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surveyor
Participantoh btw
I estimated the repair cost:
bathroom: $3,000
Washer/dryer: $1,000
Frig: $500
Dishwasher: $400
Range: %500
Countertop and Cabinets under: $10,000.
Flooring: $4,000
So it is close to $20,000.All those items above can be depreciated as well (chattel depreciation). The IRS has guidelines on how you can depreciate it, but it could give you around $6000 in taxes back…
Participantoh btw
I estimated the repair cost:
bathroom: $3,000
Washer/dryer: $1,000
Frig: $500
Dishwasher: $400
Range: %500
Countertop and Cabinets under: $10,000.
Flooring: $4,000
So it is close to $20,000.All those items above can be depreciated as well (chattel depreciation). The IRS has guidelines on how you can depreciate it, but it could give you around $6000 in taxes back…
Participantoh btw
I estimated the repair cost:
bathroom: $3,000
Washer/dryer: $1,000
Frig: $500
Dishwasher: $400
Range: %500
Countertop and Cabinets under: $10,000.
Flooring: $4,000
So it is close to $20,000.All those items above can be depreciated as well (chattel depreciation). The IRS has guidelines on how you can depreciate it, but it could give you around $6000 in taxes back…
Participantgold coast
I’m a little familiar with the area. As long as you price the rent appropriately, you should not have a problem finding tenants. Mira Mesa has a low vacancy rate. Try not to choose single college students. I would recommend a small family, they tend to be more stable and not prone to wrecking the place.
From my research (take a look at zilpy.com), the property might fetch around $1400 to $1500 per month rent (although I’ve found zilpy tends to be around 10% over the market price).
There is nothing wrong with expecting appreciation if you are planning on holding the property for over 5 years. A 4% appreciation rate over 10 years is not unreasonable for this property.
I would try to bargain down hard as much as possible, but even at $120k, it sounds like a good investment. The numbers look good.
Participantgold coast
I’m a little familiar with the area. As long as you price the rent appropriately, you should not have a problem finding tenants. Mira Mesa has a low vacancy rate. Try not to choose single college students. I would recommend a small family, they tend to be more stable and not prone to wrecking the place.
From my research (take a look at zilpy.com), the property might fetch around $1400 to $1500 per month rent (although I’ve found zilpy tends to be around 10% over the market price).
There is nothing wrong with expecting appreciation if you are planning on holding the property for over 5 years. A 4% appreciation rate over 10 years is not unreasonable for this property.
I would try to bargain down hard as much as possible, but even at $120k, it sounds like a good investment. The numbers look good.
Participantgold coast
I’m a little familiar with the area. As long as you price the rent appropriately, you should not have a problem finding tenants. Mira Mesa has a low vacancy rate. Try not to choose single college students. I would recommend a small family, they tend to be more stable and not prone to wrecking the place.
From my research (take a look at zilpy.com), the property might fetch around $1400 to $1500 per month rent (although I’ve found zilpy tends to be around 10% over the market price).
There is nothing wrong with expecting appreciation if you are planning on holding the property for over 5 years. A 4% appreciation rate over 10 years is not unreasonable for this property.
I would try to bargain down hard as much as possible, but even at $120k, it sounds like a good investment. The numbers look good.
Participantgold coast
I’m a little familiar with the area. As long as you price the rent appropriately, you should not have a problem finding tenants. Mira Mesa has a low vacancy rate. Try not to choose single college students. I would recommend a small family, they tend to be more stable and not prone to wrecking the place.
From my research (take a look at zilpy.com), the property might fetch around $1400 to $1500 per month rent (although I’ve found zilpy tends to be around 10% over the market price).
There is nothing wrong with expecting appreciation if you are planning on holding the property for over 5 years. A 4% appreciation rate over 10 years is not unreasonable for this property.
I would try to bargain down hard as much as possible, but even at $120k, it sounds like a good investment. The numbers look good.
Participantgold coast
I’m a little familiar with the area. As long as you price the rent appropriately, you should not have a problem finding tenants. Mira Mesa has a low vacancy rate. Try not to choose single college students. I would recommend a small family, they tend to be more stable and not prone to wrecking the place.
From my research (take a look at zilpy.com), the property might fetch around $1400 to $1500 per month rent (although I’ve found zilpy tends to be around 10% over the market price).
There is nothing wrong with expecting appreciation if you are planning on holding the property for over 5 years. A 4% appreciation rate over 10 years is not unreasonable for this property.
I would try to bargain down hard as much as possible, but even at $120k, it sounds like a good investment. The numbers look good.
Participantsemantics
There is a certain vocabulary for those with open minds. The vocabulary you used, the phrases, those are indicative of a closed mind.
Paranoid beliefs like “the man is keeping me down.” “The rich have fixed the game.” These statements show how your world is viewed and are ultimately self-defeating. The sign of an open mind is the use of reason and logic to analyze a situation as opposed to straw man arguments.
Here, this is how logic works.
Fact: Government spends money badly.
Fact: The more money you give to government, the more it spends badly.
No matter how much money rich people have, it does not change these facts.
Participantsemantics
There is a certain vocabulary for those with open minds. The vocabulary you used, the phrases, those are indicative of a closed mind.
Paranoid beliefs like “the man is keeping me down.” “The rich have fixed the game.” These statements show how your world is viewed and are ultimately self-defeating. The sign of an open mind is the use of reason and logic to analyze a situation as opposed to straw man arguments.
Here, this is how logic works.
Fact: Government spends money badly.
Fact: The more money you give to government, the more it spends badly.
No matter how much money rich people have, it does not change these facts.
Participantsemantics
There is a certain vocabulary for those with open minds. The vocabulary you used, the phrases, those are indicative of a closed mind.
Paranoid beliefs like “the man is keeping me down.” “The rich have fixed the game.” These statements show how your world is viewed and are ultimately self-defeating. The sign of an open mind is the use of reason and logic to analyze a situation as opposed to straw man arguments.
Here, this is how logic works.
Fact: Government spends money badly.
Fact: The more money you give to government, the more it spends badly.
No matter how much money rich people have, it does not change these facts.
Participantsemantics
There is a certain vocabulary for those with open minds. The vocabulary you used, the phrases, those are indicative of a closed mind.
Paranoid beliefs like “the man is keeping me down.” “The rich have fixed the game.” These statements show how your world is viewed and are ultimately self-defeating. The sign of an open mind is the use of reason and logic to analyze a situation as opposed to straw man arguments.
Here, this is how logic works.
Fact: Government spends money badly.
Fact: The more money you give to government, the more it spends badly.
No matter how much money rich people have, it does not change these facts.
Participantsemantics
There is a certain vocabulary for those with open minds. The vocabulary you used, the phrases, those are indicative of a closed mind.
Paranoid beliefs like “the man is keeping me down.” “The rich have fixed the game.” These statements show how your world is viewed and are ultimately self-defeating. The sign of an open mind is the use of reason and logic to analyze a situation as opposed to straw man arguments.
Here, this is how logic works.
Fact: Government spends money badly.
Fact: The more money you give to government, the more it spends badly.
No matter how much money rich people have, it does not change these facts.
ParticipanttomoeDave…
Yup, that sounds like an open mind…
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