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Old 07-10-2011, 04:40 PM
 
1,983 posts, read 7,519,370 times
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Just got back from Vegas. Bought new construction at $72/square foot. Rentable at around 40% ROI. Probably rent for a while, will retire there in about 8 years or so.
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Old 07-10-2011, 05:04 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,212,370 times
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Quote:
Originally Posted by MoorestownResident View Post
Just got back from Vegas. Bought new construction at $72/square foot. Rentable at around 40% ROI. Probably rent for a while, will retire there in about 8 years or so.
Congratulations..

You really think they would sell you a property that they can rent at a 40% ROI?

Comeon...you really think developers are that dumb?
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Old 07-10-2011, 05:14 PM
 
1,983 posts, read 7,519,370 times
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The Beazer rep told me they are selling it to me at a loss. Builder cost is usually 70-80 sq feet so that could be true. They aren't in the landlord business. Plus it's against HOA regs and most likely municipal bylaws.
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Old 07-10-2011, 05:21 PM
 
1,374 posts, read 2,436,283 times
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lol. 40% ROI.
lol.
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Old 07-10-2011, 07:43 PM
 
Location: Beautiful Upstate NY!
13,814 posts, read 28,504,856 times
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And everyone knows that sales reps tell the customer what they want to hear. It's all about the sale. How many times did he/she answer your question with "Ab-so-loot-lee"?
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Old 07-10-2011, 08:59 PM
 
322 posts, read 565,479 times
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Quote:
Originally Posted by MoorestownResident View Post
Just got back from Vegas. Bought new construction at $72/square foot. Rentable at around 4.0% ROI. Probably rent for a while, will retire there in about 8 years or so.
I fixed your post for you. Those pesky decimals give me trouble too.
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Old 07-10-2011, 09:18 PM
 
2,180 posts, read 4,538,404 times
Reputation: 1087
congrates... welcome to the hood. mid 70$ is about what I paid also.
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Old 07-10-2011, 09:47 PM
 
Location: Here and there, you decide.
12,908 posts, read 28,001,815 times
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you bought a NEW BUILD to rent????? $72 a sf is high!
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Old 07-10-2011, 09:50 PM
 
2,724 posts, read 4,765,085 times
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I am confused.

Post #1: "Rentable at around 40% ROI"
Post #3: "Plus it's against HOA regs and most likely municipal bylaws"
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Old 07-10-2011, 09:52 PM
 
Location: Here and there, you decide.
12,908 posts, read 28,001,815 times
Reputation: 5057
Quote:
Originally Posted by eventusstultorummagister View Post
I am confused.

Post #1: "Rentable at around 40% ROI"
Post #3: "Plus it's against HOA regs and most likely municipal bylaws"
i saw the 40% and lol'd... missed post 3
so the op bought a property to rent when the builder told him that its against hoa to rent out (rent restricted?)

incidentally, i have the brooklyn bridge for sale if the op is interested.
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