Posted on 03/02/2024 4:15:16 AM PST by where's_the_Outrage?
He just needs to let the bank foreclose. /s
When looking to buy property, compare the “recently sold” count to the number of properties currently for sale in an area on realtor.com to gauge the strength of the market.
Sometimes and in some places the going prices are..., but little or nothing was gone recently.
yep, taking $100,000 out and uping the interest 50% was not a smart move.
We invested some retirement funds in apartment complexes and music royalties.
Cash flow has been great.
Would do again.
Why would I sell something that brings a good income and excellent equity gains?
I got smashed by Ian. One of ny units is still down after 1.5 years... still an amazing investment that's worth way more than I paid. Once it's up again I'll be killing it.
To your point though, when buying real estate you need to be able to hold and maintain it. Proper long-term planning too.
The subject of this article is a total moron, who doesn't even seem to bother with math.
Exactly.
Agree 100%.
So in your (tiny) mind, illegal alien construction workers are the sole factor determining new construction costs?
Stick to harping for funding the Ukraine $**thole - you totally suck at real estate.
Owner should have just done a heloc and only paid 7% on what he took out and not refinanced whole amount
At 8% mortgage and leveraged 80% it is. At 3-5% mortgage and leveraged 50-60% its fairly easy to make money. They are work though and there will be repairs. Usually should set aside 5-10% of rents for maintenance and repairs depending on the property type (house, condo, townhome) and age.
Small landlords will never make money again. Cut your losses and get out.
Not a good idea, especially on a nonrecourse loan.
I learned long ago do not run a business with borrowed money.
7.9%
I paid that on an old house back in 1977. Refinanced at a lower rate in 1986, sold it in 1994. Bought a vandalized house outright in 1989, rebuilt it and have been payment free since 1994.
Life is good payment free!
After he sells the house he should enroll in the local community college basic math class.
Lol.
I have questioned the authenticity of many of the letters to Marketwatch. People describe outlandish scenarios, and ask the most foolish questions.
Just curious, where can you buy a house for $35k?
Made me look($30k), 9,000 listing. Same are traditional built:
https://buysellsearch.com/realestate/for-sale/type-homes/under-30000
Same = Some
We have friends who have a lot of rentals in a modest touristy spot. It’s been like printing money for them. They are about an hour and a half drive from that area. It started off as their own weekend getaway place, but they started renting it out when they didn’t use it, and had a maintenance company help them manage it. So they built a couple more cabins, and then rented those out. I bet they have 10 places by now, from small one bedroom cabins to larger 6-8 room lodges for groups. They asked us if we wanted to get in on it, but we live further away now, and don’t have the cash flow that they do. For some people who can manage it, it works great.
The ones I saw listed for sale in my area are in high crime neighborhoods. I wouldn’t want to even drive in the neighborhood to go look at those houses. Thanks for showing me the search though.
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