Phoenix MLS Predicting Lowest Median September Price in Nine Years (hotel, camps)

[Greatday]

Originally Posted by Howard Roark

But anyone taking advice from hidden people with hidden credentials are in danger of being dam fools.

I've got the credentials. And the fact is, SFR's can be had for under 100K (way under in many cases) - where they will rent in the 800 to 1000 @ mo range. These are facts - not suppositions.

I will agree whole heartedly that one should get individual investment advice to make sure that all the risks associated with ANY investment is well know - and that all a persons options are explored.

But again - I'm not trolling for business - I don't need it. BUT, as the article in this mornings Republic noted - Investors ARE COMING out of the woodwork and agents are getting busy.

[ladysovereign]

Originally Posted by Ponderosa

Hey no need to be attacking another poster. I think there is a reason that they are buying. Sorry you don't like the way I phrased it.

You started it with your sarcastically copying my comment to another poster and attacking me. You could have phrased it differently if you disagreed with what I wrote and not taken the route you did.

[ladysovereign]

Originally Posted by Howard Roark

These days people are getting most of their information from those who have no preven credentials and they are betting their life savings on such advice. The information they should otherwise use is free. It's at the public library.

This reminds me of Rich Dad/Poor Dad. Is that guy still around?

[Greatday]

Originally Posted by ladysovereign

9 to 11% after all expenses paid? Where is this place and are you renting homes or apartments?

Try this: Purchase Price 85,000. Paid Cash. Another $15,000 to prep

Rented for $1,000 (Scottsdale area - not scottsdale cl) Reserves / maintenence (tenant pays all utilities) calculated at 15% (150.00 @ month). Net is $850.00 a month (remember there is no debt service).

Cash on cash RoR is in excess of 9%.

BTW - this is an actual transaction.

[ladysovereign]

Originally Posted by Greatday

Try this: Purchase Price 85,000. Paid Cash. Another $15,000 to prep

Rented for $1,000 (Scottsdale area - not scottsdale cl) Reserves / maintenence (tenant pays all utilities) calculated at 15% (150.00 @ month). Net is $850.00 a month (remember there is no debt service).

Cash on cash RoR is in excess of 9%.

BTW - this is an actual transaction.

Ok, so you've laid out a total of $100,000.00 in cash. Say you get $850./mo. What about taxes? Estimate around $1400.00/yr. Also, don't forget that tenants don't stick around forever, so you might want to increase that prep amount.

I can see where you say that it's worth it, but having dealt with rentals, I think I would rather be looking towards purchasing Gold right now.

[Greatday]

Originally Posted by ladysovereign

Ok, so you've laid out a total of $100,000.00 in cash. Say you get $850./mo. What about taxes? Estimate around $1400.00/yr. Also, don't forget that tenants don't stick around forever, so you might want to increase that prep amount.

I can see where you say that it's worth it, but having dealt with rentals, I think I would rather be looking towards purchasing Gold right now.

I have "dealt" with rentals for OVER 40 years. Yes, a vacancy factor needs to be provided for. The "Prep" amount we dealt with was total paint, floor coverings, appliances and landscape (it was a repo that the previous owner stripped)

Did you happen to read the link that was provided to the AZ republic article?

[ladysovereign]

Originally Posted by Greatday

I have "dealt" with rentals for OVER 40 years. Yes, a vacancy factor needs to be provided for. The "Prep" amount we dealt with was total paint, floor coverings, appliances and landscape (it was a repo that the previous owner stripped)

Did you happen to read the link that was provided to the AZ republic article?

Yes, I did. Is there something in particular I should take note of?

[EnicAZ]

Howard,

"Ugh! This was not in my mother's Personal Finance book class in the 70s. I don't ever recall in that book finding "being a landlord" as a viable way to save for retirement. The best investments, according to her text, were stocks. And it was right before the 1980s boom.

These days people are getting most of their information from those who have no preven credentials and they are betting their life savings on such advice. The information they should otherwise use is free. It's at the public library.

Or you go to a bookstore. You pick up a book on personal finance. You turn to the back and read about the author. You use your BS detector and determine whether the author's advice has been tested and true over several decades and not just booms, such as gold in 1980, tech stocks in 1999 and real estate in 2005.

But anyone taking advice from hidden people with hidden credentials are in danger of being dam fools."

Real good discussion on this. It is essential people understand the conflicts of interest some people have. People need to do their own research, and only take advice from those who are being honest and straightfoward with them.

[Ponderosa]

Originally Posted by ladysovereign

You started it with your sarcastically copying my comment to another poster and attacking me. You could have phrased it differently if you disagreed with what I wrote and not taken the route you did.

I did not even mention you in my post much less "attack" you. I simply said, sarcastically indeed (I like sarcasm), that investors must see something that the housing doom posters on this forum are overlooking/don't understand or they are pretty darn dumb to be plopping down cash like they are on these foreclosure homes. Concluding that that is "attacking" you defies reason. I do apologize for offending you in using your post to help make my point. I did not know you would be so insulted. It was just a segue way. Maybe you are just looking for a fight. Have it with someone else. I am done with it.

[ladysovereign]

Originally Posted by Ponderosa

I did not even mention you in my post much less "attack" you. I simply said, sarcastically indeed (I like sarcasm), that investors must see something that the housing doom posters on this forum are overlooking/don't understand or they are pretty darn dumb to be plopping down cash like they are on these foreclosure homes. Concluding that that is "attacking" you defies reason. I do apologize for offending you in using your post to help make my point. I did not know you would be so insulted. It was just a segue way. Maybe you are just looking for a fight. Have it with someone else. I am done with it.

These message boards at times are hard to decipher sarcasm from instigating. I'm not looking for a fight, and if you aren't either then lets just end this bickering to let the current subject be discussed further (which I find fascinating).