Tough call in Murrieta

[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.

[pizzaman]

Hey Bluefins looks like we are neighbors. From your property description its apparent that you are referring to Bremerton. Currently I am renting in the project. If you have been following he recent sales you have probably noticed that the REO prices have been coming down in chunks. If the street I live on is any indication this project still has some rough times ahead. I know of at least 3 homes on my street that are likely headed to foreclosure.
Having said that 450k on the creek is pretty attractive (today).
Would I be right to guess the house is on Whitaker? That would be my preferred side of the project away from the noise and traffic from he schools.
Make sure that you are comfortable with the property tax and HOA fees, there pretty high even for Murrieta.

[pizzaman]

Hey Bluefins looks like we are neighbors. From your property description its apparent that you are referring to Bremerton. Currently I am renting in the project. If you have been following he recent sales you have probably noticed that the REO prices have been coming down in chunks. If the street I live on is any indication this project still has some rough times ahead. I know of at least 3 homes on my street that are likely headed to foreclosure.
Having said that 450k on the creek is pretty attractive (today).
Would I be right to guess the house is on Whitaker? That would be my preferred side of the project away from the noise and traffic from he schools.
Make sure that you are comfortable with the property tax and HOA fees, there pretty high even for Murrieta.

[pizzaman]

Hey Bluefins looks like we are neighbors. From your property description its apparent that you are referring to Bremerton. Currently I am renting in the project. If you have been following he recent sales you have probably noticed that the REO prices have been coming down in chunks. If the street I live on is any indication this project still has some rough times ahead. I know of at least 3 homes on my street that are likely headed to foreclosure.
Having said that 450k on the creek is pretty attractive (today).
Would I be right to guess the house is on Whitaker? That would be my preferred side of the project away from the noise and traffic from he schools.
Make sure that you are comfortable with the property tax and HOA fees, there pretty high even for Murrieta.

[pizzaman]

Hey Bluefins looks like we are neighbors. From your property description its apparent that you are referring to Bremerton. Currently I am renting in the project. If you have been following he recent sales you have probably noticed that the REO prices have been coming down in chunks. If the street I live on is any indication this project still has some rough times ahead. I know of at least 3 homes on my street that are likely headed to foreclosure.
Having said that 450k on the creek is pretty attractive (today).
Would I be right to guess the house is on Whitaker? That would be my preferred side of the project away from the noise and traffic from he schools.
Make sure that you are comfortable with the property tax and HOA fees, there pretty high even for Murrieta.

[pizzaman]

Hey Bluefins looks like we are neighbors. From your property description its apparent that you are referring to Bremerton. Currently I am renting in the project. If you have been following he recent sales you have probably noticed that the REO prices have been coming down in chunks. If the street I live on is any indication this project still has some rough times ahead. I know of at least 3 homes on my street that are likely headed to foreclosure.
Having said that 450k on the creek is pretty attractive (today).
Would I be right to guess the house is on Whitaker? That would be my preferred side of the project away from the noise and traffic from he schools.
Make sure that you are comfortable with the property tax and HOA fees, there pretty high even for Murrieta.

[bluefins]

pizza,

Its the third house from the end! The taxes are the reason we bailed the first time. At 650 k the taxes would have been 14.4k. The origional owner would have paid over 15k. Based on the current numbers would be 9k which is still horrific. Another thing is that Im tired of writing those 20 k checks to the IRS.

[bluefins]

pizza,

Its the third house from the end! The taxes are the reason we bailed the first time. At 650 k the taxes would have been 14.4k. The origional owner would have paid over 15k. Based on the current numbers would be 9k which is still horrific. Another thing is that Im tired of writing those 20 k checks to the IRS.

[bluefins]

pizza,

Its the third house from the end! The taxes are the reason we bailed the first time. At 650 k the taxes would have been 14.4k. The origional owner would have paid over 15k. Based on the current numbers would be 9k which is still horrific. Another thing is that Im tired of writing those 20 k checks to the IRS.

[bluefins]

pizza,

Its the third house from the end! The taxes are the reason we bailed the first time. At 650 k the taxes would have been 14.4k. The origional owner would have paid over 15k. Based on the current numbers would be 9k which is still horrific. Another thing is that Im tired of writing those 20 k checks to the IRS.

[bluefins]

pizza,

Its the third house from the end! The taxes are the reason we bailed the first time. At 650 k the taxes would have been 14.4k. The origional owner would have paid over 15k. Based on the current numbers would be 9k which is still horrific. Another thing is that Im tired of writing those 20 k checks to the IRS.

[surveyor]

indiana out-of-state investing

According to my information and research, Indiana real estate (and the whole area around it) appreciation tends to lag inflation and as such underperforms as an appreciating asset. However, the area does cash flow well.

In terms of the stock market, Indiana real estate performs like a bond fund. Slow, and sometimes lags inflation.

HLS does have a point. In terms of real estate, why plop down your entire money lump into one property, when you can diversify and put it over several properties? It also makes sense from a tax standpoint because you can probably decrease your taxes more with several properties (using depreciation) than one.

All I can say is to do the hard math and see which performs better.

[surveyor]

indiana out-of-state investing

According to my information and research, Indiana real estate (and the whole area around it) appreciation tends to lag inflation and as such underperforms as an appreciating asset. However, the area does cash flow well.

In terms of the stock market, Indiana real estate performs like a bond fund. Slow, and sometimes lags inflation.

HLS does have a point. In terms of real estate, why plop down your entire money lump into one property, when you can diversify and put it over several properties? It also makes sense from a tax standpoint because you can probably decrease your taxes more with several properties (using depreciation) than one.

All I can say is to do the hard math and see which performs better.

[surveyor]

indiana out-of-state investing

According to my information and research, Indiana real estate (and the whole area around it) appreciation tends to lag inflation and as such underperforms as an appreciating asset. However, the area does cash flow well.

In terms of the stock market, Indiana real estate performs like a bond fund. Slow, and sometimes lags inflation.

HLS does have a point. In terms of real estate, why plop down your entire money lump into one property, when you can diversify and put it over several properties? It also makes sense from a tax standpoint because you can probably decrease your taxes more with several properties (using depreciation) than one.

All I can say is to do the hard math and see which performs better.

[surveyor]

indiana out-of-state investing

According to my information and research, Indiana real estate (and the whole area around it) appreciation tends to lag inflation and as such underperforms as an appreciating asset. However, the area does cash flow well.

In terms of the stock market, Indiana real estate performs like a bond fund. Slow, and sometimes lags inflation.

HLS does have a point. In terms of real estate, why plop down your entire money lump into one property, when you can diversify and put it over several properties? It also makes sense from a tax standpoint because you can probably decrease your taxes more with several properties (using depreciation) than one.

All I can say is to do the hard math and see which performs better.

[Author]

Posts