Magox Posted April 30, 2010 Author Share Posted April 30, 2010 So now taxes set the market value? Don't stop him, he's on a roll. Link to comment Share on other sites More sharing options...
DC Tom Posted April 30, 2010 Share Posted April 30, 2010 Don't stop him, he's on a roll. Apparently everything but the market sets market value. Link to comment Share on other sites More sharing options...
Celtic_soulja Posted April 30, 2010 Share Posted April 30, 2010 Don't stop him, he's on a roll. wow...again...it would be prudent to read what I am saying... what you are taxed on is what?...say it with me...what the property is appraised at by the city....so paying what the city says your property is worth after the property is fixed up...is the price I am using to sell the property...I am not taking advantage of anyone... Only a bunch of wannabe genius posters like yourselves would say that taking money from the city, rebuilding the city, and getting our working class citizens into those homes is an evil plot...heheheheehh ridiculous...originally I thought Magox and co. were intelligent...and while I guess I can't attack the intelligence of the posters...I can say that some of you need to go out into the world and actually see how things are and maybe MAYBE you'll understand such a simple and common sense plan that I have outlined vaguely... Who was it here that said I was stupid for posting a plan on a message board?....well I should have heeded that warning...these posts are obviously coming from people with no real life common sense or experience in working class neighborhoods...and I thought this was Buffalo?...blue collar?...wow...hehehehe...anywho...yeah good call on being a bad idea...but not the reasons you thought... Link to comment Share on other sites More sharing options...
DC Tom Posted April 30, 2010 Share Posted April 30, 2010 wow...again...it would be prudent to read what I am saying... what you are taxed on is what?...say it with me...what the property is appraised at by the city....so paying what the city says your property is worth after the property is fixed up...is the price I am using to sell the property...I am not taking advantage of anyone... Only a bunch of wannabe genius posters like yourselves would say that taking money from the city, rebuilding the city, and getting our working class citizens into those homes is an evil plot...heheheheehh ridiculous...originally I thought Magox and co. were intelligent...and while I guess I can't attack the intelligence of the posters...I can say that some of you need to go out into the world and actually see how things are and maybe MAYBE you'll understand such a simple and common sense plan that I have outlined vaguely... Who was it here that said I was stupid for posting a plan on a message board?....well I should have heeded that warning...these posts are obviously coming from people with no real life common sense or experience in working class neighborhoods...and I thought this was Buffalo?...blue collar?...wow...hehehehe...anywho...yeah good call on being a bad idea...but not the reasons you thought... The tax appraisal has nothing to do with the market value has nothing to do with the actual value of the house, you dolt. I'll say it again: you really have absolutely no understanding of the industry. Link to comment Share on other sites More sharing options...
Magox Posted April 30, 2010 Author Share Posted April 30, 2010 wow...again...it would be prudent to read what I am saying... what you are taxed on is what?...say it with me...what the property is appraised at by the city....so paying what the city says your property is worth after the property is fixed up...is the price I am using to sell the property...I am not taking advantage of anyone... Only a bunch of wannabe genius posters like yourselves would say that taking money from the city, rebuilding the city, and getting our working class citizens into those homes is an evil plot...heheheheehh ridiculous...originally I thought Magox and co. were intelligent...and while I guess I can't attack the intelligence of the posters...I can say that some of you need to go out into the world and actually see how things are and maybe MAYBE you'll understand such a simple and common sense plan that I have outlined vaguely... Who was it here that said I was stupid for posting a plan on a message board?....well I should have heeded that warning...these posts are obviously coming from people with no real life common sense or experience in working class neighborhoods...and I thought this was Buffalo?...blue collar?...wow...hehehehe...anywho...yeah good call on being a bad idea...but not the reasons you thought... Link to comment Share on other sites More sharing options...
Celtic_soulja Posted April 30, 2010 Share Posted April 30, 2010 The tax appraisal has nothing to do with the market value has nothing to do with the actual value of the house, you dolt. I'll say it again: you really have absolutely no understanding of the industry. Because I am not trying to speculate...and I have people that will buy the house for that price...THUS IT IS DICTATED BY THE MARKET... What is "the Market"...you truly need to explain it...because I was under the FALSE assumption that "the Market" is what you CAN sell something for...dictated by...............THE MARKET...if I can sell something for four bucks...the MARKET VALUE IS FOUR BUCKS...allllllll YOU'RE talking about is speculative pricing based on comps...that is the banks or investors BEST attempt to GUESS what the market value is...yeah and IIIIIIIII don't understand....so please, I might not understand speculative pricing as well as I could...but that's something I am purposely NOT studying becuase I have guys that will preach to me about that on board already...and INTELLIGENTLY they aren't the shot callers... Link to comment Share on other sites More sharing options...
DC Tom Posted April 30, 2010 Share Posted April 30, 2010 Because I am not trying to speculate...and I have people that will buy the house for that price...THUS IT IS DICTATED BY THE MARKET... What is "the Market"...you truly need to explain it...because I was under the FALSE assumption that "the Market" is what you CAN sell something for...dictated by...............THE MARKET...if I can sell something for four bucks...the MARKET VALUE IS FOUR BUCKS...allllllll YOU'RE talking about is speculative pricing based on comps...that is the banks or investors BEST attempt to GUESS what the market value is...yeah and IIIIIIIII don't understand....so please, I might not understand speculative pricing as well as I could...but that's something I am purposely NOT studying becuase I have guys that will preach to me about that on board already...and INTELLIGENTLY they aren't the shot callers... So you're basing your price on "the market" as defined as "whatever you can sell it for", despite just having posted "what you are taxed on is what?...say it with me...what the property is appraised at by the city....so paying what the city says your property is worth after the property is fixed up...is the price I am using to sell the property". And are dismissing comps as speculative? Wow. Link to comment Share on other sites More sharing options...
