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Old 11-17-2013, 10:24 PM   #411
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So do yall own like a crapload of houses? And all over or just in a general region?
I own 2 houses and a duplex.

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Old 11-17-2013, 10:44 PM   #412
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My current apartment building was built 5 yrs ago. I pay only 950 for 3bd2bth 1300 sqft, single garage, with a large separate laundry. really nicely fitted too. We've got it lucky, anything in Greenville only 30 miles away of the same size/quality is easier $300 more. Ya that's the trade-off. Cost/time vs end value..... Second house we did I walked into the bathroom and my foot broke through the floor..... That house took a hell of a lot of work, but we only paid like $12,500 and now it's a great house. I'd live there and I'm spoiled and have really high standards.
Wtf its $1500 for a one bed no gargar apartment! Here
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Old 11-17-2013, 11:01 PM   #413
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So do yall own like a crapload of houses? And all over or just in a general region?
We've got 8 houses and several empty lots here and there. 6 on one street. 3 are directly next to each other, and directly across the street two more right next to the other.

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Wtf its $1500 for a one bed no gargar apartment! Here
1500 bucks would make for a pretty big house payment here. Paying that for 20 yrs down here = $360,000 makes for a really nice house here. But up in Calgary, Canada my parents live in a $2.5mil house that they are renting that would probably go for $500,000 here.

Crazy how the economy changes from place to place.
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Old 11-17-2013, 11:10 PM   #414
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What you guys are talking about...is one of the huge reasons i moved from Massachusetts to Wisconsin. Like labaladeplata said, I'm used to seeing $1000-1500 for a 1 bedroom apt. ****, the mortgage in my 1k sq ft townhouse that i lost in a short sale because i was upside down in, was $2k a month!
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Old 11-18-2013, 01:01 AM   #415
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We've got 8 houses and several empty lots here and there. 6 on one street. 3 are directly next to each other, and directly across the street two more right next to the other.

1500 bucks would make for a pretty big house payment here. Paying that for 20 yrs down here = $360,000 makes for a really nice house here. But up in Calgary, Canada my parents live in a $2.5mil house that they are renting that would probably go for $500,000 here.

Crazy how the economy changes from place to place.
Ah well thats cool. That really sounds like a pretty awesome job actually.
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Old 11-18-2013, 01:15 PM   #416
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Wtf its $1500 for a one bed no gargar apartment! Here
Three words: supply and demand.
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Old 11-18-2013, 03:20 PM   #417
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I have always been interested in real estate investment/income. Thanks for sharing everyone. It reminds me that I need to get off my butt and get moving on my dream.

On another note, I also hate the high rental prices where I live. 1 bed apartments with no garage usually go between 1k-1.2k/mo if they have running water. Even a 16x20 cabin with loft and no running water will go for 750/mo.

Unfortunately, a mortgage is out of reach for most, as our median home price is about $236k. A conventional 30 year fixed at today's rates make that a $1500-1600/mo payment (PITI). Once you add utilities (about $1k/mo) it is an unattainable goal for many.
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Old 11-18-2013, 03:40 PM   #418
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I have always been interested in real estate investment/income. Thanks for sharing everyone. It reminds me that I need to get off my butt and get moving on my dream.

On another note, I also hate the high rental prices where I live. 1 bed apartments with no garage usually go between 1k-1.2k/mo if they have running water. Even a 16x20 cabin with loft and no running water will go for 750/mo.

Unfortunately, a mortgage is out of reach for most, as our median home price is about $236k. A conventional 30 year fixed at today's rates make that a $1500-1600/mo payment (PITI). Once you add utilities (about $1k/mo) it is an unattainable goal for many.
$1500/month for 30 yrs = $540,000
What kind of rates are you talking about? Seems like it would be much cheaper than $1500/month if you're buying a $300,000 house...
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Old 11-18-2013, 04:44 PM   #419
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Originally Posted by goneFXcrazy View Post
$1500/month for 30 yrs = $540,000
What kind of rates are you talking about? Seems like it would be much cheaper than $1500/month if you're buying a $300,000 house...
Taxes... Insurance... and in most cases PMI since 20% down is hard for most to obtain when renting costs as much as buying. Just ran a generic mortgage calculator to include PMI, Insurance, and taxes. Right around $1500/mo give or take $20...

Last edited by cwrose; 11-18-2013 at 04:46 PM.
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Old 11-18-2013, 04:56 PM   #420
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Ya when all is said and done, it's hella expensive either way
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