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HLS
ParticipantT held its support. Up 13% off the low of 3 weeks ago,
I hope that you were able to buy moreParticipantYour markers have already been recorded.
Are you looking to do a lot split OR lot line adjustmentWhat did you ask them to do before they gave you their quote ?
ParticipantIs this for building purposes or just for you to know ?
A plat map should be available for free from a title company.Plat map is a document drawn to scale, showing the divisions of a piece of land. It gives the legal descriptions of real property by lot, street, and block number.
It should show the dimensions on all sides. You may be able to easily find a survey marker/monument to start from,
This may help you too:
How to Survey Your Property Lines using a GPS Receiver
https://www.expertgps.com/tutorials/how-to-survey-your-property-lines-using-a-gps-receiver.aspParticipantPocatello Idaho- College town.
$1.375,000 listing price
$ 18,000 monthly gross renthttps://www.realtor.com/realestateandhomes-detail/2125-S-4th-Ave_Pocatello_ID_83201_M15008-71820
if expenses are 40% of the income, you still get almost 9.5% cap rate
+ probably $35-40K a year depreciation
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Many of today’s residential buyers are NOT ‘highly qualified’
they are just qualified.
In many cases one can go up to a 50% debt ratio with a 1% down payment. Many people only bring home 70% of their gross income.Easy lending does not make housing affordable, it actually makes it unaffordable to many with high prices.
if mortgage rates rise too much, payment amounts will be out of reach for many people. Prices are artificially high because rates are low but rates could stay low for a very long time
Kim Kardashian could be a grandmother and Oprah could be pitching reverse mortgages to supplement her income by then.
Are we in a bubble OR is it just the ‘new normal’ ??
ParticipantP/E ratios in many cases are completely manipulated and can be a trap.
TTM, current and future projections are misleading.For many years Jack Welch at GE beat earnings expectation by 1c.
You think that was a coincidence ?Take a look at many stocks that have done well this year,
in many cases nothing to do with P/E’s.Accountants can adjust the figures in many columns to get the final number where they want/need it to be.
This is why charts offer information not found anywhere else.
ParticipantIf you are a believer in charts, there is much support above $32-$33 over the past 5 years.
Charts play a big part for many traders regardless of anything else.
They don’t look at fundamentals OR annual reports.Crazy volatility on T this month. It’s been ugly.
Options are another way to create income. You can also limit your risk exposure when used correctly.If you like dividend stocks that have been beat up take a look at GSK & GE.
It’s impossible to pick exact bottoms.ParticipantNever underestimate how wrong a projection can be.
NOTHING is guaranteed in the stock market.There are companies that lose money with stocks at all time highs.
Other companies have billions in revenue and are making money yet stock prices are near lows.Chart says that T has major support at $32. Doesn’t mean that it can’t go lower….
It’s $33.43 at the moment.In the long run, hopefully it’s a safe investment for you.
Options pricing clearly tells you that it’s not clear if it will continue to fall. This could be a golden opportunity.if you own it at a higher price, I would consider adding to your position, either with shares OR options.
The stock market is irrational, emotional and risky.
It is not the safety net that most people seem to think.**As Warren Buffet says….Be greedy when others are fearful.
ParticipantIf you think it has limited downside from here OR is going to bounce you can buy the stock and sell ITM calls.
It should go EX-dividend the first week in January for 49c a share..A boulder the size of T ( or GE) doesn’t roll downhill forever,
although GE could cut their dividend. I think T div is safe.Your thoughts ?
ParticipantGeneral statements are confusing.
Saying one shouldn’t buy at $825K because income is $135K has nothing to do with whether it is worth buying.
…… If it were worth $1M+ you should do whatever you can to buy it and flip it or keep it…. (It DOES happen)I don’t think there are ANY ‘genuinely safe stocks’
There are fortunes to be made in the right “new investments”We ARE in a huge credit bubble, but there is more wealth around today than ever before with many people chasing yield.
Interest creates even more wealth. This bubble could last 50 years, or just a few more months. Rates could be kep artificially low for decades.
Carry trade keeps markets in check.The average Joe’s & Jane’s that contribute to a 401K
on a regular basis are part of a potential problem, not a solution.You can be right in the short term and wrong in the long run.
You can be wrong in the short term and right in the long run.Back to the OP, it doesn’t make sense to me because the numbers don’t work out. It has nothing to do with what his income is nor the fact that a ‘friend’ recommended it.
