Forum Replies Created
-
AuthorPosts
-
temeculaguy
ParticipantMatt, The taxes I quoted was based on the posted taxes, 2006 $6037 based on a tax valuation of 436k. 220k is close to half, thus resetting the taxes to the new sale price, probably about 3600 or 300 a month, insurance being no more than 100 a month on a 220k property. On zillow it listed the taxes at 3000 in 2004, with a valuation of 175 for the first 9 months of the year and then jumped to 6000 for 2005 because it sold for 415k at the end of august 2004. I very much doubt the taxes would be 4800 a year for a 220k sales price, 3600 is a much better estimate, the 3k on 175 included 1750 for the 1% and the add ons that are mostly fixed per lot, adding 45k to the sales price should add 450 a year plus another 150 for the value based add ons, making 3600 damn close.
Nobody said you had to pay full price and even if it goes for that, there are so many more coming available with great prices that they wont be exeptional, but rather the norm, the original reason for this thread.
ParticipantMatt, The taxes I quoted was based on the posted taxes, 2006 $6037 based on a tax valuation of 436k. 220k is close to half, thus resetting the taxes to the new sale price, probably about 3600 or 300 a month, insurance being no more than 100 a month on a 220k property. On zillow it listed the taxes at 3000 in 2004, with a valuation of 175 for the first 9 months of the year and then jumped to 6000 for 2005 because it sold for 415k at the end of august 2004. I very much doubt the taxes would be 4800 a year for a 220k sales price, 3600 is a much better estimate, the 3k on 175 included 1750 for the 1% and the add ons that are mostly fixed per lot, adding 45k to the sales price should add 450 a year plus another 150 for the value based add ons, making 3600 damn close.
Nobody said you had to pay full price and even if it goes for that, there are so many more coming available with great prices that they wont be exeptional, but rather the norm, the original reason for this thread.
ParticipantMatt, The taxes I quoted was based on the posted taxes, 2006 $6037 based on a tax valuation of 436k. 220k is close to half, thus resetting the taxes to the new sale price, probably about 3600 or 300 a month, insurance being no more than 100 a month on a 220k property. On zillow it listed the taxes at 3000 in 2004, with a valuation of 175 for the first 9 months of the year and then jumped to 6000 for 2005 because it sold for 415k at the end of august 2004. I very much doubt the taxes would be 4800 a year for a 220k sales price, 3600 is a much better estimate, the 3k on 175 included 1750 for the 1% and the add ons that are mostly fixed per lot, adding 45k to the sales price should add 450 a year plus another 150 for the value based add ons, making 3600 damn close.
Nobody said you had to pay full price and even if it goes for that, there are so many more coming available with great prices that they wont be exeptional, but rather the norm, the original reason for this thread.
Participantpat, in the mid 100’s with the numbers you put up, I’d keep it and find a good management company. with your income and the minimal debt on the place and the rental value, it should be cash positive forever and in 12 years it’s free money for life, college towns always do well as rentals. Just consider it part of your retirement portfolio. Rent in DC until it looks like both things happen, r/e collapses there and your employer show no signs of moving you for a long while. Real estate is a terrible short term investment except at the beginning of a bubble and it will be a long time before we start down that path again, maybe a full generation before all is forgotten. My apologies for having a straight guy left coast view and assuming all of OK is the same, I have never lived anywhere in the middle of the country and I blame it all on the fact that I saw footloose one too many times. Good luck, you have enviable financial fundamentals and you would feel like you were in a foreign country out here, our average buyer thinks 150k income merits a 600k mortgage, be thankful for you midwestern economic values, you will be fine.
Participantpat, in the mid 100’s with the numbers you put up, I’d keep it and find a good management company. with your income and the minimal debt on the place and the rental value, it should be cash positive forever and in 12 years it’s free money for life, college towns always do well as rentals. Just consider it part of your retirement portfolio. Rent in DC until it looks like both things happen, r/e collapses there and your employer show no signs of moving you for a long while. Real estate is a terrible short term investment except at the beginning of a bubble and it will be a long time before we start down that path again, maybe a full generation before all is forgotten. My apologies for having a straight guy left coast view and assuming all of OK is the same, I have never lived anywhere in the middle of the country and I blame it all on the fact that I saw footloose one too many times. Good luck, you have enviable financial fundamentals and you would feel like you were in a foreign country out here, our average buyer thinks 150k income merits a 600k mortgage, be thankful for you midwestern economic values, you will be fine.
Participantpat, in the mid 100’s with the numbers you put up, I’d keep it and find a good management company. with your income and the minimal debt on the place and the rental value, it should be cash positive forever and in 12 years it’s free money for life, college towns always do well as rentals. Just consider it part of your retirement portfolio. Rent in DC until it looks like both things happen, r/e collapses there and your employer show no signs of moving you for a long while. Real estate is a terrible short term investment except at the beginning of a bubble and it will be a long time before we start down that path again, maybe a full generation before all is forgotten. My apologies for having a straight guy left coast view and assuming all of OK is the same, I have never lived anywhere in the middle of the country and I blame it all on the fact that I saw footloose one too many times. Good luck, you have enviable financial fundamentals and you would feel like you were in a foreign country out here, our average buyer thinks 150k income merits a 600k mortgage, be thankful for you midwestern economic values, you will be fine.
