the Outlaw wrote:
I may have an opportunity to purchase a ten unit apartment unit.
Thoughts?
Anyone do this?
Thoughts?
Anyone do this?
Are you good at unplugging toilets ? :D
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| Author: | the Outlaw [ Mon May 10, 2010 7:39 pm ] |
| Post subject: | Investment prop |
I may have an opportunity to purchase a ten unit apartment unit. Thoughts? Anyone do this? |
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| Author: | Jim [ Mon May 10, 2010 8:28 pm ] | ||
| Post subject: | Re: Investment prop | ||
the Outlaw wrote: I may have an opportunity to purchase a ten unit apartment unit. Thoughts? Anyone do this? Are you good at unplugging toilets ? :D
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| Author: | Rich [ Mon May 10, 2010 9:53 pm ] |
| Post subject: | Re: Investment prop |
Keep in mind that properties are generally overvalued in most areas (including yours). The OFHEO and Case-Shiller home price indexes are your friend. See here: http://www.housingbubblebust.com/OFHEO/Major/NorthWest.html Notice the general direction of property values (i.e. nosedive) and the fact that they are still selling in bubble territory above the inflation index. Given the huge amount of existing inventory and pending foreclosures due to idiot-loan rate resets... See here: http://www.doctorhousingbubble.com/wp-content/uploads/2010/05/option-arm-chart.gif Its safe to say that property values will continue on a downward spiral. So... I wouldn't bother unless its an incredible deal. |
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| Author: | the Outlaw [ Tue May 11, 2010 7:35 am ] |
| Post subject: | Re: Investment prop |
I was using: (rate of return / cost) = % to compare. Plus all the extra unforeseen cost. Yeah, probably not worth it. The owner is 80-something, just wants to "retire". |
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| Author: | N7QOR [ Wed May 12, 2010 8:47 pm ] |
| Post subject: | Re: Investment prop |
the Outlaw wrote: I was using: (rate of return / cost) = % to compare. Plus all the extra unforeseen cost. Yeah, probably not worth it. The owner is 80-something, just wants to "retire". I have a co-worker who has 1 or 2 of these himself. Managed properly, the can o' worms is not always so messy. Are you a gamblin' man? |
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| Author: | the Outlaw [ Thu May 13, 2010 11:31 am ] |
| Post subject: | Re: Investment prop |
I am not. This one needs some work, I will pass. Not enough return. |
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| Author: | Jim [ Thu May 13, 2010 4:31 pm ] |
| Post subject: | Re: Investment prop |
the Outlaw wrote: I am not. This one needs some work, I will pass. Not enough return. Wow! Think of all the money you just saved. Now you can buy a new radio or some fishing gear or both. :D |
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| Author: | the Outlaw [ Thu May 13, 2010 7:56 pm ] |
| Post subject: | Re: Investment prop |
I'm due for a new bike.  Jim wrote: the Outlaw wrote: I am not. This one needs some work, I will pass. Not enough return. Wow! Think of all the money you just saved. Now you can buy a new radio or some fishing gear or both. :D |
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| Author: | Jim [ Thu May 13, 2010 8:08 pm ] |
| Post subject: | Re: Investment prop |
the Outlaw wrote: I'm due for a new bike. Jim wrote: the Outlaw wrote: I am not. This one needs some work, I will pass. Not enough return. Wow! Think of all the money you just saved. Now you can buy a new radio or some fishing gear or both. :D Well there you go. :D |
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