Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Update on my RE investing careeer....
Old 06-08-2006, 09:34 PM   #1
Thinks s/he gets paid by the post
thefed's Avatar
 
Join Date: Oct 2005
Posts: 2,203
Update on my RE investing careeer....

Well, the house I bought is 3 weeks from ready...and....I bought another house!

This one is in a small Lake community...you can walk to the lake (1 sq. mile) within 3 minutes from the house. ITs a 2 bed, 1000 sf ranch on a slab. I will have 31k in it....and it will command about 55-60k. Not too bad...but I think I will rent it out for a bit first.

I just wanted to tell someone, so thanks for listening


__________________

__________________
thefed is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Update on my RE investing careeer....
Old 06-08-2006, 09:43 PM   #2
Full time employment: Posting here.
Arif's Avatar
 
Join Date: Jun 2005
Posts: 761
Re: Update on my RE investing careeer....

Be careful, sounds like you're getting good at this.
__________________

__________________
You take the blue pill - the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill - you stay in Wonderland and I show you how deep the rabbit-hole goes.
Arif is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-08-2006, 10:11 PM   #3
Thinks s/he gets paid by the post
thefed's Avatar
 
Join Date: Oct 2005
Posts: 2,203
Re: Update on my RE investing careeer....

I should say, 55-60k is what it SHOULD go for. I plan on listing it at 49.9k to help insure a quick sale.
__________________
thefed is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-08-2006, 11:00 PM   #4
Dryer sheet aficionado
 
Join Date: May 2006
Posts: 48
Re: Update on my RE investing careeer....

what is this for 55k, trailer trash?
__________________
blanston is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-09-2006, 07:06 AM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Re: Update on my RE investing careeer....

Sounds good. Still mooching around Akron to find these properties? I think living where I live imposes a price in that it is a lot tougher to find attractive RE investments.

Would you consider holding the note on the property in a sale?
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-09-2006, 09:00 AM   #6
Thinks s/he gets paid by the post
cube_rat's Avatar
 
Join Date: Jul 2005
Posts: 1,466
Re: Update on my RE investing careeer....

Quote:
Originally Posted by blanston
what is this for 55k, trailer trash?
Wow, that was a rude comment.* *Who cares where his property is located?* For young guy, he's doing pretty darn good in paving the way to his ER.
__________________
fuzzy? cute?
cube_rat is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-09-2006, 10:09 AM   #7
Thinks s/he gets paid by the post
saluki9's Avatar
 
Join Date: Feb 2005
Posts: 2,032
Re: Update on my RE investing careeer....

Quote:
Originally Posted by blanston
what is this for 55k, trailer trash?
What a stupid comment


Sounds like you're doing well, keep up the good work

__________________
saluki9 is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-09-2006, 10:20 AM   #8
Thinks s/he gets paid by the post
thefed's Avatar
 
Join Date: Oct 2005
Posts: 2,203
Re: Update on my RE investing careeer....

Not quite trailer trash...lol. Actually a nice little lakeside town. Reminds me of an old 'resort' fishing village...witha small pub/pizza shop, auto/motorcycle repair shop, bait shop etc. ITs pretty neat...and only 10 miles from the center of Akron.

Remember that my area didnt go thru the 5 years of 20% inflation like other cities. I'd be more than comfortable letting my son and wife call this newest house home...without fearing for their safety when I'm not there.

Brewer: I dont know about holding the note per se, but maybe a lease option or land contract (which is essentially the same thing)
__________________
thefed is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-09-2006, 10:55 AM   #9
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
Re: Update on my RE investing careeer....

The 1-2 BR condos a block down from my 4 BR house are selling in the $50's range. Not the best place, but I wouldn't have a problem raising a family there. In town in the middle of things. Not everyone lives in the northeast, florida, or California.
__________________
justin is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-09-2006, 11:42 AM   #10
Dryer sheet wannabe
 
Join Date: Jan 2006
Posts: 12
Re: Update on my RE investing careeer....

It's not in Sawyerwood near Springfield Lake is it? The description matches.
__________________
Doctordec is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-09-2006, 01:48 PM   #11
Thinks s/he gets paid by the post
 
Join Date: Jun 2004
Location: No. California
Posts: 1,600
Re: Update on my RE investing careeer....

You're quite the go-getter, aren't you....

I think you're doing great. Don't you have a business of cleaning air ducts also? You sound lie one busy guy. Keep it up and you'll ER before you know it.
__________________
KB is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-09-2006, 01:59 PM   #12
Full time employment: Posting here.
Arif's Avatar
 
Join Date: Jun 2005
Posts: 761
Re: Update on my RE investing careeer....

