what's the smartest decision you've ever made
I think I'm with BadMix...I moved 1500 miles away from home when I was 18. Probably why most all my decisions have been crap (lack of first hand parental guidance). Mostly when it comes to buying and selling of cars and bikes. Sold ones I should of kept and bought ones I shouldnt have. Probably why I dont have a S2k right now. It sucks now but I have learned alot which will only benefit me from now on. I Try to look on the good side of things. My goal now is to get out of debt and then I can work towards an S2k.
Originally Posted by Scot,Apr 18 2006, 09:46 AM
There isn't nearly as much appreciation of property values right now, but there are still ways to find properties with positive cashflow..... especially depending on where you live.
I am buying a 1975 3 bedroom townhouse for $45k. it is fairly modern since it was build in the 70's.... I will rent it for $725.
Rental income $8700
Less:
vacancy (5%) - 435
Utilities - 840 (70/mo)
prop taxes- 1400
Insurance - $300
Repairs ~ $1000
Total expenses $3,975
Net income $4,425
Cap Rate 9.8%
not bad...if it goes up in value then I make out even better...
I am buying a 1975 3 bedroom townhouse for $45k. it is fairly modern since it was build in the 70's.... I will rent it for $725.
Rental income $8700
Less:
vacancy (5%) - 435
Utilities - 840 (70/mo)
prop taxes- 1400
Insurance - $300
Repairs ~ $1000
Total expenses $3,975
Net income $4,425
Cap Rate 9.8%
not bad...if it goes up in value then I make out even better...
but i do like how you are adding value to property through restoration and rehab. over in so cal, we just buy something brand new, NEVER live in it, hope to sell it 3 months later for 30% appreciation. thats called BS, and a ponzi scheme. its just passing that hot potato to someone else. its sad and pathetic that just because you know someone who made $$$ in real estate, you automatically you can do the same and call yourself an "investor", call these people what they are now. ####ED BORROWERS!
sorry for the rant, it just seems that HOUSING is all the rage these days, seems like nothing in the US is focused on education, perseverance, innovation and determination. How in the world can the America economy survive by BORROWING and FLIPPING houses???
Chatting to the blonde with big boobs one night out on the cans. Took her out on a date a week later and had a bit of fun
The best part was that she was pretty well off and wanted to get rid of a studio apartment she had in the city asap to avoid a bridging loan so I saved at least $20k on the purchase and it's positively geared which is unheard of here atm.
In about 6months I should be returning from O/S with my g/f and that trip is either going to be my best decision or not such a good one. I figure if I can travel with her for 2months solid through foreign countries where english isn't the native language and not kill each other then I'm right in thinking she's the one for me. If not I've still had a great time and I'm back on the market so although I don't necessarily agree some would say its win-win
The best part was that she was pretty well off and wanted to get rid of a studio apartment she had in the city asap to avoid a bridging loan so I saved at least $20k on the purchase and it's positively geared which is unheard of here atm.In about 6months I should be returning from O/S with my g/f and that trip is either going to be my best decision or not such a good one. I figure if I can travel with her for 2months solid through foreign countries where english isn't the native language and not kill each other then I'm right in thinking she's the one for me. If not I've still had a great time and I'm back on the market so although I don't necessarily agree some would say its win-win
1. Got engaged to G/F of 4 years.
2. I decided not to buy another S2000 after my 05 Rio was totaled.
3. I sold my flourishing business to go back to school.
4. I sold my 05 Titan to buy a car cash. I ended up with a 00 Celica GT.
Now, going back to school with no carpayments feels good. I got 1 more year left guys!!!!
2. I decided not to buy another S2000 after my 05 Rio was totaled.
3. I sold my flourishing business to go back to school.
4. I sold my 05 Titan to buy a car cash. I ended up with a 00 Celica GT.
Now, going back to school with no carpayments feels good. I got 1 more year left guys!!!!
Originally Posted by vader1,Apr 20 2006, 09:36 AM
You notice that nobody ever says "Saving all my money for months to buy some sweet rims, farty pipe and a giant wing?"







