Augie

Covid is the reason we didn’t get a dome. The world knows that. Just sayin’! 😋 It’s funny, but when we all hunkered down it was about being entertained at home (lots of streaming)…and puppies. People figured I’m going to be home, now is the time to get a dog and train it. We were already on the list for a pup and our breeder said if he had 100 puppies he could have sold them in a weekend. I don’t want anyone to lose their livelihood, but I try to avoid Booger just as much as Stephen A. I never liked him, but he strongly agreed with the Cody Ford crack back block penalty in the playoffs. The call the league later apologized for. Since then I’ve been waiting for him to say something intelligent. Still waiting.

One call, that’s all! 😋 Yeah, he’s not your guy either.

Yes. Some real estate attorneys also try to create a niche with 1031 Exchange practices. It’s not super common, but it’s not obscure either. You’ll probably want a closing attorney who has done it before.

The remote control in my hand says I don’t have to watch that movie.

OK, if that makes you happy. I’ve learned to completely ignore him. I’m not a fan of people screaming at me in general, so I avoid ESPN as much as possible. He’s the worst of the bunch, IMO.

Do your homework on a 1031 Exchange (mentioned above, I believe). You get to avoid taxes on the gain from the sale of the old property if you flip it into a new investment property. I won’t go too deep, because I know just enough to get you into trouble, but it can help you avoid tax implications if you do it within the time limit. It would be worth knowing this before you do anything, just in case. .

It just goes into the estate. You can’t discriminate based upon age. That credit life insurance is just for shorter term consumer loans. I did a car loan for a little old lady one time. A week later her car is shown in the local newspaper half inside a retail shop. She got in the car and put it in drive instead of reverse, then hit the gas. I only want to get so old.

You can tell the rental company what days/weeks you want to block out. You get first dibs, unless you buy a place subject to leases already in place. Then? You just get to keep the rental income. That’s okay too! (Deposits can be negotiated.)

Not really sure what you mean by the question, but every situation is different. How far in advance? How long can you stay? TOO long is never an issue if you can get a rental permit in the first place. Certain developments have restrictions, and rental companies (on-site or external) have their own expectations. People going to Hilton Head book their summer trips early in the year. Some have repeat customers every year.

We used to live in Hilton Head and go back probably 2 out of 3 years. We usually stay around Harbour Town in Sea Pines. It makes me look on the Sea Pines Real Estate website at the calendars for rentals. This time of year they are already booked well into the fall. Like, it’s hard to find anything in most areas and especially the area we want. The way they rent always amazes me, and we’ve been tempted at times. EDIT: Meant to start with GOOD TENANTS ARE GOLDEN! .

Technically, that might include you as I see it! We are as good as in-house as you get! It’s not like Beane to go into a draft NEEDING something. This feels odd, because I don’t know who on the roster can fill that position. I don’t know what to expect.

Sure, it sounds like a bad idea, but they make up for it with volume. I remember a guy years ago asking “you know, I’m 85 years old, and you just gave me a 30 year mortgage. Does that seem like a good idea to you?” 😂

FWIW - https://atlantaagentmagazine.com/2023/01/16/atlanta-ranks-no-9-on-zillows-hottest-markets-for-2023/?utm_campaign=eem-newsletter-february-2023-(quick-send)&utm_content=extraordinary-living-e-newsletter_body-feb2023%2ejpg&utm_medium=email&utm_source=activepipe

Just curious, is your screen name meant to be ironical?

