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Topic Title: Investment Topic Summary: Passive income ideas, opinions? Created On: 09/12/2020 03:58 PM |
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 10/21/2020 09:49 AM
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^^^ 5K in taxes and 5-6K in Hurricane/Flood insurance a year...so your rental property is in the RED about 12K before you collect one dollar in rent. Do your DD, rentals are not as easy as you think and again YOU START THE YEAR ABOUT 12K IN THE RED, how much rent are you getting? Is it enough to pay taxes, ins, maint. property man fees, maybe a vacancy or two, sounds easy "just buy a SFH for a rental" it can work out but you better have $$$$ ready to throw at the problems that arise. Where do you get your info from?? Unless he's buying a dwelling worth close to a million replacement cost on the beach this is WAYYYY off. |
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10/21/2020 11:29 AM
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I'm four blocks from the beach and it's about half of what mic is claiming.
------------------------- I was right. |
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10/21/2020 11:37 AM
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.
Edited: 10/23/2020 at 05:54 PM by SurferMic |
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10/21/2020 11:38 AM
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>
------------------------- Style is what you make it! Edited: 10/30/2020 at 05:48 AM by palerider |
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10/21/2020 12:38 PM
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^^palerider is more accurate for numbers on a SFH < 2000 sq ft.
Edited: 10/23/2020 at 05:55 PM by SurferMic |
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10/21/2020 04:14 PM
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^^palerider is more accurate for numbers on a SFH < 2000 sq ft. I like to hustle, have many jobs/hats going at once...I think the next area of expansion will be the mountains around NC/VA/TN...mainly NC it seems, Covid, endless 'canes, blazing hot summers, people tired of rebuilding, plus WFH (anywhere) option "may" drive a shift to the Blue Ridge & Smokies. Going up for Thanksgiving to look at building a cabin on a mountain lot in between Lake Lure/Ashville...Property is already secured..Build to sell? or keep? not sure yet...has a 15 foot spring fed waterfall in the middle of about 4.5 acres...perfect setup for that copper coil device A Smokey Mountain home with still included? You can't really go wrong, can you. ------------------------- I was right. |
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10/29/2020 03:27 PM
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No homesteaded or portability on Beachside property 1700sq house is 4k in taxes(depends mainly on purchase price) and 3k-4k Insurance(wind/flood). Half that with homestead, wind mit and four point. Handy or not there still price of materials and your time. Buy the cheapest piece of junk in a nicest neighborhood and remodel. For mark our words you can never change your tax base. If your liquid by a rental in town and place some in market, annuities or IRAs. Better have a good capital reserve to plan for any contingency on rentals. are you sure its 4k? because shit Im paying 5k inside the Sanctuary ------------------------- scientia potentia est |
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10/30/2020 12:24 PM
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Canopy growth corp
Unfortunately I went bigger in.... Aurora Cannabis CGC is supposedly in the works on a deals for canabis infused goods. ------------------------- Specializing in sarcasm and condescending rhetoric since 1971. |
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10/30/2020 02:28 PM
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I feel like the cannabis train passed me by last year. The legalization has been slow and patchy. Maybe there's still time to find the future Phillip Morris of weed.
------------------------- "One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky. |
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11/01/2020 04:49 AM
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you just missed out on ATT in the $26 range. Was about to buy another house when the market went full retard on pricing (concrete rectangle houses on beachside are now $450k lol) what a joke. dropped about 250k into ATT which will give me about $20k a year in dividends
------------------------- scientia potentia est |
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11/01/2020 04:50 AM
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ATT's Dividend is about 7.7%
------------------------- scientia potentia est |
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11/01/2020 05:25 PM
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------------------------- get up early and go surf - it'll make that hangover go away and/or make the workday more tolerable :) |
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11/02/2020 07:16 AM
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ATT's Dividend is about 7.7% That's a solid investment. Earlier in the pandemic I put a bunch in a stock ( well ETF ) called USAA high income which has about 8% yeilds and is actually a bunch of solid utility & telecom type companies, and it's done quite well! I was in the same mindset of maybe buying bigger house, or investment property, but I just didn't think the housing market was acting right, seemed overvalued. Since then some of the properties I looked at are still for sale and actually have done many price cuts, and I hear chatter about expecting lots of foreclosures early next year after forebarence ends? theres going to be a lot of foreclosures on beachside everyone is neck deep in loans / mortgages. I know 3 people already who found it "cheaper" to declare bankruptcy than pay off 30k+ credit card debt with 15%+ interest because they didnt want to change their spending habits at the beginning / through, of / a the pandemic. people think we are going to go back to normal and they laugh at me because ive told them we are in a middle of a recession and once we beat this pandemic (my colleagues think its going to be 2022) we will still have to deal with a recession my biggest problem is the realtors that have created the inflated price around here. 100% car salesmen. great disdain for them ------------------------- scientia potentia est Edited: 11/02/2020 at 07:20 AM by The Political Thinker |
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11/02/2020 08:00 AM
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you just missed out on ATT in the $26 range. Was about to buy another house when the market went full retard on pricing (concrete rectangle houses on beachside are now $450k lol) what a joke. dropped about 250k into ATT which will give me about $20k a year in dividends Even worse try losing sleep every night paying $1300 a month RENT for a 800sqf DUPLEX! |
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