[UCGal]

I’ve been looking seriously at rental properties… So far nothing has cashflowed. Looked at a duplex today that I calculated would work at about $100k less than asking… Found out there was a cash offer at $50k less than asking and a full list offer (typical financing).

I don’t see appreciation in rents or in the rental units… so if it doesn’t cashflow, it’s not worth it.

At least with CD’s it’s not losing money.

[UCGal]

I’ve been looking seriously at rental properties… So far nothing has cashflowed. Looked at a duplex today that I calculated would work at about $100k less than asking… Found out there was a cash offer at $50k less than asking and a full list offer (typical financing).

I don’t see appreciation in rents or in the rental units… so if it doesn’t cashflow, it’s not worth it.

At least with CD’s it’s not losing money.

[UCGal]

I’ve been looking seriously at rental properties… So far nothing has cashflowed. Looked at a duplex today that I calculated would work at about $100k less than asking… Found out there was a cash offer at $50k less than asking and a full list offer (typical financing).

I don’t see appreciation in rents or in the rental units… so if it doesn’t cashflow, it’s not worth it.

At least with CD’s it’s not losing money.

[UCGal]

Nor-LA… They’re in a separate house… It’s on the same lot, but it makes a big difference having them in their own house. More sanity for everyone, lol.

CAR – no problem. Hubby designed the house and went through the serious kafka experience of getting development services to approve the granny flat. The reason permited/legal granny flats are rare in San Diego is because they’ve made it extremely difficult with conflicting rules about street walls, parking, lot size and location on the lot of the granny flat. When you’re ready, feel free to pick our brains.

And yes – we bought our house from my dad when he was downsizing after my mom passed.

[UCGal]

Nor-LA… They’re in a separate house… It’s on the same lot, but it makes a big difference having them in their own house. More sanity for everyone, lol.

CAR – no problem. Hubby designed the house and went through the serious kafka experience of getting development services to approve the granny flat. The reason permited/legal granny flats are rare in San Diego is because they’ve made it extremely difficult with conflicting rules about street walls, parking, lot size and location on the lot of the granny flat. When you’re ready, feel free to pick our brains.

And yes – we bought our house from my dad when he was downsizing after my mom passed.

[UCGal]

Nor-LA… They’re in a separate house… It’s on the same lot, but it makes a big difference having them in their own house. More sanity for everyone, lol.

CAR – no problem. Hubby designed the house and went through the serious kafka experience of getting development services to approve the granny flat. The reason permited/legal granny flats are rare in San Diego is because they’ve made it extremely difficult with conflicting rules about street walls, parking, lot size and location on the lot of the granny flat. When you’re ready, feel free to pick our brains.

And yes – we bought our house from my dad when he was downsizing after my mom passed.

[UCGal]

Nor-LA… They’re in a separate house… It’s on the same lot, but it makes a big difference having them in their own house. More sanity for everyone, lol.

CAR – no problem. Hubby designed the house and went through the serious kafka experience of getting development services to approve the granny flat. The reason permited/legal granny flats are rare in San Diego is because they’ve made it extremely difficult with conflicting rules about street walls, parking, lot size and location on the lot of the granny flat. When you’re ready, feel free to pick our brains.

And yes – we bought our house from my dad when he was downsizing after my mom passed.

[UCGal]

Nor-LA… They’re in a separate house… It’s on the same lot, but it makes a big difference having them in their own house. More sanity for everyone, lol.

CAR – no problem. Hubby designed the house and went through the serious kafka experience of getting development services to approve the granny flat. The reason permited/legal granny flats are rare in San Diego is because they’ve made it extremely difficult with conflicting rules about street walls, parking, lot size and location on the lot of the granny flat. When you’re ready, feel free to pick our brains.

And yes – we bought our house from my dad when he was downsizing after my mom passed.

[UCGal]

[quote=CA renter]When I refer to the ~40% being investors, I’m including the off-market stuff like bulk sales, bulk MBS purchases, etc… in addition to flippers, landlords, second-home “investors,” etc. Hundreds of billions of dollars (trillions???) are being transacted that we are not privy to. What we see on the MLS is likely a very small portion of what’s really going on, IMHO.
[/quote]

Why are landlords who buy a property, hold it, rent it out, pay the mortgage, insurance, maintenance, etc in the same category as bulk sale buyers and flippers?

Disclaimer – I’m considering getting into the landlord business if I can find a deal that pencils. And I’d pay cash at the steps if it would get me a better deal. I’d be stupid not to consider trustee sales as a way of reducing my investment hit.

[UCGal]

[quote=CA renter]When I refer to the ~40% being investors, I’m including the off-market stuff like bulk sales, bulk MBS purchases, etc… in addition to flippers, landlords, second-home “investors,” etc. Hundreds of billions of dollars (trillions???) are being transacted that we are not privy to. What we see on the MLS is likely a very small portion of what’s really going on, IMHO.
[/quote]

Why are landlords who buy a property, hold it, rent it out, pay the mortgage, insurance, maintenance, etc in the same category as bulk sale buyers and flippers?