I don’t see ATL as a great short term rental market. I mean, why? Few people come here to vacation for a week. People are mostly here for jobs, and we have more apartments than anywhere I’ve ever lived. But I see it as solid for a long term rental market because people are here out of necessity. Our highs are not as high, but our lows are not as low for real estate in general it seems. Investment properties and 2nd/3rd homes seem to have a more volatile market with bigger swings. The beaches and the mountains are where people go for a long weekend or a couple weeks at the right time of year. We’ve spent part of our summer in Blowing Rock, NC for the last few years. It’s easy for us to get a rental that will take the dogs to get away from the summer heat. The elevation there is much higher that North GA mountains (like double at about 4k feet) so it’s much cooler in the summer. PLUS, Blowing Rock and Boone (home of Appalachian State) have strong winter rentals for the skiing crowd. Great for the fall foliage crowd too. Blowing Rock is a charming little town, and Boone has a nice college town vibe only about 15 minutes away. I think it’s about 5 hours from where I live. Do your homework, and consider all the options. FWIW, I’d consider staying with the long term rental until rate hikes filter down to the market, especially the “resort markets”. There is a project where we rented our last year in Sarasota. We had sold our house but decided to let our son finish high school before moving. I still follow this project and others as I’d like to get a place there at some point. NOW is not that point IMO, but we may be getting closer. Many hundreds of houses in there, and 6-12 months ago there were only 1-2 listings at any given moment, and they got snapped up ASAP. I just looked, and they now have 11 listings, most of which have been reduced in price already. Do your homework now, but let the market work for you. Buy low, sell high. Don’t be in a rush “just because”. A ton of factors to consider, like when is best to sell in ATL (which is rated as one of the strongest markets over the next year, I’ll look for the article). These are just a bunch of thoughts, not really advice. Too many unknowns.

I doubt it lasts for the entire season. Let’s put people in place and see who emerges to call the defensive plays. Maybe Al Holcomb gets the nod after settling in??? 🤷‍♂️

Did he mention that the human body was not meant to play the game of football?

Terry was told he couldn’t make money buying at $1.4B, but it looks like he’s a couple BILLION ahead already. Not too shabby.

This is a LOT of very good information. First and foremost, CYA. In addition to the insurance topics you noted, I’d at least look into a good umbrella policy. It seems insurance has a funny way of covering “everything but that”. When looking at how much equity you have, people often underestimate transaction costs. Just because you see prices in the neighborhood rising doesn’t mean you can pay a 6% commission plus closing costs and come out ahead. Be realistic about the expenses of each transaction, both buying and selling. On a $300k sale the commission alone could be $18k. That’s a good chunk of change. My background is in banking/real estate appraising and long term rentals for Sotheby’s. Bankers (and FNMA) don’t like financing in projects full of rentals, so many projects have limitations on what percentage of units can be rented to keep conventional financing available to buyers. We had a property here on the belt line that our son lived in. When he moved out we were on a waiting list to be able to rent. We would have preferred to keep it and rent it forever, but the wait list might have been a year or two long (you never know!) so we just sold it. All rentals are not created equal. We used to do a lot of work on Siesta Key, FL (outside of Sarasota). A giant sand bar mostly full of rental condos and some second homes. Each project has their own covenants and that affects value. Two units may look nearly identical, but if one is a 2-3 night rental minimum it’s going to attract more investment types of buyers than a place with a one month minimum or two times a year. Compare apples to apples. Turning over frequently seriously adds to the wear and tear and level of management involved. Short term rentals at the beach do not get nearly the respect a long term tenant will show for their full-time rental home. Do not be surprised by the abuse some people will inflict on your investment. You want it to be nice enough to attract people and keep them happy, but not so nice that you freak out at the thought of water marks on an end table or a stain on the carpet. Look at the numbers!!! Obviously the monthly HOA is a major consideration, but look at the reserves as well. There is a wide spectrum of opinions on how to manage the budget. Some places like to keep the HOA low so it’s affordable, which sounds attractive initially. But it can bite you on the arse if you buy in a low HOA complex, only to find out there is a $20k special assessment a few months after you bought for new roofs because the low HOA wasn’t sufficient to add reserves to cover for replacements. A place with a slightly higher HOA might be a better option than getting hit with special assessments. Those are my initial thoughts, but I love this stuff (including the hunt for the property) so I’m sure I’ll chime in later with more thoughts.

If only Peyton had done the same…..

A used #2 tea bag? I think this will need confirmation. Can you produce a tea bag?

IDK? Pie? Diabetes??? Big houses with pools overlooking the ocean? More pie? .

The nerds got the pie. 😋

I’m not your guy. I just checked in to see if “Comp” was for “computer”. 😋 I think you’ll find we have a bunch of knowledgeable folks here, but I’m coming up blank on who to call out at the moment. Good luck!

I agree, his left hand held the right hip down. It was real. And I’m a Big East guy. This was interesting to me. Gene Steretore (sp?) just explained that the black line is still good if you are out of bounds, because it it the edge of OB, but still OB, where the passer was supposed to be. Charles doesn’t like the foul call. This was a doozy!!!