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bearishgurl
Participant[quote=clearfund]SDSURFER – SFRs were never meant to be cash flow vehicles and thus rarely cash flow decently. You are competing with 90% owner/users who have bid the price structure up to a zero return.[/quote]
clearfund, I can appreciate your bias to comm’l RE and large multifamily complexes. However, not everyone has the capital to purchase these properties or multiple REITs or the know-how and contacts to form managing partnerships that work for them. Not every area in SD county has SFR’s which are 90% owner-occupied, which are bid up in price to zero return. Many SFR’s (often fixers or near-fixers) languish on the market or are good properties to buy as an equity purchaser PRIOR to being foreclosed on (if they are not over-encumbered). Sometimes, an owner just has to move to be near family and can’t make the necessary repairs to compete in today’s sales market (where deep-pocketed owner-lenders are fixing-up properties reverting back to them at trustees sales prior to marketing them).
There are MANY areas of the county where a first-time individual investor can buy an SFR for $175K to $275K and the cash-flow numbers work out from day one if he/she manages it himself. These houses, in primarily “working class” areas are 40-75 years old and typically rent for $1350 to $1800 mo (avg rent $1650). Given the ultra-low interest rate climate of today and the fact that many condos can’t be financed due to low owner-occupancy of the complex or pending litigation, I believe that from now through the next 3-4 years (if mtg interest rates stay stable) is a very OPPORTUNE time to scoop up SFR investments (using a mtg), especially those on or close to public transportation. Remember, EVERYONE has to live somewhere.
Participant[quote=clearfund]SDSURFER – SFRs were never meant to be cash flow vehicles and thus rarely cash flow decently. You are competing with 90% owner/users who have bid the price structure up to a zero return.[/quote]
clearfund, I can appreciate your bias to comm’l RE and large multifamily complexes. However, not everyone has the capital to purchase these properties or multiple REITs or the know-how and contacts to form managing partnerships that work for them. Not every area in SD county has SFR’s which are 90% owner-occupied, which are bid up in price to zero return. Many SFR’s (often fixers or near-fixers) languish on the market or are good properties to buy as an equity purchaser PRIOR to being foreclosed on (if they are not over-encumbered). Sometimes, an owner just has to move to be near family and can’t make the necessary repairs to compete in today’s sales market (where deep-pocketed owner-lenders are fixing-up properties reverting back to them at trustees sales prior to marketing them).
There are MANY areas of the county where a first-time individual investor can buy an SFR for $175K to $275K and the cash-flow numbers work out from day one if he/she manages it himself. These houses, in primarily “working class” areas are 40-75 years old and typically rent for $1350 to $1800 mo (avg rent $1650). Given the ultra-low interest rate climate of today and the fact that many condos can’t be financed due to low owner-occupancy of the complex or pending litigation, I believe that from now through the next 3-4 years (if mtg interest rates stay stable) is a very OPPORTUNE time to scoop up SFR investments (using a mtg), especially those on or close to public transportation. Remember, EVERYONE has to live somewhere.
Participant[quote=sdrealtor]You didnt disagree you engaged in strawman. We had 1 TV we kept for 20 years. We never ate out. It wasnt that clothes were more or less, we used hand me downs and 4 to 5 different kids wore them. We had 1 phone line for 6 people not 6. We didnt go on exotic vacations even though we were upper middle class. My next door neighbor (a very successful dr) kept a Buick Skylark for 15 years. We just lived differently back then as did most people. The world is a different place today.[/quote]
Agree with all of your post, sdr, but also agree with CAR that clothing, electronics, vehicles, etc cost families a much larger percentage of household income than they do today.
For instance, when we got our first color TV (new) in 1966 it cost my dad over $500 (purchased in Oakland, CA):
see: http://www.youtube.com/watch?v=Mo8n3jLoM_U
Our monthly household income at that time was approx $1,200 (MC to upper MC). Today a family with a household income of $1,200, who needs a TV will purchase it for <=$50 from a garage sale or ask a relative to give them an extra one they might have sitting around. They also qualify for an EBT card (formerly "food stamps") and MAY even qualify for Medi-Cal.