Disclaimer – I’m considering getting into the landlord business if I can find a deal that pencils. And I’d pay cash at the steps if it would get me a better deal. I’d be stupid not to consider trustee sales as a way of reducing my investment hit.

[UCGal]

[quote=CA renter]When I refer to the ~40% being investors, I’m including the off-market stuff like bulk sales, bulk MBS purchases, etc… in addition to flippers, landlords, second-home “investors,” etc. Hundreds of billions of dollars (trillions???) are being transacted that we are not privy to. What we see on the MLS is likely a very small portion of what’s really going on, IMHO.
[/quote]

Why are landlords who buy a property, hold it, rent it out, pay the mortgage, insurance, maintenance, etc in the same category as bulk sale buyers and flippers?

Disclaimer – I’m considering getting into the landlord business if I can find a deal that pencils. And I’d pay cash at the steps if it would get me a better deal. I’d be stupid not to consider trustee sales as a way of reducing my investment hit.

[UCGal]

[quote=CA renter]When I refer to the ~40% being investors, I’m including the off-market stuff like bulk sales, bulk MBS purchases, etc… in addition to flippers, landlords, second-home “investors,” etc. Hundreds of billions of dollars (trillions???) are being transacted that we are not privy to. What we see on the MLS is likely a very small portion of what’s really going on, IMHO.
[/quote]

Why are landlords who buy a property, hold it, rent it out, pay the mortgage, insurance, maintenance, etc in the same category as bulk sale buyers and flippers?

Disclaimer – I’m considering getting into the landlord business if I can find a deal that pencils. And I’d pay cash at the steps if it would get me a better deal. I’d be stupid not to consider trustee sales as a way of reducing my investment hit.

[UCGal]

[quote=CA renter]When I refer to the ~40% being investors, I’m including the off-market stuff like bulk sales, bulk MBS purchases, etc… in addition to flippers, landlords, second-home “investors,” etc. Hundreds of billions of dollars (trillions???) are being transacted that we are not privy to. What we see on the MLS is likely a very small portion of what’s really going on, IMHO.
[/quote]

Why are landlords who buy a property, hold it, rent it out, pay the mortgage, insurance, maintenance, etc in the same category as bulk sale buyers and flippers?

Disclaimer – I’m considering getting into the landlord business if I can find a deal that pencils. And I’d pay cash at the steps if it would get me a better deal. I’d be stupid not to consider trustee sales as a way of reducing my investment hit.

[UCGal]

[quote=CA renter][quote=scaredycat]i think when you’re younger, less will do. you’re happy just to have your own place. now there are so many additional requirements, it’s like, damn, we’re never going to get such a place….[/quote]

And as you know, once you have kids, all the “requirements” just go through the roof.

My DH and I often talk about how nice it will be when we’re retired and looking for a place just for us. The world will be our oyster because your options really open up when not having to consider kids. Just a couple of bedrooms, small kitchen, small/simple yard, etc. We could easily live in 600-800 square feet as a couple, but with kids that seems to expand to 2,500-3,500!!! (gotta plan for the in-laws, too, at some point)

And everyone else out there is looking for exactly the same thing… 😉

Frustrating, isn’t it?[/quote]

CA Renter – I think you and I are on the same page with respect to in-laws. As you know we built a casita (single level, detached, wheelchair friendly) for my inlaws. Our long term plan is to move into that when we retire… Our thinking is once the kids are gone we’ll need less space, so our current house can be rented to some other family with kids (income) and we’ll take that $ to travel or buy a boat. In the meantime we have a family friendly 2000sf house and my kids grandparents 100 ft away in their own house. Truly a good situation.

But we had to modify/build to get that setup. And the “family friendly” home is smaller than most people insist on now… needs updating. But it functions and we’re happy.

[UCGal]

[quote=CA renter][quote=scaredycat]i think when you’re younger, less will do. you’re happy just to have your own place. now there are so many additional requirements, it’s like, damn, we’re never going to get such a place….[/quote]

And as you know, once you have kids, all the “requirements” just go through the roof.

My DH and I often talk about how nice it will be when we’re retired and looking for a place just for us. The world will be our oyster because your options really open up when not having to consider kids. Just a couple of bedrooms, small kitchen, small/simple yard, etc. We could easily live in 600-800 square feet as a couple, but with kids that seems to expand to 2,500-3,500!!! (gotta plan for the in-laws, too, at some point)

And everyone else out there is looking for exactly the same thing… 😉

Frustrating, isn’t it?[/quote]

CA Renter – I think you and I are on the same page with respect to in-laws. As you know we built a casita (single level, detached, wheelchair friendly) for my inlaws. Our long term plan is to move into that when we retire… Our thinking is once the kids are gone we’ll need less space, so our current house can be rented to some other family with kids (income) and we’ll take that $ to travel or buy a boat. In the meantime we have a family friendly 2000sf house and my kids grandparents 100 ft away in their own house. Truly a good situation.

But we had to modify/build to get that setup. And the “family friendly” home is smaller than most people insist on now… needs updating. But it functions and we’re happy.

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