spend of all it on whatever you want to do with a 1% and above cashback CC = Profit + fun
What to do with $35K?
- Thread starter Romestar
- Start date
spend of all it on whatever you want to do with a 1% and above cashback CC = Profit + fun
Let me rephrase that. 17.5 hours each on Amy Reid & Ashlyn Brook, mmm. :rasta:
But Audrey isn't that bad too ey?
Yes. I say Alabama because some of those states like Alabama have great landlord laws. Tenant does not pay and you can have them out in a few weeks whereas CA you can fight a tenant for months.
Some of the Michigan properties etc are cheap but they have very high prop taxes - watch out for that. And very bad laws for landlords.
You can do it in CA too. Stockton CA saw a property for $40K that was in move in condition - rent for the area $800 - so after property manager and taxes and insurance you would still clear close to $595 and that is CA.
Even better I just saw a performing loan for sale that you can get for $30K that is paying $659 per month and they owe you $100K. Property value is around $40K so I would not buy it because too much risk if they stop paying - but still - those are great numbers. 342 pymts left at 7% - 19 months on time pymts.
There are some great deals out there for those of you with cash that want to diversify your holdings so you are not so depending on G for everything.
The numbers are better in some southern states.
In Alabama?
Fuck, so the house will pay for itself in 31 months?
That is better than any investment vehicle around...
You need to consider property taxes, property management, insurance, maintenance, (all tax write offs) and vacancy - but still. It is a great return, and very secure.
Consider the security of the investment relative to the return - that is even more amazing.
I've been cleaning up with hard money loans for the last few years. Minimum 10% on my money, sometimes as high as 18%. Loan times from 18 to 36 months. In the last 3 years I've had 3 people default and I ended up with their properties which I sold for good profits. Win/Win.
Damn--that's eye opening. I live in hood ass North Philadelphia for school and I can't imagine how much people are making on real estate: buy a cheap house/lot, fix it up, rent it to students for $5.5k a month. Gentrification has to be a beautiful thing for the people that got in early. There are literally 11 houses being built within just a two-block radius of my house, with more all over.
'
Why not jump in yourself?
When you see economic activity like that - you may be able to participate with less money than you think. You may be wealthy or poor - but like I said you can participate.
Student housing is big big big - Ask the people that built all the student housing in the Ghetto that surround USC. Big money.
I've been thinking about it, as there's still a huge demand for housing. The only thing that's holding me back on any real-estate investing is my desire to travel around the world for 5-10 years (or potentially more). I perceive real-estate as something that would get in the way of that (in that, if there are any major problems, I'd have to be in the physical area to deal with it). Maybe I'm wrong in that, but that's always been my excuse up until now.
Opportunity does not always present itself right in your lap.
There are dozens of property managers in any area that can handle properties for you, and I am certain you have someone that can drive by the property every six months or so to see if it is still standing.
Also, why not build it then just sell it and pocket the cash if you want a quicker return?
It's just one of the properties. Takes effort and luck to find things like that... I doubt it was on the open market.
@BigWill, was it? Or was it some kind of short sale/auction/reo property? Did you have to fix or buy anything for it?
I got mine as short sale, took me forever to find it, 3 month of waiting and a week of going back and forth with the bank...
And then a ton of remodeling to make it decent...
There will never be a top in gold. That's because money printing, devaluations, currency dilution and proliferation of paper assets like stocks and derivatives will never stop. In fact it's going to accelerate. And with that economic risks multiply. There's too much paper relative to things to buy. So gold will never have a real top.
Fed trying desperately to keep americans from realizing their paper promises are totally worthless, and keep them from realizing gold is the age old banker fiat crusher.
I dont disagree with most of that, but bearish bets against gold are placed against the same types of "paper" promises (e.g. stocks of gold producers), so the playing field is leveled, in that regard. Using the same rulebook, I'm still confident Gold will fall (at least in the short-term)....though this giant $1BB mystery bet against the bond market today makes me a tiny bit less confident than I was
I dont disagree with most of that, but bearish bets against gold are placed against the same types of "paper" promises (e.g. stocks of gold producers), so the playing field is leveled, in that regard. Using the same rulebook, I'm still confident Gold will fall (at least in the short-term)....though this giant $1BB mystery bet against the bond market today makes me a tiny bit less confident than I was
Though it will fall in due time. It will come crashing down.
Just invest a little in deep out of the money put leaps on gold/oil - just throw away money that you will not miss, and one day when it crashes you will be rich.