yall Posted July 6, 2006 Share Posted July 6, 2006 100k and that was rental properties.....plural right? First question is where do you live and the second question is how negative do you want your cash flow. 719412[/snapback] Apparently the wine cellar isn't in Buffalo. I have a comfortable home with a nice yard that was a rental before I purchased it. I paid 37,500.00. I'm going to have it paid off soon, and thought I might buy a few more properties in the same neighborhood. As I recall, if I have less than 4 rental properties I don't have to worry about escrow accounts and a few other things. Link to comment Share on other sites More sharing options...
JimBob2232 Posted July 6, 2006 Share Posted July 6, 2006 I was considering rental properties. I have a few friends that do pretty well with just a couple of places. The downside is the maintenance both in effort and in dollars. I'm a decent enough handyman, but not sure if I want to spend too much time on that sort of thing. Thanks for the response. 719392[/snapback] Simple rule of investing by Uncle JimBob. As soon as you start hearing friends, coworkers, relatives, random guy in the resturaunt or on the street start talking about how easy it is to make money in a particular investment vehicle, its time to take your money and run. Conversely, As soon as you hear those same people start talking about how bad an investment is, time to start buying. Case in Point. Stock Market circa 2000. EVERYONE was making money. Couldnt miss, especially on the NASDAQ. SUNW, JDSU, CMGI, CIEN, LNUX and others. Think about the year when you first heard your coworkers, friends or family talking about them. 1999? 2000? 2001? Then look at the chart and see how their "cant miss" investment would have fared. Case #2. Federal Employees can relate to this one. The I fund in the Thrift Savings Plan (a.k.a. 401K), which basically tracks the MSCI EAFE Index, was up near 30 percent on the year. Everyone was jumping in..AFTER IT WAS UP 30%... People started talking about it in the office, you would see people log into their accounts at work and make transfers to the I fund. Then in just a couple short months, it fell over 15 percent. SHOCKER. Case #3. Who cared about commodities 5 years ago? NOBODY. Commodity prices were at an all time low. Now, everyone is starting to "invest" in Gold, Copper, Pork Bellies and anything else they can get in a 50 gallon drum. Why would anyone want to invest in something crazy like commodities, while real estate was going through the roof....Now Commodities are going through the roof. Now people are noticing. But its too late. Today real estate is "Cant Miss" which scares me alot. There are some compelling reasons why real estate wont fall drastically like the stock market, mainly because there is some resistance to sell a home for a loss. But more and more properties are investment properties. Rising interest payments, and Mortgage Payments. Increasing Defaults. Fewer Buyers. Its a recipie for disaster if you're not careful. But I know, I know, Real Estate Never Goes Down.... ....Neither did JDS Uniphase. Link to comment Share on other sites More sharing options...
Chef Jim Posted July 6, 2006 Share Posted July 6, 2006 Apparently the wine cellar isn't in Buffalo. I have a comfortable home with a nice yard that was a rental before I purchased it. I paid 37,500.00. I'm going to have it paid off soon, and thought I might buy a few more properties in the same neighborhood. As I recall, if I have less than 4 rental properties I don't have to worry about escrow accounts and a few other things. 719422[/snapback] You paid $37.5k when? I'm just not sure how much property you can get for $100k......even in beautiful WNY. Link to comment Share on other sites More sharing options...
Alaska Darin Posted July 7, 2006 Share Posted July 7, 2006 As far as investing goes, it's impossible to make recommendations to someone without knowing what their goals for the money are. There are multiple permutations to consider. Link to comment Share on other sites More sharing options...
erynthered Posted July 7, 2006 Share Posted July 7, 2006 "permutations" Sounds like a "Fit" Excrement. Link to comment Share on other sites More sharing options...
Crap Throwing Monkey Posted July 7, 2006 Share Posted July 7, 2006 As far as investing goes, it's impossible to make recommendations to someone without knowing what their goals for the money are. There are multiple permutations to consider. 719487[/snapback] Really? You mean...it's complex? Finknottle. you misled me! Link to comment Share on other sites More sharing options...
yall Posted July 7, 2006 Share Posted July 7, 2006 You paid $37.5k when? I'm just not sure how much property you can get for $100k......even in beautiful WNY. 719433[/snapback] In 2003. Believe it or not there is plenty of cheap property here in WNY. So, I'm guessing two properties. Plural. Like I said though, I'm not sure I want to deal with the hassles associated with being a landlord. Link to comment Share on other sites More sharing options...
GG Posted July 7, 2006 Share Posted July 7, 2006 You paid $37.5k when? I'm just not sure how much property you can get for $100k......even in beautiful WNY. 719433[/snapback] You can still find lots of houses in downtown Buffalo for under $20K (Some even with the glass windows intact). Link to comment Share on other sites More sharing options...