Participant[quote=sdrealtor]You didnt disagree you engaged in strawman. We had 1 TV we kept for 20 years. We never ate out. It wasnt that clothes were more or less, we used hand me downs and 4 to 5 different kids wore them. We had 1 phone line for 6 people not 6. We didnt go on exotic vacations even though we were upper middle class. My next door neighbor (a very successful dr) kept a Buick Skylark for 15 years. We just lived differently back then as did most people. The world is a different place today.[/quote]
Agree with all of your post, sdr, but also agree with CAR that clothing, electronics, vehicles, etc cost families a much larger percentage of household income than they do today.
For instance, when we got our first color TV (new) in 1966 it cost my dad over $500 (purchased in Oakland, CA):
see: http://www.youtube.com/watch?v=Mo8n3jLoM_U
Our monthly household income at that time was approx $1,200 (MC to upper MC). Today a family with a household income of $1,200, who needs a TV will purchase it for <=$50 from a garage sale or ask a relative to give them an extra one they might have sitting around. They also qualify for an EBT card (formerly "food stamps") and MAY even qualify for Medi-Cal.
Participant[quote=sdrealtor]You didnt disagree you engaged in strawman. We had 1 TV we kept for 20 years. We never ate out. It wasnt that clothes were more or less, we used hand me downs and 4 to 5 different kids wore them. We had 1 phone line for 6 people not 6. We didnt go on exotic vacations even though we were upper middle class. My next door neighbor (a very successful dr) kept a Buick Skylark for 15 years. We just lived differently back then as did most people. The world is a different place today.[/quote]
Agree with all of your post, sdr, but also agree with CAR that clothing, electronics, vehicles, etc cost families a much larger percentage of household income than they do today.
For instance, when we got our first color TV (new) in 1966 it cost my dad over $500 (purchased in Oakland, CA):
see: http://www.youtube.com/watch?v=Mo8n3jLoM_U
Our monthly household income at that time was approx $1,200 (MC to upper MC). Today a family with a household income of $1,200, who needs a TV will purchase it for <=$50 from a garage sale or ask a relative to give them an extra one they might have sitting around. They also qualify for an EBT card (formerly "food stamps") and MAY even qualify for Medi-Cal.
Participant[quote=sdrealtor]You didnt disagree you engaged in strawman. We had 1 TV we kept for 20 years. We never ate out. It wasnt that clothes were more or less, we used hand me downs and 4 to 5 different kids wore them. We had 1 phone line for 6 people not 6. We didnt go on exotic vacations even though we were upper middle class. My next door neighbor (a very successful dr) kept a Buick Skylark for 15 years. We just lived differently back then as did most people. The world is a different place today.[/quote]
Agree with all of your post, sdr, but also agree with CAR that clothing, electronics, vehicles, etc cost families a much larger percentage of household income than they do today.
For instance, when we got our first color TV (new) in 1966 it cost my dad over $500 (purchased in Oakland, CA):
see: http://www.youtube.com/watch?v=Mo8n3jLoM_U
Our monthly household income at that time was approx $1,200 (MC to upper MC). Today a family with a household income of $1,200, who needs a TV will purchase it for <=$50 from a garage sale or ask a relative to give them an extra one they might have sitting around. They also qualify for an EBT card (formerly "food stamps") and MAY even qualify for Medi-Cal.
Participant[quote=sdrealtor]You didnt disagree you engaged in strawman. We had 1 TV we kept for 20 years. We never ate out. It wasnt that clothes were more or less, we used hand me downs and 4 to 5 different kids wore them. We had 1 phone line for 6 people not 6. We didnt go on exotic vacations even though we were upper middle class. My next door neighbor (a very successful dr) kept a Buick Skylark for 15 years. We just lived differently back then as did most people. The world is a different place today.[/quote]
Agree with all of your post, sdr, but also agree with CAR that clothing, electronics, vehicles, etc cost families a much larger percentage of household income than they do today.
