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sdcellar
Participant(oh, and don’t you have to pay taxes on those profits too? I guess I just don’t know to much about all this land baron stuff. Mostly, I guess, because I’ve never seriously considered it. and the reason I was asking in the first place)
Participant(oh, and don’t you have to pay taxes on those profits too? I guess I just don’t know to much about all this land baron stuff. Mostly, I guess, because I’ve never seriously considered it. and the reason I was asking in the first place)
Participant(oh, and don’t you have to pay taxes on those profits too? I guess I just don’t know to much about all this land baron stuff. Mostly, I guess, because I’ve never seriously considered it. and the reason I was asking in the first place)
Participant(oh, and don’t you have to pay taxes on those profits too? I guess I just don’t know to much about all this land baron stuff. Mostly, I guess, because I’ve never seriously considered it. and the reason I was asking in the first place)
Participant(oh, and don’t you have to pay taxes on those profits too? I guess I just don’t know to much about all this land baron stuff. Mostly, I guess, because I’ve never seriously considered it. and the reason I was asking in the first place)
Participant[quote=AN]Nope, not even close. They all are around 325-375k now. Was around 300-350k late 2008.[/quote]So, I guess you don’t spend *too* much time searching. It’s actually an entertaining little search in Redfin…
[quote=AN]With 250k, 20% down & 5% interest rate, PITI would be around $1400/month. If it rents for $1700/month, that’s $3600/year in profit. From a $50k investment. That’s 6% return before talking about any write offs. That sounds pretty decent to me. At $200k, we’re looking at ~$6500/yr. That’s over 10% return.[/quote]What writeoffs? Depreciation and expenses of course, but it’s the latter that’s not being considered at all. To me, a safe figure for annual “overhead” is around 5% of rental income. This covers things like maintenance and gaps in tenancy. So, again seems breakeven to me at best and you’re out 50 grand.
Obviously better at $200K, but I also suppose once prices do get back down to those ranges, the possibility of actual appreciation seems to become more likely.
Participant[quote=AN]Nope, not even close. They all are around 325-375k now. Was around 300-350k late 2008.[/quote]So, I guess you don’t spend *too* much time searching. It’s actually an entertaining little search in Redfin…
[quote=AN]With 250k, 20% down & 5% interest rate, PITI would be around $1400/month. If it rents for $1700/month, that’s $3600/year in profit. From a $50k investment. That’s 6% return before talking about any write offs. That sounds pretty decent to me. At $200k, we’re looking at ~$6500/yr. That’s over 10% return.[/quote]What writeoffs? Depreciation and expenses of course, but it’s the latter that’s not being considered at all. To me, a safe figure for annual “overhead” is around 5% of rental income. This covers things like maintenance and gaps in tenancy. So, again seems breakeven to me at best and you’re out 50 grand.
Obviously better at $200K, but I also suppose once prices do get back down to those ranges, the possibility of actual appreciation seems to become more likely.
Participant[quote=AN]Nope, not even close. They all are around 325-375k now. Was around 300-350k late 2008.[/quote]So, I guess you don’t spend *too* much time searching. It’s actually an entertaining little search in Redfin…
[quote=AN]With 250k, 20% down & 5% interest rate, PITI would be around $1400/month. If it rents for $1700/month, that’s $3600/year in profit. From a $50k investment. That’s 6% return before talking about any write offs. That sounds pretty decent to me. At $200k, we’re looking at ~$6500/yr. That’s over 10% return.[/quote]What writeoffs? Depreciation and expenses of course, but it’s the latter that’s not being considered at all. To me, a safe figure for annual “overhead” is around 5% of rental income. This covers things like maintenance and gaps in tenancy. So, again seems breakeven to me at best and you’re out 50 grand.
Obviously better at $200K, but I also suppose once prices do get back down to those ranges, the possibility of actual appreciation seems to become more likely.
Participant[quote=AN]Nope, not even close. They all are around 325-375k now. Was around 300-350k late 2008.[/quote]So, I guess you don’t spend *too* much time searching. It’s actually an entertaining little search in Redfin…
[quote=AN]With 250k, 20% down & 5% interest rate, PITI would be around $1400/month. If it rents for $1700/month, that’s $3600/year in profit. From a $50k investment. That’s 6% return before talking about any write offs. That sounds pretty decent to me. At $200k, we’re looking at ~$6500/yr. That’s over 10% return.[/quote]What writeoffs? Depreciation and expenses of course, but it’s the latter that’s not being considered at all. To me, a safe figure for annual “overhead” is around 5% of rental income. This covers things like maintenance and gaps in tenancy. So, again seems breakeven to me at best and you’re out 50 grand.
Obviously better at $200K, but I also suppose once prices do get back down to those ranges, the possibility of actual appreciation seems to become more likely.
Participant[quote=AN]Nope, not even close. They all are around 325-375k now. Was around 300-350k late 2008.[/quote]So, I guess you don’t spend *too* much time searching. It’s actually an entertaining little search in Redfin…
[quote=AN]With 250k, 20% down & 5% interest rate, PITI would be around $1400/month. If it rents for $1700/month, that’s $3600/year in profit. From a $50k investment. That’s 6% return before talking about any write offs. That sounds pretty decent to me. At $200k, we’re looking at ~$6500/yr. That’s over 10% return.[/quote]What writeoffs? Depreciation and expenses of course, but it’s the latter that’s not being considered at all. To me, a safe figure for annual “overhead” is around 5% of rental income. This covers things like maintenance and gaps in tenancy. So, again seems breakeven to me at best and you’re out 50 grand.
Obviously better at $200K, but I also suppose once prices do get back down to those ranges, the possibility of actual appreciation seems to become more likely.
ParticipantDo you run into much that even comes close to that? I see two properties for ~$258, but neither of those look like they’d fetch near $1700 a month in rent. Also, at that price ($250ish), it still seems like a borderline money losing situation.
And that’s after you’ve plunked down around $30K (I assume one has to put at least 10% down, maybe that’s not right?).
At $200K, you’d do better, but probably couldn’t exact the same rent either.
ParticipantDo you run into much that even comes close to that? I see two properties for ~$258, but neither of those look like they’d fetch near $1700 a month in rent. Also, at that price ($250ish), it still seems like a borderline money losing situation.
And that’s after you’ve plunked down around $30K (I assume one has to put at least 10% down, maybe that’s not right?).
At $200K, you’d do better, but probably couldn’t exact the same rent either.
ParticipantDo you run into much that even comes close to that? I see two properties for ~$258, but neither of those look like they’d fetch near $1700 a month in rent. Also, at that price ($250ish), it still seems like a borderline money losing situation.
And that’s after you’ve plunked down around $30K (I assume one has to put at least 10% down, maybe that’s not right?).
At $200K, you’d do better, but probably couldn’t exact the same rent either.
ParticipantDo you run into much that even comes close to that? I see two properties for ~$258, but neither of those look like they’d fetch near $1700 a month in rent. Also, at that price ($250ish), it still seems like a borderline money losing situation.
And that’s after you’ve plunked down around $30K (I assume one has to put at least 10% down, maybe that’s not right?).
At $200K, you’d do better, but probably couldn’t exact the same rent either.
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