[patientrenter]

Can one of the more informed posters here check to see if the Aliso Viejo listing is a short sale?

It’s at 23366 EL REPOSA, Aliso Viejo, CA 92656.

Thanks in advance.

Patient renter in OC

[patientrenter]

Can one of the more informed posters here check to see if the Aliso Viejo listing is a short sale?

It’s at 23366 EL REPOSA, Aliso Viejo, CA 92656.

Thanks in advance.

Patient renter in OC

[patientrenter]

“That means every 1 in 10 family you meet is millionaire.

We are a fxxking rich county.”

Very funny, pepsi. I am a “millionaire”. By my standards, I can afford to spend $190 per week, after rent and utilities and car insurance etc. That’s food and drink for a week, mostly at home, plus one cheap date or a new shirt. It ain’t what it used to be.

Consider the price of a home in coastal Southern California now versus 1970. Use that to figure out what a million dollars back then means today. We’re talking maybe $50-100 million.

Patient renter in OC

[patientrenter]

“That means every 1 in 10 family you meet is millionaire.

We are a fxxking rich county.”

Very funny, pepsi. I am a “millionaire”. By my standards, I can afford to spend $190 per week, after rent and utilities and car insurance etc. That’s food and drink for a week, mostly at home, plus one cheap date or a new shirt. It ain’t what it used to be.

Consider the price of a home in coastal Southern California now versus 1970. Use that to figure out what a million dollars back then means today. We’re talking maybe $50-100 million.

Patient renter in OC

[patientrenter]

“That means every 1 in 10 family you meet is millionaire.

We are a fxxking rich county.”

Very funny, pepsi. I am a “millionaire”. By my standards, I can afford to spend $190 per week, after rent and utilities and car insurance etc. That’s food and drink for a week, mostly at home, plus one cheap date or a new shirt. It ain’t what it used to be.

Consider the price of a home in coastal Southern California now versus 1970. Use that to figure out what a million dollars back then means today. We’re talking maybe $50-100 million.

Patient renter in OC

[patientrenter]

I’ve thought about that, OC Scam, but I am not familiar with the rental market. I’ve never owned my own condo or house, so I’d need to research the sh@t out of the purchase of a rental, and I can’t do my own home repairs. From comments experienced people have made here, it seems that rentals in OC (where I live) aren’t even close to generating cash.

One thing I’ve thought about is buying a small complex, for maybe $1 million or thereabouts. If I got 3-5 units, then I could live in one and rent the rest. If the initial cash flow were negative, but less than my current ($1425/mo) rent, I would be happy. Over time, as rents went up and my loan balance went down, I could look forward to more and more income from rent, while I lived there.

Do you think that prices of rental units will be going down much? Are they high now? Where do I learn that market?

Thanks, OC Scam

Patient renter in OC

[patientrenter]

I’ve thought about that, OC Scam, but I am not familiar with the rental market. I’ve never owned my own condo or house, so I’d need to research the sh@t out of the purchase of a rental, and I can’t do my own home repairs. From comments experienced people have made here, it seems that rentals in OC (where I live) aren’t even close to generating cash.

One thing I’ve thought about is buying a small complex, for maybe $1 million or thereabouts. If I got 3-5 units, then I could live in one and rent the rest. If the initial cash flow were negative, but less than my current ($1425/mo) rent, I would be happy. Over time, as rents went up and my loan balance went down, I could look forward to more and more income from rent, while I lived there.

Do you think that prices of rental units will be going down much? Are they high now? Where do I learn that market?

Thanks, OC Scam

Patient renter in OC

[patientrenter]

I’ve thought about that, OC Scam, but I am not familiar with the rental market. I’ve never owned my own condo or house, so I’d need to research the sh@t out of the purchase of a rental, and I can’t do my own home repairs. From comments experienced people have made here, it seems that rentals in OC (where I live) aren’t even close to generating cash.

One thing I’ve thought about is buying a small complex, for maybe $1 million or thereabouts. If I got 3-5 units, then I could live in one and rent the rest. If the initial cash flow were negative, but less than my current ($1425/mo) rent, I would be happy. Over time, as rents went up and my loan balance went down, I could look forward to more and more income from rent, while I lived there.

Do you think that prices of rental units will be going down much? Are they high now? Where do I learn that market?

Thanks, OC Scam

Patient renter in OC

[patientrenter]

I’m not sure why everyone is so afraid to say their number. I have $180K in cash earmarked for a future home purchase. I plan to make a down payment that’s (well) over 50% of the price.

Patient renter in OC

[patientrenter]

I’m not sure why everyone is so afraid to say their number. I have $180K in cash earmarked for a future home purchase. I plan to make a down payment that’s (well) over 50% of the price.

Patient renter in OC

[patientrenter]

I’m not sure why everyone is so afraid to say their number. I have $180K in cash earmarked for a future home purchase. I plan to make a down payment that’s (well) over 50% of the price.