For instance, when we got our first color TV (new) in 1966 it cost my dad over $500 (purchased in Oakland, CA):
see: http://www.youtube.com/watch?v=Mo8n3jLoM_U
Our monthly household income at that time was approx $1,200 (MC to upper MC). Today a family with a household income of $1,200, who needs a TV will purchase it for <=$50 from a garage sale or ask a relative to give them an extra one they might have sitting around. They also qualify for an EBT card (formerly "food stamps") and MAY even qualify for Medi-Cal.
Participant[quote=sdrealtor]So WhoTF are you agreeing with me or CAR? You flip flop more than a political candidate…[/quote]
sdr, put down your glass for a minute and let your puppy outside … he’s whining to “do his business.”
If you’re referring to me here, I agree with CAR in that jobs which one can raise a family on which require only a HS education to obtain have been in short supply in recent years.
These jobs enabled an entire family to live, but NOT in the style a “typical Pigg” would prefer. Pigg or no Pigg, the vast majority of the “younger crowd” (especially “the 21-35 year-olds”) feel that they need everything you mention above in order to exist … and then some.
From what I’ve seen, a pervasive “sense of entitlement” exists among young people today. I’m struggling with how to fix this in my own daily experience. I guess this generation will figure it all out when their “dream job” fails to materialize right away for many of them after graduation from college. Some of these recent graduates will have to begin making student loan payments at the six-month mark after graduation causing them to enter the “school of hard knocks” along their eventual path to “self-sufficiency.”
It takes way too long for most young people to become self-sufficient today and I don’t know what can be done about this.
Participant[quote=sdrealtor]So WhoTF are you agreeing with me or CAR? You flip flop more than a political candidate…[/quote]
sdr, put down your glass for a minute and let your puppy outside … he’s whining to “do his business.”
If you’re referring to me here, I agree with CAR in that jobs which one can raise a family on which require only a HS education to obtain have been in short supply in recent years.
These jobs enabled an entire family to live, but NOT in the style a “typical Pigg” would prefer. Pigg or no Pigg, the vast majority of the “younger crowd” (especially “the 21-35 year-olds”) feel that they need everything you mention above in order to exist … and then some.
From what I’ve seen, a pervasive “sense of entitlement” exists among young people today. I’m struggling with how to fix this in my own daily experience. I guess this generation will figure it all out when their “dream job” fails to materialize right away for many of them after graduation from college. Some of these recent graduates will have to begin making student loan payments at the six-month mark after graduation causing them to enter the “school of hard knocks” along their eventual path to “self-sufficiency.”
It takes way too long for most young people to become self-sufficient today and I don’t know what can be done about this.
Participant[quote=sdrealtor]So WhoTF are you agreeing with me or CAR? You flip flop more than a political candidate…[/quote]
sdr, put down your glass for a minute and let your puppy outside … he’s whining to “do his business.”
If you’re referring to me here, I agree with CAR in that jobs which one can raise a family on which require only a HS education to obtain have been in short supply in recent years.
These jobs enabled an entire family to live, but NOT in the style a “typical Pigg” would prefer. Pigg or no Pigg, the vast majority of the “younger crowd” (especially “the 21-35 year-olds”) feel that they need everything you mention above in order to exist … and then some.
From what I’ve seen, a pervasive “sense of entitlement” exists among young people today. I’m struggling with how to fix this in my own daily experience. I guess this generation will figure it all out when their “dream job” fails to materialize right away for many of them after graduation from college. Some of these recent graduates will have to begin making student loan payments at the six-month mark after graduation causing them to enter the “school of hard knocks” along their eventual path to “self-sufficiency.”
It takes way too long for most young people to become self-sufficient today and I don’t know what can be done about this.
Participant[quote=sdrealtor]So WhoTF are you agreeing with me or CAR? You flip flop more than a political candidate…[/quote]
sdr, put down your glass for a minute and let your puppy outside … he’s whining to “do his business.”
If you’re referring to me here, I agree with CAR in that jobs which one can raise a family on which require only a HS education to obtain have been in short supply in recent years.