Chef Jim Posted July 7, 2006 Share Posted July 7, 2006 As far as investing goes, it's impossible to make recommendations to someone without knowing what their goals for the money are. There are multiple permutations to consider. 719487[/snapback] And licenses. Link to comment Share on other sites More sharing options...
Chef Jim Posted July 7, 2006 Share Posted July 7, 2006 In 2003. Believe it or not there is plenty of cheap property here in WNY. So, I'm guessing two properties. Plural. Like I said though, I'm not sure I want to deal with the hassles associated with being a landlord. 719566[/snapback] That's true. My mom's house was worth about $100k maybe five years ago. She could probably get $125. Now that's on great ROI. Link to comment Share on other sites More sharing options...
Crap Throwing Monkey Posted July 7, 2006 Share Posted July 7, 2006 That's true. My mom's house was worth about $100k maybe five years ago. She could probably get $125. Now that's on great ROI. 719783[/snapback] Who cares. The stock market's going down today. We're in another bear market... Link to comment Share on other sites More sharing options...
Chef Jim Posted July 7, 2006 Share Posted July 7, 2006 Who cares. The stock market's going down today. We're in another bear market... 719790[/snapback] Sell Mortimer, sell!! Or was that buy? Oh this market timing is soooo confusing. Link to comment Share on other sites More sharing options...
Crap Throwing Monkey Posted July 7, 2006 Share Posted July 7, 2006 Sell Mortimer, sell!! Or was that buy? Oh this market timing is soooo confusing. 719807[/snapback] Sell, hell. I'm rebalancing... Link to comment Share on other sites More sharing options...
yall Posted July 7, 2006 Share Posted July 7, 2006 That's true. My mom's house was worth about $100k maybe five years ago. She could probably get $125. Now that's on great ROI. 719783[/snapback] Actually, that's not too far off what you would get by putting 100k in a five year CD, with virtually no risk. As a landlord, you make money on the property (hopefully) when it comes time to sell, but also through rent. The problem is, after property taxes, maint, and other misc costs, are you really that much ahead of the game? When you factor in the time and effort, I'm guessing no. Mostly because the market around here won't support rents much above the 700 range. I could be way off, but that's why I'm doing the research and asking questions. I've considered doing some flipping, but again, the reason so many of these places are cheap is not necesarily the structure, but the market. Fortunately, I don't have the loot in my hot little hand yet, so I have time to do as much research as possible to find the right combination of ROI, risk, and effort/time. Link to comment Share on other sites More sharing options...
Chef Jim Posted July 7, 2006 Share Posted July 7, 2006 Actually, that's not too far off what you would get by putting 100k in a five year CD, with virtually no risk. As a landlord, you make money on the property (hopefully) when it comes time to sell, but also through rent. The problem is, after property taxes, maint, and other misc costs, are you really that much ahead of the game? When you factor in the time and effort, I'm guessing no. Mostly because the market around here won't support rents much above the 700 range. I could be way off, but that's why I'm doing the research and asking questions. I've considered doing some flipping, but again, the reason so many of these places are cheap is not necesarily the structure, but the market. Fortunately, I don't have the loot in my hot little hand yet, so I have time to do as much research as possible to find the right combination of ROI, risk, and effort/time. 719827[/snapback] I love when people B word about fees in mutual funds and then go out and invest in real estate. Yeah, RE is a cheap investment. Don't get me wrong, it can be a great investment, just don't B word about fees in one investment and ignore the costs associated with another. FWIW, be careful of flipping in this market. My reco, diversify, stocks, bonds, real estate and cash. But the caveat is, what is the money for? Link to comment Share on other sites More sharing options...
Pine Barrens Mafia Posted July 10, 2006 Share Posted July 10, 2006 I see no one answered my question about USX. Link to comment Share on other sites More sharing options...
Crap Throwing Monkey Posted July 10, 2006 Share Posted July 10, 2006 I see no one answered my question about USX. 720565[/snapback] Sorry. The answer is no. Link to comment Share on other sites More sharing options...
Pine Barrens Mafia Posted July 10, 2006 Share Posted July 10, 2006 Sorry. The answer is no. 720590[/snapback] Where are they actually still manufacturing? Sparrows Point? Gary, Indiana? Link to comment Share on other sites More sharing options...
Crap Throwing Monkey Posted July 10, 2006 Share Posted July 10, 2006 Where are they actually still manufacturing? Sparrows Point? Gary, Indiana? 720601[/snapback] Read the annual report yourself, Joe. Link to comment Share on other sites More sharing options...
Pine Barrens Mafia Posted July 10, 2006 Share Posted July 10, 2006 Read the annual report yourself, Joe. 720608[/snapback] Bite me. No way I'm investing in an American steel company. Link to comment Share on other sites More sharing options...
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