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Joined: Dec 2013
Posts: 44,264
Campfire 'Bwana
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OP
Campfire 'Bwana
Joined: Dec 2013
Posts: 44,264 |
Being leveraged is about the only way to make money on rentals in this market. I was In a good position on 4 rentals a few years ago but became obsessed with getting out of debt and sold most of them. I wish I would have waited until now because they have nearly doubled in value the last few years.
As of now I have 1 rental left and it's almost paid off. It rents for $1200 a month and property tax and insurance are about $360 of that. I had an offer on it for $285,000 so I'm really only netting around 3% on my money and often wonder if it's worth that. If I leveraged that equity to put 20% down on 3-4 more properties I'd net much more but my risk and hassle would increase.
I thought about doing a 1031 exchange into a 4 plex and increasing my leverage to make more on my money. If I outright sell my rental and try to invest in something else I'll get killed in taxes. So I just keep getting my lowly $1200 month and being happy that my renters pay. It's hard to make any real money playing it safe.
Bb You might want to look into the 1031. I was told the current administration was trying to do away with them and I am not sure on the status. There are so many jobs available here it's crazy, kids don't want to get off the couch for $20 a hour . Randy, you are correct on both points. Hoejoe crew is trying to kill the 1031 exchange system. You cannot drive down anywhere in my area and not see Help Wanted signs.
Slaves get what they need. Free men get what they want. Rehabilitation is way overrated. Orwell wasn't wrong. GOA member disappointed NRA member 24HCF SEARCH
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Joined: Aug 2015
Posts: 13,235
Campfire Outfitter
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Campfire Outfitter
Joined: Aug 2015
Posts: 13,235 |
I said it was an unlawful taking from the get go. Thankfully my kids live in my two rentals and they pay their rent.
Let's Go Brandon! FJB
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Joined: Dec 2013
Posts: 44,264
Campfire 'Bwana
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OP
Campfire 'Bwana
Joined: Dec 2013
Posts: 44,264 |
I said it was an unlawful taking from the get go. Thankfully my kids live in my two rentals and they pay their rent. That's a decent setup. Have an acquaintance who does that. Kids are pretty lucky for that, too. The way rents have gone up here.
Slaves get what they need. Free men get what they want. Rehabilitation is way overrated. Orwell wasn't wrong. GOA member disappointed NRA member 24HCF SEARCH
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Joined: Dec 2013
Posts: 44,264
Campfire 'Bwana
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OP
Campfire 'Bwana
Joined: Dec 2013
Posts: 44,264 |
I do what I want, when I want
What sort of timeline are you looking at for the CDC lawsuit? None of your business, troll. Oh by the way, looked over some of your posts. Anti-boomer, anti-Semitic, never used mortgages. That would make you a 40-something trust baby. Just as I thought. Fugkin punk.
Slaves get what they need. Free men get what they want. Rehabilitation is way overrated. Orwell wasn't wrong. GOA member disappointed NRA member 24HCF SEARCH
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