Patient renter in OC

[patientrenter]

manu, you know most people on this blog think housing is going down more, and for a while. That said, many bloggers who already own homes plan to stay in them, either because they’re not 100% sure about the price decline, or because they are just too comfortable where they are to make a move.

You don’t sound comfortable, as a couple, where you are. So if I were in your shoes, I might move for family harmony, and possible financial gain. If prices rise in the future, well, you might have to set aside some of that extra income to pay for a bigger house, but it won’t kill you.

I wouldn’t trust Zillow. You’d be very lucky to get the Zillow price now.

By the way, you say you won’t get back the $500,000 you spent on improvements. That doesn’t look right to me, based on what you said:

Paid = $950,000 (purchase) + $500,000 (past improvements) + $15,000 (future improvements) = $1,465,000

Current Zillow value = $1,635,000.

Based on Zillow (a risky basis, as I said) you will not only get back every penny of your purchase and improvement money, you will get a tax-free gain of $170,000. If you got the Zillow price, that’s like getting your full physican paychecks starting today instead of 2 years from now. Which just goes to show that, even when the real estate money machine is spluttering it beats, for most people, returns for lucrative work. Something not right there.

Good luck!

Patient renter in OC

[patientrenter]

manu, you know most people on this blog think housing is going down more, and for a while. That said, many bloggers who already own homes plan to stay in them, either because they’re not 100% sure about the price decline, or because they are just too comfortable where they are to make a move.

You don’t sound comfortable, as a couple, where you are. So if I were in your shoes, I might move for family harmony, and possible financial gain. If prices rise in the future, well, you might have to set aside some of that extra income to pay for a bigger house, but it won’t kill you.

I wouldn’t trust Zillow. You’d be very lucky to get the Zillow price now.

By the way, you say you won’t get back the $500,000 you spent on improvements. That doesn’t look right to me, based on what you said:

Paid = $950,000 (purchase) + $500,000 (past improvements) + $15,000 (future improvements) = $1,465,000

Current Zillow value = $1,635,000.

Based on Zillow (a risky basis, as I said) you will not only get back every penny of your purchase and improvement money, you will get a tax-free gain of $170,000. If you got the Zillow price, that’s like getting your full physican paychecks starting today instead of 2 years from now. Which just goes to show that, even when the real estate money machine is spluttering it beats, for most people, returns for lucrative work. Something not right there.

Good luck!

Patient renter in OC

[patientrenter]

manu, you know most people on this blog think housing is going down more, and for a while. That said, many bloggers who already own homes plan to stay in them, either because they’re not 100% sure about the price decline, or because they are just too comfortable where they are to make a move.

You don’t sound comfortable, as a couple, where you are. So if I were in your shoes, I might move for family harmony, and possible financial gain. If prices rise in the future, well, you might have to set aside some of that extra income to pay for a bigger house, but it won’t kill you.

I wouldn’t trust Zillow. You’d be very lucky to get the Zillow price now.

By the way, you say you won’t get back the $500,000 you spent on improvements. That doesn’t look right to me, based on what you said:

Paid = $950,000 (purchase) + $500,000 (past improvements) + $15,000 (future improvements) = $1,465,000

Current Zillow value = $1,635,000.

Based on Zillow (a risky basis, as I said) you will not only get back every penny of your purchase and improvement money, you will get a tax-free gain of $170,000. If you got the Zillow price, that’s like getting your full physican paychecks starting today instead of 2 years from now. Which just goes to show that, even when the real estate money machine is spluttering it beats, for most people, returns for lucrative work. Something not right there.

Good luck!

Patient renter in OC

[patientrenter]

I just made a big long post on this that got lost in cyber-space, so here’s the short version:

1. About 50 mostly high-dividend stocks*.

Spread across the world, industries, company sizes… Examples: Israel high-tech, Chile pension fund mgmt, Russia mining, Aussie pearls, Singapore stocbroker, Finnish paper, UK water, China oil, China coal power, China utility, UK tobacco… Because they dominate high-div stocks, I have a lot of banks, but I tried to spread the bank risk across different countries, bank sizes, and I avoided high residential mortgage banks (except for National City – I missed their big res mortg sub in the disclosures). In the US, I have low-leverage medical REIT, infrastructure, venture capital, theme parks…

2. Two Vanguard index funds – the most diversified domestic and foreign ones.

3. Cash for the purchase of a home some time in the next 5 years

4. 401k’s mostly in cash

I bought Yen/dollar futures in June, but am out now. I am considering yen/euro futures, but don’t feel they’re fully ripe yet. The Euro is sharply overvalued on a consumer buying power basis, and the yen is slightly under. I see the dollar as too fragile to bet on against the Euro, but I think the yen is resilient.

*I’m unhappy only 1/4 of the time that way, when the stocks go down AND the dividend goes down.

Patient renter in OC

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