Renting for 2 years-The Story

[desmond]

Since we sold our Valencia home (10/2005)we have been renting for the first time in over 20 years. It has not been easy. Our first rental was a brand new (KB) home the LL bought for an investment. $2500/month, within a month the house next door turned into a frat/NASCAR house. Pure hell. Summer utilities hit over $500 a month. After a year we moved to a smaller home across the alley for $2000/month and far enough away from the frat house. After this year lease expired this LL did not contact us to renew or have us move out. She has not paid the 2006 property taxes. We are now signing a year lease on another property and moving in January. $2500/ month but a really nice home in a better neighborhood. Most of my neighbors here are renting month to month with no word from their LL’s, some are living in homes that are for sale. I have two kids but both will be out of state in college next year. I can’t imagine doing this with younger kids. Financially yes, but most everything else with renting really sucks.

[HLS]

If you banked a profit from the sale of your Valencia home, it has probably dropped $100K-$150K or more in value in 2 years.
You should be collecting at least 5% interest on your cash.
If you had gains, it was tax free up to the limits.

You are probably renting for 50% of what the true cost of ownership at today’s price is, so you are saving every month that you rent.

A house that you BOUGHT could have been next to a frat house and a house that you BOUGHT could have had utility bills at $500 in summer, so you cannot attribute those issues to renting.

Your choices of rentals have been piss poor.
There are plenty of responsible landlords with excellent properties, (who are losing money monthly by owning today) looking for good, long term tenants.

Had you picked better, you would still be in the same rental that you moved to after you sold two years ago.

You have probably saved at least $200K-$250K of net worth by doing what you did.

I know plenty of people who wish that they would have done what you did, and not be complaining about it today, even after what you have gone through.

Saving $200K+ of net worth even with younger kids really isn’t so difficult.

a)Are you complaining ?

b)Are you trying to make a point ?

PS: I guess that nobody told you that moving into a brand new house owned by inexperienced LL’s that are going to lose their a$$ in the biggest real estate downturn in history isn’t a good idea.

You not only did it once, you did it twice, and possibly the same mistake a third time ?

[HLS]

If you banked a profit from the sale of your Valencia home, it has probably dropped $100K-$150K or more in value in 2 years.
You should be collecting at least 5% interest on your cash.
If you had gains, it was tax free up to the limits.

You are probably renting for 50% of what the true cost of ownership at today’s price is, so you are saving every month that you rent.

A house that you BOUGHT could have been next to a frat house and a house that you BOUGHT could have had utility bills at $500 in summer, so you cannot attribute those issues to renting.

Your choices of rentals have been piss poor.
There are plenty of responsible landlords with excellent properties, (who are losing money monthly by owning today) looking for good, long term tenants.

Had you picked better, you would still be in the same rental that you moved to after you sold two years ago.

You have probably saved at least $200K-$250K of net worth by doing what you did.

I know plenty of people who wish that they would have done what you did, and not be complaining about it today, even after what you have gone through.

Saving $200K+ of net worth even with younger kids really isn’t so difficult.

a)Are you complaining ?

b)Are you trying to make a point ?

PS: I guess that nobody told you that moving into a brand new house owned by inexperienced LL’s that are going to lose their a$$ in the biggest real estate downturn in history isn’t a good idea.

You not only did it once, you did it twice, and possibly the same mistake a third time ?

[HLS]

If you banked a profit from the sale of your Valencia home, it has probably dropped $100K-$150K or more in value in 2 years.
You should be collecting at least 5% interest on your cash.
If you had gains, it was tax free up to the limits.

You are probably renting for 50% of what the true cost of ownership at today’s price is, so you are saving every month that you rent.

A house that you BOUGHT could have been next to a frat house and a house that you BOUGHT could have had utility bills at $500 in summer, so you cannot attribute those issues to renting.

Your choices of rentals have been piss poor.
There are plenty of responsible landlords with excellent properties, (who are losing money monthly by owning today) looking for good, long term tenants.

Had you picked better, you would still be in the same rental that you moved to after you sold two years ago.

You have probably saved at least $200K-$250K of net worth by doing what you did.

I know plenty of people who wish that they would have done what you did, and not be complaining about it today, even after what you have gone through.

Saving $200K+ of net worth even with younger kids really isn’t so difficult.

a)Are you complaining ?

b)Are you trying to make a point ?

PS: I guess that nobody told you that moving into a brand new house owned by inexperienced LL’s that are going to lose their a$$ in the biggest real estate downturn in history isn’t a good idea.

You not only did it once, you did it twice, and possibly the same mistake a third time ?

[HLS]

If you banked a profit from the sale of your Valencia home, it has probably dropped $100K-$150K or more in value in 2 years.
You should be collecting at least 5% interest on your cash.
If you had gains, it was tax free up to the limits.

You are probably renting for 50% of what the true cost of ownership at today’s price is, so you are saving every month that you rent.

A house that you BOUGHT could have been next to a frat house and a house that you BOUGHT could have had utility bills at $500 in summer, so you cannot attribute those issues to renting.

Your choices of rentals have been piss poor.
There are plenty of responsible landlords with excellent properties, (who are losing money monthly by owning today) looking for good, long term tenants.

Had you picked better, you would still be in the same rental that you moved to after you sold two years ago.

You have probably saved at least $200K-$250K of net worth by doing what you did.

I know plenty of people who wish that they would have done what you did, and not be complaining about it today, even after what you have gone through.

Saving $200K+ of net worth even with younger kids really isn’t so difficult.

a)Are you complaining ?

b)Are you trying to make a point ?

