Nothing quick about getting rich with real estate

[Jarhead*]

Re: Nothing quick about getting rich with real est

Ginger,

In North Texas you can buy a very nice new home
for less than $100/ft sq,  Here I sit in slack-jawed
amazement at the inflated housing prices in your
neck of the woods.

I don't know your situation, but if it were me I
would take the money and rent until the bubble
burst.  

I think you people out in La La Land have really,
really gone bonkers sometimes ......  

Cheers,

Charlie  

Charlie: How would you like it if all of us Calif. "wierdos" decided to sell our homes and move to Austin?
Scary thought, huh?

 

[Mr._johngalt]

Re: Nothing quick about getting rich with real est

If all the Calif. "weirdos" moved to Austin, that would be fine with me. It's already a "blue" city in a"red" state. But please do not move into Texas and settle
elsewhere. Charlie and I like it just the way it is.

JG

 

[Hyperborea]

Re: Nothing quick about getting rich with real est

If all the Calif. "weirdos" moved to Austin, that would be fine with me.  It's already a "blue" city in  a"red" state.  But please do not move into Texas and settle
elsewhere.  Charlie and I like it just the way it is.

Isn't Austin where the Texas high tech industry is located? Lots of educated well paid people?

 

[Ol_Rancher]

Re: Nothing quick about getting rich with real est

"Isn't Austin where the Texas high tech industry is located? Lots of educated well paid people? "

No, Austin is where there is no solution to gridlock traffic except to charge tolls to use fly-overs already paid for with tax money. It is the place that the city pays a PR firm t o produce bumper stickers saying, "keep Austin weird" which in itself is an admission that Ausitn no longer has its once unique character.

Austin is the place of high taxes, fees, declining school district. The place where a local writer bemoaned that to attend any public event is near impossible as he had to view this year's Zilker Park Kite Flying Contest from a parking lot three miles away.

Austin is a place where the Californication process is almost complete. Where the once "laid-back" music capitol of the world is now populated by rude, angry, motorists, tech immigrants who push up real estate, and a liberal city government that thows obscene amounts of tax dollars at any project of politically correct interest groups.

The place that has a metropolitan population change from 285,000 in 1973 to 1.3 million now.

The place so out of synch with the tradtions, character and spirit of Texas as to be an island culture in the midst of the southern plains that hopefully can be contained.

 

[charlie]

Re: Nothing quick about getting rich with real est

Austin is the home of Dell Computer and ever major
semi-conductor mfg has a facility there. Of course
Dallas is the home of TI and many of its offspring.

Cheers,

Charlie

 

[Mr._johngalt]

Re: Nothing quick about getting rich with real est

Hello Ol_Rancher! Man you got Austin right on the money. Yeeeeeeeeeeeaaaaaaaaaah!
(Howard Dean scream)

JG

 

[wildcat]

Re: Nothing quick about getting rich with real est

I liked Austin during my visits but I think it is becoming a tad too popular. Thank the press!! I tell people it is like a west coast city stuck in Texas. And Cali problems are starting to sprout by the day.

 

[cute fuzzy bunny]

Re: Nothing quick about getting rich with real est

I don't know your situation, but if it were me I would take the money and rent until the bubble
burst.

Havent I thought about *that* idea. Rents severely trail home values here. Oddly, they're building apartment buildings left and right, then offering months of free rent to try to get people to move in. Homes seem to rent out pretty quick.

If I hadnt just moved myself and my wife in the past 2 years, and if our little cul de sac wasnt the perfect place for a young boy to grow up, I'd think about it.

Just as an example, we just sold my wifes old house for $240k - thats in an iffy neighborhood with a next door neighbor thats a junk and junk car collector. We could maybe get 1000-1100 a month renting it out. About the only thing that even produced a twang of wanting to keep it is the 14 year old sub $500 a year prop 13 property tax bill...

I could sell our current place for ~$350k and rent a nice 2000 square foot ranch house on a couple of acres for less than $2k a month. Heck, just the interest on the 350k on a 5 year CD would pay most of the rent...

The only problem is I 'called the top of the bubble' in the SF bay area 8 years ago and its only gone up more. I did the same in sacramento 2 years ago, and its also continued to go up.

 

[Mr._johngalt]

Re: Nothing quick about getting rich with real est

Hello all. I just worked this out today. We can use the Texas condo for 2 -3 months per year and still have positive cash flow for the year. Such a deal!

JG

 

[Mr._johngalt]

Re: Nothing quick about getting rich with real est

I was reading the th post about his wife's former house
and the "junky" neighbor. For us (low budget and
backwoodsy but fussy) that neighbor thing can be trouble.
In our subdivision, all of the houses with water frontage
for quite a distance both upstream and down are pretty nice.
Just lucky there. Mostly Chicago area owners. Weekenders
with a little more money and upscale attitudes.
I think the Texas condo will be okay too, but we have
not actually used it for an extended period. In our case, unless we could live way out on a large piece of land
the neighbors are always a worry. The bottom line is
it would be a real financial strain to have to buy a lot of space
between ourselves and "trailer trash" if it came to that. (no offense
to you mobile home and RV people).

JG

 

[tryan]

Re: Nothing quick about getting rich with real est

Of course on the flip side ... why buy and spend 1200-1300/month if you can rent for 6-8 hundred. And with rates creeping up the mortgage won't get any cheaper.

That might explain why I haven't seen an offer on the SF I put on the market in Feb.

Enjoy!