[quote=sdcellar]Do you run into much that even comes close to that? I see two properties for ~$258, but neither of those look like they’d fetch near $1700 a month in rent. Also, at that price ($250ish), it still seems like a borderline money losing situation.

And that’s after you’ve plunked down around $30K (I assume one has to put at least 10% down, maybe that’s not right?).

At $200K, you’d do better, but probably couldn’t exact the same rent either.[/quote]
Nope, not even close. They all are around 325-375k now. Was around 300-350k late 2008.

With 250k, 20% down & 5% interest rate, PITI would be around $1400/month. If it rents for $1700/month, that’s $3600/year in profit. From a $50k investment. That’s 6% return before talking about any write offs. That sounds pretty decent to me. At $200k, we’re looking at ~$6500/yr. That’s over 10% return.

[SD Realtor]

Personally I see tremendous opportunity in anything related to senior care. Talk about a growth field. Plenty of numbers there.

[SD Realtor]

Personally I see tremendous opportunity in anything related to senior care. Talk about a growth field. Plenty of numbers there.

[SD Realtor]

Personally I see tremendous opportunity in anything related to senior care. Talk about a growth field. Plenty of numbers there.

[SD Realtor]

Personally I see tremendous opportunity in anything related to senior care. Talk about a growth field. Plenty of numbers there.

[SD Realtor]

Personally I see tremendous opportunity in anything related to senior care. Talk about a growth field. Plenty of numbers there.

[sdcellar]

[quote=AN]Nope, not even close. They all are around 325-375k now. Was around 300-350k late 2008.[/quote]So, I guess you don’t spend *too* much time searching. It’s actually an entertaining little search in Redfin…

[quote=AN]With 250k, 20% down & 5% interest rate, PITI would be around $1400/month. If it rents for $1700/month, that’s $3600/year in profit. From a $50k investment. That’s 6% return before talking about any write offs. That sounds pretty decent to me. At $200k, we’re looking at ~$6500/yr. That’s over 10% return.[/quote]What writeoffs? Depreciation and expenses of course, but it’s the latter that’s not being considered at all. To me, a safe figure for annual “overhead” is around 5% of rental income. This covers things like maintenance and gaps in tenancy. So, again seems breakeven to me at best and you’re out 50 grand.

Obviously better at $200K, but I also suppose once prices do get back down to those ranges, the possibility of actual appreciation seems to become more likely.

[sdcellar]

[quote=AN]Nope, not even close. They all are around 325-375k now. Was around 300-350k late 2008.[/quote]So, I guess you don’t spend *too* much time searching. It’s actually an entertaining little search in Redfin…

[quote=AN]With 250k, 20% down & 5% interest rate, PITI would be around $1400/month. If it rents for $1700/month, that’s $3600/year in profit. From a $50k investment. That’s 6% return before talking about any write offs. That sounds pretty decent to me. At $200k, we’re looking at ~$6500/yr. That’s over 10% return.[/quote]What writeoffs? Depreciation and expenses of course, but it’s the latter that’s not being considered at all. To me, a safe figure for annual “overhead” is around 5% of rental income. This covers things like maintenance and gaps in tenancy. So, again seems breakeven to me at best and you’re out 50 grand.

Obviously better at $200K, but I also suppose once prices do get back down to those ranges, the possibility of actual appreciation seems to become more likely.

[sdcellar]

[quote=AN]Nope, not even close. They all are around 325-375k now. Was around 300-350k late 2008.[/quote]So, I guess you don’t spend *too* much time searching. It’s actually an entertaining little search in Redfin…

[quote=AN]With 250k, 20% down & 5% interest rate, PITI would be around $1400/month. If it rents for $1700/month, that’s $3600/year in profit. From a $50k investment. That’s 6% return before talking about any write offs. That sounds pretty decent to me. At $200k, we’re looking at ~$6500/yr. That’s over 10% return.[/quote]What writeoffs? Depreciation and expenses of course, but it’s the latter that’s not being considered at all. To me, a safe figure for annual “overhead” is around 5% of rental income. This covers things like maintenance and gaps in tenancy. So, again seems breakeven to me at best and you’re out 50 grand.

Obviously better at $200K, but I also suppose once prices do get back down to those ranges, the possibility of actual appreciation seems to become more likely.

[sdcellar]

[quote=AN]Nope, not even close. They all are around 325-375k now. Was around 300-350k late 2008.[/quote]So, I guess you don’t spend *too* much time searching. It’s actually an entertaining little search in Redfin…

[quote=AN]With 250k, 20% down & 5% interest rate, PITI would be around $1400/month. If it rents for $1700/month, that’s $3600/year in profit. From a $50k investment. That’s 6% return before talking about any write offs. That sounds pretty decent to me. At $200k, we’re looking at ~$6500/yr. That’s over 10% return.[/quote]What writeoffs? Depreciation and expenses of course, but it’s the latter that’s not being considered at all. To me, a safe figure for annual “overhead” is around 5% of rental income. This covers things like maintenance and gaps in tenancy. So, again seems breakeven to me at best and you’re out 50 grand.

Obviously better at $200K, but I also suppose once prices do get back down to those ranges, the possibility of actual appreciation seems to become more likely.

[sdcellar]

[quote=AN]Nope, not even close. They all are around 325-375k now. Was around 300-350k late 2008.[/quote]So, I guess you don’t spend *too* much time searching. It’s actually an entertaining little search in Redfin…

[quote=AN]With 250k, 20% down & 5% interest rate, PITI would be around $1400/month. If it rents for $1700/month, that’s $3600/year in profit. From a $50k investment. That’s 6% return before talking about any write offs. That sounds pretty decent to me. At $200k, we’re looking at ~$6500/yr. That’s over 10% return.[/quote]What writeoffs? Depreciation and expenses of course, but it’s the latter that’s not being considered at all. To me, a safe figure for annual “overhead” is around 5% of rental income. This covers things like maintenance and gaps in tenancy. So, again seems breakeven to me at best and you’re out 50 grand.

Obviously better at $200K, but I also suppose once prices do get back down to those ranges, the possibility of actual appreciation seems to become more likely.

[sdcellar]

(oh, and don’t you have to pay taxes on those profits too? I guess I just don’t know to much about all this land baron stuff. Mostly, I guess, because I’ve never seriously considered it. and the reason I was asking in the first place)

[sdcellar]

(oh, and don’t you have to pay taxes on those profits too? I guess I just don’t know to much about all this land baron stuff. Mostly, I guess, because I’ve never seriously considered it. and the reason I was asking in the first place)

[sdcellar]

(oh, and don’t you have to pay taxes on those profits too? I guess I just don’t know to much about all this land baron stuff. Mostly, I guess, because I’ve never seriously considered it. and the reason I was asking in the first place)

[sdcellar]

(oh, and don’t you have to pay taxes on those profits too? I guess I just don’t know to much about all this land baron stuff. Mostly, I guess, because I’ve never seriously considered it. and the reason I was asking in the first place)

[Author]

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