OFFICIAL real estate bs discussion
- Thread starter OffshoreDrilling
- Start date
Yes Shawn u should make money but it will not be easy and not a lot. Charging high rents u will have picky renters and will annoy u for every little thing
Im pretty sure it’s difficult to get a loan on a rental property these days unless you’re paying cash up front. If you have the cash I’d say there are better investments out there for sure.
Not all that difficult, just need to be able to put down 30% or more for the lenders to take a chance.
My mom is looking for a rental / second property at the moment here In Florida by me, she would need to come up with 30% minimum.
I don’t know much of an investment that really is with that much down required (or more) and the rates given what they are. I haven’t looked into it either so maybe I’m wrong.
The rates are what killing the sales right now. Make or break a profitable rental , meaning rent to cover the mortgage payment.
Yep. If you want to buy a rental property basically plan to put >30% down and pay it off as quick as possible. Then you’ll make money, not before
Otherwise you’re just giving your profits to the bank
i'm surprised prices have been as resilient as they have. it's not like there haven't been rental properties in the past at these rates though, at the end of the day you just need to be cash flow positive. i only really looked at buying a property for investment once, and at the end of the day it was lake county taxes that put me off of it.
it seems like the only people building now by me/looking to build are boomers offloading whatever boo0mer mcmansion they have for 1.2 milli and then build an 2000 sq foot ranch for $600k cash
House and a hanger combo
https://www.zillow.com/homedetails/...ssage&utm_medium=referral&utm_source=txtshare
https://www.zillow.com/homedetails/...ssage&utm_medium=referral&utm_source=txtshare
A pole barn AND a grizzly bear
www.zillow.com
14150 Lemont Rd, Homer Glen, IL 60491 | MLS #11911765 | Zillow
This 3285 square feet Single Family home has 5 bedrooms and 3 bathrooms. It is located at 14150 Lemont Rd, Homer Glen, IL.
A pole barn AND a grizzly bear
14150 Lemont Rd, Homer Glen, IL 60491 | MLS #11911765 | Zillow
This 3285 square feet Single Family home has 5 bedrooms and 3 bathrooms. It is located at 14150 Lemont Rd, Homer Glen, IL.
America's homebuyers are older than ever with median age now 49
Research by the National Association of Realtors has revealed that the average age of all homebuyers has steadily crept up over the past forty years.
Tl;dr
People seeking higher education and starting families later likely has a lot to do with it. And now, prices of homes are adding to that.
How’d I do?
People seeking higher education and starting families later likely has a lot to do with it. And now, prices of homes are adding to that.
How’d I do?
Also the opportunity to move around with in a company or career should also be added in there.
Sold for 600k in 2018
does not appear to have been renovated at all since then, and no mention of it in the comments
....now asking $1.1m for a 2100 sq ft 3br house lol. Cedar lake people are a different breed
www.zillow.com
does not appear to have been renovated at all since then, and no mention of it in the comments
....now asking $1.1m for a 2100 sq ft 3br house lol. Cedar lake people are a different breed
8208 Peterson Blvd, Cedar Lake, IN 46303 | MLS #541587 | Zillow
This 2103 square feet Single Family home has 3 bedrooms and 4 bathrooms. It is located at 8208 Peterson Blvd, Cedar Lake, IN.