PS: I guess that nobody told you that moving into a brand new house owned by inexperienced LL’s that are going to lose their a$$ in the biggest real estate downturn in history isn’t a good idea.

You not only did it once, you did it twice, and possibly the same mistake a third time ?

[HLS]

If you banked a profit from the sale of your Valencia home, it has probably dropped $100K-$150K or more in value in 2 years.
You should be collecting at least 5% interest on your cash.
If you had gains, it was tax free up to the limits.

You are probably renting for 50% of what the true cost of ownership at today’s price is, so you are saving every month that you rent.

A house that you BOUGHT could have been next to a frat house and a house that you BOUGHT could have had utility bills at $500 in summer, so you cannot attribute those issues to renting.

Your choices of rentals have been piss poor.
There are plenty of responsible landlords with excellent properties, (who are losing money monthly by owning today) looking for good, long term tenants.

Had you picked better, you would still be in the same rental that you moved to after you sold two years ago.

You have probably saved at least $200K-$250K of net worth by doing what you did.

I know plenty of people who wish that they would have done what you did, and not be complaining about it today, even after what you have gone through.

Saving $200K+ of net worth even with younger kids really isn’t so difficult.

a)Are you complaining ?

b)Are you trying to make a point ?

PS: I guess that nobody told you that moving into a brand new house owned by inexperienced LL’s that are going to lose their a$$ in the biggest real estate downturn in history isn’t a good idea.

You not only did it once, you did it twice, and possibly the same mistake a third time ?

[SD Realtor]

a)Are you complaining ?

b)Are you trying to make a point ?

Yes the poster is complaining and yes I understood her point completely. Sorry if you didn’t understand the point she was trying to make.

SD Realtor

[SD Realtor]

a)Are you complaining ?

b)Are you trying to make a point ?

Yes the poster is complaining and yes I understood her point completely. Sorry if you didn’t understand the point she was trying to make.

SD Realtor

[SD Realtor]

a)Are you complaining ?

b)Are you trying to make a point ?

Yes the poster is complaining and yes I understood her point completely. Sorry if you didn’t understand the point she was trying to make.

SD Realtor

[SD Realtor]

a)Are you complaining ?

b)Are you trying to make a point ?

Yes the poster is complaining and yes I understood her point completely. Sorry if you didn’t understand the point she was trying to make.

SD Realtor

[SD Realtor]

a)Are you complaining ?

b)Are you trying to make a point ?

Yes the poster is complaining and yes I understood her point completely. Sorry if you didn’t understand the point she was trying to make.

SD Realtor

[cashman]

I echo your sentiment…renting does suck, but it sure helps to ease the pain looking at my bank statements every month! I sold my home in 11/05, about the same as you, and like you haven’t rented for over twenty years. Making the psychological shift was the first step, then counting all the money I’m saving is the second. In my case, my home probably is still a couple of hundred thousand more today than when I sold it (LA county), but from a cash flow perspective, I’m doing OK. And I know sooner or later the cards will fall in LA. Then I’ll be dancing. The hardest thing for me about renting is not being able to show pride of ownership, which is important to me. I’m referring to little things, like being able to drill into the walls to install that killer home theater system, or put in some nice designer drapes, or plant some special fruit trees in the back yard and watch them grow. We are definitely deprived in some ways as renters, but just keep looking at your bank statements and count your blessings.

[cashman]

I echo your sentiment…renting does suck, but it sure helps to ease the pain looking at my bank statements every month! I sold my home in 11/05, about the same as you, and like you haven’t rented for over twenty years. Making the psychological shift was the first step, then counting all the money I’m saving is the second. In my case, my home probably is still a couple of hundred thousand more today than when I sold it (LA county), but from a cash flow perspective, I’m doing OK. And I know sooner or later the cards will fall in LA. Then I’ll be dancing. The hardest thing for me about renting is not being able to show pride of ownership, which is important to me. I’m referring to little things, like being able to drill into the walls to install that killer home theater system, or put in some nice designer drapes, or plant some special fruit trees in the back yard and watch them grow. We are definitely deprived in some ways as renters, but just keep looking at your bank statements and count your blessings.

[cashman]

I echo your sentiment…renting does suck, but it sure helps to ease the pain looking at my bank statements every month! I sold my home in 11/05, about the same as you, and like you haven’t rented for over twenty years. Making the psychological shift was the first step, then counting all the money I’m saving is the second. In my case, my home probably is still a couple of hundred thousand more today than when I sold it (LA county), but from a cash flow perspective, I’m doing OK. And I know sooner or later the cards will fall in LA. Then I’ll be dancing. The hardest thing for me about renting is not being able to show pride of ownership, which is important to me. I’m referring to little things, like being able to drill into the walls to install that killer home theater system, or put in some nice designer drapes, or plant some special fruit trees in the back yard and watch them grow. We are definitely deprived in some ways as renters, but just keep looking at your bank statements and count your blessings.

[cashman]

I echo your sentiment…renting does suck, but it sure helps to ease the pain looking at my bank statements every month! I sold my home in 11/05, about the same as you, and like you haven’t rented for over twenty years. Making the psychological shift was the first step, then counting all the money I’m saving is the second. In my case, my home probably is still a couple of hundred thousand more today than when I sold it (LA county), but from a cash flow perspective, I’m doing OK. And I know sooner or later the cards will fall in LA. Then I’ll be dancing. The hardest thing for me about renting is not being able to show pride of ownership, which is important to me. I’m referring to little things, like being able to drill into the walls to install that killer home theater system, or put in some nice designer drapes, or plant some special fruit trees in the back yard and watch them grow. We are definitely deprived in some ways as renters, but just keep looking at your bank statements and count your blessings.

[Author]

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