[jamsvet]

Why do I feel like Maynard G Krebbs…”Work?”

[jamsvet]

Why do I feel like Maynard G Krebbs…”Work?”

[jamsvet]

Why do I feel like Maynard G Krebbs…”Work?”

[jamsvet]

Why do I feel like Maynard G Krebbs…”Work?”

[jamsvet]

Why do I feel like Maynard G Krebbs…”Work?”

[jamsvet]

I liked 1-4 units also but I really loved the economies of scale when it came to 8-12 units. Give me a good Huffman building and I’d be happy.
As far as the guy downtown living all alone in the condo building, I remember a story they did on him and he said that he used to go out and get rid of his trash in the nude. Why not, he had the whole building to himself. I don’t think that he was paying any rent. He had bought and they had to sell a certain number of units before he had to make payments. Something like that. Great Deal; sign me up.

[jamsvet]

I liked 1-4 units also but I really loved the economies of scale when it came to 8-12 units. Give me a good Huffman building and I’d be happy.
As far as the guy downtown living all alone in the condo building, I remember a story they did on him and he said that he used to go out and get rid of his trash in the nude. Why not, he had the whole building to himself. I don’t think that he was paying any rent. He had bought and they had to sell a certain number of units before he had to make payments. Something like that. Great Deal; sign me up.

[jamsvet]

I liked 1-4 units also but I really loved the economies of scale when it came to 8-12 units. Give me a good Huffman building and I’d be happy.
As far as the guy downtown living all alone in the condo building, I remember a story they did on him and he said that he used to go out and get rid of his trash in the nude. Why not, he had the whole building to himself. I don’t think that he was paying any rent. He had bought and they had to sell a certain number of units before he had to make payments. Something like that. Great Deal; sign me up.

[jamsvet]

I liked 1-4 units also but I really loved the economies of scale when it came to 8-12 units. Give me a good Huffman building and I’d be happy.
As far as the guy downtown living all alone in the condo building, I remember a story they did on him and he said that he used to go out and get rid of his trash in the nude. Why not, he had the whole building to himself. I don’t think that he was paying any rent. He had bought and they had to sell a certain number of units before he had to make payments. Something like that. Great Deal; sign me up.

[jamsvet]

I liked 1-4 units also but I really loved the economies of scale when it came to 8-12 units. Give me a good Huffman building and I’d be happy.
As far as the guy downtown living all alone in the condo building, I remember a story they did on him and he said that he used to go out and get rid of his trash in the nude. Why not, he had the whole building to himself. I don’t think that he was paying any rent. He had bought and they had to sell a certain number of units before he had to make payments. Something like that. Great Deal; sign me up.

[jamsvet]

4plexowner-I’ve always been intrigued with the downtown market. One of the things stopping me is the insane HOA fees. I’ve seen many of them at 4-5 or 6 hundred dollars a month. Add that to monthly property taxes and insurance and you’re at 1000 a month before you talk about debt service. But what are they going to do with those places but rent them out at a loss?
When I was buying in the late 90’s, GRMs were in the 5-6 range, now people are looking at 10-12 and saying “what a great deal”. You can’t make money at that rate, especially when there is not going to be any appreciation for the next ten or fifteen years.
Something might “pencil out” but it won’t happen in the real world. A pipe breaks, a tenant stiffs you for two months rent, insurance rates go through the roof; things intrude on penciled out figures that had not been predicted. Unless you have a big cushion, it is a money pit.
I too managed all of my properties personally; it’s the only way to control costs and know whats going on. I recently read an article, I think it was in Money Magazine, about someone who bought a property in another state and found out just how horribly managed it was by a “professional” property management company.

[jamsvet]

4plexowner-I’ve always been intrigued with the downtown market. One of the things stopping me is the insane HOA fees. I’ve seen many of them at 4-5 or 6 hundred dollars a month. Add that to monthly property taxes and insurance and you’re at 1000 a month before you talk about debt service. But what are they going to do with those places but rent them out at a loss?
When I was buying in the late 90’s, GRMs were in the 5-6 range, now people are looking at 10-12 and saying “what a great deal”. You can’t make money at that rate, especially when there is not going to be any appreciation for the next ten or fifteen years.
Something might “pencil out” but it won’t happen in the real world. A pipe breaks, a tenant stiffs you for two months rent, insurance rates go through the roof; things intrude on penciled out figures that had not been predicted. Unless you have a big cushion, it is a money pit.
I too managed all of my properties personally; it’s the only way to control costs and know whats going on. I recently read an article, I think it was in Money Magazine, about someone who bought a property in another state and found out just how horribly managed it was by a “professional” property management company.

[jamsvet]

4plexowner-I’ve always been intrigued with the downtown market. One of the things stopping me is the insane HOA fees. I’ve seen many of them at 4-5 or 6 hundred dollars a month. Add that to monthly property taxes and insurance and you’re at 1000 a month before you talk about debt service. But what are they going to do with those places but rent them out at a loss?
When I was buying in the late 90’s, GRMs were in the 5-6 range, now people are looking at 10-12 and saying “what a great deal”. You can’t make money at that rate, especially when there is not going to be any appreciation for the next ten or fifteen years.
Something might “pencil out” but it won’t happen in the real world. A pipe breaks, a tenant stiffs you for two months rent, insurance rates go through the roof; things intrude on penciled out figures that had not been predicted. Unless you have a big cushion, it is a money pit.
I too managed all of my properties personally; it’s the only way to control costs and know whats going on. I recently read an article, I think it was in Money Magazine, about someone who bought a property in another state and found out just how horribly managed it was by a “professional” property management company.

[jamsvet]

4plexowner-I’ve always been intrigued with the downtown market. One of the things stopping me is the insane HOA fees. I’ve seen many of them at 4-5 or 6 hundred dollars a month. Add that to monthly property taxes and insurance and you’re at 1000 a month before you talk about debt service. But what are they going to do with those places but rent them out at a loss?
When I was buying in the late 90’s, GRMs were in the 5-6 range, now people are looking at 10-12 and saying “what a great deal”. You can’t make money at that rate, especially when there is not going to be any appreciation for the next ten or fifteen years.
Something might “pencil out” but it won’t happen in the real world. A pipe breaks, a tenant stiffs you for two months rent, insurance rates go through the roof; things intrude on penciled out figures that had not been predicted. Unless you have a big cushion, it is a money pit.
I too managed all of my properties personally; it’s the only way to control costs and know whats going on. I recently read an article, I think it was in Money Magazine, about someone who bought a property in another state and found out just how horribly managed it was by a “professional” property management company.

[jamsvet]

4plexowner-I’ve always been intrigued with the downtown market. One of the things stopping me is the insane HOA fees. I’ve seen many of them at 4-5 or 6 hundred dollars a month. Add that to monthly property taxes and insurance and you’re at 1000 a month before you talk about debt service. But what are they going to do with those places but rent them out at a loss?
When I was buying in the late 90’s, GRMs were in the 5-6 range, now people are looking at 10-12 and saying “what a great deal”. You can’t make money at that rate, especially when there is not going to be any appreciation for the next ten or fifteen years.
Something might “pencil out” but it won’t happen in the real world. A pipe breaks, a tenant stiffs you for two months rent, insurance rates go through the roof; things intrude on penciled out figures that had not been predicted. Unless you have a big cushion, it is a money pit.
I too managed all of my properties personally; it’s the only way to control costs and know whats going on. I recently read an article, I think it was in Money Magazine, about someone who bought a property in another state and found out just how horribly managed it was by a “professional” property management company.

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