Participantpat, in the mid 100’s with the numbers you put up, I’d keep it and find a good management company. with your income and the minimal debt on the place and the rental value, it should be cash positive forever and in 12 years it’s free money for life, college towns always do well as rentals. Just consider it part of your retirement portfolio. Rent in DC until it looks like both things happen, r/e collapses there and your employer show no signs of moving you for a long while. Real estate is a terrible short term investment except at the beginning of a bubble and it will be a long time before we start down that path again, maybe a full generation before all is forgotten. My apologies for having a straight guy left coast view and assuming all of OK is the same, I have never lived anywhere in the middle of the country and I blame it all on the fact that I saw footloose one too many times. Good luck, you have enviable financial fundamentals and you would feel like you were in a foreign country out here, our average buyer thinks 150k income merits a 600k mortgage, be thankful for you midwestern economic values, you will be fine.
Participantpat, in the mid 100’s with the numbers you put up, I’d keep it and find a good management company. with your income and the minimal debt on the place and the rental value, it should be cash positive forever and in 12 years it’s free money for life, college towns always do well as rentals. Just consider it part of your retirement portfolio. Rent in DC until it looks like both things happen, r/e collapses there and your employer show no signs of moving you for a long while. Real estate is a terrible short term investment except at the beginning of a bubble and it will be a long time before we start down that path again, maybe a full generation before all is forgotten. My apologies for having a straight guy left coast view and assuming all of OK is the same, I have never lived anywhere in the middle of the country and I blame it all on the fact that I saw footloose one too many times. Good luck, you have enviable financial fundamentals and you would feel like you were in a foreign country out here, our average buyer thinks 150k income merits a 600k mortgage, be thankful for you midwestern economic values, you will be fine.
ParticipantI have a couple of questions:
1. What is the market value if you chose to sell?
2. What is the loan balance roughly?
3. How did you come up with $1500 as fair rent?
4. What the heck are you doing in Oklahoma, it must be brutal living in the bible belt and being gay (I’m only assuming that becuase domestic partner is rarely used in lieu of girlfriend/boyfriend).
5. Do you have the cash and income to qualify for a second purchase down the road and being able to carry both houses with reserves if there is a gap in renters.My advice without knowing the answers, live where you and your partner are happy, have a management company handle the rental and just rent somewhere because you have a job that is subject to moving you great distances. Get to one of the coasts where nobody cares what your orientation or living situation is.
ParticipantI have a couple of questions:
1. What is the market value if you chose to sell?
2. What is the loan balance roughly?
3. How did you come up with $1500 as fair rent?
4. What the heck are you doing in Oklahoma, it must be brutal living in the bible belt and being gay (I’m only assuming that becuase domestic partner is rarely used in lieu of girlfriend/boyfriend).
5. Do you have the cash and income to qualify for a second purchase down the road and being able to carry both houses with reserves if there is a gap in renters.My advice without knowing the answers, live where you and your partner are happy, have a management company handle the rental and just rent somewhere because you have a job that is subject to moving you great distances. Get to one of the coasts where nobody cares what your orientation or living situation is.
ParticipantI have a couple of questions:
1. What is the market value if you chose to sell?
2. What is the loan balance roughly?
3. How did you come up with $1500 as fair rent?
4. What the heck are you doing in Oklahoma, it must be brutal living in the bible belt and being gay (I’m only assuming that becuase domestic partner is rarely used in lieu of girlfriend/boyfriend).
5. Do you have the cash and income to qualify for a second purchase down the road and being able to carry both houses with reserves if there is a gap in renters.My advice without knowing the answers, live where you and your partner are happy, have a management company handle the rental and just rent somewhere because you have a job that is subject to moving you great distances. Get to one of the coasts where nobody cares what your orientation or living situation is.
ParticipantI have a couple of questions:
1. What is the market value if you chose to sell?
2. What is the loan balance roughly?
3. How did you come up with $1500 as fair rent?
4. What the heck are you doing in Oklahoma, it must be brutal living in the bible belt and being gay (I’m only assuming that becuase domestic partner is rarely used in lieu of girlfriend/boyfriend).
5. Do you have the cash and income to qualify for a second purchase down the road and being able to carry both houses with reserves if there is a gap in renters.My advice without knowing the answers, live where you and your partner are happy, have a management company handle the rental and just rent somewhere because you have a job that is subject to moving you great distances. Get to one of the coasts where nobody cares what your orientation or living situation is.
ParticipantI have a couple of questions:
1. What is the market value if you chose to sell?
2. What is the loan balance roughly?
3. How did you come up with $1500 as fair rent?
4. What the heck are you doing in Oklahoma, it must be brutal living in the bible belt and being gay (I’m only assuming that becuase domestic partner is rarely used in lieu of girlfriend/boyfriend).
5. Do you have the cash and income to qualify for a second purchase down the road and being able to carry both houses with reserves if there is a gap in renters.My advice without knowing the answers, live where you and your partner are happy, have a management company handle the rental and just rent somewhere because you have a job that is subject to moving you great distances. Get to one of the coasts where nobody cares what your orientation or living situation is.
ParticipantJimmy, awesome find, I’m still laughing I can hardly type. The one about the owners son on house arrest, you can see the monitoring bracelet on his ankle, omg that is the best.
-
AuthorPosts