One needs to understand the risks associated with any investment and how to analyze them, as well as carrying costs associated with real estate that don’t exist with stocks.
Most people get hurt when the market falls, a small group will make a fortune.
ParticipantWhen you mention ‘after taxes’ when talking about mortgage interest,, don’t forget that you are itemizing and giving up the standard deduction.
There are many people with low loan amounts that may not benefit by itemizing. If the standard deduction is raised to $24K for a married couple, it will make less sense for many to itemize.
Paying interest IS paying interest.
Yes, maybe someday CD rates will be higher than mortgage rates again.Unless one is a tax expert, I tell people to let the tax benefit (if any) be a bonus when buying a primary residence, don’t let it be a factor when deciding on buying a house.
To address the OP, a qualified borrower can be approved to borrow more than they should be comfortable borrowing, That’s how the system works…
. Having an 800 credit score OR putting 50% down doesn’t make the approval process any easier.
You jump through the same hoops as a 620 credit score with 3% down.Approvals are based on approved monthly income and monthly debts on a credit report.
Many people have substantial expenses that are not on a credit report.Loan qualifying doesn’t count utilities, medical expenses, gas, clothing, hobbies, sports, child care, food, entertainment ,vices , car insurance, life insurance, braces, car maintenance, payroll deductions etc
The more you make the more disposable income one should have so
saying that one should only buy a house worth X times their income is a very general statement.October 16, 2017 at 3:48 PM in reply to: Recommendations for a Selling Broker who would accept 1% commission? #808189ParticipantThank you EP.
I’ve spoken with/helped A LOT of Pigg’s over the past 10 years, not just with loans. If I can’t help, I will say so.
I’ve told some that I didn’t think they should buy just yet based on their finances. I’ve told others how to accomplish their goals without refinancing.
There may be someone who is unhappy with me but I honestly can’t say that I know who they are (other than some grumpy Pigg’s who never contacted me but still complained)
In a public forum I’m a target. I can handle it. 😉 HLS
October 16, 2017 at 1:44 PM in reply to: Recommendations for a Selling Broker who would accept 1% commission? #808187ParticipantAs a licensed Realtor, with Carlsbad office, I’ll negotiate my commission with you and get it in MLS and handle all the paperwork and required disclosures.
We can discuss what you expect in terms of service for a reduced commission.For any Realtor/Agent/Broker there is potential liability on any transaction.
There’s a limit to how low anybody wants to go.You still need to be willing to offer a commission to the selling agent.
We can discuss that too.Please contact me if interested. HLS 😉
ParticipantI have been involved in this for many years.
My general advice to anyone considering it is to look at areas that are growing (vs areas that are stagnating/shrinking)
and IF possible look at areas that are reasonable commuting distance from either an airport, major medical center OR college/technical school etc. These 3 rarely close down.There are many parts of the country that property isn’t worth much more than it was 10 years ago, (and there was no bubble)
The trade-off is that the cash flow & depreciation should be much better than an area with appreciation (on paper) but poor cash flow.From a So Cal perspective, it’s hard to grasp that a property hasn’t gone up in 10 years, but there are plenty of areas that it’s true. Rents don’t rise quickly.
Nobody knows if property values will continue to rise anywhere, although most people expect it to.
In the long run, the expected benefit of alternate areas should be cash flow/income VS. equity increase, although both can happen.
I’ve had some very astute investors tell me that in hindsight they may have done better on paper with appreciation, however they have had a very nice stream of cash income and that you can’t spend appreciation. No regrets.
Different strokes for different folks.
Going back to OP, I would not consider an $825K property with $800 a month property taxes + HOA ($ ??) that would only rent for $3000-$3500 a month after down payment. Huge negative every month, hoping/praying/wishing/dreaming for appreciation;
but in the long run it might work out! Who knows.ParticipantYES.
Redfin is just a feed of the MLS system nationwide.
Pick a city, then go to ‘More Filters’ then ‘Multi Family’
You can also use Realtor.com or Zillow etc etcAs an example:
Here is a 12 unit apartment bldg for $425,000 in Oklahoma City.https://www.redfin.com/OK/Oklahoma-City/3500-S-Pennsylvania-Ave-73119/home/72105802
Poor listing info, doesn’t mention the rent.
up to 4 unit properties can be financed with 30 year mortgages.
5 units and above have various options for financing.Owning property from a distance isn’t for everyone. It comes with added risks, but has worked well for many people.
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