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spdrun
ParticipantPunished? What do you think will happen if one of them loses a job?
Plus if they’re living from paycheck to paycheck, good luck to them if they want to take a vacation, see the world, take time off, etc. They’ve made themselves some very nice jail cells, complete with pools and renovated kitchens.
Don’t envy if you should pity. Think of it as the Martha Stewart house-arrest plan.
ParticipantWell unless Iraq takes us down Temporarily for a little while first.
Then here’s to Iraq. And Ukraine. And $200/bbl oil. *clink*
ParticipantThis doesn’t mean that individual assets won’t be subject to deflation, just that the mean will increase.
ParticipantYes. I’ve seen such pictures and they tend to pique my interest in a property. I realize that a lot of people have no imagination, so reverse staging might reduce competition for a property with good bones.
ParticipantSome parents will do absolutely anything to remain in a particular school attendance area after getting foreclosed upon or forced into short-selling their family’s home.
How many of those people would be interested in renting 1/1 condos or apartments? And if they’re living in that level of squalor with children, wouldn’t they be risking an irate neighbor reporting then to Child Welfare Services?
Parent rental applicants with school-age children who have never left the area but have no legitimate rental references (or give friends/relatives names as “fake” references), may have dubious income sources which are unverifiable and have one or more former SS/FC’s on their record which happened YEARS AGO … BIG RED FLAG, folks. SFR owners beware, they’re out there
Why would anyone rent to someone like that? We’re talking about multiple red flags waving atcha.
Participant^^^
“2 or 3 of your tenants get laid off and decide to leave your properties.”
If you read the scenario I was speaking to, the tenants had already left. True: eviction would be a worse deal.
Solution might be to try not to rent to people from the same firm or industry and keep rentals somewhat geographically diverse. i.e. one in Pac Beach, one in Mira Mesa, one in O’Side, one in Mission Valley.
ParticipantIMHO an agent has no business EVER telling a buyer that a property is cheap OR that it is a good investment. Using phrases like charming, and needs TLC etc are just opinions. Even a view is subjective.
True about the subjectives.
But an agent IS qualified to say something is a good investment if s/he brings data to back up the assertion. i.e., purchase cost is x, rent comp is y, closing costs and repairs will be z, expenses will be a, b, c, and d.
Cheap? Sure, but please bring comps 🙂
ParticipantTake a few weeks off and take the kidlet to an interesting foreign country or three (road trip to a part of the US where he hasn’t been also works) rather than forcing him to take “summer school.” Ideally, a situation where you both disconnect from the Intarwebz entirely for a while.
There’s more to life and learning than online classes. But yeah, having him help with bookkeeping wouldn’t be a bad idea.
ParticipantSo you list the two properties $250 under market and rent them to bus drivers or grad students for a year. Shouldn’t be that hard to rent if you drop the rent by $250, and you’ll still break even.
ParticipantIf the monthly nut is lower (function of loan rate and balance) than you can pay at current prevailing home prices and rates for new loans, some buyers will do it, with the assumption that prices will rise again eventually or that it will pencil out as a rental. It was quite common in the 80s, and the only way some people could buy with rates being in double digits.
ParticipantNot necessarily. If rates go up and prices go down, solution would be to make fixed-rate loans assumable. So that people could “sell” their homes by transferring the note vs going through the process of short sale or foreclosure.
June 15, 2014 at 6:20 PM in reply to: Is the “Vision” unrealistic for Bay Park & Bay Ho? #775199ParticipantI didn’t look at the guys — I accidentally cut their car off (they had to expend a bit of precious energy braking and beeping, no danger of an accident). All I can think is that cars make people territorial — they’re an extension of their home and not to be “disrespected” wheres a commuter train is not.
Don’t know about eight year olds, but I definitely see some 10-12 year old looking kids riding the bus to school with a Metrocard in NYC.
ParticipantNot sure they do. Average American (67%) doesn’t even hold a passport, hasn’t stuck his nose outside the US (plenty of people from SD haven’t even been to Mexico). Working hours are long for an industrialized country, especially in white-collar jobs. Vacation time is sparse. Commutes tend to be long and by car.
Paranoia is rampant, causing people to feel the need to support “law and order” candidates (nearly 1% incarceration rate, baby!) and buy firearms for “protection.” Compared to Ukraine or Guatamala, the US may be a paradise. Compared to other wealthy, democratic countries, don’t bet your house.
If “life” consists of square footage of floor space, number of electronic toys, Xanax consumed, and number of cars per capita, I’ll concede.
ParticipantI for one feel that the treatment of returning Vietnam veterans by a disgusted nation was pretty appropriate on the whole.
Except that they were poor schmucks who happened to be unlucky enough to be drafted and a large portion of them probably hated the war as much as the people jeering them.
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