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Old 04-26-2013, 06:33 PM
 
2,132 posts, read 2,202,786 times
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Quote:
Originally Posted by airics View Post
Bingo... I will never understand the renter mentality....And even if a home goes down in Value, its still worth something in the end...
The mentality is they can walk away whenever they want. No rewards, but no risk either.
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Old 04-26-2013, 06:45 PM
 
207 posts, read 424,174 times
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Quote:
Originally Posted by airics View Post
Bingo... I will never understand the renter mentality....And even if a home goes down in Value, its still worth something in the end...
Believe it or not there are a lot of smart, savvy renters who don't let it all spiral down the drain. There are other investments you could sink your money into besides a home.
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Old 04-26-2013, 07:52 PM
 
12,973 posts, read 12,190,448 times
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Quote:
Originally Posted by ddrhazy View Post
The mentality is they can walk away whenever they want. No rewards, but no risk either.
I can show you my scars from managing buyer rental leases. I some times think renters are tied up worse than owners.
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Old 04-26-2013, 08:12 PM
 
Location: Here and there, you decide.
11,599 posts, read 22,740,574 times
Reputation: 3905
Quote:
Originally Posted by ddrhazy View Post
The mentality is they can walk away whenever they want. No rewards, but no risk either.
no rewards but definitely risk.. they screw up my house, don't pay, etc... i go to court and get a judgment against them. their credit is shot for 7 years.... minimum.... in ohio you can renew the judgment every 5 years for 15 years... so technically its on the reports for alot longer...

more risk... rent and find out you are in a foreclosure situation....


and there is more risk in other investments... hmmm invest in facebook example.. lose 30% in how many months....
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Old 04-26-2013, 09:07 PM
 
2,132 posts, read 2,202,786 times
Reputation: 1301
@lvoc - Perhaps you can share some stories with us to illustrate your point. I sure would like to hear you trading fisticuffs. =D

@airics - The risk is not the tenant's it's the landlord's. Tenant destroys a landlord's house. What can a landlord do? Get a judgement in court? Sure. They won't pay, you send it to a collection agency, they don't pay the collection agency and their credit is ruined. Everyone's credit is ruined in Vegas. Even my "good tenants" have lackluster credit. I still check credit scores but if you're unlucky and a tenant causes 10k in damage you are just out of luck.
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Old 04-27-2013, 12:57 AM
 
Location: Here and there, you decide.
11,599 posts, read 22,740,574 times
Reputation: 3905
Quote:
Originally Posted by ddrhazy View Post
@lvoc - Perhaps you can share some stories with us to illustrate your point. I sure would like to hear you trading fisticuffs. =D

@airics - The risk is not the tenant's it's the landlord's. Tenant destroys a landlord's house. What can a landlord do? Get a judgement in court? Sure. They won't pay, you send it to a collection agency, they don't pay the collection agency and their credit is ruined. Everyone's credit is ruined in Vegas. Even my "good tenants" have lackluster credit. I still check credit scores but if you're unlucky and a tenant causes 10k in damage you are just out of luck.
i guess i'm the lucky landlord that has never had the problem... including 2 evictions....
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Old 04-27-2013, 01:02 AM
 
3,574 posts, read 4,027,886 times
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Quote:
Originally Posted by ilovegarlic View Post
Believe it or not there are a lot of smart, savvy renters who don't let it all spiral down the drain. There are other investments you could sink your money into besides a home.
And 30 (or maybe only 15?) years later, you'll still be making the largest payment of your entire monthly budget: housing... with nothing to show for it.

Meanwhile, someone who was smart and bought a home with a low price (below replacement costs in Las Vegas) and historical low interest rates will never make another housing payment again... just taxes, which are minimal.

What's funny is that people like Trader and Vic (now to be referred to as "Trader Vic") want to say that the money printing will kill the dollar and destroy the currency.... if true, then what Las Vegans SHOULD be doing now is locking in a lot of 30-year money at ~3% because when this supposed hyper-inflation hits, it's like FREE MONEY. You pay it back with inflated dollars which lessens the debt burden even more... it's not brain surgery.
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Old 04-27-2013, 01:19 AM
 
Location: Here and there, you decide.
11,599 posts, read 22,740,574 times
Reputation: 3905
Quote:
Originally Posted by logline View Post

What's funny is that people like Trader and Vic (now to be referred to as "Trader Vic")
close....

Eventsatradervic is what i vote for....


Heck, My home is at 2.75% and maximum cap is 8%
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Old 04-27-2013, 01:20 AM
 
207 posts, read 424,174 times
Reputation: 229
Quote:
Originally Posted by logline View Post
And 30 (or maybe only 15?) years later, you'll still be making the largest payment of your entire monthly budget: housing... with nothing to show for it.

Meanwhile, someone who was smart and bought a home with a low price (below replacement costs in Las Vegas) and historical low interest rates will never make another housing payment again... just taxes, which are minimal.

What's funny is that people like Trader and Vic (now to be referred to as "Trader Vic") want to say that the money printing will kill the dollar and destroy the currency.... if true, then what Las Vegans SHOULD be doing now is locking in a lot of 30-year money at ~3% because when this supposed hyper-inflation hits, it's like FREE MONEY. You pay it back with inflated dollars which lessens the debt burden even more... it's not brain surgery.
Not to burst your pie in the sky housing bubble way of thinking but prices have not bottomed out yet. The best is yet to come as they say. AB 300 resulted in an "artificial" shortage of available houses on the market. But watch as that choke hold is finally released.

See here:

Assembly bill would modify requirement said to delay foreclosures | Las Vegas Review-Journal
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Old 04-27-2013, 01:23 AM
 
Location: Here and there, you decide.
11,599 posts, read 22,740,574 times
Reputation: 3905
Quote:
Originally Posted by ilovegarlic View Post
Not to burst your pie in the sky housing bubble way of thinking but prices have not bottomed out yet. The best is yet to come as they say. AB 300 resulted in an "artificial" shortage of available houses on the market. But watch as that choke hold is finally released.

See here:

Assembly bill would modify requirement said to delay foreclosures | Las Vegas Review-Journal
even if that did happen, i don't believe it would crush us.... i believe we are #6 for places people moving to... (read it about a month ago)..
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