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[quote=spdrun]^^^

This ass-u-mes that there are no other good rental properties in the entire world. Say you’re getting 6% on the dollar on a rental in CA, have the option to buy a building that caps at 10% in Tucson. Or a fixer-upper locally that caps at 8% after all repairs are done.[/quote]

No, this assumes he doesn’t have rentals currently since he’s a move up buyer and didn’t mention buying other rentals.

If you have a 1/2 dozen or more rentals and you want to sell one to buy a better rental in another market go for it.

If you don’t have any other properties you managed and don’t have pretty extensive experience managing multiple properties, IMHO, trading for an out of state property is fools gold.

Also, keep in mind, his cap rate is actually determined by what he paid when he bought it, not what he thinks he can get for it today.

My answer was very much focused on you own one house, you bought a second and don’t need to sell the first, should you? The answer is no, your cost basis is hopefully much lower in the prior house allowing you room to learn the ropes of real estate without negatively impacting your cash flow.

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[quote=Allan from Fallbrook]Desmond: Many of these news outlets, regardless of leaning, source their materials from the same people or groups, which means an intern went out on Google and looked up “bomb expert”.

He does additional duty as a “counterinsurgency” expert (a topic he knows exactly dick about) and “strategy” expert. On the latter topic, he is an expert. He developed and implemented an excellent strategy of affixing his lips to Bill Clinton’s ass.[/quote]

LMAO, I’ve missed you Allan.

One of best things I’ve read what Timothy Ferris’ “Four Hour Work Week” section on becoming “an expert”. Literally a little formula for becoming the go to person for the media to call up on something. Which in turn is useful for being able to pump whatever pabulum you want.

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Do not sell unless you are clearing out of California in entirety.

IMHO, housing will never, ever, be as affordable as it previously was again.

Not in the short term, probably not in the long term. As long as our fiat currency stands, that house you own today, should NEVER be sold.

NEVER. Do not dream of capital gains, do not dream of of greater returns on other investments. That house, represents perpetual and continual cash flows. Once you sell it, you will never replace it.

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[quote=SD Realtor]I am not a huge anti GMO but it just seems like it is a provision that serves no good to the general public. It is simply a benefit for the author and other like corporates. Why have the clause at all?
[/quote]

Because that’s how we’ve institutionalized corruption and political favoritism, two human traits as old as civilization itself.

We don’t call corruption.
We don’t call bribes.
We don’t call it baksheesh
We call it a campaign contribution.

We then put a nice face of attaching pork to everything and cheerlead our politicians for bringing home the bacon.

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personally, I think GMOs are an evil godsend. On one hand we have much great crop production because of things like roundup ready genes on the other we have HFCS in everything because of GMO genes.

[quote]
Let me ask this? Why was this provision needed at all?
[/quote]

Because GMOs are political, big business and a green religion for the heritage food movement.

Basically the bill says if it isn’t currently a regulated item, then the Ag Sec *SHALL* treat it as a non-regulated item until that time they determine it needs regulation

as oppose to Ag Sec can be as capricious as they want until the non-regulated status is determined.

or more shortly: it is non-regulated until we determine it is regulated versus it is regulated until we determine it is non-regulated.

GMO and cross breeding have the same results, just different methods to get the genes desired. The downside of the GMO is it’s possible to get genes in the DNA stream that otherwise are not possible and the impacts of those are not known.

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[quote=SD Realtor]Awesome!

“effectively bars federal courts from being able to halt the sale or planting of GMO or GE crops and seeds, no matter what health consequences from the consumption of these products may come to light in the future.”
[/quote]

1. the bill expires September 30, 2013

2. that text highlighted isn’t present and is blatantly false.

i.e that claim is false and gross exaggeration.

The text also provides the Secretary of Agriculture the ability to put in place provisions to insure the safety, but prevents the court from blocking research because someone is alleging health consequences until the health consequences are determined.

Not that Monsanto isn’t glorified evil when it comes to crops but this provision while sleasey allows research to continue until an actual finding occurs.

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It helps when you don’t transpose the numbers.

Okay, where’s the rider? I still don’t see it and I don’t anything that looks like what is said in the Agriculture/FDA section.

Mixed urban legend http://www.snopes.com/politics/business/mpa.asp

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Um, I check House.gov and I see H.R. 993 as a one page item for conveying some forest land in Utah land to a small town in Utah

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Really, what’s your age?

Not sure how an Engineer with BS and MS in EE is going to get their salary whacked in half unless the Government was just insanely paying above market rates through the 2nd hand fleecing of the contractor.

Oh wait, I suspect I just answered my own question, I know people working cost plus…

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Actually, CalPERs own actuarial reports show that life expectancy of public safety workers is longer than the general public.

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I don’t doubt that’s not the greatest neighborhood from a socio-economic standpoint.

The one in OC requires you to not wear the wrong colors.

and the obvious point.. $400K post flip /= $400K pre-flip condition

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You didn’t read between the lines.

OC, sub-$400K isn’t to his or her liking. There are 4000 listings in OC (roughly one month supply at peak sales) 25% of them are below $400K. 166 are SFRs

San Diego has 5000 units for sales west of Ramona. 626 are SFRs.

This is a typical sub-$400K SFR listing in SD. http://www.redfin.com/CA/San-Diego/6109-Kerch-St-92115/home/5519733

This is a typical sub-$400K SFR listing in OC http://www.redfin.com/CA/Anaheim/1401-W-Dogwood-Ave-92801/home/3196204
Actually this one of the nicer ones and low priced for some reason

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[quote=Happs]I was reading this article about investors buying houses and turning them into rentals and the second paragraph about the great number of houses under $400,000 in Orange County purchases by investors was startling. Do regular upper middle class workers not have the savings to be able to qualify for a mortgage on a $400,000 house? [/quote]

Regular upper income people don’t want a $400K house, they want a $800K house and a BMW on the driveway.

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This item is back in the news today with a new study showing that care for the elderly with dementia is far more costly than caring for cancer or heart disease. Dementia tops costs

As the next generation retires we’re going to have a real crises as the broken families leave only the industrialized care system to provide the necessary care.

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We’re probably three or more years away from the final song of the Stockton bankruptcy.

As for inflation being a savior, that’s only true if the inflation occurs AFTER the incoming tsunami or retirees have already retired.

If it starts before, the necessary payments to CalPERS will skyrocket far faster than any revenue increases. And we all know that if inflation is 8%, the rest thing that will be removed in the next contract will be the cap on COLA.

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