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Joined: Nov 2009
Posts: 6,895 Likes: 8
Campfire Tracker
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Campfire Tracker
Joined: Nov 2009
Posts: 6,895 Likes: 8 |
In all my years I have never lost a penny on real estate, when you buy is important but not as important as what and where you buy, just bought another house and land for cash a few weeks ago.i will take dirt over any stock in the market.they ain't printing any more dirt. Rio7
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Joined: Nov 2015
Posts: 15,478 Likes: 29
Campfire Ranger
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Campfire Ranger
Joined: Nov 2015
Posts: 15,478 Likes: 29 |
Just bought 45 acre last summer as a investment had to do it sort of thing
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Joined: Nov 2004
Posts: 10,073 Likes: 9
Campfire Outfitter
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Campfire Outfitter
Joined: Nov 2004
Posts: 10,073 Likes: 9 |
Rents are way up in Idaho. I don't know how people are affording it on our local wages but things just keep going up as out of states keep moving in. The Wasatch front in Utah is pretty much full. They are now predicting that everything from pocatello to St Anthony will fill in like the Wasatch front by 2050.
I bought my acre near rigby in 2017 for $22,000. Now these lots are bringing $105,000-$130,000.
I have a 4 bedroom 2 bath single family home in Rexburg that I rent out. 5 years ago I rented it for $950 and now it rents for $1700 and I'm still under market. Comparable homes are renting for $1900-$2200. I need to raise it again but I need to get the current renters out first. They are already always late and behind on rent as it is.
Bb
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Joined: Jun 2003
Posts: 10,600 Likes: 1
Campfire Outfitter
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Campfire Outfitter
Joined: Jun 2003
Posts: 10,600 Likes: 1 |
Rents are way up in Idaho. I don't know how people are affording it on our local wages but things just keep going up as out of states keep moving in. Well, there's your answer.
"Don't believe everything you see on the Internet" - Abraham Lincoln
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Joined: Aug 2010
Posts: 28,567 Likes: 9
Campfire Ranger
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Campfire Ranger
Joined: Aug 2010
Posts: 28,567 Likes: 9 |
Rents are way up in Idaho. I don't know how people are affording it on our local wages but things just keep going up as out of states keep moving in. The Wasatch front in Utah is pretty much full. They are now predicting that everything from pocatello to St Anthony will fill in like the Wasatch front by 2050.
I bought my acre near rigby in 2017 for $22,000. Now these lots are bringing $105,000-$130,000.
I have a 4 bedroom 2 bath single family home in Rexburg that I rent out. 5 years ago I rented it for $950 and now it rents for $1700 and I'm still under market. Comparable homes are renting for $1900-$2200. I need to raise it again but I need to get the current renters out first. They are already always late and behind on rent as it is.
Bb I have vacationed in Florida numerous times.
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Joined: Jan 2016
Posts: 96,087 Likes: 19
Campfire Oracle
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Campfire Oracle
Joined: Jan 2016
Posts: 96,087 Likes: 19 |
I would wait until a few ounces of silver would buy one.
Just saying
Ecc 10:2 The heart of the wise inclines to the right, but that of a fool to the left.
A Nation which leaves God behind is soon left behind.
"The Lord never asked anyone to be a tax collector, lowyer, or Redskins fan".
I Dindo Nuffin
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Joined: Oct 2021
Posts: 2,432
Campfire Regular
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Campfire Regular
Joined: Oct 2021
Posts: 2,432 |
I would wait until a few ounces of silver would buy one.
Just saying At the rate it's going up it want take long. I priced out 200.00 face value of Mercury dimes a couple weeks ago and it was 4900.. Checked today and it was 6200.!! Spot price over 25.00. Procrastination is a killer. Paralization by analization.
"Aim right, squeeze light" " Might as well hit what you're aiming at, it kicks the same whether you miss or not" NRA Life, GOA
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Joined: Aug 2012
Posts: 231
Campfire Member
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Campfire Member
Joined: Aug 2012
Posts: 231 |
I’ve always been inclined to buy property when I could afford it and it’s always been a good thing. I tried to buy the slumps in the market, watch the price trends online like Zillow for the area and you don’t need to buy the bottom of the valley but wait until it stalls out or starts back up. I have a VERY WEALTHY 2nd uncle who made his fortune in Texas real estate and listed to everything he said on the matter. Given timing was on his side, but he took advantage of it. He gave me some advice that was he always made his money on the buy, the market determines the sale price. He said history has always favored the land owners. And your home is your castle so buy what you want to live on that your income can support, don’t buy what you don’t want to live in because it’s a good deal, live where you want and let your portfolio support it. So far that’s worked out for me. Good luck.
