Tough call in Murrieta

[bluefins]

Thank you Piggington’s. You guys are awesome!

Someone ask about income and jobs. My wife and I both teach. Combined income of 170K. We have each taught for about 10 years and feel relatively secure. Although the 14 billion dollar deficit sounds frightening. And then as teachers like to say you’re only as good as your last set of test scores! lol

Im not surprised by the comment about investing out of state. I am origionally from Indiana and was back there recently for a funeral. In the the sleepy little farm town there are houses that cost about 60 k that rent from $600- $700 per month. This amount compared to what I get from my 60 k in the bank sounds pretty good. I know there are always those that say why buy one when you can buy ten. But I’m not looking for anything other than a check in the mail each month.

In a perfect world we would buy and pay for one of these a year and continually add to our income. The dilemma for me is that by taking the plunge with the house here, that this plan is not likely. I have made the statement lately to my kids that it is no fun being a grownup and having to make this kind of decision. It seems so obvious until you throw in the desires of a few others. lol

[Coronita]

Someone ask about income and jobs. My wife and I both teach. Combined income of 170K. We have each taught for about 10 years and feel relatively secure. Although the 14 billion dollar deficit sounds frightening. And then as teachers like to say you're only as good as your last set of test scores! lol

Im not surprised by the comment about investing out of state. I am origionally from Indiana and was back there recently for a funeral. In the the sleepy little farm town there are houses that cost about 60 k that rent from $600- $700 per month. This amount compared to what I get from my 60 k in the bank sounds pretty good. I know there are always those that say why buy one when you can buy ten. But I'm not looking for anything other than a check in the mail each month.

In a perfect world we would buy and pay for one of these a year and continually add to our income. The dilemma for me is that by taking the plunge with the house here, that this plan is not likely. I have made the statement lately to my kids that it is no fun being a grownup and having to make this kind of decision. It seems so obvious until you throw in the desires of a few others. lol

 

When do your kids go to college, and have you saved up for that? 

[Coronita]

Someone ask about income and jobs. My wife and I both teach. Combined income of 170K. We have each taught for about 10 years and feel relatively secure. Although the 14 billion dollar deficit sounds frightening. And then as teachers like to say you're only as good as your last set of test scores! lol

Im not surprised by the comment about investing out of state. I am origionally from Indiana and was back there recently for a funeral. In the the sleepy little farm town there are houses that cost about 60 k that rent from $600- $700 per month. This amount compared to what I get from my 60 k in the bank sounds pretty good. I know there are always those that say why buy one when you can buy ten. But I'm not looking for anything other than a check in the mail each month.

In a perfect world we would buy and pay for one of these a year and continually add to our income. The dilemma for me is that by taking the plunge with the house here, that this plan is not likely. I have made the statement lately to my kids that it is no fun being a grownup and having to make this kind of decision. It seems so obvious until you throw in the desires of a few others. lol

 

When do your kids go to college, and have you saved up for that? 

[Coronita]

Someone ask about income and jobs. My wife and I both teach. Combined income of 170K. We have each taught for about 10 years and feel relatively secure. Although the 14 billion dollar deficit sounds frightening. And then as teachers like to say you're only as good as your last set of test scores! lol

Im not surprised by the comment about investing out of state. I am origionally from Indiana and was back there recently for a funeral. In the the sleepy little farm town there are houses that cost about 60 k that rent from $600- $700 per month. This amount compared to what I get from my 60 k in the bank sounds pretty good. I know there are always those that say why buy one when you can buy ten. But I'm not looking for anything other than a check in the mail each month.

In a perfect world we would buy and pay for one of these a year and continually add to our income. The dilemma for me is that by taking the plunge with the house here, that this plan is not likely. I have made the statement lately to my kids that it is no fun being a grownup and having to make this kind of decision. It seems so obvious until you throw in the desires of a few others. lol

 

When do your kids go to college, and have you saved up for that? 