Quote:
Sounds good. Still mooching around Akron to find these properties? I think living where I live imposes a price in that it is a lot tougher to find attractive RE investments.
It's definately easier in the midwest and south (except FL). I can still buy decent 60k houses all day long in GA. Those high costs areas are much more difficult, but not impossible.
__________________
You take the blue pill - the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill - you stay in Wonderland and I show you how deep the rabbit-hole goes.
Arif is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-09-2006, 02:04 PM   #13
Thinks s/he gets paid by the post
lazygood4nothinbum's Avatar
 
Join Date: Feb 2006
Posts: 3,895
Re: Update on my RE investing careeer....

i hardly paid much more than 55k for this 1/2 million dollar dump. one man's trash is another man's cash.

and you never know what tomorrow will make of today's so-called trailer trash...

http://tinyurl.com/z7tog

Developers who want to buy Briny Breezes must offer at least $500 million, an average of $1 million per lot, and pony up a $20,000 non-refundable fee, according to a formal announcement Monday from the assemblage of 488 mobile homes near Boynton Beach.
__________________
"off with their heads"~~dr. joseph-ignace guillotin

"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
lazygood4nothinbum is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-09-2006, 04:53 PM   #14
Thinks s/he gets paid by the post
thefed's Avatar
 
Join Date: Oct 2005
Posts: 2,203
Re: Update on my RE investing careeer....

Quote:
Originally Posted by Doctordec
It's not in Sawyerwood near Springfield Lake is it? The description matches.
not Sawyerwood (never heard of it), but you have the lake right. its in lakemore
__________________
thefed is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-09-2006, 05:15 PM   #15
Recycles dryer sheets
poboy's Avatar
 
Join Date: Jan 2006
Posts: 362
Re: Update on my RE investing careeer....

Quote:
Remember that my area didnt go thru the 5 years of 20% inflation like other cities.* I'd be more than comfortable letting my son and wife call this newest house home...without fearing for their safety when I'm not there.
To: thefed

You are going to be blamed for the hoards of invaders who descend into your quiet area of peace.* You did it.* And, they will email their friends. Then, Walmart will get the land across from you and a fried chicken place will get the local authorities* to take your house.* And you will be on Fox and CNN and all the people will be chasing you with pitchforks.*
__________________
Fat, drunk, and stupid is no way to go through life, son.
poboy is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-09-2006, 09:49 PM   #16
Dryer sheet aficionado
 
Join Date: May 2006
Posts: 48
Re: Update on my RE investing careeer....

To TheFed, and everyone else- I would like to apologize for the rude comments regarding- T.T. Poor attempt at humor. And, yes i am in the ridculous California market!

Again, my apologies.

Blanston
__________________
blanston is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-10-2006, 09:30 AM   #17
Recycles dryer sheets
 
Join Date: Dec 2005
Posts: 388
Re: Update on my RE investing careeer....

Blanston,

Works for me. Thanks. I live in the Midwest, but even here that price would be a terrific bargain.

setab
__________________
I told you I'd taunt you a second time.
setab is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-13-2006, 10:03 AM   #18
Thinks s/he gets paid by the post
thefed's Avatar
 
Join Date: Oct 2005
Posts: 2,203
Re: Update on my RE investing careeer....

It's official! I'm overwhelmed!!!!!!

I have another 2 weeks of work left on house #1 (painting inside/outside, pergo floors,tub surround and faucets). I only can work about 4 hours/night, 4 days week, and maybe 6 hours on a weekend.

THEN, I have this new hosue to begin working on around the 25th of this month. I am contracting out a roof repair, and likely a re-arrnagement of a bathroom (knocking out a wall to amke bathroom bigger, relocating toilet, vanity and hotwater tank...yes, the h20 tank is in the bathroom.....)

I have a 1 year old son and feel terrible for spending only 1 full day/week with him, and 1/2 hr every other day. In my effort to better his life...am I neglecting him? I dotn feel like I'm missing the importqnt stuff....but time flies...so I dunno.

I think house #2 will be it for a while. I need some family time. I anticipate putting down the hammer around Aug 30 on that one...so it will have been a total of 4 months of non stop work...but it seems like more.
__________________
thefed is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-13-2006, 11:32 AM   #19
Thinks s/he gets paid by the post
 
Join Date: Jun 2004
Location: No. California
Posts: 1,600
Re: Update on my RE investing careeer....

Good idea to take a break. Maybe set a limit of how many houses to do each year?
The time you miss with your family can never be recaptured.

However the financial gains are so tempting.
__________________
KB is offline   Reply With Quote
Re: Update on my RE investing careeer....
Old 06-13-2006, 02:11 PM   #20
Thinks s/he gets paid by the post
thefed's Avatar
 
Join Date: Oct 2005
Posts: 2,203
Re: Update on my RE investing careeer....

Quote:
Originally Posted by KB
.

However the financial gains are so tempting.
Yes, yes they are. And every day I see a new home on the market I can work with. I think know I'm addicted to money...that doesnt make it easy.
__________________

__________________
thefed is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Value Investing Arif FIRE and Money 6 04-26-2016 07:01 PM
Update your options... Andy R Forum Admin 0 05-22-2007 01:19 PM
Aging Brings Wisdom, but Not on Investing dex FIRE and Money 0 12-04-2005 12:16 PM
(DVY) and Dividend Investing charlottebandito FIRE and Money 11 08-01-2005 10:35 PM
Book Report - Four Pillars of Investing cute fuzzy bunny FIRE and Money 24 03-25-2004 12:24 PM

 

 
All times are GMT -6. The time now is 02:27 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.