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Joined: Nov 2002
Posts: 33,826 Likes: 16
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,826 Likes: 16 |
I would never buy a second property.
Conduct is the best proof of character.
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Joined: Aug 2009
Posts: 322
Campfire Member
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Campfire Member
Joined: Aug 2009
Posts: 322 |
Do it. Remember though, that money in real estate is made when you buy and not when you sell. Sure beats sitting on cash.
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Joined: Jun 2007
Posts: 24,701 Likes: 47
Campfire Ranger
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Campfire Ranger
Joined: Jun 2007
Posts: 24,701 Likes: 47 |
Lots of advice.
I would ask how old you are first. Then you determine how long the run will be with investment properties.
The younger, the greater the speculation. Rather than putting money into one property, whether cash or finance, you will always get a much larger return by spreading out the investment to several properties with money down on each, rather than totally paying for one. Then let the properties work for you and pay down their individual principals as you rent them out.
Well balanced property management will pay dividends and at the end of the loans, you have multiple properties to continue to profit from or sell and go fishing. It is a simple formula, but your age determines how much and how long you can afford to capitalize with multiple properties and loans that mature in a manageable timeframe…
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Joined: Mar 2013
Posts: 3,610 Likes: 2
Campfire Tracker
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OP
Campfire Tracker
Joined: Mar 2013
Posts: 3,610 Likes: 2 |
Lots of advice.
I would ask how old you are first. Then you determine how long the run will be with investment properties.
The younger, the greater the speculation. Rather than putting money into one property, whether cash or finance, you will always get a much larger return by spreading out the investment to several properties with money down on each, rather than totally paying for one. Then let the properties work for you and pay down their individual principals as you rent them out.
Well balanced property management will pay dividends and at the end of the loans, you have multiple properties to continue to profit from or sell and go fishing. It is a simple formula, but your age determines how much and how long you can afford to capitalize with multiple properties and loans that mature in a manageable timeframe… Thank you, I’m 43.
All of them do something better than the 30-06, but none of them do everything as well.
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Joined: Mar 2010
Posts: 24,392 Likes: 18
Campfire Ranger
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Campfire Ranger
Joined: Mar 2010
Posts: 24,392 Likes: 18 |
So I’m in the market to get another home. Flying into boise tomorrow for a week. F Oregon.
With the current situation, or should I say the unknown situation and the future of US dollar. Do I buy or wait as the prices of homes are slowly dropping. the constant and rapid inflation is also killing me. Not taking a loan. This will be a Cash deal Boise is one of the fastest depreciating markets now in America. Id wait a bit
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Joined: Nov 2004
Posts: 10,073 Likes: 9
Campfire Outfitter
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Campfire Outfitter
Joined: Nov 2004
Posts: 10,073 Likes: 9 |
[/quote]
Boise is one of the fastest depreciating markets now in America. Id wait a bit[/quote]
This is likely true. Home prices throughout most of idaho peaked last May. Rents still seem to be going up though. Home prices were crazy a year ago with most things selling before they could put a sign in the yard. Things have slowed down and prices have come down. But there is still quite a bit of demand coming from out of state.
Now we just have to wonder if prices will keep coming down with the biden economic collapse or will they rise again with the collapse of the dollar? It's a tough time to make a decision of what to invest in. I think many home values have dropped 20% in just the last year and have room to drop another 20 % but the value of the dollar is dropping quickly too.
Bb
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Joined: Nov 2004
Posts: 10,073 Likes: 9
Campfire Outfitter
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Campfire Outfitter
Joined: Nov 2004
Posts: 10,073 Likes: 9 |
I would wait until a few ounces of silver would buy one.
