Hang 10... or as they now say...hit the lip!

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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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TATTOO74

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Originally posted by: SurferMic

^^^ 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.
 10/21/2020 11:29 AM
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Cole

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I'm four blocks from the beach and it's about half of what mic is claiming.
 10/21/2020 11:37 AM
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SurferMic

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.

Edited: 10/23/2020 at 05:54 PM by SurferMic
 10/21/2020 11:38 AM
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palerider

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>

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Edited: 10/30/2020 at 05:48 AM by palerider
 10/21/2020 12:38 PM
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SurferMic

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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
 10/21/2020 04:14 PM
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Cole

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Originally posted by: SurferMic

^^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.

 10/29/2020 03:27 PM
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The Political Thinker

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Originally posted by: palerider

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



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I work for Yale.
 10/30/2020 12:24 PM
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worksuxgetsponsered

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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.

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 10/30/2020 02:28 PM
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johnnyboy

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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.

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 11/01/2020 04:49 AM
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The Political Thinker

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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

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scientia potentia est


I work for Yale.
 11/01/2020 04:50 AM
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The Political Thinker

Posts: 2015
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ATT's Dividend is about 7.7%

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scientia potentia est


I work for Yale.
 11/01/2020 05:25 PM
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surferclimber

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Originally posted by: The Political Thinker 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?

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get up early and go surf - it'll make that hangover go away and/or make the workday more tolerable :)

 11/02/2020 07:16 AM
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The Political Thinker

Posts: 2015
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Originally posted by: surferclimber

Originally posted by: The Political Thinker

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


I work for Yale.

Edited: 11/02/2020 at 07:20 AM by The Political Thinker
 11/02/2020 08:00 AM
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TATTOO74

Posts: 2240
Joined Forum: 10/26/2005

Originally posted by: The Political Thinker

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!

FORUMS : NPNR : Investment

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