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09-28-2008, 11:00 AM
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#41
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,856
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Quote:
Originally Posted by Walt34
... have been evicted in the past for non-payment of rent, but he drives a Lincoln Navigator.
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We've noticed that our tenants have parked their commuter SUV in favor of using a PT Cruiser. They still use window A/C (in a Hawaii home with no insulation and jalousie windows) but they've retrofitted CFLs instead of incandescent bulbs and I'm sure they've cut back on the $700 electric bills. But they recently added a baby to their family.
I'm just happy that he has a good civil-service job and a military pension. In the current credit/housing environment I doubt that they'll be buying a home anytime soon...
__________________
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Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
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09-29-2008, 09:34 AM
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#42
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Recycles dryer sheets
Join Date: Jul 2008
Location: ENE MO - near STL
Posts: 424
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Quote:
Originally Posted by Nords
We've noticed that our tenants have parked their commuter SUV in favor of using a PT Cruiser. They still use window A/C (in a Hawaii home with no insulation and jalousie windows) but they've retrofitted CFLs instead of incandescent bulbs and I'm sure they've cut back on the $700 electric bills. But they recently added a baby to their family.
I'm just happy that he has a good civil-service job and a military pension. In the current credit/housing environment I doubt that they'll be buying a home anytime soon...
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Wow, bonus for you. Sounds like a good long-term tenant!
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09-30-2008, 10:10 AM
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#43
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,856
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Shipmate of a shipmate. We had a deposit practically before the movers even packed out my parents-in-law. We nearly doubled the rent and, although it's probably time to raise it again in a few months, I hesitate to threaten the golden goose.
__________________
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Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
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09-30-2008, 11:54 AM
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#44
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Recycles dryer sheets
Join Date: Jul 2008
Location: ENE MO - near STL
Posts: 424
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Quote:
Originally Posted by Nords
...although it's probably time to raise it again in a few months, I hesitate to threaten the golden goose.
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Yep, that'd be my position. I've never been a landlord and frankly don't want to get into that business, but if I were I'd certainly find great value in a long term, paying, well-behaved tenant. Too many horror stories out there about bad tenants. But you know that.
Good luck!
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09-30-2008, 02:47 PM
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#45
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Thinks s/he gets paid by the post
Join Date: May 2008
Location: Cooksburg,PA
Posts: 1,873
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09-30-2008, 03:01 PM
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#46
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Dryer sheet aficionado
Join Date: Jul 2008
Posts: 27
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I hope the recent oil/credit crisis teaches everyone that:
1. You do not need a 10mpg SUV to commute to work by yourself
2. If you can't pay cash for a car - you probably can't afford it
3. If you can't put down 25% on a house or if the mortgage is more than 33% of your income (pretax) - you probably shouldn't buy it
We can't continue to live on debt....
__________________
A car is only as fast as the driver
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09-30-2008, 08:28 PM
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#47
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Thinks s/he gets paid by the post
Join Date: Jun 2004
Location: W Wash
Posts: 1,644
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My learning so far:
Having no debt and living expenses in a safe place makes it much easier to sleep with the noise of the current chaos
For every deregulation, a new version of scam and cheat will appear.
When you see behavior that makes no sense (110% mortgages, money lent to people who can not qualify for "real" financing, success being defined by hedge funds, etc etc), don't just watch and wonder, start looking for the exit and be happy if you are early.
nwsteve
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