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spdrun
ParticipantPredicted gross income has to be at least 25% greater than the sum of:
(1) Property taxes
(2) Predicted maintenance expenses
(3) Predicted utility costs
(4) Insurance costs
(5) Mortgage payment at the rate the lender doesBasically, “if the property cash flows well, we’ll lend on it.” And remember that having the property held in the name of a corporation becomes easier with commercial loans.
ParticipantRaised a Christian scientist, actually 🙂
Mafia is typically Italian, but are you saying that organized crime families of other ethnicities don’t exist? la EME. Mara Salvatrucha. Russian Vory v zakone.
ParticipantIf he’s buying with a mortgage in AZ or FL, he may be able to grab a 5+ unit property that quals for commercial financing at a reasonable price. Whole different ball game since as long as the borrower is credit-worthy, the property is vetted more than the borrower. i.e., as a mortgage broker told me, if the deal makes sense — income less vacancy rate is 1.25x expenses at prevailing mortgage rates, then he’ll find someone to finance the deal.
ParticipantGeithner? Paulson? O’Neill? Snow? Really?
ParticipantDo you really believe in some grand conspiracy, or are you just trolling now? Speaking of ethnicity, on a personal level, I know a lot more WASPy white-shoe types that were drawn to the banking industry than Jewish people.
ParticipantAlso, regardless of the reason sdprun likes to include Bernankes hebrew middle name, it is relevant that he is Jewish.
Hell no – his ethnicity isn’t relevant in that sense. Plenty of crooks and morons of all stripes in the banking industry. Was Vikram Pandit Jewish? How about Nicky Leeson? Prescott Bush?
The fact that he’s an asshat one-trick pony who’s creating an illusion of wealth while doing damage is relevant irrespective of ethnicity. Are you one of the clowns who also thinks that no Jews died in WTC because of some soooper seecrit conspiracy? (Hint: I knew a few, and their children as well.)
ParticipantBy the time it’s fully depreciated, it’s almost paid off. Why not borrow against it (assuming favorable rates) and buy another property? As Angelo Sangiacomo (infamous landlord of SF said) “never sell.”
ParticipantI’m disparaging the man because of his policies, but I’m also not above low blows. When Obama does something I don’t like, I also say “Barack Hussein,” and I referred to Idiot Son Bush as “Dubya” all the time when he was waving his microscopic “stick” around in Iraq without any idea how to pay for it.
And yeah, I’m prejudiced against corrupt criminals in power, or perhaps I’m a universal bigot. Is this somehow a problem? And having a high-class thief with a middle-name like Shalom is hilarious to me.
I’m impolite, crude, but I tell it like it is. If you don’t like it, there’s a little thing called an ignore list on this forum. Feel free to use it 🙂
ParticipantBigotry? Shalom is his middle name. It means “peace”, which is pretty ironic for a little fuckin’ gonef who is robbing this country’s middle class blind and abetting class warfare.
Is calling Barack “Hussein” or Boosh “Dubya” also an example of bigotry, or is Bernanke somehow immune to use of his middle name because of his religion?
ParticipantI don’t own the kinds of stocks that correlate to the market averages well. Let’s just say that I owned SPWR for the past year and few months. Sold it a while back, but it’s been a fun ride day-trading the little mofo when the opportunity arises.
March 4, 2013 at 11:22 PM in reply to: OT: Public Employee Unions Attack the City of San Diego/Prop B #760313ParticipantSpeaking to cops — there are many more dangerous and equally needed occupations. Roofer. Farmer. Builder. Fisherman. Why do cops deserve special treatment or better treatment than those workers?
Teachers and firefighters I actually have the utmost respect for. Firefighting is tough, nasty work. At least on this coast, teachers don’t get paid enough for the crap they put up with, and a good teacher who can inspire students is worth their weight in gold.
ParticipantThe math makes it all seem like peaches and ice cream. I’m not being sarcastic, but I wonder why more people aren’t getting into it, because it sure beats a regular wage job.
Because most people:
(a) aren’t mechanically handy
(b) think that landlords are big corporations, and that the little guy can’t succeed at something like that
(c) don’t have good business sense
(d) don’t have access to 20% to put down on rental properties
(e) have heard horror stories about their great uncle’s dog’s breeder who rented a house out and got it turned into a clubhouse by a meth-smoking outlaw bikie gang
(f) are fat, dumb, and somewhat happy with their 9-5 gig. OK, maybe not happy, but not as anarchistic as I.Participant“5. That’s why I do it – it’s below rental parity. This is now, not a year or 2 ago – my properties from back then do a lot better. With the Phoenix market progressing – pretty soon this window of below rental parity will be gone.”
Unknown — I think the market in Phoenix is only progressing BECAUSE properties are below rental parity. Once parity is approached, investor demand will shrink to nearly zero, and that’s what’s driving the market right now.
ParticipantBest way is to talk to his/her friends. Talk to their family. Talk to their last (not current, who may want them out) landlord. Talk to a professional contact. This is where 3-4 references, phone #s not letters, come in.
Talk to THEM for 15 minutes. You can usually tell who’s who, and if you have only a few properties, you have a lot more time to vet prospective tenants than if you manage 10 100-unit apartment houses.
Oh, and trust your amygdala.
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