[Coronita]

Someone ask about income and jobs. My wife and I both teach. Combined income of 170K. We have each taught for about 10 years and feel relatively secure. Although the 14 billion dollar deficit sounds frightening. And then as teachers like to say you're only as good as your last set of test scores! lol

Im not surprised by the comment about investing out of state. I am origionally from Indiana and was back there recently for a funeral. In the the sleepy little farm town there are houses that cost about 60 k that rent from $600- $700 per month. This amount compared to what I get from my 60 k in the bank sounds pretty good. I know there are always those that say why buy one when you can buy ten. But I'm not looking for anything other than a check in the mail each month.

In a perfect world we would buy and pay for one of these a year and continually add to our income. The dilemma for me is that by taking the plunge with the house here, that this plan is not likely. I have made the statement lately to my kids that it is no fun being a grownup and having to make this kind of decision. It seems so obvious until you throw in the desires of a few others. lol

 

When do your kids go to college, and have you saved up for that? 

[Coronita]

Someone ask about income and jobs. My wife and I both teach. Combined income of 170K. We have each taught for about 10 years and feel relatively secure. Although the 14 billion dollar deficit sounds frightening. And then as teachers like to say you're only as good as your last set of test scores! lol

Im not surprised by the comment about investing out of state. I am origionally from Indiana and was back there recently for a funeral. In the the sleepy little farm town there are houses that cost about 60 k that rent from $600- $700 per month. This amount compared to what I get from my 60 k in the bank sounds pretty good. I know there are always those that say why buy one when you can buy ten. But I'm not looking for anything other than a check in the mail each month.

In a perfect world we would buy and pay for one of these a year and continually add to our income. The dilemma for me is that by taking the plunge with the house here, that this plan is not likely. I have made the statement lately to my kids that it is no fun being a grownup and having to make this kind of decision. It seems so obvious until you throw in the desires of a few others. lol

 

When do your kids go to college, and have you saved up for that? 

[HLS]

Blue,
It’s not a matter of buying one or buying 10.
Realistically, it’s buying 3 or 4 with financing instead of 1, which can lead to better cash flow from the same initial investment. You can benefit from appreciation or suffer from depreciation.

I fully understand property in sleepy little towns in the midwest. Vacancies can be hard to fill, esp with quality tenants, in a “sleepy little farm town”
They often have very little chance of appreciating much.
For $60K, I don’t think that you get perfect condition, and upkeep, taxes, insurance and absentee management will greatly eat into your returns.

Is there a reason why the properties remain unsold when the return appears to be so good ?
Plenty of local farmers have plenty of money. Are they snapping up these houses for the great returns ?

Although your idea is good, I think that the premise of your plan is flawed.

If you can’t do both, what’s more important to you;
your long term goal which may become a disappointment
OR
Having your affordable dream home for your family to reside.

[HLS]

Blue,
It’s not a matter of buying one or buying 10.
Realistically, it’s buying 3 or 4 with financing instead of 1, which can lead to better cash flow from the same initial investment. You can benefit from appreciation or suffer from depreciation.

I fully understand property in sleepy little towns in the midwest. Vacancies can be hard to fill, esp with quality tenants, in a “sleepy little farm town”
They often have very little chance of appreciating much.
For $60K, I don’t think that you get perfect condition, and upkeep, taxes, insurance and absentee management will greatly eat into your returns.

Is there a reason why the properties remain unsold when the return appears to be so good ?
Plenty of local farmers have plenty of money. Are they snapping up these houses for the great returns ?

Although your idea is good, I think that the premise of your plan is flawed.

If you can’t do both, what’s more important to you;
your long term goal which may become a disappointment
OR
Having your affordable dream home for your family to reside.

[HLS]

Blue,
It’s not a matter of buying one or buying 10.
Realistically, it’s buying 3 or 4 with financing instead of 1, which can lead to better cash flow from the same initial investment. You can benefit from appreciation or suffer from depreciation.

I fully understand property in sleepy little towns in the midwest. Vacancies can be hard to fill, esp with quality tenants, in a “sleepy little farm town”
They often have very little chance of appreciating much.
For $60K, I don’t think that you get perfect condition, and upkeep, taxes, insurance and absentee management will greatly eat into your returns.

