How'd that stock do in 2008? That little $29,900 house does about 26% in the good years..... and 26% in the bad years.
If you have a stock that will bring 20% or more every year for the next 40 years, you should buy it.
If you have a stock that will bring 20% or more every year for the next 40 years, you should buy it.
I don't recommend low end homes to rent. Too many rent, and have to evict for non payment happens.
If people have the money to invest in mid to high end rentals, they are typically the folks that pay the bills.
Get credit reports.
Well, Winner, where do I begin?
First, I believe you just pulled that 35% return out of your a$$ - but even if you didn't, that would be a 23% annualized return during one of the BEST market runs in recent history (By the way, please don't post returns in 18 month terms...no one does that and it shows that you don't understand how to report earnings, they're always annualized)
Second, My properties averaged a little over 16% through leases and Edmond housing has appreciated 3.5% over the last 5 years so I am at a rough 20% annualized return...and I don't have any debt involved either.
So, in an AVERAGE year I have a documented 20% return and in a BEST market year you have a (If anyone on the forum believes you) 23% return.
My years will all look the same except I will continually increase rent year over year to offset inflation and expenses. Yours will most likely never look better and in the case of a market crash (I think that has happened before?) you'll lose your shirt.
Still think you're going to "out do" those landlords in 30 years?
(By the way, I believe in multiple investing strategies and have over 7 figures in the stockmarket as well, I'm just debating your moronic statements so that anyone reading this thread isn't mislead.)
Like I said, your never wrong! Thanks for making my point forever on the interwebs! LOL
Don't do low end unless you're willing to be a real slumlord.
Lots of house deals between 70-100K in NW OKC that will bring 1K a month in rent. With the right properties it's great.
Lots of house deals between 70-100K in NW OKC that will bring 1K a month in rent. With the right properties it's great.
I like to rent to young families. I check their work history.
Another check is call the land lord they currently have. I have a friend that asks where they live currently, and then he says well lets go to your current place and I will look at how you keep it up.
I keep a clean house and do not mind when people show up.
I have a friend that has 2 cheap houses near central and 22 sw one he got for $1,500
That is right less than 2K and he rents it for 450-500 and will only rent to Mexicans.. he said they pay the bill on time every time.
No he is not prejudice neither am I but it is what it is.
I had college guys try to rent from me and wanted to pay off the deposit in monthly installments.
NOPE if you do not have the money now what is to say you can have my rent on time.
2 girls wanted the same deal NO WAY..
No deals .. either you have money or you do not.. if you do not then you are probably bad with money.
If you get a cheap home in a bad to rent area ,, then sell it and carry the note.. I got 1 for 20K and sold it for 40K'
6500 down and 10% interest and 500 a month.. which is 100 more a month than the rent in that area.
You can charge more interest or up the price.. some people just want to own but have no credit and can't get financing.
Another check is call the land lord they currently have. I have a friend that asks where they live currently, and then he says well lets go to your current place and I will look at how you keep it up.
I keep a clean house and do not mind when people show up.
I have a friend that has 2 cheap houses near central and 22 sw one he got for $1,500
That is right less than 2K and he rents it for 450-500 and will only rent to Mexicans.. he said they pay the bill on time every time.
No he is not prejudice neither am I but it is what it is.
I had college guys try to rent from me and wanted to pay off the deposit in monthly installments.
NOPE if you do not have the money now what is to say you can have my rent on time.
2 girls wanted the same deal NO WAY..
No deals .. either you have money or you do not.. if you do not then you are probably bad with money.
If you get a cheap home in a bad to rent area ,, then sell it and carry the note.. I got 1 for 20K and sold it for 40K'
6500 down and 10% interest and 500 a month.. which is 100 more a month than the rent in that area.
You can charge more interest or up the price.. some people just want to own but have no credit and can't get financing.
Hopefully, the 'point'that was forever made was that you make blanket statements that aren't true and when given factual and documented counterpoints you fall apart and write silly things like 'I win' and 'LOL' instead of anything substantial.
I personally don't like 'know-it-all' internet ninjas - especially when it's misleading for other people in subjects that I am well versed.
I can tell most of your financial experience is regurgitated from what you heard on the radio (Dave Ramsey?) which is fine, but putting other investment ideas down when you have no idea what you're talking about is bad for others reading these threads.
I'm actually trying to help.
By the way, PLEASE learn the difference between your and you're - it shows lack of intelligence to continually use the wrong word.
Are you a lawyer or doctor or something? I like that everybody can find their own success. My wife and I are different than most but what works for us may not work for others. We put into 401, my ranch, and cattle and pay debt down like her big college loans. It may not be numerically the best but it keeps us motivated and our eyes on our target goals. Goals is the best advice I can give. Not percentages.
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