Celtic_soulja Posted April 30, 2010 Share Posted April 30, 2010 So you're basing your price on "the market" as defined as "whatever you can sell it for", despite just having posted "what you are taxed on is what?...say it with me...what the property is appraised at by the city....so paying what the city says your property is worth after the property is fixed up...is the price I am using to sell the property". And are dismissing comps as speculative? Wow. That is EXACTLY what I'm doing...do you question my ability to sell these properties?...then you can't question the valuation I am giving them Link to comment Share on other sites More sharing options...
Chef Jim Posted April 30, 2010 Share Posted April 30, 2010 wow...again...it would be prudent to read what I am saying... what you are taxed on is what?...say it with me...what the property is appraised at by the city....so paying what the city says your property is worth after the property is fixed up...is the price I am using to sell the property...I am not taking advantage of anyone... Only a bunch of wannabe genius posters like yourselves would say that taking money from the city, rebuilding the city, and getting our working class citizens into those homes is an evil plot...heheheheehh ridiculous...originally I thought Magox and co. were intelligent...and while I guess I can't attack the intelligence of the posters...I can say that some of you need to go out into the world and actually see how things are and maybe MAYBE you'll understand such a simple and common sense plan that I have outlined vaguely... Who was it here that said I was stupid for posting a plan on a message board?....well I should have heeded that warning...these posts are obviously coming from people with no real life common sense or experience in working class neighborhoods...and I thought this was Buffalo?...blue collar?...wow...hehehehe...anywho...yeah good call on being a bad idea...but not the reasons you thought... Then why are people paying taxes on a basis of $1,000,000 when their homes are worth $750,000? Link to comment Share on other sites More sharing options...
DC Tom Posted April 30, 2010 Share Posted April 30, 2010 That is EXACTLY what I'm doing...do you question my ability to sell these properties?...then you can't question the valuation I am giving them The hell I can't question your valuation: you're setting your valuation based on "Whatever I think someone will pay for them, which I will justify with tax assessments." Besides demonstrating absolutely no understanding of how real estate markets work, that's a pathetic, half-assed basis for planning a business venture. You're only setting the market in that you're paying $32k for a property - you're not buying under the market, you ARE the market. Link to comment Share on other sites More sharing options...
Celtic_soulja Posted April 30, 2010 Share Posted April 30, 2010 The hell I can't question your valuation: you're setting your valuation based on "Whatever I think someone will pay for them, which I will justify with tax assessments." Besides demonstrating absolutely no understanding of how real estate markets work, that's a pathetic, half-assed basis for planning a business venture. You're only setting the market in that you're paying $32k for a property - you're not buying under the market, you ARE the market. I like that...call me the market again Link to comment Share on other sites More sharing options...
Taro T Posted April 30, 2010 Share Posted April 30, 2010 I like that...call me the market again If you are the only one buying these houses, then you ARE the market. And, as several have stated here repeatedly, those houses you buy will be compared to other recently purchased homes of comparable size (oddly enough the OTHER homes you have bought also at $30k) to determine the baseline market value. Link to comment Share on other sites More sharing options...
Celtic_soulja Posted April 30, 2010 Share Posted April 30, 2010 If you are the only one buying these houses, then you ARE the market. And, as several have stated here repeatedly, those houses you buy will be compared to other recently purchased homes of comparable size (oddly enough the OTHER homes you have bought also at $30k) to determine the baseline market value. yes YES exactly...EXACTLY...when I'm scooping them all up...market is what I am paying...when I turn around and start selling them...for whatever price I say...THAT becomes the market value...THAT IS WHAT I'VE BEEN TRYING TO SAY OVER AND OVER AGAIN... Yes, YES I AM THE MARKET Link to comment Share on other sites More sharing options...
Taro T Posted April 30, 2010 Share Posted April 30, 2010 yes YES exactly...EXACTLY...when I'm scooping them all up...market is what I am paying...when I turn around and start selling them...for whatever price I say...THAT becomes the market value...THAT IS WHAT I'VE BEEN TRYING TO SAY OVER AND OVER AGAIN... Yes, YES I AM THE MARKET Realizing that you are doing a "rent to own" (or whatever term you prefer) for these houses, the market value of the homes doesn't simply become what you state the price is. The market value is whatever price you can negotiate with a buyer. When a realtor shows them that houses are currently worth about $30k, they aren't going to be real happy w/ you asking for ~2 times that (not sure what you're charging in today's $'s (not interested enough to calculate it out), but if all you're getting is $120k over 20 yrs, then you aren't getting $120 for the house; you're probably getting less than $60k when you figure the defaults into your ror). And most likely they'd be offering you something that is closer to $30k. I hope you pull your idea off, but based on what you've put forth so far, I don't put much faith in it. Link to comment Share on other sites More sharing options...
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