Is there a reason why the properties remain unsold when the return appears to be so good ?
Plenty of local farmers have plenty of money. Are they snapping up these houses for the great returns ?

Although your idea is good, I think that the premise of your plan is flawed.

If you can’t do both, what’s more important to you;
your long term goal which may become a disappointment
OR
Having your affordable dream home for your family to reside.

[HLS]

Blue,
It’s not a matter of buying one or buying 10.
Realistically, it’s buying 3 or 4 with financing instead of 1, which can lead to better cash flow from the same initial investment. You can benefit from appreciation or suffer from depreciation.

I fully understand property in sleepy little towns in the midwest. Vacancies can be hard to fill, esp with quality tenants, in a “sleepy little farm town”
They often have very little chance of appreciating much.
For $60K, I don’t think that you get perfect condition, and upkeep, taxes, insurance and absentee management will greatly eat into your returns.

Is there a reason why the properties remain unsold when the return appears to be so good ?
Plenty of local farmers have plenty of money. Are they snapping up these houses for the great returns ?

Although your idea is good, I think that the premise of your plan is flawed.

If you can’t do both, what’s more important to you;
your long term goal which may become a disappointment
OR
Having your affordable dream home for your family to reside.

[HLS]

Blue,
It’s not a matter of buying one or buying 10.
Realistically, it’s buying 3 or 4 with financing instead of 1, which can lead to better cash flow from the same initial investment. You can benefit from appreciation or suffer from depreciation.

I fully understand property in sleepy little towns in the midwest. Vacancies can be hard to fill, esp with quality tenants, in a “sleepy little farm town”
They often have very little chance of appreciating much.
For $60K, I don’t think that you get perfect condition, and upkeep, taxes, insurance and absentee management will greatly eat into your returns.

Is there a reason why the properties remain unsold when the return appears to be so good ?
Plenty of local farmers have plenty of money. Are they snapping up these houses for the great returns ?

Although your idea is good, I think that the premise of your plan is flawed.

If you can’t do both, what’s more important to you;
your long term goal which may become a disappointment
OR
Having your affordable dream home for your family to reside.

[bluefins]

My oldest is a junior in H.S. I also have a sophomore, a 6th grader and a 4th grader. I have not saved for their college. I was actually thinking I would by them each a house someplace like Indiana. When each of them graduate I would turn over the deed to the property and they could use the income to pay off their student loans. Their education would be funded in their name and if they dont graduate, they would be responsible for it.

Worst case scenario would be JC or at the very least supplement their college experience with classes from city etc.

I’m sure these scenarios are full of holes, but when both parents are educators all options have to be on the table.

[bluefins]

My oldest is a junior in H.S. I also have a sophomore, a 6th grader and a 4th grader. I have not saved for their college. I was actually thinking I would by them each a house someplace like Indiana. When each of them graduate I would turn over the deed to the property and they could use the income to pay off their student loans. Their education would be funded in their name and if they dont graduate, they would be responsible for it.

Worst case scenario would be JC or at the very least supplement their college experience with classes from city etc.

I’m sure these scenarios are full of holes, but when both parents are educators all options have to be on the table.

[bluefins]

My oldest is a junior in H.S. I also have a sophomore, a 6th grader and a 4th grader. I have not saved for their college. I was actually thinking I would by them each a house someplace like Indiana. When each of them graduate I would turn over the deed to the property and they could use the income to pay off their student loans. Their education would be funded in their name and if they dont graduate, they would be responsible for it.

Worst case scenario would be JC or at the very least supplement their college experience with classes from city etc.

I’m sure these scenarios are full of holes, but when both parents are educators all options have to be on the table.

[bluefins]

My oldest is a junior in H.S. I also have a sophomore, a 6th grader and a 4th grader. I have not saved for their college. I was actually thinking I would by them each a house someplace like Indiana. When each of them graduate I would turn over the deed to the property and they could use the income to pay off their student loans. Their education would be funded in their name and if they dont graduate, they would be responsible for it.

Worst case scenario would be JC or at the very least supplement their college experience with classes from city etc.

I’m sure these scenarios are full of holes, but when both parents are educators all options have to be on the table.

[Author]

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