Just saying At the rate it's going up it want take long. I priced out 200.00 face value of Mercury dimes a couple weeks ago and it was 4900.. Checked today and it was 6200.!! Spot price over 25.00. Procrastination is a killer. Paralization by analization. I bought a $100 face bag from apmex on a sale about 1 month ago for $1850. I requested dimes so of course they sent silver quarters. I told my wife I'll either wait and sell them when they go up in a few weeks or hang onto them until I find a place with dimes where I can trade them. I just looked and that same 100 face bag of 90% is now $3025 on Apmex. But, knowing Apmex they'd probably give me $1500 for the bag back. If I could get their price for mine I'd sell them. I much prefer mercury dimes and walking liberty of franklin 50 cent pieces to quarters. Just a personal preference. I was trying to get to a $1000 face bag of Mercury's but it's not going to happen with these crazy premiums. I found some kast week at 23 times face for Mercury's and bought a few thinking that was too expensive. When I jumped online later and saw what junk was doing I drove back to town and bought everything they had at 23. At spot value Mercury's should be about $1.80 each but right now they're over $3. It's weird that spot and premiums are both climbing at the same time. Premiums usually come down as spot rises. It could be getting ready for a big run. Bb
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Joined: Jan 2001
Posts: 59,184 Likes: 3
Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2001
Posts: 59,184 Likes: 3 |
In all my years I have never lost a penny on real estate, when you buy is important but not as important as what and where you buy, just bought another house and land for cash a few weeks ago.i will take dirt over any stock in the market.they ain't printing any more dirt. Rio7 Excellent advice, that...
Ex- USN (SS) '66-'69 Pro-Constitution. LET'S GO BRANDON!!!
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Joined: Jun 2007
Posts: 24,701 Likes: 47
Campfire Ranger
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Campfire Ranger
Joined: Jun 2007
Posts: 24,701 Likes: 47 |
In all my years I have never lost a penny on real estate, when you buy is important but not as important as what and where you buy, just bought another house and land for cash a few weeks ago.i will take dirt over any stock in the market.they ain't printing any more dirt. Rio7 Excellent advice, that... That still needs to be handled correctly, whether or not they make more dirt, there is some dirt that’s not worth the money…
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Joined: Mar 2013
Posts: 3,610 Likes: 2
Campfire Tracker
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OP
Campfire Tracker
Joined: Mar 2013
Posts: 3,610 Likes: 2 |
[/quote]
Boise is one of the fastest depreciating markets now in America. Id wait a bit This is likely true. Home prices throughout most of idaho peaked last May. Rents still seem to be going up though. Home prices were crazy a year ago with most things selling before they could put a sign in the yard. Things have slowed down and prices have come down. But there is still quite a bit of demand coming from out of state. Now we just have to wonder if prices will keep coming down with the biden economic collapse or will they rise again with the collapse of the dollar? It's a tough time to make a decision of what to invest in. I think many home values have dropped 20% in just the last year and have room to drop another 20 % but the value of the dollar is dropping quickly too. Bb[/quote] Home prices aren’t dropping as fast as I thought they would in the last year, that’s for sure.. The supply is low and the demand is still there. I just priced out an 800 sq foot addition for one of my clients, me and another GC both came in at around $500 a foot. For that kind of money I can buy a new house in Boise…. Not an addition. West coast is just stupid expensive. From what I’m seeing, It’s more of a leveling off/maket adjustment. Not sure we’ll see another 2008 crash as banks had people put more skin in the game. As you said the inflation and collapse of dollar has me questioning this decision.
Last edited by Dre; 04/09/23.
All of them do something better than the 30-06, but none of them do everything as well.
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Joined: Mar 2006
Posts: 11,666
Campfire Outfitter
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Campfire Outfitter
Joined: Mar 2006
Posts: 11,666 |
As a good opening gesture, it's good form for each conservative moving to Idaho, to drive out 2 (minimum) Marxists.
Broncos are officially the worst team in the nation this year.
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Joined: Mar 2013
Posts: 3,610 Likes: 2
Campfire Tracker
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OP
Campfire Tracker
Joined: Mar 2013
Posts: 3,610 Likes: 2 |
As a good opening gesture, it's good form for each conservative moving to Idaho, to drive out 2 (minimum) Marxists. I will happily and gladly contribute to that gesture
All of them do something better than the 30-06, but none of them do everything as well.
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