These jobs enabled an entire family to live, but NOT in the style a “typical Pigg” would prefer. Pigg or no Pigg, the vast majority of the “younger crowd” (especially “the 21-35 year-olds”) feel that they need everything you mention above in order to exist … and then some.
From what I’ve seen, a pervasive “sense of entitlement” exists among young people today. I’m struggling with how to fix this in my own daily experience. I guess this generation will figure it all out when their “dream job” fails to materialize right away for many of them after graduation from college. Some of these recent graduates will have to begin making student loan payments at the six-month mark after graduation causing them to enter the “school of hard knocks” along their eventual path to “self-sufficiency.”
It takes way too long for most young people to become self-sufficient today and I don’t know what can be done about this.
Participant[quote=sdrealtor]So WhoTF are you agreeing with me or CAR? You flip flop more than a political candidate…[/quote]
sdr, put down your glass for a minute and let your puppy outside … he’s whining to “do his business.”
If you’re referring to me here, I agree with CAR in that jobs which one can raise a family on which require only a HS education to obtain have been in short supply in recent years.
These jobs enabled an entire family to live, but NOT in the style a “typical Pigg” would prefer. Pigg or no Pigg, the vast majority of the “younger crowd” (especially “the 21-35 year-olds”) feel that they need everything you mention above in order to exist … and then some.
From what I’ve seen, a pervasive “sense of entitlement” exists among young people today. I’m struggling with how to fix this in my own daily experience. I guess this generation will figure it all out when their “dream job” fails to materialize right away for many of them after graduation from college. Some of these recent graduates will have to begin making student loan payments at the six-month mark after graduation causing them to enter the “school of hard knocks” along their eventual path to “self-sufficiency.”
It takes way too long for most young people to become self-sufficient today and I don’t know what can be done about this.
Participant[quote=sdrealtor]I think most people still can graduate from high school and get a job that could support themselves and possibly an entire family on one income today. The problem is they arent content to live the way people used to. The attitude of todays modest jobholders is there is no reason they shouldnt have a cell phone, iPod, computer w/ internet access, a new car every few years, take nice vacations, go out to dinner and have a flat panel TV. When i was growing up we kept cars 10 years, had one TV in the house we kept for 20 years, one phone number, we rarely took vacations and dinner out was a bucket of chicken from Colonel Sanders (and that was a rare treat). I grew up in an upper middle class area but expectations have changed as has the world. You cant have it both ways.[/quote]
Agree with all of this, except cell phone and internet svc which I believe are necessities. There are cheaper ways of getting these services but they involve prepaid cell phones and a little slower internet service.
I must admit that I have regular cellphone svc and fast internet service but have none of the other benefits you mention here. I DO travel but I drive in my 18 yo car and stay at friends/relatives houses 75% of the time.
I do not eat out unless I am someone else’s guest 🙂
I want to add that families of “yesteryear” lived in much less square footage than young families want today.
Participant[quote=sdrealtor]I think most people still can graduate from high school and get a job that could support themselves and possibly an entire family on one income today. The problem is they arent content to live the way people used to. The attitude of todays modest jobholders is there is no reason they shouldnt have a cell phone, iPod, computer w/ internet access, a new car every few years, take nice vacations, go out to dinner and have a flat panel TV. When i was growing up we kept cars 10 years, had one TV in the house we kept for 20 years, one phone number, we rarely took vacations and dinner out was a bucket of chicken from Colonel Sanders (and that was a rare treat). I grew up in an upper middle class area but expectations have changed as has the world. You cant have it both ways.[/quote]
Agree with all of this, except cell phone and internet svc which I believe are necessities. There are cheaper ways of getting these services but they involve prepaid cell phones and a little slower internet service.
I must admit that I have regular cellphone svc and fast internet service but have none of the other benefits you mention here. I DO travel but I drive in my 18 yo car and stay at friends/relatives houses 75% of the time.
I do not eat out unless I am someone else’s guest 🙂
I want to add that families of “yesteryear” lived in much less square footage than young families want today.
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